Asian share markets pulled ahead on Wednesday as investors were relieved after a raft of Chinese data beat expectations in a sign Beijing’s policy stimulus may finally be gaining traction in the world’s second-largest economy.
Mobile telecom equipment maker Ericsson beat first-quarter result forecasts on Wednesday due mainly to strong growth in North America as the company raised its full-year outlook for the global networks market.
China’s economy grew at a steady 6.4 percent pace in the first quarter from a year earlier, defying expectations for a further slowdown, as industrial production jumped sharply and consumer demand showed signs of improvement.
Mobile telecom equipment maker Ericsson reported on Wednesday a bigger that expected rise in first-quarter operating earnings and said it saw strong growth in North America as it raised its outlook for the global networks market.
Swiss drugmaker Roche raised its 2019 outlook after first-quarter sales rose 8 percent, beating analyst estimates on the strength of newer medicines including multiple sclerosis treatment Ocrevus and cancer immunotherapy Tecentriq.
Frustrated U.S. businesses can no longer be counted on as a “positive anchor” in U.S.-China relations, a top U.S. business lobby said on Wednesday, arguing any deal to end trade tensions must address structural problems in China’s economic system.
Terry Gou, chairman of Apple supplier Foxconn, said on Wednesday he “will follow the instruction” of a sea goddess who has told him to run in Taiwan’s presidential election next year.
Swiss drugmaker Roche raised its 2019 outlook after first-quarter sales beat analyst forecasts on the strength of newer medicines including multiple sclerosis treatment Ocrevus and cancer immunotherapy Tecentriq.
At a truck stop in Ridgefield, New Jersey, driver Paul Richards reviews a notebook where he tracks miles driven and what he is hauling. His paycheck is down about 25 percent from the same period a year ago, and his weekly miles have dropped as well.
ABB Chairman Peter Voser has taken over as temporary chief executive at the Swiss engineering group, the company said on Wednesday, after CEO Ulrich Spiesshofer stepped down.
Etihad Airways Group Chief Financial Officer Mark Powers has stepped down after roughly a year in the job as the Abu Dhabi state-owned carrier overhauls its business after years of heavy losses.
CWT International Ltd, a unit of China’s indebted HNA Group Co Ltd, said on Tuesday it defaulted on a HK$1.4 billion ($179 million) loan, and that it has less than 24 hours to pay funds due or lose assets pledged as collateral.
Terry Gou, chairman of Apple supplier Foxconn, said on Wednesday he will follow the order of a sea goddess who has told him to run in Taiwan’s 2020 presidential election, although he added he has not yet formally declared his intention to contest.
Oil prices rose for a second day on Wednesday on signs of strong demand from refineries in China, the world’s second-largest crude user, amid tightening supply as producers curtail output and as oil inventories in the United States fell unexpectedly.
Asian share markets swung higher on Wednesday as a raft of Chinese data easily beat expectations in a sign Beijing’s policy stimulus may finally be gaining traction in the world’s second-largest economy.
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