Snowflake, JD.com And Temu Parent PDD Are Among Top 8 Large Cap Losers Last Week (Aug 18-Aug 24): Are The Others In Your Portfolio?
- These eight large-cap stocks were the worst performers in the last week. Are they in your portfolio?
- 08/25/2024
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NetEase: The Post-Q2 Sell-Off Is A Buying Opportunity
- NetEase's Q2 showed top-line growth (+6.1% revenue, +11.6% gross profit) but a 17% drop in net income, leading to a 12% stock decline since my last analysis. AI-driven innovations and global expansion enhance NetEase's long-term potential; the gaming portfolio and dividend yield of 3.15% are key bullish factors. Despite competition and regulatory risks, FY25 could drive 25% price growth due to valuation recovery.
- 08/24/2024
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NetEase Stock Drops on Weaker-Than-Expected Profits
- NetEase (NTES) American depository receipts (ADRs) tumbled as the company's second-quarter profit failed to meet expectations despite growing video game revenue.
- 08/22/2024
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NetEase, Inc. (NTES) Q2 2024 Earnings Call Transcript
- NetEase, Inc. (NASDAQ:NTES ) Q2 2024 Earnings Conference Call August 22, 2024 8:00 AM ET Company Participants Brandi Piacente - President, Piacente Financial Communications William Ding - Founder, Director & CEO Bill Pang - VP, Corporate Development Conference Call Participants Alicia Yap - Citigroup Jialong Shi - Nomura Ritchie Sun - HSBC Yang Bai - CICC Lei Zhang - Bank of America Securities Lincoln Kong - Goldman Sachs Felix Liu - UBS Thomas Chong - Jefferies Alex Poon - Morgan Stanley Daniel Chen - JPMorgan Operator Good day, and welcome to the NetEase 2024 Second Quarter Earnings Conference Call. Today's conference is being recorded.
- 08/22/2024
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NetEase Announces Second Quarter 2024 Unaudited Financial Results
- HANGZHOU, China , Aug. 22, 2024 /PRNewswire/ -- NetEase, Inc. (NASDAQ: NTES and HKEX: 9999, "NetEase" or the "Company"), a leading internet and game services provider, today announced its unaudited financial results for the second quarter ended June 30, 2024. Second Quarter 202 4 Financial Highlights Net revenues were RMB25.5 billion (US$3.5 billion), an increase of 6.1% compared with the same quarter of 2023.
- 08/22/2024
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Cloud Music Inc. Reports First Half 2024 Financial Results
- HANGZHOU, China , Aug. 22, 2024 /PRNewswire/ -- Cloud Music Inc. (HKEX: 9899, "NetEase Cloud Music" or the "Company"), a leading interactive music streaming service provider in China, today announced its financial results for the first half of 2024 ended June 30, 2024. Summary of Key Financial Metrics (RMB in thousands, unless otherwise stated) Six months ended 30 June 2024 2023 (Unaudited) (Unaudited) Revenue 4,070,493 3,908,380 Gross profit 1,425,731 965,147 Profit before income tax 813,578 311,961 Profit for the period 809,949 293,750 Non-IFRS measure: Adjusted net profit (1) 880,749 331,893 First Half 2024 K ey Financial Highlights Revenue was RMB4.1 billion, an increase of 4.1% compared with RMB3.9 billion for the same period of 2023.
- 08/22/2024
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Youdao Reports Second Quarter 2024 Unaudited Financial Results
- HANGZHOU, China , Aug. 22, 2024 /PRNewswire/ -- Youdao, Inc. ("Youdao" or the "Company") (NYSE: DAO), an intelligent learning company with industry-leading technology in China, today announced its unaudited financial results for the second quarter ended June 30, 2024. Second Quarter 2024 Financial Highlights Total net revenues were RMB1.3 billion (US$181.9 million), representing a 9.5% increase from the same period in 2023.
- 08/22/2024
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NetEase Q2 Earnings Preview: Great Games On The Horizon, Great Financial Position
- NetEase, Inc. reports Q2 earnings pre-market on August 16th. Analysts expect $3.65B in revenue, $1.67 non-GAAP EPS, and $1.52 GAAP EPS. Expect updates on mobile games like Eggy Party and Naraka: Bladepoint Mobile, as well as margin improvements and financial strength.
- 08/06/2024
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Cloud Music Inc. to Report First Half 2024 Financial Results on August 22, 2024
- HANGZHOU, China , Aug. 5, 2024 /PRNewswire/ -- Cloud Music Inc. (HKEX: 9899 or the "Company"), a leading interactive music streaming service provider in China, today announced that it will report its financial results for the first half of 2024 ended June 30, 2024 on Thursday, August 22, 2024, after the Hong Kong market closes. The Company's management will host an earnings conference call at 7:00 p.m.
- 08/05/2024
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NetEase to Report Second Quarter 2024 Financial Results on August 22
- HANGZHOU, China , Aug. 5, 2024 /PRNewswire/ -- NetEase, Inc. (NASDAQ: NTES and HKEX: 9999, "NetEase" or the "Company"), a leading internet and game services provider, today announced that it will report financial results for the 2024 second quarter on Thursday, August 22, 2024, before the open of the U.S. markets. The earnings teleconference call with simultaneous webcast will take place at 8:00 a.m.
- 08/05/2024
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Youdao to Report Second Quarter 2024 Financial Results on August 22
- HANGZHOU, China , Aug. 5, 2024 /PRNewswire/ -- Youdao, Inc. ("Youdao" or the "Company") (NYSE: DAO), an intelligent learning company with industry-leading technology in China, today announced that it will report its second quarter 2024 financial results on Thursday, August 22, 2024, before the open of the U.S. markets. The earnings teleconference call with simultaneous webcast will take place at 6:00 a.m.
- 08/05/2024
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The Single Best Stock to Buy Under $100
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NetEase Cloud Music Partners with Timbaland's Beatclub™ to Revolutionise China's Beat Marketplace
- HANGZHOU, China , July 17, 2024 /PRNewswire/ -- Cloud Music Inc. (HKEX: 9899, "NetEase Cloud Music" or the "Company"), a leading interactive music streaming service provider in China, today announced that it has entered into a special partnership with Timbaland's Beatclub™ ("Beatclub") to unleash creativity and foster innovation across China's growing music scene. Under the collaboration, hundreds of signature, premium Beatclub beats will be introduced to NetEase Cloud Music's Beatsoul, China's premier beat transaction platform, marking a significant milestone in China's music industry.
- 07/17/2024
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NetEase: Undervalued In The Near Term
- NetEase's valuation contractions stem from lower growth expectations, but near-term alpha is possible if valuation multiple contractions are overextended. Regulatory pressures, economic conditions, and maturing game franchises impact revenue and EPS growth; strategic international expansion aims to offset these challenges. Despite short-term obstacles, the long-term strategy could yield higher-than-expected growth rates if well-executed; my 6-12 month price target suggests a 16.85% potential upside.
- 07/04/2024
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The 3 Best Chinese Stocks to Buy in June 2024
- The best Chinese stocks are in prime position for a rebound later this year. Ray Dalio, the billionaire behind the world's largest hedge fund, recently discussed the attractiveness of Chinese stocks amidst market uncertainty.
- 06/11/2024
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NetEase, Inc. (NTES) Q1 2024 Earnings Call Transcript
- NetEase, Inc. (NASDAQ:NTES ) Q1 2024 Earnings Conference Call May 23, 2024 7:00 AM ET Company Participants Brandi Piacente - President, Piacente Financial Communications Bill Pang - VP, Corporate Development Conference Call Participants Felix Liu - UBS Lei Zhang - Bank of America Securities Lincoln Kong - Goldman Sachs Ritchie Sun - HSBC Xueqing Zhang - CICC Thomas Chong - Jefferies Jialong Shi - Nomura Alex Poon - Morgan Stanley Daniel Chen - JPMorgan Operator Good day, and welcome to the NetEase 2024 First Quarter Earnings Conference Call. Today's conference is being recorded.
- 05/23/2024
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NetEase Announces First Quarter 2024 Unaudited Financial Results
- HANGZHOU, China , May 23, 2024 /PRNewswire/ -- NetEase, Inc. (NASDAQ: NTES and HKEX: 9999, "NetEase" or the "Company"), a leading internet and game services provider, today announced its unaudited financial results for the first quarter ended March 31, 2024. First Quarter 202 4 Financial Highlights Net revenues were RMB26.9 billion (US$3.7 billion), an increase of 7.2% compared with the first quarter of 2023.
- 05/23/2024
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Youdao Reports First Quarter 2024 Unaudited Financial Results
- HANGZHOU, China , May 23, 2024 /PRNewswire/ -- Youdao, Inc. ("Youdao" or the "Company") (NYSE: DAO), an intelligent learning company with industry-leading technology in China, today announced its unaudited financial results for the first quarter ended March 31, 2024. First Quarter 2024 Financial Highlights Total net revenues were RMB1.4 billion (US$192.8 million), representing a 19.7% increase from the same period in 2023.
- 05/23/2024
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NetEase Showcases Latest Game Advancements at 2024 Annual Product Launch Event
- HANGZHOU, China , May 20, 2024 /PRNewswire/ -- NetEase, Inc. (NASDAQ: NTES and HKEX: 9999, "NetEase" or the "Company"), one of China's leading internet and online game services providers, today announced an exciting product lineup, content reveals and plans for over 40 game franchises and products at its annual product launch event on May 20. The 120-minute online event showcased an array of NetEase's vibrant and diversified gaming offerings across genres and platforms.
- 05/20/2024
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Cloud Music Inc. Expands K-Pop Portfolio with Kakao Entertainment
- HANGZHOU, China , May 13, 2024 /PRNewswire/ -- Cloud Music Inc. (HKEX: 9899, "NetEase Cloud Music" or the "Company"), a leading interactive music streaming service provider in China, today announced that it has entered into a licensing agreement for digital music distribution ("the Agreement") with Kakao Entertainment Corp. ("Kakao Entertainment"), a leading entertainment company in South Korea, granting NetEase Cloud Music the right to distribute Kakao Entertainment's music catalog in China. Under the terms of the Agreement, the two companies will engage in diverse approaches to unlock more opportunities for Kakao Entertainment's vast and influential catalog as well as its prominent artists to effectively build influence among younger generation users in China.
- 05/13/2024
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Youdao to Report First Quarter 2024 Financial Results on May 23
- HANGZHOU, China , May 6, 2024 /PRNewswire/ -- Youdao, Inc. ("Youdao" or the "Company") (NYSE: DAO), an intelligent learning company with industry-leading technology in China, today announced that it will report its first quarter 2024 financial results on Thursday, May 23, 2024, before the open of the U.S. markets. The earnings teleconference call with simultaneous webcast will take place at 6:00 a.m.
- 05/06/2024
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Cloud Music Inc. Adds Expansive K-Pop Portfolio with JYP Entertainment Agreement
- HANGZHOU, China , April 29, 2024 /PRNewswire/ -- Cloud Music Inc. (HKEX: 9899, "NetEase Cloud Music" or the "Company"), a leading interactive music streaming service provider in China, today announced that it has entered into a licensing agreement for digital music distribution ("the Agreement") with JYP ENTERTAINMENT Corp. ("JYP Entertainment"), a leading entertainment company in South Korea, granting NetEase Cloud Music the right to distribute JYP Entertainment's music catalog in China. Under the terms of the Agreement, the two companies will leverage their musical prowess to jointly promote the presence of fan-favorite K-Pop artists from JYP Entertainment's catalog and bring more high-quality music to Chinese music lovers.
- 04/29/2024
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Youdao Filed 2023 Annual Report on Form 20-F
- HANGZHOU, China , April 25, 2024 /PRNewswire/ -- Youdao, Inc. ("Youdao" or the "Company") (NYSE: DAO), an intelligent learning company with industry-leading technology in China, today announced that the Company had filed its annual report on Form 20-F for the full year ended December 31, 2023 with the U.S. Securities and Exchange Commission. The annual report is available on the Company's investor relations website at ir.youdao.com and on the SEC's website at www.sec.gov.
- 04/25/2024
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Microsoft Could Get Boost From NetEase Deal Returning 'StarCraft' and Other Games to China
- Microsoft (MSFT) and NetEase (NTES) announced a renewed publishing deal that would bring "World of Warcraft" and other popular video games back to China.
- 04/10/2024
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Microsoft and NetEase to re-launch Warcraft game in China, ending feud
- Chinese video games giant NetEase said it is working with Microsoft to bring popular games including "World of Warcraft" back to the country after a public fallout that ended a decade-long partnership in 2023.
- 04/09/2024
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Blizzard Entertainment and NetEase Renew Agreement to Bring Beloved Titles Back to China; Microsoft Gaming, NetEase Enter Broader Collaboration
- IRVINE, Calif. & REDMOND, Wash. & HANGZHOU, China--(BUSINESS WIRE)--Beloved video game titles from Blizzard Entertainment that captivated millions of players in China will return to the market sequentially, beginning this summer, under a renewed publishing deal Blizzard Entertainment, Microsoft Gaming, and NetEase (NASDAQ: NTES and HKEX: 9999) announced today. After continuing discussions over the past year, both Blizzard Entertainment and NetEase are thrilled to align on a path forward to once.
- 04/09/2024
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The 3 Best Chinese Stocks to Buy in April 2024
- As the Chinese economy continues to rebound, investors are searching for the best Chinese stocks to buy in April. Despite recent geopolitical tensions, China remains a powerhouse of economic activity.
- 04/01/2024
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Dividend Watch: 3 Companies Boosting Payouts
- Growing dividend payouts reflect a company's successful nature, opting to share a growing portion of profits with shareholders.
- 03/08/2024
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NetEase, Inc. (NTES) Q4 2023 Earnings Call Transcript
- NetEase, Inc. (NTES) Q4 2023 Earnings Call Transcript
- 02/29/2024
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Cloud Music Inc. Reports Fiscal Year 2023 Financial Results
- HANGZHOU, China , Feb. 29, 2024 /PRNewswire/ -- Cloud Music Inc. (HKEX: 9899, "NetEase Cloud Music" or the "Company"), a leading interactive music streaming service provider in China, today announced its financial results for the fiscal year 2023 ended December 31, 2023. Summary of Key Financial and Operating Metrics (RMB in thousands, unless otherwise stated) Year ended 31 December 2023 2022 (Unaudited) (Unaudited) Financial Metrics Revenue 7,866,992 8,992,221 Gross profit 2,102,670 1,293,118 Profit/(Loss) before income tax 767,679 (204,479) Profit/(Loss) for the year 734,182 (221,494) Non-IFRS measure: Adjusted net profit/(loss) (1) 818,500 (114,573) Operating Metrics Online music services -MAUs (million) 205.9 189.4 -Monthly paying users (thousand) 44,120.0 38,267.1 -Monthly ARPPU (RMB) 6.9 6.6 Social entertainment services -Monthly paying users (thousand) 1,602.9 1,332.3 -Monthly ARPPU (RMB) 178.6 326.0 Fiscal Year 2023 Key Financial and Operating Highlights Revenue was RMB7.9 billion, a decrease of 12.5% compared with RMB9.0 billion in 2022.
- 02/29/2024
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Youdao Reports Fourth Quarter and Fiscal Year 2023 Unaudited Financial Results
- HANGZHOU, China , Feb. 29, 2024 /PRNewswire/ -- Youdao, Inc. ("Youdao" or the "Company") (NYSE: DAO), an intelligent learning company with industry-leading technology in China, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2023. Fourth Quarter 2023 Financial Highlights Total net revenues were RMB1.5 billion (US$208.5 million), representing a 1.8% increase from the same period in 2022.
- 02/29/2024
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NetEase (NTES) to Report Q4 Earnings: What's in the Offing?
- NetEase's (NTES) Q4 results are expected to benefit from the new additions to its gaming portfolio, which have driven user growth.
- 02/27/2024
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NetEase Earnings: Mobile Games Are Here To Stay And Will Dominate
- NetEase is expected to report decent full-year results, with improved operational efficiency and successful game releases. The company has a strong financial position with a large cash reserve and minimal debt. Revenues have been mixed, but margin expansions and improved ROA and ROE indicate positive performance.
- 02/23/2024
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Hoping For Better Luck, HK Stocks Enter The Year Of The Dragon
- Since its launch in 1969, the Hang Seng has always risen in the dragon years, with gains averaging around 14%. But any rally this time could be hampered by uncertainties over the U.S. presidential election and interest rate policy.
- 02/22/2024
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Cloud Music Inc. to Report Fiscal Year 2023 Financial Results on February 29, 2024
- HANGZHOU, China , Feb. 7, 2024 /PRNewswire/ -- Cloud Music Inc. (HKEX: 9899 or the "Company"), a well-known online music platform featuring a vibrant content community, today announced that it will report its financial results for the fiscal year of 2023 ended December 31, 2023 on Thursday, February 29, 2024, after the Hong Kong market closes. The Company's management will host an earnings conference call at 7:00 p.m.
- 02/07/2024
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Youdao to Report Fourth Quarter and Fiscal Year 2023 Financial Results on February 29
- HANGZHOU, China , Feb. 7, 2024 /PRNewswire/ -- Youdao, Inc. ("Youdao" or the "Company") (NYSE: DAO), an intelligent learning company with industry-leading technology in China, today announced that it will report its fourth quarter and fiscal year 2023 financial results on Thursday, February 29, 2024, before the open of the U.S. markets. The earnings teleconference call with simultaneous webcast will take place at 5:00 a.m.
- 02/07/2024
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Chinese stocks struggle as government tries to stabilize markets
- China's stocks have endured serious declines, with the median stock down over 20% amid government missteps in stabilizing markets. Beijing has been pursuing a piecemeal strategy to inject stimulus into select sectors like real estate to prop up growth.
- 02/05/2024
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3 Video Game Stocks to Play as the Metaverse Takes Off
- 2023 was rough for the video gaming industry; the sector slowed from industry-wide layoffs to stagnant consumer demand. However, the start of 2024 brings a new dawn for gamers as exciting gaming events, like the New York Game Awards and the “oh so cool” CES 2024, spice up gamers' appetite for upcoming title announcements and cool tech.
- 01/29/2024
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3 Video Game Stocks to Play as the Metaverse Takes Off
- 2023 was rough for the video gaming industry; the sector slowed from industry-wide layoffs to stagnant consumer demand. However, the start of 2024 brings a new dawn for gamers as exciting gaming events, like the New York Game Awards and the “oh so cool” CES 2024, spice up gamers' appetite for upcoming title announcements and cool tech.
- 01/25/2024
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These Oversold Chinese Stocks Are Primed to Rebound
- It's been a tough couple of months for leading Chinese stocks. Worries about a slowdown in the world's second-largest economy, particularly in the slumping real estate sector, have hurt China's stock market.
- 01/24/2024
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3 top rated Chinese stocks in prime value territory
- As China's economy continues to face headwinds entering the new year, recent data has unveiled a harsh stock market sell-off, impacting U.S.-listed Chinese stocks such as Alibaba NYSE: BABA, Baidu NASDAQ: BIDU, and NetEase NASDAQ: NTES.
- 01/23/2024
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China quietly pulls draft gaming rules from website
- Beijing has quietly pulled the proposed curbs on the video game industry from the official website, weeks after the draft guidelines wiped tens of billions of dollars off the market value of local titans. The link to the draft rules was no longer accessible as of this morning, as first reported by Reuters.
- 01/22/2024
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China regulator removes draft video game rules from website; shares jump
- China's gaming regulator has removed from its website rules it proposed last month aimed at curbing spending and rewards that encourage playing video games, checks by Reuters on Tuesday showed, in a move that boosted gaming company shares.
- 01/22/2024
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NetEase: A Worthy Buy Despite Regulatory Risks
- NetEase Inc is recommended as a buy with estimated per share values of $86.39, $98.15, and $104.17 in different scenarios. The recent drop in NetEase's share price due to new gaming regulations may be an overreaction from the market. The company's gaming division has historically shown decent revenue growth rates and operates with similar cost structures as peer companies.
- 01/19/2024
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3 Communication Services Stocks to Buy as the Sector Keeps Growing
- Meta Platforms (META), Telefonica Brasil (SAM) and NetEase (NTES) are three communication services stocks that you can look into as the sector continues to grow on expectations of a Fed rate cut.
- 01/16/2024
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Best Income Stocks to Buy for January 15th
- PAX, DBSDY and NTES made it to the Zacks Rank #1 (Strong Buy) income stocks list on January 15, 2024.
- 01/15/2024
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New Strong Buy Stocks for January 15th
- CBT, BROS, WRK, ROCK and CBOE have been added to the Zacks Rank #1 (Strong Buy) List on January 15, 2024.
- 01/15/2024
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10 Top Strong Buy Stocks That Can Soar 20% or More From Here
- As the stock market enters a new year, some investors are still nervous. For many sectors, 2023 brought significant turbulence as companies battled shifting macroeconomic tides and rising uncertainty that hasn't completely subsided yet.
- 01/11/2024
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Contrarian Outlook: The Bull Case for Top Ranked Chinese Tech Stocks
- Although many investors have been burned trying to buy Chinese Technology stocks over the better part of the last three years, current valuations along with other bullish catalysts make them more compelling than ever. The long China tech thesis is further bolstered by the fact that so many investors have been hurt trying to buy these stocks for so long, that the narrative now suggests many investors are holding large short positions.
- 01/10/2024
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2 Stocks to Tap Improving Prospects in the Software & Services Industry
- The Internet-Software & Services industry is in recovery mode even as an economic slowdown looms large. NTES and OKTA are a couple that still look good.
- 01/05/2024
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Virtual Reality Ventures: 3 Stocks Pioneering Immersive Technology
- Virtual reality ( VR ) had its peak in 2023 alongside artificial intelligence ( AI ). They are already part of the technology of this new era.
- 01/04/2024
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Swinging With Bollinger Bands
- While I typically focus on value investing, there is a swing trading strategy I like that uses a combination of GuruFocus' All-in-One Screener and Interactive Charts. This strategy involves a technical analysis tool called Bollinger Bands (or BB for short).
- 01/03/2024
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Tencent And NetEase Stocks Continue To Rebound As China Reportedly Ousts Official Who Proposed New Gaming Restrictions
- The Chinese government has ousted a top official in charge of regulating the country's gaming industry, according to reports, in a likely effort to stem the damage from a stock market rout over proposed restrictions on online games in late December.
- 01/03/2024
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China's gaming stocks climb on report regulatory official removed
- Chinese gaming stocks rose on Wednesday to outperform a weak broader market, after Reuters reported China removed a gaming regulatory official.
- 01/02/2024
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3 Tech Stocks Suited Nicely for Income Investors
- Investors love tech stocks, as their growth potential is undoubtedly promising. And for those looking to blend tech exposure paired with quarterly payouts, these three stocks fit that criteria.
- 12/28/2023
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NetEase, Tencent shares rebound after China voices support for gaming industry
- Recently beaten-down China online gaming stocks rebounded on Wednesday in Hong Kong on news of a more conciliatory tone on the sector by the country's top gaming regulator.
- 12/27/2023
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2024 could turn into a ‘trader's market.' Here's how this strategist says you can make the most of that.
- The S&P 500 index SPX has three days left this year to try for a fresh record high, which in theory, shouldn't be so hard with a Santa Rally all but teed up.
- 12/27/2023
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3 Growth Stocks to Buy BEFORE the New Year's Eve Ball Drop
- As we prepare to ring in 2024, there is optimism that growth stocks could continue to rebound to greater highs next year. Interest rate cuts expected by April may benefit high-growth companies that had difficulty accessing capital last year.
- 12/26/2023
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China Approves 105 Video Games After Tencent, NetEase Dive On Proposed New Gaming Rules
- China OK'd 105 video games as regulators try to ease concerns after proposed new rules slammed Tencent, NetEase and other gaming stocks Friday.
- 12/25/2023
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China's potential new gaming rules will hit smaller developers more, analyst says
- China's proposed gaming rules would hit smaller developers more than large ones, while also reducing overall online advertising revenue, according to UBS.
- 12/24/2023
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Why NetEase, Huya, and Gaotu Techedu Stocks All Dropped Today
- Two years ago, a raft of Chinese laws regulating education activities crashed the stocks of for-profit education companies. Today, China released new draft laws that could crush the gaming sector.
- 12/22/2023
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Shares Of Tencent And NetEase Nosedive After China Proposes New Online Gaming Restrictions
- A Chinese government regulator released new draft regulations targeting spending and engagement on online games on Friday, causing listed shares of major domestic gaming giants to crater amid fears of another crackdown on video games in one of the world's largest markets for the medium.
- 12/22/2023
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NetEase sinks 20%, Tencent 11% after China proposes new rules for online gaming companies
- Shares of Chinese NetEase Inc. and Tencent Holdings Inc. fell sharply on Friday after authorities announced draft rules to crack down on spending and rewards in online gaming.
- 12/22/2023
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Tencent, Netease shares plummet on new China online gaming guidelines
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Santa Claus Rally Sets In: 4 Stocks From Top Sectors to Play
- Tap top-ranked Otter Tail (OTTR), Rollins (ROL), DaVita (DVA) and NetEase (NTES) -- that come from top-ranked sectors too -- should realize the ongoing Fed-induced Santa Claus rally in 2023.
- 12/20/2023
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NetEase: A Strong Defensive Stock In China's Intensely Bearish Landscape
- NetEase is a lesser-known company in the China KWEB Internet ETF, but has strong fundamentals and potential for recovery. The company is a global market leader in mobile gaming and has diversified into other areas such as music streaming and online education. NetEase's valuation is currently discounted, but has the potential for a modest lift as China's economy slowly heals and consumer confidence improves.
- 12/20/2023
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5 Non-U.S. Stocks to Buy as Wall Street Fires on All Cylinders
- We have selected five high-flying non-U.S. companies that have strong potential for 2024. These are: NVO, NTES, TM, PDD, STLA.
- 12/18/2023
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3 Wealth Building Internet Stocks to Buy as 2024 Approaches
- Investing in internet-driven companies has been one of the golden eggs of producing wealth since the dot-com bubble which produced several of the world's wealthiest people.
- 12/15/2023
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China stocks see major selloff on economic risks
- Chinese stocks face pressure Friday over the nation's economic woes and slowing GDP growth. Yahoo Finance Markets Reporter Jared Blikre analyzes the drivers behind weaknesses in publicly traded Chinese equities and stocks with exposure to China.
- 12/08/2023
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3 must-own China stocks for the Year of the Dragon
- In the 12-year cycle of animals in the Chinese zodiac, 2024 will be the Year of the Dragon. If equity investors get their way, it will be a green dragon.
- 12/08/2023
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3 Best Momentum Stocks to Buy Using the Driehaus Strategy
- Stocks like Abercrombie & Fitch (ANF), Amphastar Pharmaceuticals (AMPH) and NetEase (NTES) have been selected as the momentum picks for the day using the Driehaus strategy.
