Tag: Asia Economy

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Goldman Sachs compares China's southbound and northbound flows
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China’s Midea Group launches $3.5 billion share offering in Hong Kong

RT: Midea appliances with name in background Kim Kyung-Hoon | Reuters Chinese home appliance maker Midea Group on Monday launched a share offering of about HK$26.97 billion ($3.46 billion) in Hong Kong, according to its filings, in the city’s largest listing in more than three years. The company, listed in Shenzhen, has allotted around 492.1 million shares for the Hong Kong offering, the filing showed, with the stock to be...

Analyst outlines what's behind Samsung Electronics' earnings surprise
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AI drives up earnings, shares pop

The Samsung logo is on display at their pavilion during the Mobile World Congress in Barcelona, Spain, on February 28, 2024. (Photo by Joan Cros/NurPhoto via Getty Images) Nurphoto | Nurphoto | Getty Images Shares of Samsung Electronics jumped to their highest level since January 2021 after the South Korean tech giant said it expects...

Iran's attack on Israel: China could play a big role in reducing contagion risk, ex-diplomat says
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Dechert weighs shuttering offices in Hong Kong, Beijing: Reuters

U.S.–founded law firm Dechert is considering closing its offices in Hong Kong and Beijing, becoming the latest foreign firm to scale back in Greater China, two people said, amid a prolonged capital market downturn and growing Sino-U.S. tensions. Nurphoto | Nurphoto | Getty Images U.S.-founded law firm Dechert is considering closing its offices in Hong Kong and...

The EV market has become a 'red ocean' because of low barriers to entry, says Frost & Sullivan
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China Nio shares soar 20% as EV deliveries more than double in April

Nio’s ET5 stands on display at the Central China International Auto Show on May 25, 2023, in Wuhan, China. Getty Images | Getty Images News | Getty Images Shares of Chinese electric vehicle maker Nio Inc jumped 20% Thursday after its vehicle deliveries more than doubled in April. Hong Kong-listed shares of the company jumped...

Samsung has lost its edge, analyst says
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Samsung Electronics’ operating profit jumps 933% in first quarter, beats expectations

Samsung Electronics Co. Galaxy S24 smartphones during a media preview event in Seoul, South Korea, on Monday, Jan. 15, 2024. Samsung, the world’s most prolific smartphone maker, is leaning into artificial intelligence as the key to unlocking greater sales this year. Photographer: SeongJoon Cho/Bloomberg via Getty Images SeongJoon Cho | Bloomberg | Getty Images Samsung...

Wedbush's Matt Bryson talks the AI chip space
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Nvidia supplier SK Hynix reverses losses in first quarter on AI demand

SK Hynix Inc. signage at the company’s office in Seongnam, South Korea, on Monday, April 22, 2024. SK Hynix is scheduled to release earnings figures on April 25. Photographer: SeongJoon Cho/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty Images South Korean memory chipmaker SK Hynix on Thursday reported a net profit of 1.92 trillion...

GoTo-TikTok deal: It's 'worrying times' for Southeast Asian e-commerce, Bernstein says
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Singapore’s Sea Limited posts first profitable year

MariBank, Singapore tech giant Sea Group’s digital bank, has launched in Singapore to select members of the public as it rolls out its services progressively. Rafael Henrique | Sopa Images | Lightrocket | Getty Images Southeast Asian tech giant Sea Limited on Monday posted its first profitable year amid efforts to defend market share against...

Grab CFO says 2024 will be a year of investing
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Grab posts first profitable quarter, announces share buyback

A attendee walks past a banner with a Grab logo before a bell-ringing ceremony as Grab begins trading on the Nasdaq, in Singapore, on Thursday, Dec. 2, 2021. Ore Huiying | Bloomberg | Getty Images SINGAPORE — Grab posted its first-ever profitable quarter, raking in $11 million in profit, the Southeast Asian ride-hailing giant said...