Latest: Asia Stock Market News
Tencent hired financial advisers recently to examine the best way to cash in on its eight-year-old investment and placate regulators, sources with knowledge of the matter said.
The onshore yuan dropped 0.47% to 6.7950 per dollar on Tuesday, its lowest since May 16, on concern about its recovery from recent Covid lockdowns.
Shares of Longfor, CIFI and Country Garden all jumped by more than 15% in morning trading on Tuesday. The Hang Seng Mainland Properties Index climbed 9.2%.
Asian shares were mixed after China's central bank unexpectedly trimmed two key lending rates following the release of July data that showed the nation's economic slowdown deepening.
"It seems like they're saying, 'We think the outlook for China tech is pretty poor so we're going to get in front of that'," said Redex Research analyst Kirk Boodry.
India's billionaire Rakesh Jhunjhunwala - known as the country's Warren Buffett and the Big Bull – died on Sunday, drawing praise from Modi and many others
China Life Insurance, plus oil giants Petrochina and Sinopec, and Chalco, which have a combined market cap of more than $300bn, will voluntarily exit US markets this month
Japan's benchmark Nikkei index hit a seven-month high on Friday while China and Hong Kong stocks were in retreat
About 200,000 tonnes of copper believed held at storage sites in Qinhuangdao port for Glencore and over a dozen Chinese companies is reportedly missing, the report says
China Tourism Group Duty Free Corp aims to raise up to $2.16 billion in a listing due to launch on August 25. It will be the biggest listing in Hong Kong this year.
In This Section
AF Market Insights
-
China-US Economic TiesChina Stocks Delisting From US: Everything You Need to Know -
Market InsightsChina Stock Market Guide: Everything You Need To Know
AF China Bond
China Stock Markets
-
SemiconductorsTaiwan to Fine Foxconn After Unauthorised Chinese Investment -
Market InsightsChina’s Covid Infections Rise Further as Outlook Darkens
AF TV: Market Analysis
Markets: The Big Picture
With a market cap of$240 billion, chipmaker ASML is Europe’s most valuable tech company. Its market-leading position comes from its monopoly in Extreme Ultraviolet Lithography (EUV) machines which allow chipmakers to make smaller, faster and smarter semiconductors
-
Oil & GasIndia Is Likely Exporting Refined Russian Oil to the WestIndia’s fast-rising Russian oil imports are being matched by its rising oil exports suggesting it may be reselling Russia’s oil to the West.
-
MarketsApple Asks Suppliers in Taiwan to Meet China Label StandardsUS tech giant Apple told its Taiwan suppliers that products moving to China must be labelled to state that the island is a part of China and not an independent nation
-
MarketsIndian-Owned Tech Firms See Sharp Growth in UKDespite a moribund British economy and heavy corporate tax, Indian-owned tech firms are growing in the UK.
-
MarketsChina Becomes World’s Second-Biggest Bitcoin Mining HubThe Bitcoin mining ban in China last year had collapsed its crypto markets. Despite that, the country has reemerged as a major bitcoin mining hub, according to research by the UK's University of Cambridge.
Asia Financial is owned by Capital Link International Holdings Ltd, 902, Wilson House 19-27 Wyndham Street, Central, Hong Kong. www.capitallinkintl.com