- 12/05/2023
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BYD, Netease, Luzhou Laojiao Favored, Morningstar Says
- Lorraine Tan, director of Asia equity research at Morningstar, discusses the outlook for the US economy, Federal Reserve policy and the implications for financial markets. She also talks about the opportunities she sees in China.
- 12/04/2023
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The 3 Best Virtual Reality Stocks That Will Mint Future Millionaires
- Despite widespread economic concerns, Americans are actively engaging in holiday spending. While broader economic worries persist, individuals are significantly increasing expenditures on seasonal gifts.
- 11/29/2023
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4 Must-Buy Momentum Stocks Using the Driehaus Strategy
- Stocks like Stride (LRN), EMCOR Group (EME), NetEase (NTES), and NVIDIA (NVDA) have been selected as the momentum picks for the day using the Driehaus strategy.
- 11/21/2023
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Are You Looking for a Top Momentum Pick? Why NetEase (NTES) is a Great Choice
- Does NetEase (NTES) have what it takes to be a top stock pick for momentum investors? Let's find out.
- 11/16/2023
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NICE to Report Q3 Earnings: Will Strong Portfolio Aid Growth?
- Nice's (NICE) third-quarter 2023 performance is expected to benefit from strong CXone adoption, robust customer engagement and sustained cloud momentum.
- 11/14/2023
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Is a Surprise Coming for NetEase (NTES) This Earnings Season?
- NetEase (NTES) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
- 11/14/2023
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3 Top-Ranked Tech Stocks to Buy for Income
- Dividend-paying stocks are not always 'boring,' as many exciting companies from the technology sector also reward their shareholders with payouts.
- 11/13/2023
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Is a Beat Likely for NetEase (NTES) This Earnings Season?
- NetEase's (NTES) third-quarter 2023 results are likely to reflect user growth driven by strength in the online gaming portfolio.
- 11/13/2023
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3 Top-Ranked Stocks Breaking 52-Week Highs
- Stocks nearing or breaking 52-week highs reflect considerable momentum, with positive earnings estimates from analysts commonly providing the fuel needed to continue climbing.
- 11/09/2023
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AI Innovation: NetEase Drives Engagement With User-Generated Content
- NetEase is poised to disclose its third quarter earnings on November 16, amid a challenging period where its revenue growth has been impacted by the cessation of its partnership with Blizzard. NetEase has demonstrated remarkable resilience, steadily growing year over year in a competitive market dominated by larger players like Tencent, indicating a strong market foothold. With a forward PEG ratio of 1.01x, NetEase's valuation is considered reasonable when compared to its industry peers, especially given the improving margin trends.
- 11/08/2023
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3 Buy-Rated Tech Stocks Boasting Bright Outlooks
- Tech stocks have become a staple in portfolios, constantly hogging attention thanks to their explosive growth characteristics that often lead to share outperformance.
- 11/07/2023
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EBAY Gears Up to Report Q3 Earnings: What's in the Offing?
- EBAY's third-quarter 2023 results are likely to reflect the impacts of strong momentum across Promoted Listings amid softness in the marketplace platform.
- 11/06/2023
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Youdao to Report Third Quarter 2023 Financial Results on November 16
- HANGZHOU, China , Oct. 26, 2023 /PRNewswire/ -- Youdao, Inc. ("Youdao" or the "Company") (NYSE: DAO), an intelligent learning company with industry-leading technology in China, today announced that it will report its third quarter 2023 financial results on Thursday, November 16, 2023, before the open of the U.S. markets. The earnings teleconference call with simultaneous webcast will take place at 5:00 a.m.
- 10/26/2023
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NetEase (NTES) Recently Broke Out Above the 20-Day Moving Average
- After reaching an important support level, NetEase (NTES) could be a good stock pick from a technical perspective. NTES surpassed resistance at the 20-day moving average, suggesting a short-term bullish trend.
- 10/25/2023
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2 Reasons NetEase Is a Stock to Watch Now
- NetEase grew revenue from 30 million yuan to 97 billion yuan. The internet technology company is well positioned to expand its business in China and overseas.
- 10/21/2023
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Has NetEase (NTES) Outpaced Other Computer and Technology Stocks This Year?
- Here is how NetEase (NTES) and Upstart Holdings, Inc. (UPST) have performed compared to their sector so far this year.
- 10/20/2023
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NetEase (NTES) is a Great Momentum Stock: Should You Buy?
- Does NetEase (NTES) have what it takes to be a top stock pick for momentum investors? Let's find out.
- 10/17/2023
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Why Investors Need to Take Advantage of These 2 Computer and Technology Stocks Now
- Finding stocks expected to beat quarterly earnings estimates becomes an easier task with our Zacks Earnings ESP.
- 10/17/2023
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5 Best Stocks to Invest in for Remarkable Earnings Growth
- Invest in stocks like e.l.f. Beauty (ELF), Hilton Worldwide (HLT), Wingstop (WING), Par Pacific (PARR) and NetEase (NTES) as of now for superb earnings growth.
- 10/16/2023
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AI Stocks AVGO And ANET Lead 5 Resilient Names Near Buy Points
- AI stocks Broadcom and Arista lead five names near buy points all sporting a flat base, showing resilience in a tough market.
- 10/14/2023
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3 Chinese Stocks Ready to Rally
- It's been a challenging year for the Chinese markets with the Shanghai (SSE Composite Index) declining by 6%. Macroeconomic headwinds have played spoilsport.
- 10/09/2023
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3 Low-Beta Stocks to Buy for Technology Exposure
- Targeting low-beta stocks can help shield investors against volatility, as these stocks are less susceptible to the market's movements.
- 10/05/2023
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Are Computer and Technology Stocks Lagging NetEase (NTES) This Year?
- Here is how NetEase (NTES) and nVent Electric (NVT) have performed compared to their sector so far this year.
- 10/04/2023
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Best Income Stocks to Buy for October 4th
- APA, NTES and RRC made it to the Zacks Rank #1 (Strong Buy) income stocks list on October 4, 2023.
- 10/04/2023
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New Strong Buy Stocks for October 4th
- SCS, APA, BRLT, FLWS and NTES have been added to the Zacks Rank #1 (Strong Buy) List on October 4, 2023.
- 10/04/2023
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2 Important Things Smart Investors Know About NetEase Stock
- NetEase operates a diverse business model. NetEase has a founder CEO who owns owns 45% of the company.
- 09/29/2023
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Dive Into Dividends: Top 5 Bargain Growth Stocks to Buy
- Applied Materials (AMAT), PulteGroup (PHM), Arcos Dorados (ARCO), McKesson (MCK) and NetEase (NTES) could be compelling picks for investors in the current scenario.
- 09/27/2023
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Better Chinese Tech Stock: NetEase vs. Bilibili
- NetEase and Bilibili both struggled with tighter gaming restrictions in China. NetEase continues to generate stable sales growth with rising profits.
- 09/27/2023
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Grab These 7 Winning Tech Stocks on Sale Now
- While many investors are clamoring for the most popular tech stocks to buy, it's vital to recognize that many of these equities have already posted staggering gains. With the economic landscape currently dotted with concerns — from persistent inflation to alarming job cuts — it might be wise to turn our attention towards more inconspicuous opportunities.
- 09/20/2023
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Buy These 3 Top-Ranked Tech Stocks for Passive Income
- Income investors are typically less attracted to the tech sector, as these companies frequently use cash to fuel growth and spur innovation. However, these three pay their shareholders handsomely.
- 09/14/2023
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Dividend Watch: 3 Companies Boosting Payouts
- Shareholders can receive many positive announcements, such as upgraded guidance or news of a hot acquisition. Of course, dividend raises also fall into this category.
- 09/12/2023
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BILL Expands SMB Footprint with New Integrated Solution
- Bill Holdings' (BILL) latest offering, Financial Operations Platform, will help expand its footprint among SMBs.
- 09/11/2023
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The 3 Best Emerging Markets Stocks to Buy in September
- In the financial markets, one of the most important principles revolves around the principle of diversification. While it is accurate that there are fully developed economies such as the United States and many European countries, there are emerging economies that present great opportunities for investors.
- 09/05/2023
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Gamer Gains: 3 Video Game Stocks for Today's Young Investor
- The video game industry has experienced massive growth in recent years. Its development traces its modest roots as a casual family entertainment system to its current widespread appeal and pop-culture impact.
- 09/02/2023
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Top-Rated Tech Stocks to Buy After Earnings
- The bottom line expansion of these tech companies is very attractive right now and they give investors plenty of options for growth in the portfolio.
- 08/31/2023
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Have Investors Become Too Bearish on China? 3 Top Ranked Stocks to Watch
- China's economy has been slammed recently by a multitude of concerning developments. The real estate market is again going through a painful deleveraging, demographic issues are putting pressure on labor force participation and economic growth is being challenged by a wave of deflation.
- 08/30/2023
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China stocks see gains amid property market pressures
- Yahoo Finance Markets Reporter Ines Ferre examines Chinese stocks, such as Alibaba (BABA), JD.com (JD), and Baidu (BIDU), after investors bought the dip on China's markets, while also taking a look at the property manager Country Garden (2007.HK) first-half results amid liquidity pressures.
- 08/30/2023
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5 Stocks With Recent Dividend Hike Amid August Volatility
- One should consider stocks that have recently raised their dividend payments. Five such stocks are: AAON, FAF, TD, RY, NTES.
- 08/30/2023
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Buy These 3 Low-Beta Stocks to Navigate Volatility
- With volatility creeping back into the market, blending a layer of defense into portfolios could be highly beneficial. And these three low-beta stocks provide precisely that.
- 08/25/2023
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NetEase, Inc. (NTES) Q2 2023 Earnings Call Transcript
- NetEase, Inc. (NASDAQ:NTES ) Q2 2023 Earnings Conference Call August 24, 2023 8:00 AM ET Company Participants Margaret Shi - Senior Director of IR Charles Yang - CFO William Ding - CEO Conference Call Participants Alex Poon - Morgan Stanley Yang Bai - CICC Ritchie Sun - HSBC Felix Liu - UBS Lincoln Kong - Goldman Sachs Kenneth Fong - Credit Suisse Natalie Wu - Haitong International Operator Good day, and welcome to the NetEase 2023 Second Quarter Earnings Conference Call. Today's conference is being recorded.
- 08/24/2023
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2 Top Ranked Chinese Tech Stock Investors Can Buy Now
- Although much of the economic news coming out of China recently is quite negative, it doesn't mean there aren't still opportunities in the stock market. Especially when you consider markets bottom on bad news, it may actually be a perfect time to start picking up shares in the top stocks.
- 08/23/2023
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Is NetEase (NTES) Stock Outpacing Its Computer and Technology Peers This Year?
- Here is how NetEase (NTES) and Nvidia (NVDA) have performed compared to their sector so far this year.
- 08/23/2023
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Investing in the Immersive Future With Matterport and NetEase
- In the world of investing, you are either on the cutting edge or you are left behind. And right now, the cutting edge is, without a doubt, virtual reality.
- 08/21/2023
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Chinese Equities on the Rise: 3 Top Ranked Stocks to Buy Now
- After getting hit hard in 2022 along with the rest of global equity markets, Chinese stocks are making a bull run.
- 08/03/2023
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Youdao to Report Second Quarter 2023 Financial Results on August 24
- HANGZHOU, China , Aug. 3, 2023 /PRNewswire/ -- Youdao, Inc. ("Youdao" or the "Company") (NYSE: DAO), an intelligent learning company with industry-leading technology in China, today announced that it will report its second quarter 2023 financial results on Thursday, August 24, 2023, before the open of the U.S. markets. The earnings teleconference call with simultaneous webcast will take place at 6:00 a.m.
- 08/03/2023
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4 Factor Dividend Growth Portfolio - Deep Dive Analysis
- My portfolio based on the stock selection methodology of The Dow Jones US Dividend 100 Index has returned 21.72% since its inception 8.5 months ago. This deep dive analysis tested the contribution that each of the 4 factors played on the final return of the portfolio. I performed simple linear regression analysis and single and multi-factor analysis which generated surprising results.
- 07/21/2023
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Dividends: 3 Tech Stocks for Income Investors to Buy
- With tech's massive run in 2023, many are undoubtedly seeking exposure to the sector. And for income investors, these 3 dividend-paying tech stocks could be the answer.
- 07/18/2023
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3 Software & Services Stocks with Improving Prospects in 2023
- The Internet-Software & Services industry is in recovery mode even as an economic slowdown looms large. However, NTES, SABR and OKTA look good.
- 07/17/2023
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2 Undervalued Video Game Stocks to Buy in July
- With 133 million players and a low price-to-sales valuation, Ubisoft might be the best bargain in video games right now. Chinese gaming company Netease is a profitable company with a promising future.
- 07/16/2023
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NetEase: A Good Deal At This Price Point
- Chinese video game company NetEase has a lot of potential for future growth in the mobile gaming industry. Solid financials also confirm that the company is being operated very commendably. NetEase's success in mobile gaming and its potential for innovation make it a promising long-term investment.
- 07/15/2023
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Limit Volatility With These 3 Low-Beta Tech Stocks
- For those who seek exposure to tech and want to limit volatile price swings, all three of these low-beta stocks could be great considerations. And as of late, all three have seen optimism among analysts.
- 06/29/2023
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5 Good Reasons to Buy Tech Stocks Today
- If there's one sector that consistently generates strong capital appreciation, it's technology.
- 06/29/2023
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NetEase (NTES) Just Reclaimed the 20-Day Moving Average
- From a technical perspective, NetEase (NTES) is looking like an interesting pick, as it just reached a key level of support. NTES recently overtook the 20-day moving average, and this suggests a short-term bullish trend.
- 06/28/2023
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Under The Radar Strength In Commodity And Emerging Market Stocks (Technical Analysis)
- Emerging markets and commodities are showing strength amid a weak USD, which has a historical negative correlation with these sectors. Risk-on currencies like the Australian Dollar and Canadian Dollar have broken out against the USD, providing a supportive backdrop for emerging markets and commodities. If the USD breaks below its support, it could lead to a further decline, potentially triggering powerful uptrends in commodity and emerging market stocks.
- 06/18/2023
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Surging Earnings Estimates Signal Upside for NetEase (NTES) Stock
- NetEase (NTES) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.
- 06/12/2023
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Wall Street Analysts Believe NetEase (NTES) Could Rally 28.52%: Here's is How to Trade
- The average of price targets set by Wall Street analysts indicates a potential upside of 28.5% in NetEase (NTES). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.
- 06/07/2023
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All You Need to Know About NetEase (NTES) Rating Upgrade to Strong Buy
- NetEase (NTES) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
- 06/06/2023
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Best Momentum Stocks to Buy for June 6th
- ELF, VSAT and NTES made it to the Zacks Rank #1 (Strong Buy) momentum stocks list on June 6, 2023.
- 06/06/2023
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5 Stocks to Watch on Dividend Hikes Amid Economic Turmoil
- Investors may keep a tab on stocks like LOW, NTES, CM, HLNE and IEX, which have lately hiked their dividend payments.
- 06/01/2023
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NetEase, Inc. (NTES) Q1 2023 Earnings Call Transcript
- NetEase, Inc. (NASDAQ:NTES ) Q1 2023 Earnings Conference Call May 25, 2023 8:00 AM ET Company Participants Margaret Shi - Senior Director of IR Charles Yang - CFO William Ding - CEO Conference Call Participants Alicia Yap - Citigroup Xueqing Zhang - CICC Felix Liu - UBS Kenneth Fong - Credit Suisse Lei Zhang - Bank of America Securities Lincoln Kong - Goldman Sachs Alex Poon - Morgan Stanley Natalie Wu - Haitong International Operator Good day, and welcome to the NetEase 2023 First Quarter Earnings Conference Call. Today's conference is being recorded.
- 05/25/2023
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5 Best Chinese Stocks to Buy
- Chinese stocks have traversed a tough road over the past year, but nimble investors might be able to find opportunity among these top-rated names.
- 05/18/2023
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Michael Burry of The Big Short fame doubled down on China bets. Here's what other investors are saying
- Quarterly U.S. regulatory filings this week revealed that Scion Asset Management, the hedge fund founded by Michael Burry, doubled down on China stock bets. The question is, should investors?
- 05/17/2023
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3 Gaming and Esports Stocks With Huge Return Potential for Long-Term Investors
- The long-term potential of gaming and esports stocks is a product of impressive expected growth in the esports market. The global esports market was valued at $1.44 billion in 2022.
- 05/07/2023
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Youdao to Report First Quarter 2023 Financial Results on May 25
- HANGZHOU, China , May 4, 2023 /PRNewswire/ -- Youdao, Inc. ("Youdao" or the "Company") (NYSE: DAO), a leading technology-focused intelligent learning company in China, today announced that it will report its first quarter 2023 financial results on Thursday, May 25, 2023, before the open of the U.S. markets. The earnings teleconference call with simultaneous webcast will take place at 6:00 a.m.
- 05/04/2023
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V&M Breakouts: Top Long-Term Growth And Dividend Stocks For May 2023
- The May 2022 total return portfolio for 1-year is up +17.09%, and the May 2021 2-year portfolio is up 21.33%, not adjusted for greater than 2%+ dividends. The first May 2020 portfolio had +66.98% 2-year returns.
- 05/01/2023
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Limit Volatility With These 3 Low-Beta Tech Stocks
- While low-beta tech stocks may not experience the same rapid growth as higher-beta technology stocks, they can provide steady, long-term growth potential due to their stability.
- 04/04/2023
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7 Hot Gaming Stocks to Invest in Now
- For this column, I will define “hot gaming stocks” as companies in the gambling and video-game sectors that have positive momentum. In the U.S., gambling stocks are generally poised to generate strong results.
- 03/25/2023
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Does NetEase (NTES) Have the Potential to Rally 33.54% as Wall Street Analysts Expect?
- The consensus price target hints at a 33.5% upside potential for NetEase (NTES). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.
- 03/20/2023
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China to import 27 new video games, including Tencent, NetEase titles
- China's online gaming regulator on Monday granted licences to 27 foreign games in March including titles to be published by Tencent Holdings and NetEase.
- 03/20/2023
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Are China Internet Stocks Set Up To Rally In The Second Quarter?
- Chinese Internet stocks are behaving like an unruly group of children rather than marching together in unison. E-commerce platform PDD Holdings Inc. (NASDAQ: PDD) is among large-cap price leaders.
- 03/08/2023
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NetEase, Inc. (NTES) Q4 2022 Earnings Call Transcript
- NetEase, Inc. (NASDAQ:NTES ) Q4 2022 Earnings Conference Call February 23, 2023 7:00 AM ET Company Participants Margaret Shi - Director of IR Charles Yang - CFO William Ding - CEO Conference Call Participants Alicia Yap - Citigroup Yang Bai - CICC Lincoln Kong - Goldman Sachs Natalie Wu - Haitong International Alex Poon - Morgan Stanley Felix Liu - UBS Operator Good day and welcome to the NetEase 2022 Fourth Quarter and Yearend Earnings Conference Call. Today's conference is being recorded.
- 02/23/2023
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Why Earnings Season Could Be Great for NetEase (NTES)
- NetEase (NTES) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
- 02/22/2023
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Cloud Music Inc. to Report Fiscal Year 2022 Financial Results on February 23
- HANGZHOU, China , Feb. 16, 2023 /PRNewswire/ -- Cloud Music Inc. (HKEX: 9899, "NetEase Cloud Music" or the "Company"), a leading interactive music streaming service provider in China, today announced that it will report its financial results for the fiscal year 2022 on Thursday, February 23, 2023, after the Hong Kong market closes. The Company's management will host an earnings conference call at 7:00 p.m Beijing/Hong Kong Time on Thursday, February 23, 2023 (6:00 a.m.
- 02/16/2023
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Video Game Stocks Hit Reset Button, Face Iffy 2023
- Amid an uncertain economy, video game fans are being more cautious with their spending, adding more woes for the beaten-down sector. The post Video Game Stocks Hit Reset Button, Face Iffy 2023 appeared first on Investor's Business Daily.
- 02/10/2023
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NTES Stock: 1.71% Decrease Explanation
- The stock price of NetEase Inc (NASDAQ: NTES) fell by 1.71% in the most recent trading session. This is why.
- 02/07/2023
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China stocks and ETFs drop after the US shoots down suspected spy balloon, raising tensions between the economic superpowers
- The "damage has been done on the geopolitical front" between the US and China, one analyst said after the US destroyed China's high-altitude balloon.
- 02/06/2023
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Youdao to Report Fourth Quarter and Fiscal Year 2022 Financial Results on February 23
- HANGZHOU, China , Feb. 2, 2023 /PRNewswire/ -- Youdao, Inc. ("Youdao" or the "Company") (NYSE: DAO), a leading technology-focused intelligent learning company in China, today announced that it will report its fourth quarter and fiscal year 2022 financial results on Thursday, February 23, 2023, before the open of the U.S. markets. The earnings teleconference call with simultaneous webcast will take place at 5:00 a.m.
- 02/02/2023
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NetEase Update: Back To A Reasonable Valuation (Rating Downgrade)
- With the stock being up by +50% in just a couple of months, it's worth considering if it's still a good buy. The recent financial report demonstrated substantial progress in stabilizing the company's operations.
- 01/26/2023
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NetEase Offers Value In China's Gaming Market Amid Uncertainty
- NetEase is the second-largest gaming company in China, which is the largest gaming market in the world. The Chinese government has imposed restrictions to reduce gaming addiction among the youngest, but despite the limitations, NetEase still managed to grow in 2022.
- 01/24/2023
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7 Cheap Chinese Stocks to Buy Before the Rebound
- Years after the devastating coronavirus pandemic capsized global economies, China finally made the decision to reopen its economy, thus presenting possible opportunities in cheap Chinese stocks to buy. For the longest time, Beijing imposed a strict zero-Covid policy, which arguably helped control the spread of SARS-CoV-2.
- 01/23/2023
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These 3 Tech Stocks Are Already up 15% In 2023
- With sentiment slowly shifting following better-than-expected inflation data over the last several weeks, buyers have finally returned to the Technology sector after a long hibernation. Can the hot start continue?
- 01/23/2023
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China's NetEase criticizes Blizzard offer as unequal, unfair
- China games company NetEase Inc. has rejected a proposal from World of Warcraft creator Activision Blizzard to temporarily extend its partnership while the U.S. company seeks a new partner, calling the proposed terms "unequal and unfair" in an escalating public spat.
- 01/18/2023
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Shares of Tencent, NetEase rise as China gaming crackdown ends
- Shares of Tencent Holdings , the world's largest gaming company, and smaller rival NetEase Inc rose on Wednesday after China's video games regulator granted the first gaming licences in 2023, further easing an industry crackdown.
- 01/17/2023
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China approves 88 games in January, including titles by Tencent and NetEase
- China's video games regulator on Tuesday granted publishing licences to 88 online games, including titles belonging to Tencent Holdings Ltd , NetEase Inc and miHoYo.
- 01/17/2023
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Blizzard says China's NetEase rejects proposal to extend partnership for six months
- Activision Blizzard , the U.S. video game giant behind hit franchise Warcraft, said on Tuesday that its Chinese publisher NetEase had turned down a proposal to extend their partnership for six months.
- 01/17/2023
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China's NetEase buys gaming studio involved in major titles including Halo Infinite and Minecraft
- NetEase has ramped up its international expansion efforts in gaming over the last two years as China's domestic market has slowed amid tougher regulation.
- 01/06/2023
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Why Futu Holdings And NetEase Shares Are Trading Higher
- Futu Holdings Ltd FUTU and NetEase Inc NTES shares are trading higher Wednesday morning. Shares of Chinese companies at large are trading higher after Chinese regulators reportedly approved a capital raise for Ant Group.
- 01/04/2023
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5 Chinese Stocks Gurus Are Packing Into
- In light of Beijing announcing the lifting of Covid-19 quarantine measures, five Chinese stocks with high guru ownership as of the third-quarter 13F portfolio filing date are Baidu Inc. ( BIDU , Financial), Pinduoduo Inc. ( PDD , Financial), JD.com Inc. ( JD , Financial), NetEase Inc. ( NTES , Financial) and Vipshop Holdings Ltd. ( VIPS , Financial) according to the Aggregated Portfolio of Gurus, a Premium feature of GuruFocus.
- 12/27/2022
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U.S. listed Chinese stocks rise as China eases COVID-19 lockdown restrictions
- Shares of some U.S.-listed Chinese companies advanced on Tuesday on optimism that easing of the country's COVID-19 travel restrictions on foreigners would deliver a business boost.
- 12/27/2022
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NetEase: Now A Buy (Upgrade)
- Despite the pressures of an undoubtedly challenging macroeconomic backdrop in China, NetEase, Inc. posted solid Q3 results. The macro-environment in China is improving and the termination of the partnership with Activision is likely only a minor headwind to NetEase fundamentals.
- 12/23/2022
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As expats fled China's zero-COVID, this developer built a sci-fi game for NetEase
- Since the beginning of the COVID-19 pandemic, foreigners have been leaving China in droves to escape the country's strict “zero-COVID” restrictions, which had limited people's domestic and overseas travel for nearly three years until rules began to relax recently.
- 12/20/2022
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KraneShares CIO believes domestic consumption is where Chinese policy is headed
- Brendan Ahern, KraneShares chief investment officer, joins 'Squawk on the Street' to discuss the PCOB decision on global investors in Hong Kong, removing the delisting risk to bring China institutional investors back to U.S. listings and the significant policy pivot around China's zero-Covid policy.
- 12/16/2022
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Is the Options Market Predicting a Spike in NetEase (NTES) Stock?
- Investors need to pay close attention to NetEase (NTES) stock based on the movements in the options market lately.
- 12/02/2022
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What Makes NetEase (NTES) a New Buy Stock
- NetEase (NTES) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
- 11/30/2022
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BlackRock expresses caution towards Chinese equities amid COVID lockdown concerns
- Yahoo Finance's Ines Ferré discusses BlackRock cautioning on China stocks.
- 11/25/2022
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Chinese stocks under pressure, crude oil fluctuates
- Yahoo Finance's Ines Ferre joins the Live show to break down how stocks are performing in intraday trading.
- 11/25/2022
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3 Picks from the Recovering Internet Software & Services Industry
- The Internet-Software & Services industry is in recovery mode even as a slowing economy in 2023 looms large. NTES, RNG and VRSN are better equipped than others to come out on top.
- 11/22/2022
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Consistent Profitability And Relative Undervaluation Make NetEase Attractive
- Seeking Alpha has published 10 of my bullish NetEase essays. It is only proper I write this 11th buy endorsement. The recent Q3 numbers are excellent. NetEase is still very profitable despite the growth slowdown.
- 11/19/2022
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Why NetEase Stock Was Up Before Falling This Week
- The Chinese games provider is performing relatively well in a weak economy.
