ALIBABA GROUP HOLDING-SP ADR

11 Sep

Chinese Traders Pour Into Alibaba Shares as Trading Links Start

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Mainland Chinese investors flocked to Alibaba Group Holding Ltd. as its Hong Kong-listed stock was made directly available to them for the first time.Investors bought HK$8.5 billion ($1.1 billion) worth of Alibaba shares through the Stock Connect program on the first day, on a net basis, according to stock exchange data released late Tuesday. Purchases via the Shanghai and Shenzhen bourses accounted for about half of the day’s turnover in the stock. Source link lol

16 Aug

Tech Rally Propels Emerging Stocks To Best Week in Four Months

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Emerging-market stocks rallied on Friday, driven by tech companies in Asia, following US data which boosted investor optimism that the world’s biggest economy will avoid a recession. The MSCI gauge for developing world stocks climbed as much as 1.6%, extending their weekly gains to 2.8%, on track for the biggest since April. Taiwan Semiconductor Manufacturing Company, Samsung Electronics Co and Alibaba Group Holding are the biggest contributors to the rally. Source link lol

16 Aug

Chinese Tech Stocks Rally as JD.com Spurs Earnings Optimism

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Chinese technology stocks gained as resilient earnings from major e-commerce firms helped soothe concerns over weak consumption. The Hang Seng Tech Index rose as much as 2.2%, poised for its best day in August. JD.com Inc. contributed to about a third of the index’s gains after shares jumped more than 9% following a strong profit beat. Alibaba Group Holding Ltd. rose over 4% as traders focused on positive elements of its mixed results. Source link lol

16 Aug

Alibaba’s Long-Awaited China Stock Link May Provide Timely Boost

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Chinese investors finally being able to buy shares of Alibaba Group Holding Ltd. may provide a much-needed boost for the e-commerce firm’s stock, with an inflow of up to about $20 billion into next year.The company first hatched the plan for an upgrade to a primary listing in Hong Kong two years ago amid heightened tensions with the US. It may at last be realized by the end of the month, paving the way for it to join a program that connects the Shanghai and Shenzhen bourses to the Hong Kong exchange. Source link lol

15 Aug

Alibaba’s Revenue Misses Estimates in a Blow to Revival Effort

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Alibaba Group Holding Ltd. posted a disappointing 4% rise in revenue, after aggressive promotions and new shopping features failed to drive spending in a patchy Chinese consumer environment.The domestic e-commerce leader reportedBloomberg Terminal revenue of 243.2 billion yuan ($34 billion) in the June quarter, versus the average projection for about 249.9 billion yuan. Net income fell about 27% to 24.3 billion yuan, reflecting the heavy cost of attracting and retaining shoppers. Source link lol

14 Aug

David Tepper Sticks to China Bet While Trimming Nvidia Holdings

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Billionaire investor David Tepper held about steady in the Chinese companies that he scooped up earlier this year, even as he trimmed his stakes in Alibaba Group Holding Ltd. and US tech giants.While Tepper’s Appaloosa Management cut its stakeBloomberg Terminal in Alibaba by about 7% in the second quarter, the Chinese e-commerce giant remains the fund’s biggest position, accounting for 12% of its $6.2 billion equity portfolio, according to a 13F regulatory filing Wednesday. Source link lol

14 Aug

Hedge Funds Add Apple, Reshuffle Technology Portfolio

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Hedge funds continued to buy into some of the biggest technology companies including Apple Inc. in the second quarter while trimming positions in Nvidia Corp., as they reshuffle their positions in the artificial intelligence boom that had fueled a blistering rally in the US stock market.The iphone maker saw the biggest increase by market value for a single stock in the three months through the end of June, according to Bloomberg’s analysis of data from 13F filings. The stock soared nearly 25% during the period, attracting an aggregated net buy of more than 8.5 million shares from hedge funds. Janus…

14 Aug

Tencent’s Sales Growth Sped Up After Blockbuster Game Release

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Tencent Holdings Ltd.’s revenue accelerated its growth after the blockbuster summer release of Dungeon & Fighter Mobile helped lift China’s most valuable company out of a gaming trough.Revenue jumped 8% to 161.1 billion yuan ($22.5 billion) for the April-June period, versus the projected estimate of 161.4 billion yuan. Net income surged to 47.6 billion yuan, compared with the estimated 39.9 billion yuan. Source link lol

14 Aug

Tencent’s Buyback Plan in Focus as Chinese Tech Rivals Catch Up

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Investors will scrutinize any comments from Tencent Holdings Ltd. about its buyback plans during Wednesday’s quarterly results announcement as its competitors catch up with its spending levels.Tencent has forked out almost $8 billion this year to repurchase its Hong Kong-listed shares, more than any other company on the exchange, according to data compiled by Bloomberg. The firm is widely expected to keep spending as its total outlay this year is only about 60% of the $12.8 billion it projected for the whole of 2024. Source link lol

13 Aug

Singapore’s Sea Tops Profit Estimates on Online Shopping Growth

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Sea Ltd. raised the outlook for its main online retailing arm, signaling the Southeast Asia e-commerce leader is effectively encountering intense competition from the likes of TikTok and Lazada.The value of goods sold by the Shopee division will rise in the “mid-20%” range this year, Sea said TuesdayBloomberg Terminal, rather than the “high teens” pace predicted in March. Singapore-based Sea also posted second-quarter profit and sales that topped analysts’ estimates. Source link lol