Latest: Asia Stock Market News
Asian stocks fell in China, Japan, South Korea and India, but rose in Australia.
Nomura lowered its China economic growth forecast, citing dismal July activity data, the lingering impact of the pandemic, and the worst heatwave in six decades.
Japan's Nikkei closed above 29,000 for the first time in seven months and China and Hong Kong stocks rose. South Korea was down.
Bridgewater Associates' Alibaba stake was valued at $813 million at the end of the first quarter, Nasdaq.com said. The world's largest hedge fund retains stakes in Baidu and Tencent Music.
HKEX has suffered a notable decline in listings and trading at its two Hong Kong exchanges from both China's economic slowdown, plus lingering geopolitical tension.
China stocks slipped and Tokyo was flat. Sydney and Mumbai both rose 0.6% while South Korea edged up 0.2%.
Elliott made its move after losing faith in SoftBank founder Masayoshi Son's ability to turn around the company's fortunes after steep investment losses, the FT reported.
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%.
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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
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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.
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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
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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.
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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.
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