- 11/18/2022
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NetEase, Inc. (NTES) Q3 2022 Earnings Call Transcript
- NetEase, Inc. (NASDAQ:NTES ) Q3 2022 Earnings Conference Call November 17, 2022 7:00 AM ET Company Participants Margaret Shi - Director of Investor Relations Charles Yang - Chief Financial Officer William Ding - Chief Executive Officer Conference Call Participants Kenneth Fong - Credit Suisse Lincoln Kong - Goldman Sachs Charlene Liu - HSBC Alex Poon - Morgan Stanley Felix Liu - UBS Natalie Wu - Haitong International Operator Good day, and welcome to the NetEase 2022 Third Quarter Earnings Conference Call. Today's conference is being recorded.
- 11/17/2022
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Activision seeks ways to serve China gamers affected by end of NetEase licensing deal
- Activision Blizzard Inc. ATVI, -0.68% says it will find new ways to serve gamers in China impacted by the end of its licensing deal with NetEase Inc. NTES, +1.57% . The video game giant's licensing agreements with the Chinese internet technology company date back to 2008, but expire on Jan. 23, 2023.
- 11/17/2022
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Activision Blizzard to End Most Game Services in China, NetEase Partnership
- The U.S. company's subsidiary is ending its 14-year licensing partnership with NetEase following disagreements over issues including data control.
- 11/17/2022
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NetEase shares plunge after Blizzard says some game services will be suspended in China
- By Yi Wei Wong
- 11/17/2022
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Blizzard ends 14-year licensing deal with NetEase in China
- In a somewhat surprising turn, Blizzard Activision, the California-based gaming publisher behind global hits like World of Warcraft and Overwatch, will be suspending most of its games in China due to the expiration of licensing agreements with NetEase, the second-largest gaming company in the country.
- 11/17/2022
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Blizzard to suspend game services in China as NetEase licence ends
- Activision Blizzard's game development and publishing unit said on Thursday it would be suspending most Blizzard game services in mainland China, as its current licensing agreements with NetEase ends in January.
- 11/16/2022
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Can Value Investors Select NetEase (NTES) Stock Now?
- Is NetEase (NTES) a great pick from the value investor's perspective right now? Read on to know more.
- 11/16/2022
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2 Chinese Stocks Moving in Opposite Directions
- Alibaba Group Holding Ltd (NYSE:BABA) and NetEase Inc (NASDAQ:NTES) are in focus this morning, after Reuters reported regulators gained "good access” to audits of U.S.-listed Chinese companies.
- 11/16/2022
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Harburg: In the short term, we've hit a bottom for Chinese tech stocks
- Ben Harburg, Managing Partner at MSA Capital, joins Worldwide Exchange to discuss the recent moves in Chinese tech stocks.
- 11/16/2022
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Markets Cool but Stay in the Green, Led by Chinese Stocks
- We're seeing many tech and e-commerce companies in China among the best-performing stocks of the day.
- 11/15/2022
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Why China Stocks Tencent, NetEase, and Hello Group Were Gaining Today
- Relations between the U.S. and China could be improving.
- 11/15/2022
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7 Chinese Stocks to Snap Up on China's Market Crash
- With turmoil erupting in the world's second-largest economy, daring contrarians may want to consider Chinese stocks to buy on discount. To be completely transparent, this narrative won't appeal to everyone.
- 11/15/2022
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New Strong Buy Stocks for November 8th
- WTTR, NTES, AGNC, IBA and GMS have been added to the Zacks Rank #1 (Strong Buy) List on November 8, 2022.
- 11/08/2022
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Goldman Sachs: Reopening could send Chinese stocks 20% higher
- Yahoo Finance's Ines Ferré explains a new note from Goldman Sachs on easing COVID restrictions in China and how Chinese ADRs are trading.
- 11/07/2022
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3 Nasdaq Stocks to Buy Before the Market Blasts Higher in 2023
- With October in the rearview mirror, it might be the perfect time to look for Nasdaq stocks to buy. How's that, you wonder, given the Nasdaq Composite is down more than 33% year-t0-date?
- 11/03/2022
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Youdao to Report Third Quarter 2022 Financial Results on November 17
- HANGZHOU, China , Nov. 1, 2022 /PRNewswire/ -- Youdao, Inc. ("Youdao" or the "Company") (NYSE: DAO), a leading technology-focused intelligent learning company in China, today announced that it will report its third quarter 2022 financial results on Thursday, November 17, 2022, before the open of the U.S. markets. The earnings teleconference call with simultaneous webcast will take place at 5:00 a.m.
- 11/01/2022
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NetEase: A Stable Business In A Tough Environment
- Annual EPS growth going forward is expected to be ~12%. Given the below-average valuation of the company, it looks attractive. Stock chart, earnings and capital allocation point to the company being potentially undervalued.
- 10/29/2022
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Chinese Stocks Look Cheap. But Bargain Hunters Risk Losing Everything.
- Bulls on Chinese stocks say that, at these prices, U.S. investors are being compensated for the risks. But if you think you can trust Xi Jinping, think again.
- 10/28/2022
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Why Chinese Tech Stocks Were Tumbling Today
- A new term for Xi Jinping spelled bad news for investors.
- 10/24/2022
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Here's Why NetEase (NTES) is Poised for a Turnaround After Losing 18.1% in 4 Weeks
- NetEase (NTES) is technically in oversold territory now, so the heavy selling pressure might have exhausted. This along with strong agreement among Wall Street analysts in raising earnings estimates could lead to a trend reversal for the stock.
- 10/21/2022
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What's Going On With NetEase Stock Rising Today - NetEase (NASDAQ:NTES)
- NetEase Inc (NASDAQ: NTES) shares are trading higher by 4.42% to $71.64 Monday afternoon. Shares of several Chinese technology stocks at large are trading higher after Chinese President Xi Jinping committed to investing in core technologies.
- 10/17/2022
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These Video Game Stocks Are Deemed Top Picks For A Comeback
- Video game stocks are likely to stage a comeback in 2023 as publishers release a bigger slate of new games, Morgan Stanley says. The post These Video Game Stocks Are Deemed Top Picks For A Comeback appeared first on Investor's Business Daily.
- 09/27/2022
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3 Chinese Tech Stocks to Buy Before They Take Back Off
- The three Chinese tech stocks profiled in this column are well-positioned to rebound during the rest of the year. In recent months, U.S. investors have been hesitant to include Chinese shares in their portfolios.
- 09/21/2022
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3 metaverse stocks that stand to benefit from the sector's boom – JPMorgan picks
- JPMorgan (NYSE: JPM) is keeping a close eye on the developments around the metaverse, as it continues investing in the
- 09/14/2022
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China grants gaming license to NetEase, 1st since crackdown
- China's second largest gaming firm NetEase has received its first online game license in over a year in a possible sign Beijing is gradually easing a crackdown on the industry.
- 09/14/2022
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6 Video Game Stocks to Connect With in September
- In light of National Video Games Day, six stocks that may benefit from the gaming community are Nintendo Co. Ltd. ( TSE:7974 , Financial), Activision Blizzard Inc. ( ATVI , Financial), NetEase Inc. ( NTES , Financial), Electronic Arts Inc. ( EA , Financial), Roblox Corp. ( RBLX , Financial) and Take-Two Interactive Software Inc. ( TTWO , Financial) according to the Stock Comparison Table, a Premium feature of GuruFocus.
- 09/12/2022
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Asia's video game giants continue acquisition hunt to expand into new formats and markets
- Asia's biggest gaming firms — Sony, NetEase and Tencent — are continuing their acquisition and investment sprees as they look to push into new formats.
- 09/05/2022
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China's NetEase snaps up French video game studio Quantic Dream
- NetEase, a Chinese technology company and billion-dollar video-game publisher, has acquired French video-game studio Quantic Dream. Terms of the deal were not disclosed.
- 08/31/2022
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Chinese tech giant NetEase buys Star Wars game maker, marking its first major push into Europe
- NetEase and its rival Tencent have been upping their efforts overseas as the Chinese domestic games market slows down amid tighter regulation.
- 08/31/2022
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NetEase, Inc. (NTES) CEO William Ding on Q2 2022 Results - Earnings Call Transcript
- NetEase, Inc. (NASDAQ:NTES ) Q2 2022 Earnings Conference Call August 18, 2022 7:00 AM ET Company Participants Margaret Shi - Director, Investor Relations Charles Yang - Chief Financial Officer William Ding - Chief Executive Officer Conference Call Participants Yang Bai - CICC Thomas Chong - Jefferies Kenneth Fong - Credit Suisse Lincoln Kong - Goldman Sachs Alicia Yap - Citigroup Natalie Wu - Haitong International Charlene Liu - HSBC Alex Poon - Morgan Stanley Operator Good day, and welcome to the NetEase 2022 Second Quarter Earnings Conference Call. Today's conference is being recorded.
- 08/18/2022
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The World's Largest Hedge Fund Sold 5 Chinese Stocks. Here's Why.
- The world's second-biggest economy shows signs of cooling. China's central bank cut interest rates after data showed a weakening of retail sales.
- 08/15/2022
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Cloud Music Inc. to Report First Half 2022 Financial Results on August 18
- HANGZHOU, China , Aug. 2, 2022 /PRNewswire/ -- Cloud Music Inc. (HKEX: 9899 or the "Company"), a leading interactive music streaming service provider in China, today announced that it will report its financial results for the first half of 2022 ended June 30, 2022, on Thursday, August 18, 2022, after the Hong Kong market closes. The Company's management will host an earnings conference call at 7:00 p.m Beijing/Hong Kong Time on Thursday, August 18, 2022 (7:00 a.m.
- 08/02/2022
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Youdao to Report Second Quarter 2022 Financial Results on August 18
- HANGZHOU, China , Aug. 2, 2022 /PRNewswire/ -- Youdao, Inc. ("Youdao" or the "Company") (NYSE: DAO), a leading technology-focused intelligent learning company in China, today announced that it will report its second quarter 2022 financial results on Thursday, August 18, 2022, before the open of the U.S. markets. The earnings teleconference call with simultaneous webcast will take place at 6:00 a.m.
- 08/02/2022
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The 7 Best Chinese Stocks to Buy Now
- Chinese stocks might be risky bets, but there's a flipside to that. Theoretically speaking, emerging market economies such as China grow at a much faster pace than developed nations until they reach maturity.
- 07/28/2022
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Beat the Market the Zacks Way: NetEase, HCA, Intuit, Illinois Tool Works in Focus
- Last week, our time-tested methodologies served investors well in navigating the market. Check out some of our last week's achievements.
- 07/25/2022
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Here's Why NetEase Shares Are Trading Up Premarket
- NetEase Inc (NASDAQ: NTES) looks to release the most-awaited Diablo Immortal mobile game in China on July 25, a month after its initially scheduled launch date in the leading gaming market. China's most significant game company after Tencent Holding Ltd (OTC: TCEHY).
- 07/21/2022
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Best Growth Stocks To Buy Now? 4 Stocks For Your July 2022 Watchlist
- Could these gaming stocks have a fresh start in the second half of 2022?
- 06/30/2022
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3 Red Flags for NetEase's Future
- The Chinese gaming giant faces a lot of near-term headwinds.
- 06/24/2022
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4 Growth Stocks To Watch In The Stock Market Now
- Check out these growth stocks for your watchlist today.
- 06/21/2022
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NetEase Stock Drops After Launch of Key Game Delayed in China
- The blockbuster title, which has been co-developed with Activision Blizzard, had been scheduled to launch on June 23.
- 06/20/2022
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Gaming giant NetEase plunges nearly 7% after it delays release of Diablo Immortal in China
- NetEase and Blizzard's move comes at a tough time for China's gaming sector which is only just emerging for a months-long freeze of approvals from regulators.
- 06/20/2022
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NetEase delays Diablo Immortal's China launch, shares tumble
- Internet and gaming giant NetEase delayed the rollout of its video game Diablo Immortal in China three days ahead of its official launch, a move that comes just after the game's official account on Weibo was banned from making new posts.
- 06/19/2022
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NetEase offers a rare chance in an overheating economy
- NetEase Inc (HKG:09999) is a rare tech stock this year. The stock has a year-to-date return of 4.48%, despite the bruises that other tech giants have suffered.
- 06/15/2022
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KraneShares: Confident the worst is over for Chinese tech companies on the regulatory front
- Brendan Ahern, CIO at KraneShares, discusses whether signs China's regulatory crackdown on tech giants is easing opens up the door for investors to jump back into the sector.
- 06/10/2022
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Most Active Stocks Today? 5 Chinese Stocks For Your Watchlist
- With improving sentiments, could these Chinese stocks be worth a closer look?
- 06/06/2022
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3 Chinese Companies That Will Rise As Lockdowns Ease In China
- Some Chinese companies have already rebounded.
- 06/04/2022
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Best Chinese Stocks To Buy Now? 3 Names To Watch
- Should investors consider these Chinese stocks as Shanghai's full lockdown ends?
- 06/02/2022
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NetEase, Inc. (NTES) CEO William Ding on Q1 2022 Results - Earnings Call Transcript
- NetEase, Inc. (NASDAQ:NTES ) Q1 2022 Earnings Conference Call May 24, 2022 8:00 AM ET Company Participants Margaret Shi - Director, Investor Relations Charles Yang - Chief Financial Officer William Ding - Chief Executive Officer Conference Call Participants Alicia Yap - Citigroup Jialong Shi - Nomura Felix Liu - UBS Lincoln Kong - Goldman Sachs Natalie Wu - Haitong International Thomas Chong - Jefferies Operator Good day, and welcome to the NetEase First Quarter 2022 Earnings Conference Call. Today's conference is being recorded.
- 05/24/2022
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NetEase Shares Gain Post Q1 On Solid Contributions From Steady Online Game Services
- NetEase, Inc (NASDAQ: NTES) reported first-quarter FY22 revenue growth of 14.8% year-on-year to $3.7 billion. Segments and margins: Online game services revenues grew 15.3% Y/Y to $2.7 billion.
- 05/24/2022
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NetEase: Not Cheap, But Growth At Reasonable Price
- NetEase is a leading technology/internet company based in China with business focus on the 4 Cs: content, communication, community, and commerce. NetEase has enjoyed tremendous business growth. Revenues grew from $3.6 billion in 2015 to $13.6 billion in 2021, representing a 6-year CAGR of 25%.
- 05/24/2022
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Earnings Preview: Abercrombie, Best Buy, NetEase, Petco
- All three major U.S. equity indexes posted dips of less than 1% Thursday, likely due to general ennui over an equities market that cannot seem to get any traction on a slippery slope.
- 05/20/2022
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3 Chinese Stocks to Buy in May 2022
- These Chinese stocks to buy represent the crème de la crème and are likely to be excellent long-term bets. The post 3 Chinese Stocks to Buy in May 2022 appeared first on InvestorPlace.
- 05/13/2022
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Cloud Village Inc. to Report First Quarter 2022 Financial Results on May 24
- HANGZHOU, China , May 10, 2022 /PRNewswire/ -- Cloud Village Inc. (HKEX: 9899, "NetEase Cloud Music" or the "Company"), a leading interactive music streaming service provider in China, today announced that it will report financial results for the 2022 first quarter on Tuesday, May 24, 2022. The announcement including the Company's financial performance and business updates, will be available on the Company's investor relations website at http://ir.music.163.com, as well as on the website of the Hong Kong Stock Exchange.
- 05/10/2022
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China's gaming giant NetEase opens first US studio in Austin
- NetEase, the second-largest gaming company in China and the sixth-largest in the world, has opened its first US-based studio in Austin as China's gaming industry slows. The company's archrival Tencent was a step ahead in expanding to North America.
- 05/05/2022
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Chinese tech giant NetEase launches first gaming studio in U.S. in international push
- The studio, called Jackalope Games, is based in Austin, TX and will be tasked with creating new PC and console games for NetEase.
- 05/05/2022
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NetEase's Cloud Music sues Tencent Music for alleged unfair competition
- NetEase's Cloud Music unit said on Wednesday it has initiated legal proceedings against Tencent Music Entertainment (TME), alleging unfair competition.
- 04/26/2022
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3 Undervalued Chinese Stocks Worth Considering
- Chinese stocks recently saw panic selling amid concerns about several issues. Contrarian investors should review undervalued Chinese stocks.
- 04/25/2022
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Why Bilibili and NetEase Shares Are Trading Higher Today
- XD Inc has won a publishing license for its title "Party Star" in one of China's first approvals of a game since July last year, Reuters reports. The National Press and Publication Administration soon looked to publish a list of games it has granted licenses.
- 04/11/2022
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China Revises Delisting Rule. But Investors May Want to Sell on the Rally.
- One reason China's delisting rule change may not be enough: U.S. regulators have stressed they are looking for full compliance or no deal.
- 04/04/2022
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Are Investors Bullish On Chinese Stocks Again?
- A raft of regulations targeting a number of sectors — from technology to real estate and education — have hammered Chinese stocks late last year and into 2022, and although many economists remain bullish on Chinese stocks' potential, Beijing's relationship with the Kremlin.
- 04/04/2022
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Asia is seeing a wave of buybacks. Goldman and Morgan Stanley say these companies could be next
- Asia has seen a wave of stock buybacks, and bank analysts say it's not stopping anytime soon.
- 03/31/2022
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7 China Tech Stocks to Buy on Any Dip
- Despite the difficult times recently, tech stocks in China are finally on their way to recovery due to reports of easing regulations. The post 7 China Tech Stocks to Buy on Any Dip appeared first on InvestorPlace.
- 03/29/2022
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Why Baidu, NetEase, and Alibaba Stocks Keep Falling
- J.P. Morgan "double-downgrades" pretty much every China stock.
- 03/14/2022
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Cloud Village Inc. to Report Fiscal Year 2021 Financial Results on March 24
- HANGZHOU, China, March 14, 2022 /PRNewswire/ -- Cloud Village Inc. (HKEX: 9899, "NetEase Cloud Music" or the "Company"), a leading interactive music streaming service provider in China, today announced that it will report financial results for the fiscal year 2021 on Thursday, March 24, 2022. The announcement including the Company's financial performance and business updates, will be available on the Company's investor relations website at http://ir.music.163.com, as well as on the website of the Hong Kong Stock Exchange.
- 03/14/2022
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Chinese tech stocks on pace for worst week in a year
- Yahoo Finance Live's Jared Blikre and Akiko Fujita discuss Chinese tech stocks as they face their worst week in a year.
- 03/11/2022
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Why NetEase, Bilibili, and iQiyi Plunged on Thursday
- U.S.-listed Chinese stocks fell across the board as the Securities and Exchange Commission released its first list of Chinese companies that failed to adhere to the newly passed Holding Foreign Companies Accountable Act.
- 03/10/2022
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NetEase's (NTES) CEO William Ding on Q4 2021 Results - Earnings Call Transcript
- NetEase's (NTES) CEO William Ding on Q4 2021 Results - Earnings Call Transcript
- 02/24/2022
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NetEase: Solid Financials With Some Decisions To Make
- NetEase is an Internet technology company that provides content-related services and other Internet-based services. Their expanding reach in the gaming market is indicative of a recent acceleration in revenue growth.
- 02/15/2022
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China's tech giants push toward an $8 trillion metaverse opportunity — one that will be highly regulated
- China's technology giants from Tencent to Alibaba and ByteDance are investing in the metaverse, a market that could be worth $8 trillion in the future.
- 02/13/2022
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NetEase: A Leading Gaming Company Well Positioned For Growth
- NetEase is a leading Internet company in China, focused mainly on gaming, but the company has also expanded into various services centered around innovative content, community, communication and commerce.
- 02/11/2022
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5 Chinese Stocks With High Financial Strength
- In light of the Asian population celebrating Lunar New Year, five Chinese stocks with high financial strength and owned by at least one of the “Tiger Cub” firms include JD.com Inc. ( JD , Financial), NetEase Inc. ( NTES , Financial), Vipshop Holdings Ltd. ( VIPS , Financial), Zai Lab Ltd.
- 02/01/2022
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Chinese internet giant NetEase opens another gaming studio in Japan as international push continues
- NetEase's Nagoshi Studio will be focused on console gaming as the Chinese internet giant looks to pick up more international users across different platforms.
- 01/24/2022
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NetEase (NTES) is an Incredible Growth Stock: 3 Reasons Why
- NetEase (NTES) is well positioned to outperform the market, as it exhibits above-average growth in financials.
- 01/19/2022
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7 Comeback Stocks Set to Make a Stellar Return in 2022
- These robust comeback stocks have come under pressure and could generate significant wealth over time. Here are seven possible picks.
- 01/18/2022
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Investment Opportunity Breakdown: Video Game Stocks
- Video game stocks remain strong investment vehicles in a post Covid-19 world. Here are key risks and catalysts that affect the industry.
- 01/13/2022
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Which Are The Best Chinese Stocks To Watch In 2022?
- 2021 has been a painful year for shareholders of Chinese stocks in general. Could they be the proverbial coiled springs ready to be released in 2022? I identified Alibaba Group, NetEase, Tencent Holdings, Baidu, and JD as the five watchlist members.
- 01/06/2022
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Here's What Investors Need to Know About NetEase Inc.'s Third-Quarter Earnings
- The Chinese tech stock reported impressive top-line growth.
- 12/09/2021
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U.S. Listed Chinese Stocks Lose $80 Billion In Value As Didi Delisting Crashes Prices
- After a year of massive losses for Chinese stocks, one expert says the delisting concerns could be just the "beginning."
- 12/03/2021
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MSCI Now Tracks Hong Kong Shares of JD.Com and NetEase in Liquidity Shift From U.S.
- MSCI is tracking Chinese tech giants JD.com and NetEase via their Hong Kong-listed shares rather than American depositary receipts as the threat looms over Chinese firms being forced to delist from New York.
- 12/03/2021
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NetEase Cloud Music Prices HK IPO At HK$205 Per Share
- NetEase Inc (NASDAQ: NTES) freemium music streaming platform NetEase Cloud Music was priced at HK$205 (roughly $26.3) per share, the midpoint of the file price range. NetEase Cloud Music aims to list on the HKEx on December 2 with the stock code “9899”.
- 12/01/2021
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Chinese Internet Stocks: Throwing The Baby Out With The Bathwater
- Already walloped from uninspiring third-quarter results in several Chinese internet companies, Chinese stocks were hammered further by the broader market slump on renewed pandemic concerns. BlackRock says "the time to position in the China market is right now," with signs of "bottoming out" for the internet and property sectors.
- 11/28/2021
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NetEase Fires Up Tencent Rivalry Via Hong Kong IPO Of Music Business
- NetEase Inc (NASDAQ: NTES) launched the Hong Kong initial public offering (IPO) of its music business, Cloud Village, to raise a maximum of $519.6 million (HK$4.04 billion). Cloud Village will offer 16 million shares at HK$190 - HK$220.
- 11/23/2021
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Chinese tech giant NetEase launches $500 million Hong Kong IPO for its music business
- NetEase has launched the Hong Kong initial public offering (IPO) of its music business Cloud Village which could raise around $500 million.
- 11/22/2021
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Chinese tech giant NetEase revives Hong Kong IPO of its music streaming arm
- Cloud Village runs NetEase's music streaming business and the company says it has 185 million monthly active users.
- 11/17/2021
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NetEase, Inc. (NTES) CEO William Ding on Q3 2021 Results - Earning Call Transcript
- NetEase, Inc. (NTES) CEO William Ding on Q3 2021 Results - Earning Call Transcript
- 11/16/2021
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NetEase restarts Hong Kong IPO of music streaming business Cloud Village
- NetEase Inc has re-started the Hong Kong initial public offering (IPO) of its music streaming business Cloud Village, company filings showed on Tuesday, a deal two sources said is aimed at raising about $500 million by year-end.
- 11/16/2021
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NetEase Shares Gain On Positive Regulatory News, Clocks 19% Revenue Growth In Q3
- NetEase Inc (NASDAQ: NTES) reported third-quarter FY21 revenue growth of 18.9% year-on-year to $3.44 billion, topping the consensus of $3.276 billion. Segments and margins: Online game services revenues grew 14.7% Y/Y to $2.5 billion.
- 11/16/2021
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NetEase, Baidu, and Alibaba Have a Lot to Prove This Week
- Three of China's online leaders have big quarterly reports on tap this week.
- 11/15/2021
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Esports Entertainment partners with NetEase as official esports tournament and broadcast provider for Naraka: Bladepoint
- Esports Entertainment Group Inc and its EGL brand have announced a partnership agreement with NetEase to become its official North American esports tournament and broadcasting provider for Naraka: Bladepoint, running the entirety of the Morus Cups seasons one, two, and three, which is being held between September and November 2021. The partnership is another six-figure source of revenue for Esports Entertainment, according to the company.
- 10/22/2021
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China's NetEase buys No More Heroes maker Grasshopper Manufacture
- NetEase has agreed to buy Grasshopper Manufacture, the maker of games such No More Heroes, Killer7, and Lollipop Chainsaw.
- 10/22/2021
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NetEase's Stock Grew 8% Last Month, What Next?
- NetEase's stock rose by 8.3% in the last twenty-one trading days. In comparison, the broader S&P500 index declined by 2.5% over the same period.
- 10/13/2021
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Why NetEase Stock Is Rising This Week
- An important strategy shift from a subsidiary is pleasing analysts and bringing back bullish investors.
- 10/08/2021
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These Nasdaq Stocks Are Leading the Charge Thursday
- Many investors don't even realize they're in a key stock index.
- 10/07/2021
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Gaming company Kepler raises $120 million from China's NetEase
- Kepler Interactive, a game publisher co-owned and run by developers, on Tuesday said it got $120 million in funding from Chinese gaming firm NetEase Inc.
- 09/27/2021
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Bear Of The Day: NetEase (NTES)
- Despite beating the number in three of the last four quarters, estimates are falling for this stock
- 09/23/2021
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China Just Blew Up the Casino Market in New Regulatory Crackdown
- Sweeping changes could be coming to Macao integrated resorts.
- 09/22/2021
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New Strong Sell Stocks for September 21st
- FRO, NTES, GPRK, RXT, and PRLB have been added to the Zacks Rank #5 (Strong Sell) List on September 21, 2021
- 09/21/2021
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Stock investors are 'traumatized' following China's tech crackdown, says analyst
- Thomas Gatley of Gavekal Dragonomics discusses the sell-off in casino stocks after Macao launched a public gaming consultation. Gatley says China's recent regulatory crackdown on tech has sent investors into a "sell first, ask questions later" attitude.
- 09/17/2021
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Chinese stocks under pressure amid increase government scrutiny
- Chinese regulators weigh heavy on China's top stocks affecting the gaming sectors all the way to China's tech stocks.
- 09/16/2021
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Tencent, NetEase's Latest Restrictions Could Impact Apple, Activision Blizzard: Bloomberg
- China is reviewing new games to determine compliance with content and kid protection criteria, Bloomberg reports. The regulators are reassessing titles submitted by Tencent Holdings Ltd (OTC: TCEHY) to NetEase Inc's (NASDAQ: NTES) developers to ensure compliance with playing time and other anti-addiction safeguards launched in August.
- 09/16/2021
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Why Are NetEase Shares Trading Lower Today?
- Chinese gaming firm NetEase Inc (NASDAQ: NTES) scrapped some of its studios and projects started in early September amid China's video gaming sector regulatory crackdown, SCMP reports.
- 09/14/2021
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NetEase downsizes some projects amid China's regulatory crackdown - SCMP
- Chinese gaming firm NetEase Inc has downsized some of its studios and projects started in early September amid a regulatory crackdown by Beijing on the video gaming sector, the South China Morning Post reported on Tuesday, citing people with direct knowledge of the matter.
- 09/14/2021
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China gaming regulation poses long-term threat to e-sports competition, says analyst
- Lisa Hanson, founder and president of Niko Partners, discusses the potential impact of China's regulations to its competitive lead in the e-sports industry.
- 09/14/2021
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China Crackdown Continues
- Chinese regulators continue to apply pressure on the country's biggest tech companies, this time reportedly looking to split up Alibaba (NYSE:BABA) founder Jack Ma's Alipay. Beijing is pushing for Alipay to create a separate app for its loan business.
- 09/13/2021
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China Slows Online Games Approval
- Sep.09 -- Traders rush to dump Chinese tech stocks as Beijing moved to temporarily slow down new online game approvals. Tencent Holdings Ltd.
- 09/09/2021
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Video Game Stocks: Why TCEHY, NTES, SE, RBLX and ATVI Stocks Are Stumbling Today
- China's new regulations on its gaming industry may pose consequences for video game stocks but help those of other countries. The post Video Game Stocks: Why TCEHY, NTES, SE, RBLX and ATVI Stocks Are Stumbling Today appeared first on InvestorPlace.
- 09/09/2021
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Why Jim Cramer says he won't buy Chinese equities right now
- CNBC's "Squawk on the Street" team discusses China's crackdown and markets.
- 09/09/2021
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Why Are Alibaba, Baidu, NetEase And Other Chinese Tech Shares Trading Lower Today?
- Chinese regulators are temporarily halting approvals for new online games, delivering a big blow to Tencent Holdings Ltd (OTC: TCEHY), NetEase Inc (NASDAQ: NTES), Bilibili Inc (NASDAQ: BILI), Bloomberg reported based on SCMP. Tencent and NetEase led a selloff of Chinese tech stocks in Hong Kong following reports of further oversight of the industry and the need to deemphasize profits.
- 09/09/2021
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China Tells Tencent, NetEase To Overhaul Gameplay And Curb In-Game Spending
- Chinese regulators summoned Tencent and NetEase on Wednesday, telling them to resolutely enforce the government's latest minor-protection rules and overhaul potential addictive gameplay.
- 09/09/2021
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China urges Tencent, NetEase and others to focus less on profit as video game crackdown expands
- Chinese regulators have summoned companies to demand they play down profits and further clamp down on how minors can play video games, just days after children in the country were banned from access during the week.
- 09/09/2021
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Netease, Tencent tumble in China after officials reiterate rules on young gamers
- Shares of Chinese videogame giants Tencent Holdings Ltd. and NetEase Inc. tumbled on Thursday, after authorities summoned the companies and ordered them to follow new rules for the online-gaming industry.
- 09/09/2021
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Alibaba, Tencent, NetEase And Nio Rivals Xpeng, Li Auto Fall In Hong Kong On Renewed Regulatory Concerns
- Shares of Alibaba Group Holding Limited (NYSE: BABA), Tencent Holdings Limited (OTC: TCEHY), NetEase Inc. (NASDAQ: NTES), JD.Com Inc. (NASDAQ: JD), Baidu Inc. (NASDAQ: BIDU), Li Auto Inc. (NASDAQ: LI) and Xpeng Inc. (NYSE: XPEV) are all trading notably lower in Hong Kong on Thursday. What's Moving: Chinese e-commerce giant Alibaba's shares traded 3.4% lower at HKD 165.10 ($21.23) in Hong Kong.
- 09/09/2021
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Tencent, NetEase shares dive after Chinese regulators summon the firms over gaming concerns
- Chinese regulators called in Tencent, NetEase and other game companies for an interview reminding them of restrictions on game time for children.
- 09/09/2021
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Chinese Stocks in U.S. Tumble After Gaming Firms Summoned
- Sep.08 -- Chinese stocks listed in the U.S. fell on Wednesday after the state-run Xinhua News Agency reported gaming companies including Tencent Holdings Ltd. were summoned by a pair of China's government agencies.
- 09/08/2021
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Why Are NetEase Shares Trading Lower Today?
- Chinese government officials summoned domestic gaming firms, including Tencent Holdings Ltd (OTC: TCEHY) and NetEase Inc (NASDAQ: NTES), Reuters reports as per Xinhua. The government ordered the companies to limit minors' hours of access to their video games to protect their physical and mental health.
- 09/08/2021
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Chinese govt summons gaming firms including Tencent and NetEase - Xinhua
- Chinese gaming firms including Tencent Holdings Ltd and NetEase Inc were summoned by Chinese government officials, State media Xinhua reported on Wednesday.
- 09/08/2021
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Will China's Latest Gaming Crackdown Hurt These 3 Stocks?
- Tencent, NetEase, and Bilibili are in the Chinese government's regulatory crosshairs.
- 09/02/2021
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Why Did NetEase Move Higher After a Bad Report?
- The Chinese online gaming pioneer has a sloppy quarter, but the stock still moves up. Don't worry.
- 09/01/2021
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NetEase, Inc. (NTES) CEO William Ding on Q2 2021 Results - Earnings Call Transcript
- NetEase, Inc. (NTES) CEO William Ding on Q2 2021 Results - Earnings Call Transcript
- 08/31/2021
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NetEase CEO sees minor hit to earnings from China's new gaming curbs
- NetEase Inc Chief Executive Officer Ding Lei said on Tuesday the gaming company anticipates a less than 1% hit to its earnings from China's new gaming curbs on minors.
- 08/31/2021
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Online Gaming Helps NetEase Clock 13% Revenue Growth In Q2, Expands Share Buyback
- Chinese gaming company NetEase Inc (NASDAQ: NTES) reported second-quarter FY21 revenue growth of 12.9% year-on-year to $3.179 billion, marginally missing the analyst consensus of $3.181 billion. Tencent Holdings Ltd (OTC: TCEHY) also marginally missed the Q2 consensus of $21.45 billion, reporting a revenue of $21.4 billion.
- 08/31/2021
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Tencent and NetEase shares fall over 3% after China tightens gaming rules for kids
- China's latest rules will allow kids under 18 years old to play online games for only three hours a week and only during specific times.
- 08/31/2021
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NetEase shares plunge on Chinese gaming crackdown: should you buy or sell?
- On Monday, NetEase Inc. (HKG:09999) shares declined nearly 4% after China's regulator announced a new set of restrictions, limiting gaming time for minors. China has been tightening restrictions on technology companies, and the gaming industry is the latest to suffer the wrath of the uncompromising regulator.
- 08/30/2021
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NetEase's Earnings Outlook
- NTES is set to give its latest quarterly earnings report on Tuesday , 2021-08-31. Here's what investors need to know before the announcement.
- 08/30/2021
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NetEase Stock Plummets As China Limits Gaming Time For Minors
- Reuters reports that Chinese regulators have cut down the online game hours for players below eighteen to an hour of gameplay on Fridays, weekends, and holidays. National Press and Publication Administration said users under the age of 18 would only be able to play games from 8 p.m.
- 08/30/2021
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Earnings Previews: Chico's FAS, NetEase, StoneCo, Zoom Video
- Earnings announcements that we had previewed for Thursday evening and Friday morning posted mixed results.
- 08/27/2021
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Why Chinese Tech Stocks Soared This Week
- And more importantly -- what happens next?
- 08/27/2021
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NetEase (NTES) Soars 9%: Is Further Upside Left in the Stock?
- NetEase (NTES) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.
- 08/25/2021
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2 Great Income Stocks That Could Double Their Dividends
- Camping World doubled its yield overnight. Let's look at two other companies that should double their payouts over time.
- 08/24/2021
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Education Crackdown Creates 'Zombie Companies' In Need Of Transformation
- Education Crackdown Creates 'Zombie Companies' In Need Of Transformation
- 08/23/2021
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Why Chinese Tech Stocks Got Walloped This Week
- A deteriorating regulatory climate weighed on the sector.
- 08/20/2021
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NetEase to Report Second Quarter 2021 Financial Results on August 31
- BEIJING, Aug. 17, 2021 /PRNewswire/ -- NetEase, Inc. (NASDAQ: NTES and HKEX: 9999, "NetEase" or the "Company"), one of China's leading internet and online game services providers, today announced that it will report financial results for the 2021 second quarter on Tuesday, August 31, 2021, before the open of the U.S. markets. The earnings teleconference call with simultaneous webcast will take place at 8:00 a.m.
- 08/17/2021
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Chinese Gaming Giant NetEase Looks for Global Expansion With New Games
- NetEase on Thursday launched “Naraka: Bladepoint,” a 60-player game in the battle royale format that culminates in a last person standing.
- 08/12/2021
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Chinese gaming giant NetEase pushes for major overseas growth with new battle royale title
- A top executive at Chinese tech giant NetEase lays out the company's plans for growing revenue overseas and dipping its toes into console and cloud gaming.
- 08/10/2021
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5 Chinese Stocks the Chinese Government Has Harshly Targeted
- Alibaba, Tencent, Didi, NetEase, and TAL Education Group have been among the Chinese stocks worst hit by Beijing. The post 5 Chinese Stocks the Chinese Government Has Harshly Targeted appeared first on InvestorPlace.
- 08/10/2021
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NetEase delays $1 billion Hong Kong listing of music streaming firm - sources
- NetEase Inc has delayed the $1 billion Hong Kong initial public offering of its music streaming service Cloud Village because of volatile trading in China's major tech companies, two people with direct knowledge of the matter said.
- 08/08/2021
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Assessing Chinese Internet Stocks In A Time Of Great Flux
- Bargain-hunters who bought into the soothing reassurances from Chinese state media and officials had a rude awakening last week with articles targeting several industries sinking related stocks. The revelation of a potential expiration of preferential tax rate for tech companies like Alibaba and Tencent led to further market disappointment.
- 08/08/2021
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Tenecent, Netease drop as Chinese media targets online gaming
- Yahoo Finance's Myles Udland and Akiko Fujita report on China's media saying gaming addiction is widespread and referred ti it as 'Opium for the mind.' Watch the 2021 Berkshire Hathaway Annual Shareholders Meeting on YouTube: https://youtu.be/gx-OzwHpM9k
- 08/03/2021
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Why DiDi Global, Alibaba, and NetEase Popped Today
- Investors were temporarily bullish on Chinese stocks, but it may not last.
- 07/28/2021
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U.S.-Listed Chinese Tech Stocks Erase Nearly $150 Billion In Market Value This Week As China Stokes Regulatory Fears
- Online retailers Alibaba, JD.com and Pinduoduo are among the hardest hit firms.
- 07/27/2021
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Here's Why Chinese Tech Stocks Were Plummeting Today
- Chinese stocks are going on sale, but it's not clear if they're a great deal.
- 07/26/2021
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V&M Breakouts: Top Growth & Dividend Stocks For July 2021
- Releasing two top July stocks from the MDA Growth and Dividend Breakout portfolio and two top samples from prior portfolios. Long-term dividend portfolios have a 1-year average weighted gain of +29.9%. The best gain is from the May 2020 portfolio, +74.6%.
- 07/05/2021
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V&M Breakouts: Top Growth And Dividend Stocks For June 2021
- Releasing two top June stocks from the MDA Growth and Dividend Breakout portfolio and two top samples from prior portfolios. Long-term dividend portfolios have average weighted gains of +31.3% and the S&P 500 +13.1% YTD.
- 06/13/2021
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NetEase: Solid Company But In An Increasingly Risky Investing Environment
- NetEase's operating profitability has lagged its revenue growth. NetEase is currently trading at the higher end of its historical earnings multiple.
- 05/25/2021
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NetEase, Inc. (NTES) CEO William Ding on Q1 2021 Results - Earnings Call Transcript
- NetEase, Inc. (NTES) CEO William Ding on Q1 2021 Results - Earnings Call Transcript
- 05/18/2021
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NetEase Beats On Q1 Earnings, Hikes Q1 Dividend By 29%
- NetEase Inc (NASDAQ: NTES) reported first-quarter FY21 revenue growth of 20.2% year-on-year to $3.13 billion (RMB20.5 billion), beating the analyst consensus of $3.11 billion. Revenues from Online game services rose 10.8% Y/Y to S$2.3 billion (RMB15.0 billion), Youdao increased 147.5% Y/Y to $204.5 million (RMB1.3 billion), Innovative businesses and others' rose 39.7% Y/Y to $640.4 million (RMB4.2 billion).
- 05/18/2021
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NetEase: Q1 Earnings Insights
- Shares of NetEase (NASDAQ:NTES) rose 3.9% in pre-market trading after the company reported Q1 results. Quarterly Results Earnings per share decreased 74.89% over the past year to $1.14, which beat the estimate of $0.97.
- 05/18/2021
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V&M Breakouts: Top Growth And Dividend Stocks For May 2021
- V&M Breakouts: Top Growth And Dividend Stocks For May 2021
- 05/07/2021
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NetEase Cloud Music And Merlin Expand Partnership In China
- NetEase Inc (NASDAQ: NTES)-owned interactive music streaming service provider, NetEase Cloud Music and independent's digital music licensing partner Merlin, extended partnership in China to include access to additional marketing and promotional opportunities for Merlin members. Merlin is a digital rights music licensing partner for independent record labels, distributors, and other music rights holders.
- 03/26/2021
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Asian Event-Driven Weekly: Capitalizing On Growth Opportunities With Female Gamers
- More than four in 10 gamers in both the US and Asia are females now, but there aren't that many games specifically developed with female gamers in mind. FriendTimes is China's third largest female-oriented mobile games company, and the good performance of its new flagship game in 2020 suggests that the focus on female gamers has its merits.
- 03/25/2021
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5 Video Game Stocks Ready to Level up in 2021 and Beyond
- Due to the pandemic, video game stocks surged exponentially, but the momentum will not stop anytime soon as it's a secular trend. The post 5 Video Game Stocks Ready to Level up in 2021 and Beyond appeared first on InvestorPlace.
- 03/24/2021
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V&M Breakouts: Top Growth And Dividend Stocks For March 2021
- Releasing two top March stocks from the MDA Growth and Dividend Breakout portfolio and two top samples from prior portfolios. Long-term dividend portfolios have been released each month this year with average weighted gains of +41.1% and the S&P 500 +2.3% YTD.
- 03/06/2021
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Boss of Chinese gaming titan NetEase calls for shared parental leave
- China's relaxation of its one-child restriction has not delivered the population targets set by its policy planners. In 2019, the birth rate in China slumped to a seven-decade low, which experts attribute to changes in social attitudes, skyrocketing living costs as well as a demanding work culture.
- 03/04/2021
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NetEase, Inc. (NTES) CEO William Ding on Q4 2020 Results - Earnings Call Transcript
- NetEase, Inc. (NTES) CEO William Ding on Q4 2020 Results - Earnings Call Transcript
- 02/25/2021
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NetEase Clocks Robust Q4 Gaming Revenue, Approves $2B Share Buyback
- China's NetEase Inc (NASDAQ: NTES) reported fourth-quarter FY20 revenue growth of 25.6% year-on-year to $3 billion (RMB19.8 billion), missing the consensus estimate $3.06 billion. Online game services net revenues rose 15.5% to S$2.1 billion (RMB13.4 billion).
- 02/25/2021
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Emerging Markets Internet & E-Commerce ETF: The Growth Is Abroad
- Emerging Markets Internet & E-Commerce ETF: The Growth Is Abroad
- 02/21/2021
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Prem Watsa's Top 5 Trades of the 4th Quarter
- Prem Watsa (Trades, Portfolio), the founder and chairman of Fairfax Financial Ltd. (TSX:FFH), disclosed this week that his insurance company's top five trades during the fourth quarter featured new positions in Pfizer Inc. (NYSE:PFE) and Merck & Co. (NYSE:MRK) and the closure of his holdings in Fitbit Inc. (NYSE:FIT), Gildan Activewear Inc. (NYSE:GIL) and NetEase Inc. (NASDAQ:NTES).
- 02/18/2021
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NetEase to Report Fourth Quarter and Fiscal Year 2020 Financial Results on February 25
- BEIJING, Feb. 4, 2021 /PRNewswire/ -- NetEase, Inc. (NASDAQ: NTES and HKEX: 9999, "NetEase" or the "Company"), one of China's leading internet and online game services providers, today announced that it will report financial results for the fourth quarter and fiscal year 2020 on Thursday,...
- 02/04/2021
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New Stock Summary Page Feature: Performance Charts
- We are pleased to announce that we added a new "Performance Charts" section of our popular stock summary pages.
- 01/29/2021
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KWEB: The Rise Of The Chinese Internet
- KWEB: The Rise Of The Chinese Internet
- 01/27/2021
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PGJ: Investing In The World's Fastest Growing Economy - China
- PGJ: Investing In The World's Fastest Growing Economy - China
- 01/26/2021
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Virtual social network IMVU raises $35M from China's NetEase and others
- The line between social networking and gaming is increasingly blurring, and internet incumbents are taking notice. NetEase, the second-largest gaming company in China behind Tencent, is among a group of investors who just backed IMVU, an avatar-focused social network operating out of California.
- 01/25/2021
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3 Growth Stocks I'd Buy Right Now
- Jump-start your 2021 goals with one of these stocks.
- 01/16/2021
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5 of the Best Investments to Start 2021 on a High Note
- If you want to start 2021 on a high note, here are five of the best investments offering value, earnings growth, and return on investment. The post 5 of the Best Investments to Start 2021 on a High Note appeared first on InvestorPlace.
- 01/06/2021
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V&M Breakouts: Top Growth & Dividend Stocks For January 2021
- V&M Breakouts: Top Growth & Dividend Stocks For January 2021
- 01/03/2021
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5 Asian Companies to Ring in 2021
- As people in Asia begin ringing in 2021, five Asian companies with high financial strength, profitability and 10-year median return on capital that have outperformed the Standard & Poor's 500 Index in 2020 are Baidu Inc. (NASDAQ:BIDU), NetEase Inc. (NASDAQ:NTES)(HKSE:09999), Sogou Inc. (NYSE:SOGO), Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE:TSM)(TPE:2330) and JOYY Inc. (NASDAQ:YY) according to the All-in-One Screener, a Premium feature of GuruFocus.
- 12/31/2020
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V&M Top Growth And Dividend MDA Breakouts: 2020 Year-End Report Card
- The 2020 Growth & Dividend MDA Portfolios are all positive with weighted average monthly returns of +16.67% while the S&P 500 annual returns are +14.1% YTD. The Growth & Dividend MDA portfolios are all long-term high-dividend portfolios each stock has over 2%+ dividend yields that are not added in the total return.
- 12/23/2020
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Kuke Music Holding Seeks U.S. IPO Funding
- Kuke Music Holding Seeks U.S. IPO Funding
- 12/22/2020
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NetEase's AI Gems Are Sparkling Like Baidu
- Several lingering drivers for the equity markets continued make a splash last week. Baidu and NetEase scored large gains. Coincidentally, the duo is deploying AI into different areas.
- 12/21/2020
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NetEase Cloud Music Announces New Initiative to Foster the Growth of Derivative Music Content Creators
- HANGZHOU, China, Dec. 17, 2020 /PRNewswire/ -- NetEase Cloud Music, a leading interactive music streaming service provider in China, announced a new "Music Talent" initiative to leverage its competitive edge as a community to connect, inspire and engage quality content creators to cater...
- 12/17/2020
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President Trump to Sign Bill That Could Kick Chinese Stocks Off U.S. Exchanges
- The measure forces foreign companies to abide by the same auditing rules as their U.S. counterparts.
- 12/03/2020
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NetEase's Streaming Music Business Deserves a Closer Look
- NetEase Cloud Music is quietly becoming a secondary growth engine for the Chinese tech giant.
- 12/02/2020
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4 Chinese Tech Stocks to Buy Despite Potential Regulation
- These four tech stocks offer great returns and are operating in an environment conducive to long term growth, with limited oversight. The post 4 Chinese Tech Stocks to Buy Despite Potential Regulation appeared first on InvestorPlace.
- 12/01/2020
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V&M Breakouts: Top Growth And Dividend Stocks For December 2020
- Releasing two top December stocks from the MDA Growth and Dividend Breakout portfolio and two top samples from the November portfolio. The November portfolio completes the first month +15.33% led by United Microelectronics +31.5% and ViacomCBS +22.7%.
- 11/30/2020
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3 Reasons NetEase Is Still a Top Chinese Tech Stock to Own
- It's one of China's oldest tech companies, but still has plenty of irons in the fire.
- 11/23/2020
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NetEase News: Why NTES Stock Is Popping 5% Today
- NetEase (NTES) news for Thursday includes the company's earnings report for the third quarter of 2020 boosting NTES stock up. The post NetEase News: Why NTES Stock Is Popping 5% Today appeared first on InvestorPlace.
- 11/19/2020
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NetEase, Inc.'s (NTES) CEO William Ding on Q3 2020 Results - Earnings Call Transcript
- NetEase, Inc.'s (NTES) CEO William Ding on Q3 2020 Results - Earnings Call Transcript
- 11/19/2020
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Recap: NetEase Q3 Earnings
- Shares of NetEase (NASDAQ:NTES) moved higher by 3.4% in pre-market trading after the company reported Q3 results. Quarterly Results Earnings per share fell 84.45% year over year to $0.79, which beat the estimate of $0.39.
- 11/19/2020
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Baidu, Bilibili, and NetEase Have a Lot to Prove This Week
- Three of China's most compelling growth stocks are reporting quarterly results later this week.
- 11/16/2020
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3 Chinese Tech Stocks You Can Buy and Hold for the Next Decade
- NetEase and two other Chinese tech giants are still solid long-term investments.
- 11/13/2020
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Gaming Giant NetEase Benefits From Pandemic-Stoked Demand
- Online gaming businesses around the world have benefitted as lockdowns stoke demand for digital entertainment.
- 11/11/2020
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7 Chinese Stocks To Buy Even If Trade Tension Persists
- Investors who worried too much about U.S.-China trade tensions missed out on doubling in various Chinese stocks over the last half decade. The post 7 Chinese Stocks To Buy Even If Trade Tension Persists appeared first on InvestorPlace.
- 11/11/2020
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NetEase: Gaming Powerhouse With An Extensive Runway Ahead
- NetEase’s 2Q came in well above expectations, on the back of strength in the gaming and Cloud Music businesses.
- 09/05/2020
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NetEase: One Of The Safest Chinese Companies To Own
- I continue to believe that NetEase is one of the safest Chinese companies to own. The company will be able to continue to expand back at home, thanks to its near-monopoly status in the gaming and online education fields in China.
- 08/31/2020
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Tracking Prem Watsa's Fairfax Financial Holdings Portfolio - Q2 2020 Update
- Prem Watsa’s 13F portfolio value increased from $1.44B to $1.59B this quarter. Fairfax Financials’ largest three stakes are Atlas Corp., BlackBerry, and Kennedy-Wilson.
- 08/26/2020
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Up 50% in 2020, Does NetEase Stock Still Have Room to Run?
- NetEase's (NASDAQ: NTES) stock price rose over 50% this year as the Chinese tech giant impressed investors with the resilience of its gaming, online education, and advertising businesses throughout the COVID-19 crisis.
- 08/19/2020
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Up 50% in 2020, Does NetEase Stock Still Have Room to Run?
- One of China’s oldest tech companies is still generating double-digit revenue and earnings growth.
- 08/19/2020
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India Takes on Asia’s FX Hubs for Lion Share of Rupee Trade
- (Bloomberg) -- India’s only international financial hub is seeking to seize a major part of the offshore rupee trading business within two years, a target that is both ambitious as well as crucial for its plan to be an alternative global financial gateway.Prime Minister Narendra Modi wants to pitch India as a new Asian destination for global fund flows rivaling the likes of Singapore and Hong Kong. The move comes amid Bejing’s muscle-flexing in Hong Kong through a new national security law that threatens to undermine the city’s role as a regional financial center.“One of the key elements that work in our favor is that there is overall stability in India,” Tapan Ray, managing director and group chief executive of Gujarat International Financial Tech City, wrote in an email interview. “There is predictability in policy.”The centerpiece of Modi’s pet project, conceived when he was chief minister of Gujarat state, offers flexibility in financial transactions with lower taxes and easier regulations than elsewhere in the country. India’s policymakers have been increasingly concerned about the growing heft of the rupee trades in venues overseas, and GIFT City as the hub is known, seeks to fill that gap.The hub offers trading in equities, currencies and commodities, as well as listing of international bonds. Exchanges located there started trading rupee derivatives settled in foreign currencies in May. Subsequently, banks who had units in the hub were allowed by the central bank to trade in offshore FX markets.Tough RivalsYet, going by current numbers, GIFT City’s targets looks aspirational. A hub like Singapore offers an investor access to all major currencies and more counter parties.The average daily volume for the rupee in London totaled $47 billion in April 2019, while that in Singapore was nearly at $20 billion, according to the latest data from the Bank for International Settlements. In contrast, total rupee derivative volumes over a month at GIFT City stood at about $6 billion.Standard Chartered Plc, HSBC Holdings Plc and other U.S.-based banks have either set up or are in the process of building their operations in GIFT City, according to Ray.Other lenders from the U.S., Japan and Europe are also actively considering setting up units, he said. Developing local clearing for foreign currencies trading is also on the agenda, and a new mechanism for real-time settlement of transactions should be in place soon, he said.However, skeptics say it will take more than cost advantages to bring investors to GIFT City.“If I was a hedge fund operating out of Singapore or in Hong Kong then I know in the back of my mind that effectively GIFT is under India even though it is an international jurisdiction,” said Ananth Narayan, a professor of finance and former South Asia head of financial markets at Standard Chartered. “Which means Indian regulators would have access to what I am doing.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 08/19/2020
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Indonesia, Philippines Set to Keep Rates Steady: Decision Guide
- (Bloomberg) -- Indonesia and the Philippines are expected to leave interest rates unchanged this week, letting previous reductions work their way through coronavirus-battered economies.Central banks in both countries have been among Asia’s most aggressive rate-cutters this year as their economies suffer their deepest contractions in decades. Policy makers have also been using targeted tools, like reducing lenders’ reserve ratios, and expanding unconventional policies, including buying government bonds, to support growth.“I expect both to keep policy rates unchanged, but their forward guidance will be watched more closely,” said Euben Paracuelles, an economist at Nomura Holdings Inc. in Singapore.READ: Once Upon a Time, Debt Monetization Sounded CrazyBangko Sentral ng Pilipinas “will still sound more dovish and signal it’s ready to act,” he said. “In contrast, Bank Indonesia should remain steadfast in its goal of rupiah stability and hence, with still-elevated external uncertainty, we expect it to remain on hold for the rest of the year.”Here’s what to watch out for in this week’s decisions:IndonesiaAfter 100 basis points of cuts so far this year, Bank Indonesia will probably keep the seven-day reverse repurchase rate at 4% on Wednesday, according to 20 of 25 economists surveyed by Bloomberg. The others expect a 25 basis-point cut.Policy makers “need not ease too much for now,” said Enrico Tanuwidjaja, a Jakarta-based economist at PT Bank UOB Indonesia. They “should keep the current interest-rate differential to attract foreign capital inflow and maintain the stability of rupiah.”Asia’s worst-performing currency this year, the rupiah has lost 6.6% against the dollar since 2020 began.Analysts are watching closely for signals that Governor Perry Warjiyo may extend the central bank’s bond-purchasing plans after it took unprecedented steps this year by agreeing to buy $27 billion of securities directly from the government.“BI may focus on quantitative easing to support the government’s budget financing,” said Chidu Narayanan, an economist at Standard Chartered Plc in Singapore.PhilippinesAfter a total of 175 basis points in rate reductions this year, the BSP will “allow previous cuts to flow into real activity,” said Eugenia Victorino, head of Asia strategy at Skandinaviska Enskilda Banken AB in Singapore.Seventeen of 18 analysts surveyed by Bloomberg predict the BSP will keep the overnight reverse repurchase rate at 2.25% on Thursday. The other one expects a half-point cut.If demand remains weak, policy makers may deploy “more supportive policies” in coming months, including a cut in banks’ reserve requirement ratios, Victorino said.After Governor Benjamin Diokno recently signaled there’s no need for more rate cuts in the near term, analysts are on the lookout for any comments on BSP’s conditions for using other measures in its toolkit. BSP earlier signed a debt-repurchase agreement with the government, opened a small buying window in the secondary bond market and loosened lending rules.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 08/18/2020
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Singapore Leads on Libor Replacement in Asia With Note Sale
- (Bloomberg) -- Singapore is blazing a trail for Libor replacement in Asia, as its central bank becomes the first government entity in the region to auction notes based on a new risk-free rate.The Monetary Authority of Singapore auctioned S$500 million ($366 million) of six-month floating-rate notes with a spread over compounded Singapore Overnight Rate Average, or SORA, on Tuesday. It received S$2.1 billion of applications. The country is adopting SORA as it moves away from the SGD Swap offer rate, which uses the London interbank offered rate in computation.Trillions of dollars are at stake, as everything from home mortgages to interest rate swaps are underpinned by two local rates that are due to be discontinued. The shift is part of a broader global push as policymakers around the world develop new benchmarks to replace Libor by the end of 2021, after European and U.S. banks were found to have manipulated it for their own gain.Asia has lagged the rest of the world in preparing for the change, but Singapore could offer a template for how the transition can be managed.“They are certainly ahead of the curve so far as issuing government-backed products referencing the alternative rate,” said Natalie Curtis, Singapore-based partner at Herbert Smith Freehills.Some S$3.5 trillion of derivative products were pegged to the existing swap offer rate, as were S$37.5 billion of bonds, according to a panel in March. That rate is due to be discontinued after 2021.In Singapore, a few debt securities have already been issued off SORA, the alternative benchmark, including ones from developer CapitaLand Ltd. and the country’s biggest lender DBS Group Holdings Ltd. Banks also need to have the infrastructure in place to trade SORA-linked products. Eleven banks including Deutsche Bank AG, Standard Chartered Bank, Citibank NA and DBS Group Holdings Ltd. were ready to trade SORA derivatives, according to a June statement.“The challenge is market acceptance, so that you’ll end up with enough liquidity to be a viable benchmark and also for the market to have confidence in it,” said Curtis. The MAS offering marks the start of what will be monthly issuance of such securities from the central bank.Progress on establishing alternative reference rates across Asia has been patchy. In Hong Kong, the Treasury Markets Association has identified the Hong Kong Dollar Overnight Index Average, or Honia, as an alternative rate to the Hong Kong interbank offered rate. The first Honia-linked interest rate swap was centrally cleared in July.Honia still lacks traction in Hong Kong, partly because banks can continue to reference Hibor for existing and future loan products beyond 2021, according to Francis Chan, senior analyst at Bloomberg Intelligence in a note this month.(Adds banks ready to trade SORA-linked derivatives in eighth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 08/18/2020
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Global Funds Ditch Indian Bonds on Budget Deficit, Virus Deaths
- (Bloomberg) -- Global funds used to clamor for more access to India’s debt markets. The high-yielding bonds are now the least popular in Asia as the nation struggles to contain the coronavirus pandemic.Overseas funds have sold $14.6 billion of Indian corporate and government bonds this year, the most among emerging-Asian nations, according to data compiled by Bloomberg. Indonesia has also seen outflows, but almost half that of India, while South Korea and Malaysia have attracted inflows.“Foreigners were already looking at India with caution given the worries over higher fiscal deficit,” said Nagaraj Kulkarni, a rates strategist at Standard Chartered Plc in Singapore. “Covid-led risk aversion accelerated the outflows.”Global funds own just about 1.5% of the local debt, compared to about 30% in Indonesia. Still foreigners could be an important source of demand for sovereign debt amid a supply glut as Prime Minister Narendra Modi’s government plans to sell a record 12 trillion rupees ($160 billion) of bonds this fiscal year.Meanwhile, India’s Covid-19 death toll has grown to the fourth-largest globally, with the total number of confirmed cases at more than 2.6 million. That’s expected to put a damper on India’s growth, with the IMF forecasting it to be one of the worst-performing major emerging economies this year.The prospect of a prolonged central bank pause amid rising inflation is further reducing the appeal of Indian debt. The situation in government bonds is particularly dire, with foreign holdings plunging to 934 billion rupees, near a record low reached in June.“In the near-term, the INR government debt market is likely to be driven by higher-than-expected inflation and expectations over whether there would be further RBI support for bonds.” Joevin Teo, Head of Asian Fixed Income, Amundi Singapore Ltd. said.For the first time in almost a year underwriters stepped in to help push a 10-year sovereign bond sale over the line on Friday, in a sign of flagging domestic demand for the debt. Concerns of an increase in sovereign borrowing have also taken hold after the RBI’s lower-than-expected dividend payout to the government.“Unless there is a big improvement toward emerging market local currency assets, it is difficult to see significant moves into the Indian market in the near term,” said Manu George, Managing Director and senior fixed-income strategist at TCW Singapore Asset Management Pte.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 08/18/2020
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Tencent Is Game On To Overcome Headwinds
- Chinese equities underwhelmed last week with the intensifying U.S.-China political rhetoric culminating into somewhat punitive actions on Chinese companies and government officials.
- 08/17/2020
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Billionaire Agarwal’s Vedanta Tests India Junk Bond Demand
- (Bloomberg) -- Billionaire Anil Agarwal’s Vedanta Resources is marketing a dollar bond in a crucial test of investor appetite for Indian junk debt.The commodities giant is offering a three-year amortizing note with an initial price guidance of around 13.25%, according to a person familiar with the matter.The fundraising is critical for Vedanta Resources, whose plans to delist its Indian unit Vedanta Ltd. still face hurdles including getting stock exchange approvals. The proceeds of the offering will be used to partially fund the privatization. Any surplus money will go toward a tender offer of Vedanta Resources 2021 dollar bonds or repayment of the securities at maturity, the person familiar said.S&P Global Ratings said last week that if the privatization goes through, Vedanta Resources’ credit rating is set to be upgraded, and any failure would mean immediate downgrade pressure. Vedanta Resources also plans to fund the privatization with a loan.According to a preliminary offering circular dated Aug. 11, Vedanta Resources has received commitments from lenders for up to $1.75 billion. That can be drawn through a three-month bridge facility or a bank guarantee and the terms are subject to change.The commodity giant’s bonds have staged a stunning comeback since slumping to distressed levels in March, and according to UBS Group AG, the securities have priced in a successful delisting of its unit. If completed, the privatization will make Vedanta Resources’ organizational structure cleaner and give the company better access to cash.While there have been some signs of credit strains easing recently, riskier Indian borrowers have faced push-back from investors as the country grapples with a slowing economy after the world’s biggest lockdown amid the pandemic. A SoftBank Group Corp.-backed renewable energy company postponed a dollar bond in July.The last Indian high-yield dollar bond was sold by Lodha Developers in March, according to Bloomberg-compiled data.Under the terms of the notes, the issuer is required to redeem the bonds if it decides not to complete the privatization or stock exchange approval is not received by 45 days after the settlement day.Barclays Plc, Credit Suisse, Deutsche Bank AG, JPMorgan and Standard Chartered Plc are joint global coordinators and bookrunners for the deal.(Adds terms of notes in ninth paragraph and details on loan in fifth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 08/17/2020
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Alibaba, JD.com Lead 5 Top China Internet Stocks Near Buy Points With Earnings Due
- Alibaba stock leads this group of Chinese internet companies acting bullishly, with most finding support at key levels and set to report earnings.
- 08/15/2020
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Hijacking Bankers to Catch Swindlers Won't Work
- (Bloomberg Opinion) -- Corporate chicanery appears in multiple forms and with unfailing regularity: think Enron Corp. or Wirecard AG. What bedevils capitalism in India is the propensity of some investors to cheat all other stakeholders.In good times, “promoters” — as controlling shareholders are known in local law — puff up project costs and award contracts to related parties, draining profits away from the company. The extraordinary effort that entrepreneurs put in to beat the country’s legendary red tape provides, at least in some minds, a justification for helping themselves to an outsize share of the spoils. A highly opaque system of election financing gives politicians a stake in perpetuating the status quo. In bad times, promoters leave creditors with hardly any value to extract from failed businesses. The biggest victim is a state-dominated banking system that recoups very little from insolvent companies. To give government-backed lenders visibility on whether their funds are being siphoned off, the central bank recently took a drastic step. Any company with 500 million rupees ($6.7 million) or more in debt will have to open a dedicated account at a bank exposed to at least 10% of its borrowings to pay creditors. Only the lender operating this escrow account can handle the firm’s day-to-day banking business. Since public-sector banks do the bulk of corporate lending, they stand to gain current accounts. Existing banking relationships will need to be consolidated within three months. This is bound to upset the likes of Citigroup Inc., HSBC Holdings Plc and Standard Chartered Plc. These global-local, or “glocal,” banks have been beefing up their cash management platforms — and integrating them with their customers’ computer systems. The more they help businesses save money across cross-border supply chains and earn smart returns on idle balances, the bigger the current-account pile that gravitates toward them.Citigroup alone has $900 billion-plus of such deposits worldwide. This is free funding, which takes banks years of investments in technology and customer relationships to acquire. To be asked to cede this advantage in an important market is unfair. Take Citi again. With the exception of State Bank of India, the biggest Indian lender, no government-controlled institution enjoys a deeper penetration when it comes to acting as the lead cash management bank for India’s largest companies.The U.S. bank isn’t alone. The U.K.’s StanChart is also competitive in signing up top companies. HSBC and Singapore’s DBS Group Holdings Ltd. are the other two foreign banks with significant cash management businesses.“The dislocation over the next few months can be unsettling for both the glocal banks and their cash-management customers,” says Gaurav Arora, Greenwich Associates’ head of Asia-Pacific. If the Reserve Bank of India’s move smacks of being an act of desperation, that’s because it probably is. India’s labor-surplus economy can’t afford to keep hemorrhaging precious financial capital to promoters’ private-bank accounts in Singapore or Switzerland. And yet such is the political power of large debtors that every legal tool given to creditors has tended to become blunt over time. The 2016 bankruptcy act, the latest and most promising in the series, saw recovery rates of just 12% in the December quarter. Worse still, after the coronavirus outbreak, insolvency courts have been shut for a year to new cases. The pandemic has also brought back loan restructuring, where banks can extend repayment tenures and pretend that accounts are standard and don’t need additional provisions. This, as Fitch Ratings notes, is a reprisal of India’s strategy between 2010 and 2016. Back then, extend-and-pretend exacerbated what would eventually become a $200 billion-plus stressed asset problem.The big idea behind the current-account regulation seems to be this: If taxpayer-funded banks can’t hope to recover much from dead companies, they should at least be able to monitor how living ones use their money. However, just because bankers can see more transactions doesn’t mean they will. Punjab National Bank lost nearly $2 billion in a scandal involving an uncle-nephew jeweler duo by running up international liabilities over the Swift messaging network — and not reconciling them with its core banking software. The scam went on for seven years. Since then, PNB claims to have been swindled three more times.India’s banks need long-pending governance reforms. To thwart bad behavior, the RBI needs more muscular supervision. Hijacking customers of Citi or StanChart and redistributing them among those who don’t necessarily have the best expertise is socialist overkill. It will also prove useless. Errant company bosses will be one step ahead, as they’ve always been. This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Andy Mukherjee is a Bloomberg Opinion columnist covering industrial companies and financial services. He previously was a columnist for Reuters Breakingviews. He has also worked for the Straits Times, ET NOW and Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 08/15/2020
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Standard Chartered Bank Korea Limited -- Moody's announces completion of a periodic review of ratings of Standard Chartered Bank Korea Limited
- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Standard Chartered Bank Korea Limited (SCBK) and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. Since 1 January 2019, Moody's practice has been to issue a press release following each periodic review to announce its completion.
- 08/14/2020
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Benzinga's Top Upgrades, Downgrades For August 14, 2020
- Upgrades * Guggenheim upgraded the previous rating for MSG Networks Inc (NYSE: MSGN) from Sell to Neutral. In the fourth quarter, MSG Networks showed an EPS of $0.97, compared to $0.54 from the year-ago quarter. The current stock performance of MSG Networks shows a 52-week-high of $18.76 and a 52-week-low of $8.52. Moreover, at the end of the last trading period, the closing price was at $10.66. * According to Deutsche Bank, the prior rating for Qiagen NV (NYSE: QGEN) was changed from Hold to Buy. In the second quarter, Qiagen showed an EPS of $0.55, compared to $0.33 from the year-ago quarter. At the moment, the stock has a 52-week-high of $50.97 and a 52-week-low of $25.04. Qiagen closed at $48.64 at the end of the last trading period. * According to Citigroup, the prior rating for Domtar Corp (NYSE: UFS) was changed from Neutral to Buy. Domtar earned $0.36 in the second quarter, compared to $0.57 in the year-ago quarter. The stock has a 52-week-high of $41.00 and a 52-week-low of $18.40. At the end of the last trading period, Domtar closed at $29.98. * According to Stephens & Co., the prior rating for Hilltop Holdings Inc (NYSE: HTH) was changed from Equal-Weight to Overweight. Hilltop Holdings earned $1.08 in the second quarter, compared to $0.62 in the year-ago quarter. The stock has a 52-week-high of $26.28 and a 52-week-low of $11.05. At the end of the last trading period, Hilltop Holdings closed at $20.38. * For Marriott International Inc (NASDAQ: MAR), Jefferies upgraded the previous rating of Hold to the current rating Buy. Marriott Intl earned $0.64 in the second quarter, compared to $1.56 in the year-ago quarter. The stock has a 52-week-high of $153.39 and a 52-week-low of $46.56. At the end of the last trading period, Marriott Intl closed at $96.50. * Jefferies upgraded the previous rating for Hilton Worldwide Holdings Inc (NYSE: HLT) from Hold to Buy. Hilton Worldwide Holdings earned $0.61 in the second quarter, compared to $1.06 in the year-ago quarter. The stock has a 52-week-high of $115.48 and a 52-week-low of $44.30. At the end of the last trading period, Hilton Worldwide Holdings closed at $85.56. * For Tesla Inc (NASDAQ: TSLA), B of A Securities upgraded the previous rating of Underperform to the current rating Neutral. In the second quarter, Tesla showed an EPS of $2.18, compared to $1.12 from the year-ago quarter. The stock has a 52-week-high of $1794.99 and a 52-week-low of $211.00. At the end of the last trading period, Tesla closed at $1621.00. * According to Evercore ISI Group, the prior rating for Ventas Inc (NYSE: VTR) was changed from Underperform to In-Line. For the second quarter, Ventas had an EPS of $0.77, compared to year-ago quarter EPS of $0.97. The stock has a 52-week-high of $75.40 and a 52-week-low of $13.35. At the end of the last trading period, Ventas closed at $39.87. * For Tesla Inc (NASDAQ: TSLA), Morgan Stanley upgraded the previous rating of Underweight to the current rating Equal-Weight. In the second quarter, Tesla showed an EPS of $2.18, compared to $1.12 from the year-ago quarter. The stock has a 52-week-high of $1794.99 and a 52-week-low of $211.00. At the end of the last trading period, Tesla closed at $1621.00. Downgrades * According to Benchmark, the prior rating for Meredith Corp (NYSE: MDP) was changed from Buy to Hold. Meredith earned $0.14 in the fourth quarter, compared to $1.79 in the year-ago quarter. The current stock performance of Meredith shows a 52-week-high of $49.00 and a 52-week-low of $10.01. Moreover, at the end of the last trading period, the closing price was at $16.05. * For New Relic Inc (NYSE: NEWR), Argus Research downgraded the previous rating of Buy to the current rating Hold. For the first quarter, New Relic had an EPS of $0.15, compared to year-ago quarter EPS of $0.19. At the moment, the stock has a 52-week-high of $74.20 and a 52-week-low of $33.49. New Relic closed at $55.83 at the end of the last trading period. * According to B of A Securities, the prior rating for Teekay Tankers Ltd (NYSE: TNK) was changed from Buy to Underperform. Teekay Tankers earned $2.39 in the second quarter, compared to $0.05 in the year-ago quarter. The current stock performance of Teekay Tankers shows a 52-week-high of $26.92 and a 52-week-low of $0.96. Moreover, at the end of the last trading period, the closing price was at $14.88. * HC Wainwright & Co. downgraded the previous rating for Blink Charging Co (NASDAQ: BLNK) from Buy to Neutral. In the second quarter, Blink Charging showed an EPS of $0.11, compared to $0.09 from the year-ago quarter. The current stock performance of Blink Charging shows a 52-week-high of $14.58 and a 52-week-low of $1.25. Moreover, at the end of the last trading period, the closing price was at $11.02. * JP Morgan downgraded the previous rating for Montage Resources Corp (NYSE: MR) from Overweight to Neutral. In the second quarter, Montage Resources showed an EPS of $0.57, compared to $0.41 from the year-ago quarter. At the moment, the stock has a 52-week-high of $8.30 and a 52-week-low of $1.99. Montage Resources closed at $5.36 at the end of the last trading period. Initiations * With a current rating of Buy, DA Davidson initiated coverage on BJ's Wholesale Club Holdings Inc (NYSE: BJ). The price target seems to have been set at $50.00 for BJ's Wholesale Club. In the first quarter, BJ's Wholesale Club showed an EPS of $0.69, compared to $0.26 from the year-ago quarter. The current stock performance of BJ's Wholesale Club shows a 52-week-high of $43.10 and a 52-week-low of $18.84. Moreover, at the end of the last trading period, the closing price was at $40.61. * DA Davidson initiated coverage on AutoZone Inc (NYSE: AZO) with a Buy rating. The price target for AutoZone is set to $1380.00. In the third quarter, AutoZone showed an EPS of $14.39, compared to $15.99 from the year-ago quarter. The stock has a 52-week-high of $1274.41 and a 52-week-low of $684.91. At the end of the last trading period, AutoZone closed at $1186.33. * Daiwa Capital initiated coverage on NetEase Inc (NASDAQ: NTES) with a Buy rating. NetEase earned $5.64 in the second quarter, compared to $4.09 in the year-ago quarter. The stock has a 52-week-high of $503.27 and a 52-week-low of $235.38. At the end of the last trading period, NetEase closed at $464.87. * DA Davidson initiated coverage on O'Reilly Automotive Inc (NASDAQ: ORLY) with a Neutral rating. The price target for O'Reilly Automotive is set to $508.00. In the second quarter, O'Reilly Automotive showed an EPS of $7.10, compared to $4.51 from the year-ago quarter. The current stock performance of O'Reilly Automotive shows a 52-week-high of $487.95 and a 52-week-low of $251.51. Moreover, at the end of the last trading period, the closing price was at $461.34. * DA Davidson initiated coverage on Target Corp (NYSE: TGT) with a Buy rating. The price target for Target is set to $152.00. In the first quarter, Target showed an EPS of $0.59, compared to $1.53 from the year-ago quarter. At the moment, the stock has a 52-week-high of $135.11 and a 52-week-low of $81.15. Target closed at $134.84 at the end of the last trading period. * With a current rating of Neutral, DA Davidson initiated coverage on The Home Depot Inc (NYSE: HD). The price target seems to have been set at $290.00 for Home Depot. In the first quarter, Home Depot showed an EPS of $2.08, compared to $2.27 from the year-ago quarter. The current stock performance of Home Depot shows a 52-week-high of $282.97 and a 52-week-low of $140.63. Moreover, at the end of the last trading period, the closing price was at $281.66. * With a current rating of Neutral, DA Davidson initiated coverage on Tractor Supply Co (NASDAQ: TSCO). The price target seems to have been set at $162.00 for Tractor Supply. For the second quarter, Tractor Supply had an EPS of $2.90, compared to year-ago quarter EPS of $1.80. The current stock performance of Tractor Supply shows a 52-week-high of $154.48 and a 52-week-low of $63.89. Moreover, at the end of the last trading period, the closing price was at $148.71. * With a current rating of Buy, DA Davidson initiated coverage on Walmart Inc (NYSE: WMT). The price target seems to have been set at $148.00 for Walmart. For the first quarter, Walmart had an EPS of $1.18, compared to year-ago quarter EPS of $1.13. The current stock performance of Walmart shows a 52-week-high of $134.13 and a 52-week-low of $102.00. Moreover, at the end of the last trading period, the closing price was at $131.86.See more from Benzinga * What Does Kamada's Debt Look Like? * Novavax's Debt Overview * How Does China Automotive Systems's Debt Look?(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
- 08/14/2020
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Gold Heads for First Weekly Loss Since June After Wild Ride
- (Bloomberg) -- Gold headed for the first weekly drop in more than two months after being buffeted by climbing real yields, profit-taking and a stalemate in U.S. stimulus negotiations.Bullion is ending a week filled with wild swings on a relatively tame note, and more than $100 an ounce below last week’s record. This comes as Treasury yields steadied near an eight-week high, with the number of Americans applying for unemployment benefits falling below 1 million for the first time since the coronavirus pandemic began in March. Data Friday showed China’s economic recovery continued in July, though retail sales were weak.Despite this week’s decline, gold is still up almost 30% this year, as real yields turned negative amid stimulus measures to support the economy. Goldman Sachs Group Inc.’s global head of commodities research Jeffrey Currie said the precious metal is the best hedge against currency debasement, with most of the rally due to the decline in real rates.“Barring further profit-taking, we think the longer-term uptrend is intact given U.S. dollar weakness and the scale of stimulus and as we expect interest rates to remain low or negative,” Suki Cooper, precious metals analyst at Standard Chartered Bank, said in a note. “Price dips are likely to be viewed as buying opportunities as the macro backdrop remains favorable for gold.”Spot gold fell 0.3% to $1,948.40 an ounce by 9:57 a.m. in London, set for a 4.3% weekly loss. Prices rose the previous two days after Tuesday’s 5.7% slump, the biggest one-day loss in seven years. Futures for December delivery retreated 0.7% to $1,957.20 in New York.Silver for immediate delivery declined 3% to $26.6695 an ounce, after a 7.8% jump on Thursday. The Bloomberg Dollar Spot Index headed for a weekly loss, while European stocks sank on Friday.On the virus front, there’s been little progress in political negotiations on a new round of pandemic relief, with House Speaker Nancy Pelosi saying she rebuffed an “overture” from Treasury Secretary Steven Mnuchin to restart talks. The outbreak is likely to be a challenge for years to come even with a vaccine, according to pharmaceutical and public-health experts.“All the conditions for a favorable gold price environment are present,” Jake Klein, executive chairman of Australian producer Evolution Mining Ltd., said in a Bloomberg TV interview on Friday. “The geopolitical tensions, the Covid pandemic and the impact that’s having -- unemployment rates are rising -- these are all unfortunate circumstances. Unfortunately, gold is a beneficiary of those times. So I think it has found a new floor.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 08/14/2020
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There's a Disconnect Between Shoppers and Merchants
- (Bloomberg Opinion) -- Even if China's consumers are still willing to buy some products, companies lack confidence to shell out cash marketing to them. Take a look at Baidu Inc. which just reported second-quarter numbers. The results were bad. But more than anything, they highlight how this disconnect is playing out in the technology sector. China’s biggest search-engine operator posted a 3% drop in revenue at its core business — chiefly search advertising. Some analysts and reporters saw that as a win, having played into a classic sandbag and spin strategy — lower expectations, then when bad numbers come in, pretend they’re actually good. So let me reiterate: Baidu’s numbers are not good. And they’re about to get worse with third-quarter revenue forecast to decline once more. Set that against NetEase Inc., which also reported overnight. Like Tencent Holdings Ltd., its bread and butter is gaming, which saw solid growth during the June period. Its revenue in that category climbed 21%, not as good as Tencent’s 40%, but quite decent in the middle of an economic slump. There is growth outside gaming, too. Lenovo Group Ltd., which reported Thursday, managed a 17% rise in China sales, driven by demand for PCs and servers (to play games, perhaps?). Smartphones slumped, however, with various research firms noting a double-digit decline in shipments. Interestingly though, Huawei Technologies Co. and Apple Inc. posted solid growth — which is significant because these two brands tend to offer some of the highest-priced models in the market.One easy explanation is nesting: People just want to stay home and spend money on activities there. But I think over the next few months we’ll see that this doesn’t tell the whole story.NetEase, Tencent and Lenovo benefit from having something that they can sell directly to the consumer — and in the second quarter it was clear there were people willing to buy at least some categories of products. Baidu and others in the ad business, meanwhile, rely on brands having the confidence to spend money, believing that sales will roll in later. Tencent highlights this split with revenue from media advertising — placed on its content platforms — slumping 25% for a fifth straight decline.Baidu itself cut its own marketing budget. At iQiyi Inc., its video-streaming subsidiary, membership revenue grew 19% (showing that there’s more eyeballs on the platform) but ad sales dropped 28%.As we continue through earnings season, investors may want to keep an eye out for which companies have a direct relationship with consumers, and which merely rely on brands having the confidence to spend money and pitch to them.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tim Culpan is a Bloomberg Opinion columnist covering technology. He previously covered technology for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 08/14/2020
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NetEase (NTES) Q2 2020 Earnings Call Transcript
- At this time, I would like to turn the conference over to Margaret Shi, IR Director of NetEase. The company does not undertake any obligation to update these forward-looking information except as required by law.
- 08/14/2020
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King Dollar Drowns Out China's Sanctions Ire
- (Bloomberg Opinion) -- King dollar still reigns supreme. And that means there are two ways for banks to go: the U.S. way, or the highway.Hong Kong and Chinese officials scoffed when the Trump administration imposed sanctions last weekend on 11 individuals deemed to have played a role in undermining the city’s autonomy. Luo Huining, director of the central government’s Liaison Office, noted that he had no assets abroad and offered to “send $100 to Mr. Trump for him to freeze.” Chief Executive Carrie Lam said she wouldn’t be intimidated and derided the U.S. notice for getting her address wrong. The Hong Kong Monetary Authority gave banks in the city a pass, saying they had no obligation to follow U.S. sanctions under local law.The actions of lenders tell a different story. China’s largest state-run banks in Hong Kong are taking tentative steps to comply with the sanctions, Bloomberg News reported Wednesday, citing people familiar with the matter. Major lenders with operations in the U.S. including Bank of China Ltd., China Construction Bank Corp. and China Merchants Bank Co. have turned cautious on opening new accounts for the sanctioned officials, and at least one has suspended such activity.It’s another demonstration of the realpolitik of the dollar system and the financial power that comes with being the issuer of the world’s dominant reserve currency. China’s state-controlled lenders would be the last to willingly follow a directive condemned as “clowning actions” and “shameless and despicable” by the Chinese and Hong Kong governments. HSBC Holdings Plc, Standard Chartered Plc, Citigroup Inc. and other lenders with operations in Hong Kong and ambitions in China will look on with relief. Squeezed between the conflicting demands of Hong Kong’s national security law and U.S. sanctions, they have been given political cover.For banks with international operations, the threat of having their access to dollar funding and overseas networks curtailed cannot be countenanced. Just look at how the U.S. has been able to impose its will via sanctions on Iran, despite resistance from Europe.Dealing in currencies other than the dollar provides little cover, as China’s Bank of Kunlun Co. found out. The country’s main lender for processing Iran-China payments, Kunlun was sanctioned by the U.S. Treasury Department in 2012. The bank responded by starting to handle payments from Iran in yuan and euro instead, yet halted even these in 2018 under sanctions pressure, according to Reuters.It’s little wonder that China wants to challenge the dollar’s global dominance. While officials have spoken frequently of their ambition to give the yuan a bigger role, there’s little sign of progress. The dollar’s share of international payments rose in the past year, while the proportion of payments in yuan remains negligible, according to data from the Brussels-based Society for Worldwide Interbank Financial Telecommunication, or Swift.As my colleague Andy Mukherjee and I have argued, banks are cogs in a giant financial machine that Washington keeps aligned with its foreign policy goals. Take the case of Huawei Technologies Co.’s finance chief Meng Wanzhou. The daughter of Huawei’s founder is currently battling extradition from Canada to the U.S. on charges that she misled HSBC into clearing transactions that potentially violated Iran sanctions. Lawyers for Meng, who has denied the charges, have argued HSBC could have avoided making the payments through the U.S. HSBC routed the money through New York’s Clearing House Interbank Payments System, or Chips, which handles 95% of all dollar transactions, or $1.6 trillion a day.While it’s technically feasible to clear payments in the much smaller offshore dollar market in Hong Kong, when money crosses borders it is accompanied by instructions transmitted by Swift. Since the September 2001 terrorist attacks, the U.S. has watched over financial flows through the organization. In practice, it would have been almost impossible for money destined for Iran to avoid scrutiny.The message ringing from China’s banks is louder and clearer than the contrary protestations of the country’s officials. Like it or not, it’s still a dollar world. This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Nisha Gopalan is a Bloomberg Opinion columnist covering deals and banking. She previously worked for the Wall Street Journal and Dow Jones as an editor and a reporter.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 08/13/2020
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NetEase, Inc. (NTES) CEO William Ding on Q2 2020 Results - Earnings Call Transcript
- NetEase, Inc. (NTES) CEO William Ding on Q2 2020 Results - Earnings Call Transcript
- 08/13/2020
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Dow Jones Falls 100 Points Amid Surprise Jobless Data; Cisco Dives 11% On Earnings; Apple Hits All-Time High, While Tesla Jumps
- The major stock indexes were sharply mixed early Thursday on jobless data, as the Nasdaq took the early lead. Cisco Systems dove on earnings.
- 08/13/2020
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NetEase: Q2 Earnings Insights
- Shares of NetEase (NASDAQ:NTES) moved higher by 0.2% in pre-market trading after the company reported Q2 results.Quarterly Results Earnings per share increased 37.90% year over year to $5.64, which beat the estimate of $4.59.Revenue of $2,574,000,000 declined by 5.85% from the same period last year, which beat the estimate of $2,440,000,000.Outlook NetEase hasn't issued any earnings guidance for the time being.NetEase hasn't issued any revenue guidance for the time being.Details Of The Call Date: Aug 13, 2020View more earnings on NTESTime: 07:30 AMET Webcast URL: https://edge.media-server.com/mmc/p/wzhp5cd9Technicals 52-week high: $503.2752-week low: $235.01Price action over last quarter: Up 22.67%Company Profile NetEase, which started on an Internet portal service in 1997, is a leading online services provider in China. Its key services include online/mobile games, media, email, and e-commerce. The company develops and operates some of the China's most popular PC client and mobile games, and it partners with global leading game developers, such as Blizzard Entertainment and Mojang (a Microsoft subsidiary). Since 2014, NetEase has rolled out e-commerce services, riding the tailwind of increased demand for high-quality products.See more from Benzinga * Earnings Scheduled For August 13, 2020 * Stocks That Hit 52-Week Highs On Thursday * Morning Market Stats in 5 Minutes(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
- 08/13/2020
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NetEase, Inc. 2020 Q2 - Results - Earnings Call Presentation
- The following slide deck was published by NetEase, Inc. in conjunction with their 2020 Q2 earnings call..
- 08/13/2020
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NetEase Announces Second Quarter 2020 Unaudited Financial Results
- NetEase, Inc. (NASDAQ: NTES and HKEX: 9999, "NetEase" or the "Company"), one of China's leading internet and online game services providers, today announced its unaudited financial results for the second quarter ended June 30, 2020.
- 08/13/2020
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NetEase: Q2 Earnings Insights
- Shares of NetEase (NASDAQ:NTES) moved higher by 0.2% in pre-market trading after the company reported Q2 results.
- 08/13/2020
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Chinese Video Game Publisher NetEase Easily Beats Second-Quarter Views
- Chinese video game publisher NetEase on Thursday easily beat Wall Street's sales and earnings targets for the second quarter. The NetEase earnings report drove NTES stock higher on Thursday.
- 08/13/2020
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NetEase Announces Second Quarter 2020 Unaudited Financial Results
- BEIJING, Aug. 13, 2020 /PRNewswire/ -- NetEase, Inc.
- 08/13/2020
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Gold’s Wild Ride Continues With Prices Rebounding After Rout
- (Bloomberg) -- Gold rebounded Wednesday, extending a series of wild swings that saw the metal hit a record on Friday before plunging to below $1,900 an ounce.After surging about 30% this year, gold’s rally came to a sudden halt Tuesday as U.S. bond yields rose, cutting into the negative real rates that had supported the metal. A measure of gold volatility over the past month jumped to the highest since April. U.S. equities traded higher on Wednesday, with the S&P 500 edging toward a record, helping limit gains for bullion.Gold is still one of the best-performing commodities of 2020 after the coronavirus outbreak pummeled the global economy, prompting central banks and governments to deploy massive stimulus. While a host of catalysts including geopolitical tensions and the threat of Covid-19 outbreaks are expected to continue to underpin demand for bullion as a haven, the metal may take time to regain momentum with investors spooked by the rout, according to Commerzbank AG.“The impressive summer rally enjoyed by gold and silver came to an explosive end yesterday,” Commerzbank analyst Carsten Fritsch said in a note. “We are unlikely to see prices return quickly to the highs they achieved at the end of last week. Yesterday’s sell-off caused too much technical damage for this to happen, frightening investors off in the process.”Read: Real Rates Reversal Hitting Big Trades Including Gold and NasdaqSpot gold rose 1.3% to $1,936.49 an ounce at 1:46 p.m. in New York, after falling as much as 2.5%. On Tuesday, the spot prices dropped 5.7%, the biggest one-day loss in seven years. Gold futures for December delivery advanced 0.1% to settle at $1,949 on the Comex in New York on Wednesday.Silver for immediate delivery jumped 4.2% to $25.8543 an ounce. That came a day after the white metal tumbled 15%, while silver futures on the Comex fell 11% in record volume.Benchmark Treasury yields have climbed more than 10 basis points so far this month amid improving risk appetite and an imminent flood of debt issuance. The recent rebound reflects investor hopes that the coronavirus will be contained, according to Standard Chartered Plc.Still, U.S. consumer prices excluding volatile food and fuel costs rose the most in about three decades in July, topping estimates, a report Wednesday showed. Expectations for rising inflation have underpinned the metal’s climb in recent weeks.“The U.S. CPI number released today has helped the gold price to restore some of its shine,” Naeem Aslam, chief market analyst at Ava Trade, said by email Wednesday. “There is still a huge opportunity here.”Gold’s still got plenty of high-profile supporters. Among banks that have forecast substantial gains in recent weeks, Bank of America Corp. predicted that prices will hit $3,000. Saxo Bank A/S said the sharp correction doesn’t signal the end of gold’s run, and DoubleLine Capital LP’s Jeffrey Gundlach said that he expects the metal to keep trading higher despite the setback.“Expectations of a V-shaped recovery from the coronavirus lockdowns remain far-fetched,” Avtar Sandu, senior manager for commodities at broker Phillip Futures in Singapore, said in a note. “The long-term fundamental drivers of gold remain positive in outlook. However, in the short run, gold prices seem to be reacting to headline news events and the technical picture has projected some consolidation ahead.”(An earlier version of this story corrected the dates of the price moves.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 08/12/2020
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NetEase Cloud Music Named No.1 Platform in China for Japanese Music
- NetEase Cloud Music, a leading interactive music streaming service provider in China, has been rated as China's platform of choice for fans of Japanese music, according to a recent report published by "Small Antlers Think Tank," a third-party Chinese research institution in music industry. The report, which polls approximately 100,000 respondents in China, also identifies the primary drivers of NetEase Cloud Music's popularity: The platform's proven copyright management capabilities, strong social community, and differentiated functions, such as personalized recommendations.
- 08/12/2020
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Tencent and Universal Music to take Chinese artists global under joint label
- Digital entertainment titan Tencent continues to drum up its music ambitions. On Tuesday, Tencent Music Entertainment, majority-owned by Tencent with a 55.6% stake, announced establishing a new joint label with its licensing partner Universal Music Group to discover, develop and promote Chinese artists domestically and to the world. TME, which spun off from Tencent and went public in the U.S. in 2018, commands the lion's share of China's music streaming industry through three apps -- QQ Music, Kugou and Kuwo.
- 08/11/2020
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Black Finance Workers in London Face ‘Dire’ Prospects Despite CEO Pledges
- (Bloomberg) -- One after another, the heads of the largest U.K. banks have made a flurry of public statements in recent weeks, pledging to improve the representation of Black men and women among senior management.HSBC Holdings Plc Chief Executive Officer Noel Quinn vowed in a staff memo to double the number of Black staff in senior roles by 2025. Lloyds Banking Group’s Antonio Horta-Osorio issued a “Race Action” plan. Barclays Plc CEO Jes Staley told Bloomberg Television that “we need to move away from statements and get into constructive measures going forwards.” The next day, Bill Winters went on air to say that Standard Chartered Plc needed to boost the diversity of senior management.Away from the cameras, change seems as far away as ever in the sector. There are zero Black chief executive officers or chairmen at any major institution. Black employees at firms across the City of London speak of the trials they face on a daily basis.One trader wearing white sneakers on casual Friday is told by a senior colleague that he looks like a rapper. Another had to listen to a head trader singing to his team all the lyrics to Kanye West’s Gold Digger, including the N-word. A third says his name is mispronounced even by managers who know him.“The experience of Black professionals in the City is a dire one,” said Mark Kamugisha, a consultant who has been at several City firms and now works abroad. “Moving up is impossible and you are always paid less than your counterparts.”Data GapIn the U.K., even measuring any progress is likely to prove difficult. About 2.7% of jobs in the financial and insurance sector are done by Black people, according to a 2020 survey by the Office for National Statistics. But there’s no breakdown by role or seniority. The U.K.’s Financial Conduct Authority, which has made promoting diversity a top priority for the industry, doesn’t yet track the racial and ethnic makeup of firms under its watch.Lloyds gave some indication of the scale of the challenge last month when it revealed that 1.5% of its total workforce and 0.6% of its senior management identified as Black.Bloomberg asked other major U.S., U.K., Swiss and French banks to disclose their number of Black employees and how many occupy senior positions. All declined to share the data.It’s clear, though, that Black people, who make up about 3% of the population of England and Wales and 13% of London, are severely underrepresented in senior roles across the City. It is the same deficit that haunts Wall Street, where Black men and women are badly lacking in corner offices across the top levels of finance.Finance is hardly the only sector with such issues -- no FTSE 100 company has a Black CEO and discrimination cases across all industries are soaring in the wake of Black Lives Matter protests -- but the failure is especially jarring in the context of the City of London, which rose to prominence in part off the back of slavery and colonial oppression.Even without comprehensive data, the scale of the challenge ahead is clear.Bloomberg spoke to a dozen Black finance workers of various ages and titles about their experience in the City. Their accounts show that Black people are still subject to a raft of discrimination, from inequality in pay to casual stereotyping and barriers to career advancement.Worn DownConsultant Kamugisha says that the challenges begin even before getting to your desk. “I’ve walked into a lift with two white people and been looked up and down, implying ‘what am I doing here’,” he said. “Having that day in, day out wears you down.”Emeka Njokanma, head of emerging market local rates trading for Europe and Asia at TD Securities, says that despite graduating with high grades from a top university, he had to send out more applications and took “a significantly longer route to get a job in the City than my white peers.”Others say they are excluded from the informal networks that get them noticed. Tutu Agyare, one of the first Black traders on the London Stock Exchange, said that Black people aren’t given a fair chance to compete for senior roles. “There are biases around putting people in positions to help them succeed.”Higher StandardsMany say they are held to a higher standard than peers to advance and have to work harder to prove competence.“There aren’t many Black traders around,” said Njokanma. “I do feel extra pressure to be exceptional and set a good example.”Certain jobs and promotions seem to be off limits. One banker, who asked not to be named because he still works in finance, said that early in his career when rotating desks he realized the chances of being in client-facing roles like M&A were slim. There were more middle-office opportunities, where there was little to no interaction with mainly white clients. The banker eventually left the City altogether.‘On Guard’Microagressions and insensitive comments by work colleagues make Black people feel like outsiders, according to Miranda Brawn, a finance and diversity executive. “Many have learned to silence themselves, leave their true self at home and ‘be on guard’ when it comes to race,” she said.With Black Lives Matters protests widespread, there’s certainly a fresh impetus to the sector’s work to redress the balance.Efforts include the Business in the Community group’s Race at Work Charter outlining principles for companies that are determined to increase minority representation at all levels. Almost all major banks operating in the City have now signed up, although critics say it lacks teeth.But decades of inaction means meaningful change will take years even with the vocal support from the City’s leading banks over the past few weeks.“I wouldn’t say the banks have failed on diversity,” said Jonathan Ashong-Lamptey, a diversity consultant who has advised RBS. “That implies they have tried when in reality it hasn’t been their priority. Companies are starting to respond now because for many it represents a reputational risk.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 08/11/2020
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Tencent’s Grip on Music Weakens After NetEase-Universal Deal
- (Bloomberg) -- NetEase Inc. struck a deal to license songs from Universal Music Group for the first time, a move that will further Beijing’s effort to dismantle Tencent Holdings Ltd.’s commanding lead in Chinese music streaming.The world’s biggest music company said it’s agreed to license tunes to both Tencent Music Entertainment Group and closest rival NetEase, ending an exclusive arrangement with China’s dominant music-streaming platform. Tencent Music’s shares dropped 2% in New York, but its parent gained 3.5% in Hong Kong after falling two straight days.The move gives NetEase new ammunition in a fight against Tencent. China’s antitrust authorities had investigated Tencent’s dealings with the world’s three biggest record labels but the probe was suspended this year, people familiar with the matter said in February.Read more: Tencent Music Antitrust Probe Suspended by China AuthoritiesThe pact with NetEase lets subscribers get Vivendi SA-controlled Universal Music’s full roster and the two will work on ways to let customers interact with artists. Tencent Music’s separate deal with Universal Music extends a current licensing agreement by multiple years, and the duo will establish a joint music label in China, according to a separate statement. Financial terms weren’t disclosed.Universal Music, Sony Music Entertainment and Warner Music Group Corp. have all sold exclusive rights to a major chunk of their music catalogs to Tencent Music, which is backed by Sony and Warner. Tencent Music then sublicenses that content to smaller platforms including those operated by NetEase, Alibaba Group Holding Ltd, and Xiaomi Corp. Competing platforms like NetEase have to “pay two to three times the reasonable cost” for content under such arrangements, NetEase Chief Executive Officer William Ding said on a February earnings conference call.Tencent Music’s revenue grew 17.5% in the second quarter to 6.93 billion yuan ($981 million), beating analysts’ estimates.“We are excited to work together in the years ahead, to help our artists continue to achieve new levels of success in China,” Sunny Chang, chief executive officer of Universal Music’s operations in China, said in the statement.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 08/11/2020
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NetEase Cloud Music and Universal Music Group Enter into Licensing Agreement for China
- NetEase Cloud Music, a leading interactive music streaming service provider in China, and Universal Music Group (UMG), the world leader in music-based entertainment, today announced a multi-year licensing agreement.
- 08/10/2020
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NetEase Cloud Music and Universal Music Group Enter into Licensing Agreement for China
- HANGZHOU, China and LONDON, Aug. 10, 2020 /PRNewswire/ -- NetEase Cloud Music, a leading interactive music streaming service provider in China, and Universal Music Group (UMG), the world leader in music-based entertainment, today announced a multi-year licensing agreement.
- 08/10/2020
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NetEase (NTES) to Report Q2 Earnings: What's in the Cards?
- NetEase's (NTES) second-quarter 2020 results are likely to reflect strength in online gaming portfolio, partially offset by softness in advertising demand amid coronavirus outbreak.
- 08/10/2020
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Tencent Kicks Off Deal to Create $10 Billion Streaming Giant
- (Bloomberg) -- Tencent Holdings Ltd. has proposed a deal to merge DouYu International Holdings Ltd. with Huya Inc., creating a Chinese game streaming leader akin to Amazon’s Twitch with a market value of more than $10 billion.Tencent has offered to buy 30 million shares of Huya from part-owner Joyy Inc. -- itself a live-streaming service operator -- for $810 million, Joyy said. It separately proposed a merger via a share swap of Huya and Douyu, they said, confirming a deal Bloomberg News first reported last week.Tencent is said to seek control of the final entity, which would allow the WeChat operator to dominate the $3.4 billion Chinese live-streamed gaming arena. The social media titan -- which owns a 37% stake in Huya and 38% of DouYu -- has been discussing a merger with the duo over the past few months, people familiar with the deal told Bloomberg News last week.Shares in Huya gained as much as 12% in pre-market trading, while Douyu jumped about 11%. A deal would create an online giant with more than 300 million users, cementing Tencent’s lead in Chinese games and social media. Faced with rising competition for advertisers from ByteDance Ltd. and its rapidly growing stable of apps, the WeChat operator would then run a highly profitable service akin to Amazon.com Inc.’s Twitch.Read more: Tencent Said in Talks to Create $10 Billion Streaming GiantTencent’s shoring up its home-market position against the backdrop of a U.S. administration increasingly hostile toward Chinese tech companies. Last week, President Donald Trump signed an executive order banning WeChat in 45 days, highlighting the growing hurdles Chinese companies face abroad.China’s game-streaming market is estimated to generate 23.6 billion yuan ($3.4 billion) in revenue this year, according to iResearch. The country’s streaming networks live and die by the popularity of star players and the virtual tips and gifts that fans buy for them, leading to intense bidding wars for the most-recognized names. Companies like Google-backed Chushou TV shuttered their services after failing to secure new money, while NetEase Inc.’s CC Live has found a small niche in broadcasting its in-house titles.Already featuring Tencent’s marquee games like PUBG Mobile and Honor of Kings, Huya and DouYu have established a clear lead as the top two platforms. Nevertheless, revenue growth slowed down for both in recent quarters as users shifted their attention to ByteDance’s Douyin, the Chinese twin to the globally popular TikTok short-video service. A merger would help them lower broadcast and content costs at a time when rival video services like Kuaishou and Bilibili Inc -- both also backed by Tencent -- intensify their efforts to compete for more gaming content.In April, Tencent bought an additional stake in Huya for about $260 million from Joyy, boosting its voting power in the platform to more than 50%. The latest acquisition of shares from Joyy will make Tencent the majority shareholder in the streaming platform (51%) and give it 70.4% of total voting rights, according to documents filed by the two companies. The Chinese tech giant owns about 38% of DouYu.(Updates with share action from the fourth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 08/10/2020
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NetEase (NTES) to Report Q2 Earnings: What's in the Cards?
- NetEase's (NTES) second-quarter 2020 results are likely to reflect strength in online gaming portfolio, partially offset by softness in advertising demand amid coronavirus outbreak.
- 08/10/2020
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Chances For Americans To Invest In Chinese Stocks 'TikTok' Down As U.S.-China Rift Grows
- Opportunities to profit in IPOs and other Chinese stocks could recede under a new Trump policy and growing U.S.-China tensions. TikTok and Alibaba's Ant Group are just two examples.
- 08/07/2020
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Stock Markets Close Mixed; Trump Ban Hits China Stocks
- International tensions are ramping up again.
- 08/07/2020
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Banks Can Revamp India Loans With Bad Debt Surging
- (Bloomberg) -- India’s banking regulator gave lenders power to restructure certain loans, as authorities look to support an economy hit by the pandemic while ensuring the stability of a financial sector where bad-debt is set to swell to a two-decade high.Ahead of the expiry of a blanket loan moratorium later this month, the Reserve Bank of India said it will permit banks to strike rescheduling agreements with borrowers that were on track to repay their loans on March 1, in the early days of the coronavirus outbreak. The measures were announced in the RBI’s policy statement Thursday, where it left interest rates unchanged.The underlying theme of the plan “is the preservation of the soundness of the Indian banking sector,” RBI Governor Shaktikanta Das said on Thursday.Indian banks are struggling to accelerate credit growth to revive the economy, which is set for its first annual contraction in more than four decades, while reining in bad debt that was high even before the pandemic. The decision to slow forbearance differs from Australia -- where policy makers granted hard-pressed borrowers a further four months before they must repay their loans -- and China, which extended some relief through March 2021.“It is good that the RBI didn’t extend the moratorium because it was purely kicking the can down the road,” said Ananth Narayan, a professor of finance at SP Jain Institute of Management and Research and former regional head of financial markets for South Asia at Standard Chartered Plc. “With restructuring, disclosures from banks and financial institutions will improve dramatically. The RBI is trying to give relief, at the same time make sure the package is credible and is not seen as dilution of norms.”Some analysts said there are limits to the assistance the plan will give to Indian companies.India’s Central Bank Holds Rates, Focuses on Stability“The one-time debt restructuring will ease cash flow for companies to meet their day-to-day expenses, but is unlikely to translate into a pick up in productive capacity given that the economy is still under stress,” said Karthik Srinivasan, the group head of financial sector ratings at ICRA Ltd., the local arm of Moody’s Investors Service.Still, India’s financial markets welcomed the announcement, amid relief about the selective nature of the restructuring plan. The benchmark banking index rose 0.7% and the broader Sensex gained 1%.”The market is cheering the fact that the RBI hasn’t granted banks blanket approval to extend the moratorium but has laid down a format -- and conditions -- that they will have to follow to recast loans,” said Deven Choksey, who oversees investment and research at KR Choksey Investment Managers Pvt.The banks’ gross bad loan ratio could rise to 12.5% by March 2021, the highest in over two decades, from 8.5% a year earlier, the RBI predicted in a report last month.Plan details:Banks will be allowed to restructure companies’ outstanding debt provided the borrower was not in default for more than 30 days on March 1, 2020.Lenders can grant loan extensions of as long as two years with or without a freeze on repayments.They will need to set aside higher provisioning for such a recast worth 10% of the post-recast debt.The resolution plan may be invoked any time within 2020 and will have to be implemented within 180 days from the date of invocation.“The critical difference is that the restructuring is at the bank’s discretion, the moratorium was at the borrower’s discretion. So this is an improvement,” said Seshadri Sen, head of research at Alchemy Capital Management Pvt. in Mumbai. “It would, however, have been preferable for provisioning to be at 20%” instead of 10% so that banks decide based on the borrowers’ capability and are agnostic between restructuring a delinquent loan or marking it as bad debt, he said.The RBI will also tweak mandated priority-sector lending rules to ensure credit flows to the right areas, the RBI said. And it increased the extent to which individuals can borrow against gold jewelery until March 31.The central bank said it set up a committee led by veteran banker K V Kamath to decide on the specific parameters of the resolution plan.(Corrects Narayan’s designation in fifth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 08/07/2020
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Trump Interrupts the China Day-Trading Party
- (Bloomberg Opinion) -- The U.S. threat to delist Chinese companies just got a lot more real. Yet businesses from Asia’s biggest economy continue to line up to sell shares on American exchanges — and are thriving. What’s going on?The President’s Working Group on Financial Markets has told U.S. exchanges to set rules that would require companies to grant American regulators access to their audit work papers, something that China has refused to allow. Firms already listed will have until Jan. 1, 2022, to comply, with removal from U.S. exchanges the ultimate penalty. Those seeking to sell shares will need to adhere to the new rules, according to the high-powered group of U.S. regulators, which includes Treasury Secretary Steven Mnuchin.You might think this ratcheting up of pressure, which reflects increasing geopolitical tensions and the fallout from accounting scandals at Chinese companies such as Luckin Coffee Inc., would put a damper on the rush of enterprises looking to go public. Anything but. Almost every day, it seems, another Chinese company announces plans to list in the U.S. — and they’re finding no shortage of takers. Late last month, Beijing-based electric-car maker Li Auto Inc. raised $1.1 billion selling shares in an initial public offering that priced above the marketed range. It was the biggest IPO by a Chinese company in New York since Shanghai-based rival NIO Inc. sold $1.15 billion of stock in September 2018. Xpeng Motors, based in Guangzhou, is poised to follow this month.Shares of U.S.-listed Chinese companies are also outperforming the broader market. The Nasdaq Golden Dragon China Index has surged 30% this year, compared with a 3.7% gain for the S&P 500.The phenomenon may be partly the product of a craze in day-trading fueled by pandemic lockdowns, which have left many Americans stuck at home looking for amusement. If the Robinhood crowd can drive shares of bankrupt companies to illogical heights, then why not Chinese stocks, too?On a more rational level, some investors may be betting that threats to delist Chinese companies are largely noise, and a compromise will eventually be worked out. Chinese listings are a gravy train for the New York Stock Exchange and Nasdaq, and both sides have a financial interest in ensuring that it doesn't get derailed.On this point, it’s worth noting that the U.S. regulators left some wiggle room. Chinese companies can hire a “co-auditor,” effectively having a second inspection performed by a U.S. accounting firm after a Chinese affiliate does the first. That would be a potential workaround for Beijing’s rules that prevent the Public Company Accounting Oversight Board from reviewing audits of U.S.-listed Chinese companies.To count on peace breaking out may be rash, though. There’s plenty of evidence that the move toward a U.S.-China decoupling is serious and tangible. Just look at the lengthening list of U.S.-traded Chinese companies that are selling shares in Hong Kong, giving them a secondary outlet into international capital markets in the event that they are forced to leave: Alibaba Group Holding Ltd., JD.com Inc. and NetEase Inc. among them.Or witness Tencent Holdings Ltd., which lost $30 billion of market value in Hong Kong on Friday after the Trump administration moved to ban U.S. residents from doing business via its WeChat app. It will be a brave investor who bets on this trend reversing itself. This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Nisha Gopalan is a Bloomberg Opinion columnist covering deals and banking. She previously worked for the Wall Street Journal and Dow Jones as an editor and a reporter.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 08/07/2020
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Oil Dips With Demand Woes Offsetting Signs of Tightening Supply
- (Bloomberg) -- Oil futures fell for the fist time in a week as uncertainty over an economic recovery in the U.S. that could boost fuel consumption offset signals of tightening global supply.Investors are awaiting an employment report out of the U.S. on Friday, with forecasts pointing to a slowdown in job gains last month, or worse. Meanwhile, Iraq will cut production in August by an additional 400,000 barrels a day to compensate for missing its production target in previous months, the state oil-marketing organization Somo said.“There’s a dialogue developing here that the jobs report could show no job creation, it could be a negative number,” said Bob Yawger, director of the futures division at Mizuho Securities USA. “And if that’s the case, that’s a horrible demand indicator for crude oil.”In what may be the last remaining hope for spurring U.S. demand in the waning days of the summer driving season, Democrats and Republicans are trying to push forward a virus relief package. President Donald Trump said he expects to sign orders on Friday or Saturday extending enhanced unemployment benefits and imposing a payroll tax holiday.Iraq’s pledge to further reduce output comes as Saudi Arabia cut pricing to Asia and Europe less than expected and left prices for the U.S. unchanged at the highest levels in months.Oil futures in New York pulled back after testing the upper bound of their recent trading range, where they’ve struggled to rally far beyond $40 a barrel. U.S. crude stockpiles falling for two straight weeks and a weaker dollar have provided support for prices, but rising coronavirus cases are continuing to weigh on sentiment. The drop in U.S. gasoline demand is going to get worse, according to Standard Chartered Plc, with analysts saying the decline in August from year-ago levels will get steeper.“Gasoline demand remains subdued,” said John Kilduff, a partner at Again Capital LLC. “Even when you get some rays of hope, there’s still this weight on the market that’s going to prevent the gains from holding up.”In physical markets, Mars Blend, a high-sulfur crude, rose to as much as $1.35 a barrel above Nymex WTI futures this week, the widest premium in roughly a month, but has eased off slightly in the last three sessions. Heavy Louisiana Sweet crude climbed 25 cents to $1.60 a barrel over Nymex oil futures on Thursday, the largest premium in almost two weeks.(An earlier version of this story corrects price of Heavy Louisiana Sweet crude)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 08/06/2020
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Tencent in Talks to Create $10 Billion Streaming Giant
- (Bloomberg) -- Tencent Holdings Ltd. is driving discussions to merge China’s biggest game-streaming platforms Huya Inc. and DouYu International Holdings Ltd., people familiar with the matter said, in a deal that would allow it to dominate the $3.4 billion arena.The Chinese social media titan -- which owns a 37% stake in Huya and 38% of DouYu -- has been discussing such a merger with the duo over the past few months, although details have yet to be finalized, said the people, who asked not to be identified because discussions are private. Tencent is seeking to become the largest shareholder in the combined entity, one person said.A deal would create an online giant with more than 300 million users and a combined market value of $10 billion, cementing Tencent’s lead in Chinese games and social media. Faced with rising competition for advertisers from ByteDance Ltd. and its rapidly growing stable of apps, the WeChat operator would then run a highly profitable service akin to Amazon.com Inc.’s Twitch. Huya and DouYu would keep their respective platforms and branding while working more closely with Tencent’s own esports site eGame, said the people.Douyu’s shares surged 18% in pre-market trade in New York, while Huya soared 15%. Tencent climbed 2% to a two-week high in Hong Kong.“As the major shareholder of both platforms, Tencent would benefit because a merger would remove unnecessary competition between them,” Bloomberg Intelligence analyst Vey-Sern Ling said. “The enlarged scale can also help to drive cost synergies and fend off emerging competitors.”Tencent and DouYu representatives declined to comment, while Huya spokespeople didn’t respond to requests for comment.Tencent’s shoring up its home-market position against the backdrop of a Trump administration increasingly hostile toward Chinese tech companies. WeChat has a limited U.S. presence and Trovo Live, a mobile-focused game-streaming service for American consumers, is only in its initial stages.China’s game-streaming market is estimated to generate 23.6 billion yuan ($3.4 billion) in revenue this year, according to iResearch. The country’s streaming networks live and die by the popularity of star players and the virtual tips and gifts that fans buy for them, leading to intense bidding wars for the most-recognized names. Companies like Google-backed Chushou TV shuttered their services after failing to secure new money, while NetEase Inc.’s CC Live has found a small niche in broadcasting its in-house titles.Already featuring Tencent’s marquee games like PUBG Mobile and Honor of Kings, Huya and DouYu have established a clear lead as the top two platforms. Nevertheless, revenue growth slowed down for both in recent quarters as users shifted their attention to ByteDance’s Douyin, the Chinese twin to the globally popular TikTok short-video service. A merger would help them lower broadcast and content costs at a time when rival video services like Kuaishou and Bilibili Inc -- both also backed by Tencent -- intensify their efforts to compete for more gaming content.In April, Tencent bought an additional stake in Huya for about $260 million from Joyy Inc., boosting its voting power in the platform to more than 50%. When asked about the possibility of a merger with Huya, DouYu founder and Chief Executive Officer Chen Shaojie told analysts on a March earnings call: “We believe it’s Tencent’s vision.”(Updates with share action from the fourth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 08/05/2020
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PBOC’s Attempt to Exit Crisis Mode Faces a $500 Billion Test
- (Bloomberg) -- China’s banks need about $500 billion in fresh liquidity this month to roll over existing debt and buy government bonds, complicating the People’s Bank of China’s efforts to exit crisis measures.Monetary policy makers have been signaling for weeks that abundant funding made available to tide the world’s second-largest economy through the coronavirus slump will soon be reined in, mindful of rising debt risks.At the same time, over a trillion yuan in new government stimulus bonds are expected to be offered this month, putting the onus on the PBOC to ensure the financial system has sufficient cash to absorb them.It’s a tricky balancing act. If the central bank doesn’t inject enough liquidity or even drains it, then lenders will scramble for cash, driving up inter-bank rates and undermining the recovery. If it pumps in too much money, the surplus cash will likely find its way to frothy stock and property markets and add to the nation’s already massive debt pile.The PBOC will be “more conservative” in cutting interest rates and banks’ reserve ratios in the second half, but keep supplying short-term funds to banks, according to Ming Ming, head of fixed-income research at Citic Securities Co in Beijing. “Aggregate easing tools will be shelved, while tools directing credit to the real economy will stay.”Read more:China’s Central Bank Is Signaling a Slower Pace of EasingPBOC Pulls Money Market Funds at Fastest Pace This YearPolitburo Message to China Bonds: Lower Rate-Cut ExpectationsChina Corporate Bond Sales Plummet in Blow to Indebted FirmsBreakdown of liquidity pressures in August:A net 1.1 trillion yuan in central and local government bonds will be sold, according to the mean of estimates by Standard Chartered Plc, Citic Securities Co., Huachuang Securities Co., Tianfeng Securities Co., Founder Securities Co. and Everbright Securities Co.550 billion yuan in medium-term loans will mature, as will 100 billion yuan in 7-day reverse repo lending and 50 billion yuan in government deposits.About 1.7 trillion yuan in negotiable certificates of deposit will mature, according to data compiled by Bloomberg. These are an important funding tool for medium and smaller banks.Without proper aid from the PBOC, Chinese banks will see their excess reserve ratio -- a key liquidity indicator - falling further from the current low level. The ratio for banks and non-bank financial institutions stood at 1.6% at the end of June, according to the central bank.CHINA INSIGHT: Tighter Liquidity Beckons PBOC Fund Injection (1)Economists from UBS Group AG, Goldman Sachs Group and others have also dialed back their forecasts for interest rate cuts or other outright monetary easing measures. With the nation’s leaders calling for a more “precisely oriented” monetary policy, fiscal policy will be responsible driving the recovery in the rest of 2020.There’s no need for more stimulus, and current policy settings are enough to lift economic growth to around 6% toward the end of the year, PBOC adviser Ma Jun said in an recent interview with Sina.com. He said China’s economy will likely expand at 2% in 2020, and the government needs to reserve some policy options to cope with potential risks in the future.What Bloomberg’s Economists Say..“We are sticking to our projection for another 20 basis points of declines in the one-year Loan Prime Rate and 100 bps of cuts to banks’ reserve requirement ratio by year-end. That said, we recognize the risk that the PBOC may be more inclined to slow the pace of easing or stay on hold.”David Qu, EconomistFor the full note click hereProactive fiscal policy needs accommodation from monetary and regulatory policy to avoid crowding out private lending, Li Zhennan, an economist at Goldman Sachs Group in Hong Kong, wrote in a report. “The PBOC needs to avoid an over-tightening that jeopardizes the growth recovery, by keeping liquidity relatively supportive to avoid further decline in bond issuance.”(Update to add PBOC adviser Ma Jun’s comments in the 10th paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 08/05/2020
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Thailand Likely to Hold Rates Now, Cut Later: Decision Day Guide
- (Bloomberg) -- The Bank of Thailand is expected to hold its key interest rate steady Wednesday and preserve its limited ammunition for later, even as the coronavirus pandemic pushes the economy toward its worst annual performance ever.All but two of 26 economists in a Bloomberg survey expect the central bank to keep its key rate unchanged at 0.5%, a historic low after three reductions so far this year. The other two expect a 25 basis-point cut.“We expect BOT to keep its policy rate unchanged this week because of its less dovish tone at the previous meeting, despite a sharp downgrade to its growth forecast,” said Euben Paraceulles, an economist at Nomura Holdings Plc. Policy makers “will likely want to assess the impact of already implemented easing measures and the pace of the recovery after the economic re-opening.”Thailand’s central bank faces a transition period as Sethaput Suthiwart-Narueput, a member of the Monetary Policy Committee, prepares to replace Veerathai Santiprabhob after his five-year term ends in September. The new governor will face a tall task to revive an export- and tourism-driven economy with few conventional monetary policy options remaining.“All economic reasons warrant a further rate cut,” said Tim Leelahaphan, an economist at Standard Chartered Plc in Bangkok, citing the poor economic outlook, negative inflation and high household debt. “We’re not certain about the timing, as they may want to wait for the new governor or preserve the limited policy space for later. Zero or negative rates are less likely, but not off the table.”The strong baht may add to the case for an eventual rate cut. The local currency has gained 4% against the U.S. dollar over the past three months, making it the best performer in Asian currencies tracked by Bloomberg. The central bank has repeatedly voiced concern about the impact on the economy and said it would assess the need for additional steps to curb baht gains.Here’s what to watch for in Wednesday’s decision:Policy ToolsCentral bankers said last month that a policy rate of 0% is “difficult to happen,” and with rates already at an all-time low, they’d preserve the remaining space for a “worst-case scenario.”The BOT is studying a number of unconventional policy options, including large-scale asset purchases and some form of yield-curve control if necessary.Economic OutlookThe central bank has forecast gross domestic product to shrink 8.1% this year, even worse than its performance during the Asian financial crisis two decades ago. The state of emergency, nighttime curfew and business closings imposed across the country to fight the virus since late March may cause as much as 3 trillion baht economic damage. The government has eased lockdown gradually since May and almost all businesses can open now.The government will announce second-quarter GDP data next week, having warned it could be the worst on record. The steepest decline recorded to date was a 12.5% contraction in the second quarter of 1998.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 08/04/2020
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What You Need To Know About Standard Chartered PLC's (LON:STAN) Investor Composition
- The big shareholder groups in Standard Chartered PLC (LON:STAN) have power over the company. Generally speaking, as a...
- 08/04/2020
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Founder Hits Jackpot Thanks to China’s Love of Stock Trading
- (Bloomberg) -- When the coronavirus put a halt on people’s lives in China in February, Justin Jin’s old university classmates thought about selling face masks to make money. The 21-year-old suggested they instead try their luck with two stocks: Tesla Inc. and Tencent Holdings Ltd.That’s when Jin’s two friends began using the Futubull app, one of the Chinese platforms that allow mainland investors to buy foreign equities. The decision paid off. Both stocks soared as part of a global rally that has enticed a wave of novice investors.“When I first started, there were only three or four friends who used Futu,” Jin said. “Now there are at least three or four dozen.”Thanks to them and many others, Futu Holdings Ltd., a Chinese online brokerage and wealth-management platform, now counts more than 1 million registered users, a 23% increase from the first quarter. Its American depositary receipts have almost quadrupled since a low in March, propelling the fortune of its founder and chairman, Leaf Hua Li, to $1.5 billion, according to the Bloomberg Billionaires Index.Tencent EmployeeLi, 43, was Tencent’s 18th founding employee and left to start Futu after growing frustrated with the software he used to trade Hong Kong stocks, according to a CapitalWatch interview in January. The online broker, backed by the Chinese internet giant, was formally incorporated under Hong Kong law in April 2012. Li owns 40% of its outstanding shares.A company spokesman declined to comment on Li’s net worth.Retail investors have always been a driving force in China’s stock market, but with the pandemic keeping people home, more amateur traders have emerged. Futu reported a 60% surge in new paying clients -- those with assets in their trading accounts -- in the first quarter, with much of it coming from Hong Kong. Big-name stocks like Tencent, Tesla and Alibaba Group Holding Ltd. fueled the surge during the peak of China’s coronavirus crisis in February, according to a statement.One of Futu’s main draws is that, unlike mainland competitors, it has licenses that allow users to go beyond the domestic market and buy equities from the U.S. and Hong Kong. This year’s high-profile secondary listings in the city from JD.com Inc. and NetEase Inc. have enticed more investors, as has the months-long rebound in U.S. stocks, according to Bank of China International analyst Nanyang He.“Futu has benefited from strong market sentiments in terms of raising trading velocity and increasing IPO subscription revenue,” He said.Shares SurgeFutu shares have risen 148% since the company listed in New York in March 2019, outpacing rival Up Fintech Holding Ltd., which went public the same month.While the competition is rife -- Chinese brokerage firm Huatai Securities Co. just launched its own U.S. stock-trading app -- Futu is betting on the increasing number of Chinese citizens looking to diversify their investments globally, He said. The company started a series of MSCI index futures products this month.Li began his career at Tencent after receiving a bachelor’s degree in computer science and technology from Hunan University in 2000. He was an early researcher of the QQ messaging software and founded Tencent Video, now one of the largest video-streaming platforms in China.Li credits his time at Tencent for building his business acumen and said he was inspired by the company’s founders, Pony Ma and Zhang Zhidong, according to the CapitalWatch interview. Tencent remains Futu’s largest institutional backer, and several of its employees were key in helping the online broker grow over the past decade.Still, Li hopes he’ll ultimately be defined by his legacy at Futu.“For a long time, people wondered why I left Tencent at its peak of growth,” Li said in the interview. “Now that Futu has made it, the weight of importance has changed.”(Updates share move since IPO in 10th paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 07/29/2020
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Toll of Virus, Oil on Saudi Budget Laid Bare With Revenue Plunge
- (Bloomberg) -- Saudi Arabia suffered a simultaneous decline in oil and non-oil revenue as the global pandemic combined with lower energy prices to jolt the kingdom’s public finances.Oil revenue was down 45% in the second quarter from the same period last year to 95.7 billion riyals ($25.5 billion), according to budget data released by the Finance Ministry on Tuesday. Non-oil revenue drawn from sources like taxes and fees declined by 55%.The deficit more than tripled from the first quarter to 109.2 billion riyals even though authorities cut spending by 17% compared with a year earlier.“A widening in the deficit was expected with the Covid-19 development, both on the income and non-income side,” said Monica Malik, chief economist at Abu Dhabi Commercial Bank. “The government has been proactive with the austerity measures they’ve introduced. Oil revenue will be critical for reducing the fiscal shortfall.”Facing a twin crisis from the coronavirus pandemic and oil market turmoil, the government has taken unprecedented measures to steady its finances, including tripling value-added tax, increasing import fees, and canceling some benefits for government workers. Some economists say the budget deficit could widen to 15% of gross domestic product this year, comparable to the levels it reached after the last oil rout of 2014.But Finance Minister Mohammed Al Jadaan has said the world’s largest oil exporter “is not in austerity” and described changes in spending as a reallocation in outlays.“Although recent fiscal measures should help limit the kingdom’s fiscal financing requirements in the second half, we expect a full year fiscal deficit of 10.9% of GDP,” said Bilal Khan, head of economic research for the Middle East, North Africa and Pakistan at Standard Chartered Plc in Dubai.Also on Tuesday, Saudi Arabia’s central bank released a report showing that its net foreign assets had declined by 0.4% in June, reaching 1.66 trillion riyals ($443 billion). That’s the lowest level since 2010.Other key points from the new budget data include:The budget shortfall in the first half of the year was equivalent to nearly 77% of the government’s full-year deficit targetThe biggest spending cut came from capital expenditures, which fell by 52% in the second quarter year-on-year, followed by spending on social benefits with a drop of 48%Spending on the compensation of government employees declined 4% in the second quarter as officials continue to try to trim the public sector wage billA spending breakdown by sector for the first half of the year showed that military spending -- the largest budget item after education -- declined by 8% compared with the same period last yearSpending on a category labeled “health and social development” fell by 22% in the first half -- though the government noted that expenditure on health services alone increased by 24% during the same period, as authorities expanded health care outlays during the pandemic(Updates with central bank data on net foreign assets in 8th paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 07/28/2020
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There's Reason For Concern Over NetEase, Inc.'s (NASDAQ:NTES) Price
- When close to half the companies in the United States have price-to-earnings ratios (or "P/E's") below 17x, you may...
- 07/28/2020
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NetEase to Report Second Quarter 2020 Financial Results on August 13
- BEIJING, July 28, 2020 /PRNewswire/ -- NetEase, Inc. (NASDAQ: NTES; HKEX: 9999) ("NetEase" or "the Company"), one of China's leading internet and online game services providers, today announced that it will report financial results for the 2020 second quarter on Thursday, August 13, 2020,.
- 07/28/2020
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James Investment Research Inc. Raises Stake in NetEase Inc (NASDAQ:NTES)
- James Investment Research Inc. grew its stake in shares of NetEase Inc (NASDAQ:NTES) by 22,561.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,079 shares of the technology company’s stock after purchasing an additional 4,061 shares during the quarter. James Investment Research Inc.’s holdings […]
- 07/27/2020
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Harding Loevner Global Equity Fund Q2 2020 Letter
- Harding Loevner is an investment manager that invests primarily in publicly traded global equities. We were founded in 1989 by former managers for the Rockefeller family.
- 07/22/2020
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Hong Kong's stock market sees its future in Chinese tech
- Hong Kong is launching a new Nasdaq-like technology index. It's a sign that the Asian financial hub, caught in a battle for its future between East and West — is prepared to embrace its role as a gateway for China's tech industry to the world.
- 07/20/2020
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NetEase Inc (NASDAQ:NTES) Stock Holdings Reduced by MERIAN GLOBAL INVESTORS UK Ltd
- MERIAN GLOBAL INVESTORS UK Ltd cut its position in shares of NetEase Inc (NASDAQ:NTES) by 95.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,800 shares of the technology company’s stock after selling 90,396 shares during the period. MERIAN GLOBAL INVESTORS […]
- 07/16/2020
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China’s Rebounding Economy Now Hinges on Global Recovery
- (Bloomberg) -- China’s economic recovery is vulnerable to losing momentum as key trading partners from Japan to the U.S. struggle with resurgences of the deadly coronavirus and resort to fresh measures to control its spread.While the world’s second-largest economy returned to growth in the second quarter amid relative success in containing the virus, much of that momentum relied on state-driven industry as consumers remain cautious.“The Covid-19 situation continues to deteriorate in parts of the world,” said Ding Shuang, chief economist for Greater China and North Asia at Standard Chartered Plc. “This may weaken demand for China’s goods and services and is a main risk facing China’s economy.”Officials nodded at the global risks after a slew of data Thursday showed a steady but uneven recovery.Gross domestic product expanded 3.2% in the three months to June from a year ago, reversing a 6.8% decline in the first quarter and beating the median forecast of 2.4%. Output in the first half was still down 1.6% on the same period in 2019.In an indication of the mixed recovery, industrial output rose 4.8% in June from a year earlier -- matching estimates -- yet retail sales shrank 1.8%, much weaker than a projected 0.5% increase. At the same time fixed-asset investment shrank 3.1% in the first half of the year, versus a forecast drop of 3.3%.Liu Aihua, spokeswoman for the National Bureau of Statistics in Beijing, told reporters that the continued spread of the virus globally will remain a key constraint on any domestic recovery.“It is difficult to restart the world economy and trade,” she said, adding that “the recovery of domestic demand is restricted to a certain extent currently.”To be sure, exports and imports both rose in June, signaling a firmer footing at home and abroad and which some analysts say points to an improving picture still to come.“I think the economic recovery in China will continue in the next few quarters, even when export growth is facing some headwinds.” said Bo Zhuang, chief China economist at research firm TS Lombard.Still, data on global growth continues to disappoint. The U.K. economy’s 1.8% expansion in May was much weaker than expected. While a ZEW gauge of current conditions in Germany improved in July, confidence for the next six months slipped. The Bank of Japan warned that the economy remains in an “extremely severe situation.”Hopes for containing the virus are being strained as infections continue to spread around the world, including places like Australia and Hong Kong where it had been brought under control, pushing global cases above the 13.5 million mark.Australia’s second most populous state -- Victoria -- recorded its biggest spike in coronavirus cases Thursday, a week after it was placed into partial lockdown as it’s gripped by a second wave of infections.New LockdownsThe virus continues to flare across the U.S., with Texas reporting a record Covid-19 deaths and almost 11,000 new cases, and California seeing near-record surges.None of which bodes especially well for China, which needs export growth to return to a sustainable expansion.Private and external demand are the two biggest sources of uncertainty for the second half of the year.Private companies cut back on investment in the first six months while spending by state-owned firms saw a big jump in June, rising 2.1% in the first six months after falling 1.9% through May. Manufacturing investment was down almost 12%.A drop in the surveyed jobless rate drew caution that the reading doesn’t capture the full labor market and that tens of millions may still be out of work due to the pandemic.What Bloomberg’s Economists SayChina’s economy bounced back strongly in 2Q - but now the challenge will be to sustain the recovery. “Continued momentum in June production bodes well for growth in 2H. But weak consumer spending remains a serious, persistent drag.”\-- Chang Shu and David QuSee full note hereSimmering geopolitical tensions with the U.S. are another risk to both China’s exports and manufacturing investment, while the risk of a second wave of the virus cannot be ruled out.“A bumpy and uneven reopening in other countries implies weaker external demand, which will likely become a drag on industrial activity growth in China,” said Helen Qiao, chief Greater China economist at Bank of America.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 07/16/2020
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China’s Slowing Oil Purchases Give Bulls Something to Chew On
- (Bloomberg) -- Is it a pause, or something more profound? Either way, China’s crude purchases are stuttering, helping to put the oil price rally on hold. At least for now.While the world’s biggest importer took delivery of record amounts of crude in June, traders from Geneva to Houston to Singapore report that the country’s buying interest has cooled notably in recent weeks, taking away a key support for a strengthening global market for crude.To be clear, nobody is saying that China’s rapid recovery in underlying oil demand is hitting reverse gear, but a huge wave of purchasing in that foreshadowed the June imports had two effects. First, it swelled inventories and eased the pressure to buy now. Second, it resulted in a huge backlog of vessels waiting to unload: a logistical constraint that some traders say is curbing buying now.“This could put pressure on oil prices in the upcoming months,” said Carsten Fritsch, an analyst at Commerzbank AG. “The pace of Chinese crude buying was unsustainable. Either domestic demand is extraordinarily strong or inventories are rising massively. Be prepared for lower figures in the upcoming months.”Physical crude cargoes trade at premiums or discounts to regional benchmarks. When oil refineries have an urgent need for crude, real barrels command bigger premiums or smaller discounts.OPEC+ CurbsThat’s what had been happening until recently, especially for so-called medium density, sulfur-laced crudes that are typical of Saudi Arabia, Russia and other producer countries in an Organization of Petroleum Exporting Countries-led alliance to curb global output.While a shortfall in supplies of those barrels is still being felt acutely by the world’s refineries -- meaning there’s plenty of support for prices where they are now -- the drop in Chinese buying interest nevertheless removes a bullish factor.Still, while some purchases by China’s price-sensitive independent refiners -- so called teapots -- have slowed, those of giant national oil companies like Sinopec have been stable.Beijing has also given the teapots license to import more crude later this year, and the companies usually like to use those permits fully, fearful that if they don’t, they could suffer cuts the following year. So there’s a chance that the teapots would return to the spot market in force from September.Exports SlumpBased on tanker tracking and customs data from 27 producer countries, exporters loaded about 2.55 million barrels a day, or 22%, less crude for China last month than they did in May. The diminished June flow is likely to show up in July and August imports data, and traders say buying has remained subdued into this month.The Asian country bought a record 19.1 million barrels of Russia’s flagship Urals crude cargoes for April loading. The voyage from Russia’s Baltic Sea ports, from where most of the shipments left, takes about 40-50 days, meaning much of the April-loaded oil would have arrived in China last month.China’s plants subsequently cut their purchases sharply after a surge in prices. On top of the rally in outright prices of crude, Urals itself traded at record premium of $1.80 a barrel to its benchmark in northwest Europe on July 2, compared with $4.60 discount in late March. Only about 5.1 million barrels of Urals were shipped to China in May, and 2.2 million barrels in June, something that traders attributed to higher prices. The volume is expected to stay low in July, partly due to a deep cut in Russian exports.$40 a BarrelChina has become “a built-in stabilizer” for physical oil markets, according to Paul Horsnell, head of commodities research at Standard Chartered. The nation’s heightened buying “tends to make demand look stronger at really lower prices and the reverse at higher prices,” he said.Chinese demand for U.S. crude appears to have eased too. West Texas Intermediate crude for loading in Houston is now trading at around $1.25 a barrel above Nymex oil futures contracts. Back in April, when China picked up purchases spurred by low global oil prices, it fetched a $4 a barrel premium. Chinese interest in West African, Azeri and North Sea oil has also recently dipped from high levels, according to traders of those grades.China’s earlier buying binge has resulted in massive port congestion as deliveries have been arriving steadily in recent months, adding to wait times for discharging and putting the brakes on new purchases, according to traders.Another key reason for the loss of appetite for imports is a cap on prices that the Chinese governments will guarantee for fuels that refineries make -- equating to about $40 a barrel crude. Brent futures traded at about $42.80 a barrel on Wednesday afternoon London time.“Now that Brent is at $40 the incentive for large imports will likely diminish,” Morgan Stanley analysts analysts Martijn Rats and Amy Sergeant wrote in a note. “Over the last few months, when crude oil prices were low, China’s oil imports have risen to unusually high levels.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 07/15/2020
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Standard Chartered PLC -- Moody's announces completion of a periodic review of ratings of Standard Chartered PLC
- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Standard Chartered PLC and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
- 07/15/2020
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Were Hedge Funds Right About NetEase, Inc (NTES)?
- At the end of February we announced the arrival of the first US recession since 2009 and we predicted that the market will decline by at least 20% in (see why hell is coming). In these volatile markets we scrutinize hedge fund filings to get a reading on which direction each stock might be going. […]
- 07/14/2020
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Standard Chartered Bank (Hong Kong) Limited -- Moody's announces completion of a periodic review of ratings of Standard Chartered Bank (Hong Kong) Limited
- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Standard Chartered Bank (Hong Kong) Limited and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
- 07/14/2020
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Short Sellers Pile Into China Stocks Following July Rally
- Chinese stocks have been on fire in the past month, with the Ishares China Large-Cap Etf (NYSE: FXI) more than doubling the return of the S&P 500 in that time.
- 07/14/2020
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Advisor Group Holdings Inc. Makes New $507,000 Investment in NetEase Inc (NASDAQ:NTES)
- Advisor Group Holdings Inc. purchased a new position in NetEase Inc (NASDAQ:NTES) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,585 shares of the technology company’s stock, valued at approximately $507,000. Other institutional investors have also bought and sold shares […]
- 07/14/2020
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Short Sellers Pile Into China Stocks Following July Rally
- Chinese stocks have been on fire in the past month, with the Ishares China Large-Cap Etf (NYSE: FXI) more than doubling the return of the S&P 500 in that time. But according...
- 07/14/2020
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Alibaba: Catalysts Aplenty But Caution Is Warranted
- India's abrupt ban on 59 Chinese apps and threats of punishment over China's actions on Hong Kong and Uighurs cast a pall over the prospects of Chinese businesses.
- 07/13/2020
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China Renews Push for Increased Global Role for the Yuan
- (Bloomberg) -- Faced with the prospect of restricted access to U.S. dollars, China’s answer is to get more people to use its own currency instead.The increasing spillover of Sino-American tensions into the financial sphere has ignited a fresh push by China to promote the global use of the yuan. A growing number of government officials and influential market watchers have in recent weeks urged greater efforts on the endeavor, which gained renewed significance after China’s new Hong Kong security law triggered the threat of retaliation from Washington.While such drastic action is far from being implemented by the U.S. -- and could potentially do major damage to American interests and the entire global financial system -- the risks alone have raised alarm bells. With almost a trillion dollars in offshore bonds and loans and $1.1 trillion in state-owned bank liabilities, access to the greenback is vital for Chinese companies and lenders.“Yuan internationalization morphed from a desirable to an indispensable thing for Beijing,” said Ding Shuang, chief economist for greater China and north Asia at Standard Chartered Plc. “China needs to find a replacement for the dollar amid the political uncertainty, otherwise the nation will see financial risks.”Similar calls for moving away from the dollar followed the 2007-09 financial crisis. While China over the years made some progress -- promoting offshore yuan trading, winning official reserve-currency status from the International Monetary Fund and launching commodity contracts priced in yuan -- the renminbi is a small player on the global stage.The yuan’s share in global payments and central bank reserves remains low, at about 2%. And while a steady opening of China’s financial markets to overseas investors has lured inflows, foreign ownership of mainland stocks and bonds is relatively minor.Among the recent voices expressing urgency in China:Fang Xinghai, a top official at China’s securities regulator, said last month “our ability to defend against potential decoupling will be enhanced significantly” through yuan internationalization.Huang Yiping, a former adviser to the central bank, said it’s necessary for the country to reduce its reliance on the greenback.Zhou Li, an ex-deputy director of a government body that manages relations with foreign parties, decried China’s vulnerability to “dollar hegemony,” and said the greenback is a major risk that “has us by the throat.”Zhou Yongkun, an official at the People’s Bank of China, said last week that the country will introduce direct trading between the yuan and additional currencies, without specifying which ones.To accelerate reaching a par with counterparts such as the yen or euro, China would need to pull down its capital controls, which were tightened in the wake of a messy devaluation in 2015. But that would raise the risk of destabilizing outflows. China could alternatively expand imports and run persistent current-account deficits -- as the U.S. does -- to generate a pool of yuan balances overseas. That, too, would require a hard-to-envision policy shift.“Yuan globalization is largely hinged on convertibility under capital account -- which China is not yet ready for,” said Yu Yongding, a former adviser to the People’s Bank of China. “China is facing a severe challenge of a series of potential U.S. financial sanctions and we can’t even rule out the possibility that they may freeze China financial assets one day. I believe regulators have a contingency plan.”What’s unclear is how hard the Trump administration is prepared to push. Moves to curb a government pension fund from investing in Chinese stocks are already under way, along with tighter scrutiny of Chinese companies’ listings on American exchanges. But systematically restricting access of the world’s second-largest economy to dollar funding and transactions would be a step unprecedented since the U.S. first tolerated unregulated use of its currency abroad in the 1960s.Chinese regulators are building the China International Payment System to settle transactions outside the dollar-based platforms where the U.S. holds sway. Hong Kong, which supplies around half of the world’s offshore yuan liquidity, is also aiming to become a more prominent yuan trading center.Hong Kong regulators last month kicked off the Wealth Management Connect, which will allow cross-border investments among residents of Hong Kong, Macau and southern China. The move has implications including boosting the yuan’s international use and testing capital-account opening, analysts have said.Stronger steps could include China insisting on paying for some imports in yuan, making direct investments abroad in yuan and providing loans in renminbi -- the currency’s official name. Still, the fact that over half of Hong Kong bank deposits are denominated in foreign currencies (led by the U.S. dollar) and Chinese banks themselves have about $747 billion in foreign-exchange deposits speaks to enduring demand in greater China for greenbacks.“It’s not possible for China to have a significantly internationalized currency as things stand” now, said George Magnus, research associate at Oxford University’s China Centre and author of “Red Flags: Why Xi’s China Is in Jeopardy.”With a global yuan still years or decades away, what’s left to China meantime could be the threat of countermeasures, and highlighting the global implications of the most extreme U.S. action. Chinese banks and offshore bonds have after all become key cogs in the world system.“Cutting off the banking system’s U.S. dollar funding would be a serious blow -- for this reason, I don’t expect it to happen” to mainland China, said Magnus.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 07/12/2020
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NetEase (NTES) Looks Good: Stock Adds 6.3% in Session
- NetEase (NTES) saw a big move last session, as its shares jumped more than 6% on the day, amid huge volumes.
- 07/10/2020
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NetEase (NTES) Looks Good: Stock Adds 6.3% in Session
- NetEase (NTES) saw a big move last session, as its shares jumped more than 6% on the day, amid huge volumes.
- 07/10/2020
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Nasdaq Closes With 0.53% Gain Thursday
- The index is up 17.56% for the year Continue reading...
- 07/09/2020
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Why Chinese Stocks Popped Today
- A strong currency and government support have boosted them all week long.
- 07/09/2020
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Chinese video site Bilibili considers secondary Hong Kong listing: sources
- Chinese video site Bilibili considers secondary Hong Kong listing: sources
- 07/09/2020
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Virus-Ravaged States in India Clamor for More Funds From Modi
- (Bloomberg) -- India’s soaring coronavirus numbers are threatening its economic recovery and sharpening differences between states and Prime Minister Narendra Modi’s federal government.This week India surpassed Russia to become the third worst-hit country with more than 740,000 Covid-19 infections. The surging virus numbers have all but overwhelmed the public health system, which the states are responsible for. It’s also piling on pressure on local governments at a time when they’re scrambling to restart economic activity.The country’s sudden lockdown -- imposed without consulting state governments -- shattered the already troubled economy. All non-essential activity stalled and state tax collections fell sharply, pushing local governments to ask the federal government for funds in order to avoid racking up debt.The money crunch is putting everything -- from the salaries of government employees to their ability to fight the virus -- at risk.“My understanding of the Indian Constitution says that if states are in distress, the government of India should come to their aid,” said Manpreet Singh Badal, finance minister of the northern state of Punjab, which is ruled by the opposition Congress party. “Forget creating jobs and reviving the economy, we will be subsisting from quarter to quarter.” Punjab is set to lose a third of its expected annual revenues of 880 billion rupees ($11.7 billion), Badal said.India imposed one of the world’s largest and strictest virus lockdowns from end-March and began easing restrictions starting April 20 even as infections continued to surge.‘Chicken Feed’The same month, Modi approved 172 billion rupees in revenue-deficit grants for 14 of India’s 28 states. Another 110.9 billion rupees were advanced under the State Disaster Risk Management Fund to set up quarantine facilities. While Punjab will receive 6.6 billion rupees of the disaster relief fund, the amounts are “chicken feed” compared to the magnitude of the states’ needs, Badal said.In May, almost two months into the lockdown, Finance Minister Nirmala Sitharaman announced measures worth 21 trillion rupees to shore up the economy that’s bracing for its first full-year contraction in more than four decades. That included help to states to fund food and shelter for hundreds of thousands of migrant workers forced to head to their villages after the stay-at-home orders wiped out their jobs and incomes. Provinces have also been allowed higher borrowing limits and enhanced access to short-term cash requirements -- also called ways and means advances.When asked about states’ demands, a spokesman for the federal finance ministry referred to a speech by Sitharaman on June 12.“In July, on the request of all ministers, there shall be a meeting to discuss exclusively one agenda point, and that is compensation cess which has to be given to the states,” she had said at the June meeting of a panel on the goods and services tax, proceeds of which the Modi government shares with the provinces. The compensation was a reference to a payment made to regional governments in lieu of their giving up the bulk of their tax-making powers to the federal administration in 2017.Falling RevenuesAs the epidemic surged across the country, it’s disrupted regional budgets and fueled tensions between federal and state governments over tax collections.With ability to only tax property, alcohol and fuel sales, states’ revenues plunged during the lockdown, constraining their ability to pay salaries and service debt. States’ share in GST is also expected to drop as a slowdown in the economy is likely to hurt tax collections, while their problems are being compounded by the delay in share of taxes from the federal government.That could almost double the combined budget deficit -- the shortfall for the federal government and states -- to 12% of gross domestic product, according to Anubhuti Sahay, chief India economist at Standard Chartered Plc in Mumbai.“The impact of the pandemic on the revenue receipts of the central and state governments has been devastating,” T. M. Thomas Isaac, finance minister of Kerala, the southern state that earned global praise for its handling of the virus outbreak, wrote on June 16.GST dues worth $4.9 billion for the three months ended February were paid to states after a delay of four months on June 4. Arrears to states remain at more than 1 trillion rupees, said Isaac who has called for states to receive 60% of the tax collections instead of the current 40%.Covid GrantStates could lose as much as 1.5 trillion rupees of sales tax share as collections drop, according to M. Govinda Rao, economist and adviser to two Indian state governments. Already, states like Karnataka reported near-zero revenue collection in April and a loss of 106.7 billion rupees in tax revenues.“The government should come out with a Covid-19 grant to help states tide over,” said Rao. “What they have done so far is only to allow states to borrow more and that too with conditions like the number of economic reforms they introduce. That’s not ‘cooperative federalism’.”The introduction of GST -- which unified India’s diverse regions into a single market -- was one of the biggest reforms that Modi pushed through with the help of state governments in his first term in office. Having returned to power with a bigger mandate last year, he’s seen greater conflicts with states, particularly those led by opposition parties who have resisted his Hindu nationalist party’s backing of moves that discriminate against the Muslim minority. The current dispute remains focused on the states’ restricted fiscal ability.Frontloading FundsModi’s government may need to provide for more fiscal stimulus to push the economy, said N.R. Bhanumurthy, vice chancellor of Bengaluru-based Dr. B.R. Ambedkar School of Economics. The “fair demand” by states for higher GST funds to battle Covid-19 and economic constraints needs to be met without delays, he said.“In the current year, there is no option other than front-loading GST to the states, even if they have to borrow. Otherwise, states will be in a very bad shape.”With 80% of India’s infections limited to just eight states, financial help may be the crucial decider between virus success and failure.“Not all things are equal in terms of the transmission of this virus across the country. There are states which have been particularly hit,” said Priya Balasubramaniam, senior public health scientist at the Public Health Foundation of India. “At least these eight states, will need sustained support from the center.”The federal government can borrow funds at a cheaper rate from the market to help states which have been forced to slash capital expenditure in a year already marred by fiscal deficit constraints, Punjab’s Badal said.“The first step to tackle a problem is to admit there is one,” he said.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 07/08/2020
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Oil’s Recovery Capped by Stubborn U.S. Crude Glut, Dour Demand
- (Bloomberg) -- Oil’s rally has hit a ceiling, with U.S. crude inventories holding near a record high and gasoline demand still at the weakest seasonal level in more than 20 years.Futures in New York closed at a four-month high, but the U.S. benchmark crude has traded within a tight $2 range this month, struggling to hold above $41 a barrel. An Energy Information Administration report showing that domestic crude stockpiles rose by 5.65 million barrels last week is only adding to the malaise. While gasoline demand is improving -- particularly on the East Coast, where coronavirus cases are slowing -- seasonal consumption remains at a two-decade low.“It’s going to be tough to get prices to move much higher than $40,” said Bill O’Grady, executive vice president at Confluence Investment Management LLC. “There’s still a ton of demand weakness. It’s getting better, but there’s still a lot of weakness.”Economic uncertainty driven by the pandemic is locking oil into a holding pattern. Virus cases are spiking in gasoline-guzzling states including Texas and Florida, prompting leaders to re-impose restrictions that could dampen consumption further. Oil market volatility has tumbled and trading volumes have fallen by about a third since the start of this month.New virus cases topped 10,000 in Texas for the first time, reaching 210,585, while in Florida cases jumped 4.7% to 223,783. Confirmed cases in the U.S. have now surpassed 3 million, representing more than a quarter of all cases globally, according to data compiled by Johns Hopkins University.Oil demand next year will be only at 2017 levels, effectively meaning the coronavirus pandemic will have destroyed four years of growth, according to Standard Chartered.The EIA report also showed U.S. distillate stockpiles reached the highest level since January 1983, signaling that trucking and other industrial activity remains far below normal. At the same time, gasoline inventories declined by the most since March, led by the East Coast, suggesting that more people are hitting the road. Domestic output held steady at 11 million barrels a day.“With U.S. production not showing additional reductions and the rate of demand growth slowing due to new Covid-19 breakouts in large states such as Texas, Florida, and California, crude will likely continue to have a hard time rallying much above $40,” said Bart Melek, global head of commodity strategy at TD Securities.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 07/08/2020
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U.S. Threat on Hong Kong Dollar ‘Self-Defeating’, Say Economists
- (Bloomberg) -- The threat of U.S. action to undermine Hong Kong’s longstanding U.S. dollar peg is highly unlikely to become reality given the practical difficulties of pursing such a path and the damage it would do to U.S. interests, economists say.Economists reacted after a report that some advisers to President Donald Trump want the U.S. to undermine the Hong Kong dollar peg as the administration considers options to punish China for limiting Hong Kong’s autonomy, according to people familiar with the matter. Hong Kong has pegged its currency to the U.S. dollar since 1983, allowing it to fluctuate within a fairly strict band that has centered around 7.8 per U.S. dollar.The most straightforward way to implement such a strategy would be for the U.S. to impose limits on the ability of American and potentially other foreign banks to sell U.S. dollars to Chinese lenders, possibly via sanctions on Chinese banks, said Ding Shuang, chief economist for Greater China and North Asia at Standard Chartered Plc in Hong Kong. But that proposal opens the U.S. to potentially damaging consequences, he said.That approach “sounds quite radical and will have profound and unpredictable implications not only for China’s banks, but also the U.S. banks and the global financial market,” Ding said. “I see a low likelihood for the U.S. to resort to such a potentially self-defeating approach, before options that cause more problems for China than for the U.S. are exhausted.”China’s strong external position -- including a current account surplus, high foreign exchange reserves and anticipated speedier recovery from the pandemic -- are factors that will help to mitigate the fallout from such a step, Ding said.The proposal is said to face strong opposition from some in the U.S. administration and the idea of attacking the dollar peg is lower on the list of options under discussion -- because it would hurt Hong Kong banks and the U.S. more than China.Dollar FundingYet if the U.S. were to impose such restrictions, one way would be for the U.S. Treasury to limit U.S. banks from providing dollar funding to Hong Kong and Chinese banks, which would drive up costs, said Stephen Innes, chief global market strategist with AxiCorp.“Drying up the swap market would be the easiest vehicle,” he said. “To the degree they can exert that pressure is yet to be seen, as U.S. banks don’t want to give up access to China markets.”Other financial measures are on the table, especially given the U.S. took the step even before imposition of the security law to declare that Hong Kong was no longer significantly autonomous from China. Kevin Lai, chief economist for Asia ex-Japan at Daiwa Securities Group Inc. in Hong Kong, said an “extreme” alternative would be to cut off Hong Kong from SWIFT, or the Society for Worldwide Interbank Financial Communication, a network used to clear global currency transactions.“That’s a nuclear option -- it’s unlikely but not impossible,” he said. “Without access to the global U.S. dollar pool, the Hong Kong dollar will not be functional.”A less dramatic option would be to set limits on exposure to the Hong Kong dollar for U.S. banks and firms, said Becky Liu, head of China macro strategy at Standard Chartered.“In recent days the U.S. has taken some totally unexpected actions like withdrawing from the WHO,” she said, referring to the World Health Organization. “So the likelihood of the U.S. doing something is still very likely, it’s just likely to be less drastic in terms of impacting the convertibility between the HKD and USD.”What Bloomberg’s Economists Say...Hong Kong appears to have the will -- and it certainly has the means -- to keep the peg. Any move by the U.S. to try to force a decoupling strikes us as extremely unlikely, given the prohibitively heavy costs.David Qu, EconomistFor the full note click hereFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 07/08/2020
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Traders Skeptical That Trump Will Break Hong Kong’s Dollar Peg
- (Bloomberg) -- A proposal by some of Donald Trump’s advisers to undermine Hong Kong’s currency peg was met with skepticism by traders and analysts, who said such a move would be difficult to implement and risk hurting U.S. interests as much as it would punish China.Doubts that the idea would gain traction within the Trump administration were reflected in markets on Wednesday, with the Hong Kong dollar holding in a tight range near the strong end of its trading band against the greenback. An increase in the Hong Kong dollar’s 12-month forward points suggested a slight pickup in hedging demand, but they remained well below a May peak.Hong Kong dollar risk reversals -- a gauge of trader sentiment in the options market -- were also little changed, reflecting a lower probability of a peg break than during the height of the city’s protests last summer.Hang Seng Index futures swung between gains and losses as stock investors digested the news, moving largely in line with regional equity gauges.Shares of HSBC Holdings Plc, the biggest player in Hong Kong’s banking industry, fell as much as 3.1%. The Trump administration has been looking at ways to punish banks in Hong Kong, particularly HSBC, people familiar with the matter told Bloomberg News. The bank’s top Asia executive has come out in support of controversial national security legislation, drawing a rebuke from U.S. Secretary of State Michael Pompeo. Standard Chartered Plc, which has also publicly supported the law, slipped as much as 2.5%.One reason the market reaction has been muted: The Hong Kong Monetary Authority holds $445.9 billion in foreign exchange reserves to defend the peg should it need to. A closely watched gauge of its reserve adequacy has edged down only slightly during the city’s year of political turmoil.Here’s what people are saying about the Trump administration proposal:Patrick Bennett, head of macro strategy for Asia at Canadian Imperial Bank of CommerceIt’s a fairly wacky idea that they would be able to force Hong Kong off the peg by some means. I’ve been against the idea that Kyle Bass and others trying to break the peg -- that has been a spectacularly unsuccessful idea so far, and I expect it to be the same.Stephen Innes, chief global market strategist at AxiCorpWhy this is bad not to mention an unlikely move: First, direct U.S. action against the peg could trigger China’s response by putting U.S. assets, including USTs or equities. Second, such a move could destabilize USD pegs elsewhere, including U.S. allies around the world, especially those in the Middle East. Third, the unthinkable instability that it would trigger in the USD-based global financial ecosystem could drive a selloff in US equity markets – an outcome abhorrent to the White House ahead of the November presidential election.Xia Le, chief Asia economist at BBVA Hong KongIt’s technically difficult to impose, and it’ll hurt U.S. a lot. The peg is maintained by Hong Kong, which doesn’t need approval from the U.S. and not something the U.S. could easily manipulate. Technically, it’s very hard for them to prevent any businesses from investing in the city or limiting the ability of Hong Kong banks to buy U.S. dollars.Carie Li, an economist at OCBC Wing Hang BankAt the moment, the Trump administration isn’t seriously considering this as it’s very risky for them. It’s more about specific restrictions for financial institutions under the sanctions. Hong Kong is the world’s third-largest U.S. dollar trading center, which would mean if the HKD can’t be pegged to the USD it would be unfavorable to the U.S. by curbing the number of transactions in U.S. dollars and would lower investor confidence in the greenback.Becky Liu, head of China macro strategy at Standard Chartered BankAt this stage I personally assign a relativity low possibility for this to happen. Having said that, in the recent days U.S. has taken some totally unexpected actions by withdrawing from the WHO. So the likelihood of the U.S. doing something is still very likely, it’s just likely to be less drastic in terms of impacting the convertibility between the HKD and the USD, like setting a limit on how much exposure banks are able to have on the Hong Kong dollar or setting limits on the amount of exposure U.S. companies can have towards the Hong Kong dollar.(Adds charts, detail on market moves from third paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 07/08/2020
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Sina Gets $41-a-Share Buyout Proposal From CEO’s Company
- (Bloomberg) -- Sina Corp., a Chinese social media company, has received a take-private proposal for $41 a share from an entity led by its chairman.The company said in a statement Monday that New Wave MMXV Ltd., the anglicized name of Sina, submitted a preliminary non-binding proposal letter dated Monday for a “going private” transaction. New Wave is controlled by Charles Chao, chairman and chief executive officer of Sina, according to the statement.At $41, the U.S.-listed company would be valued at about $2.7 billion, an 11.8% premium on its last closing price on Thursday.Sina operates Weibo, a Chinese equivalent of Twitter. The firm was among the first wave of Chinese internet companies to seek listings internationally at the beginning of the century. It went public on the Nasdaq in 2000, with its shares rising 174% since then. The S&P; 500 Index rose 116% during the same period.With the encouragement of China’s government and to be closer to their customers, some U.S.-listed Chinese companies have reversed course and sought homecomings via Hong Kong listings in the past year. That includes Alibaba Group Holding Ltd., JD.com Inc. and NetEase Inc.Chao controls 13.5% of Sina’s ordinary shares, according to a filing. Sina said in its statement that New Wave and its beneficiaries control 58% of the voting power in the company. The acquisition, to be financed by a combination of debt and equity, will be evaluated by a special committee set up by Sina’s board, according to the statementAn investor group backed by private equity firms Warburg Pincus and General Atlantic offered in June to take private 58.com Inc., a Chinese online bulletin board akin to Craigslist, in a deal valuing the company at about $8.7 billion.Sina shares jumped as much as 10.8% on Monday after the announcement disclosing the offer. They closed at $40.54 in New York.(Updates with closing share price in eighth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 07/07/2020
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Stocks in Europe rally and Dow futures climb on economic optimism
- European stocks rose on Monday, as signs of economic progress offset worries about growing coronavirus cases in the U.S. as well as India.
- 07/06/2020
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Axa Increases Position in NetEase Inc (NASDAQ:NTES)
- Axa grew its holdings in NetEase Inc (NASDAQ:NTES) by 83.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,399 shares of the technology company’s stock after acquiring an additional 7,446 shares during the period. Axa’s holdings in NetEase […]
- 07/06/2020
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APG Asset Management N.V. Grows Holdings in NetEase Inc (NASDAQ:NTES)
- APG Asset Management N.V. boosted its holdings in NetEase Inc (NASDAQ:NTES) by 4.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 135,300 shares of the technology company’s stock after purchasing an additional 5,600 shares during the quarter. APG Asset […]
- 07/06/2020
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Why Youdao Stock Skyrocketed 66.9% in June
- Shares of Youdao (NYSE: DAO) gained 66.9% in June, according to data from S&P; Global Market Intelligence. NetEase issued new common stock and also had its public debut on the SEHK on June 11, and its valuation climbed roughly 8.4% last month. Youdao posted much bigger gains than NetEase, but its stock movement trends tracked closely in line with those of its parent company.
- 07/05/2020
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World’s Fifth-Largest Reserves Pile Gives India Some Comfort
- (Bloomberg) -- India has accumulated the world’s fifth-largest foreign exchange reserves at more than $500 billion, making it a bright spot in an otherwise dismal economy.The reserves were bolstered by a rare current-account surplus in the first quarter, a return of inflows into the local stock market and foreign direct investment, including into a unit of Reliance Industries Ltd., India’s largest company by revenue. That allowed the central bank to mop up close to $25 billion in foreign exchange to add to its reserves in the quarter through June, according to analysts such as Anubhuti Sahay, chief India economist at Standard Chartered Plc in Mumbai.A strong reserve buffer is a cushion against market volatility, and gives foreign investors and credit rating companies added comfort that the government can meet its debt obligations despite a deteriorating fiscal outlook and the economy’s first likely contraction in more than four decades.The following five charts take a deeper look at India’s external finances:Bigger PileThe level of reserves is enough to cover 13 months of imports and is equivalent to nearly a fifth of the country’s gross domestic product. It’s also the fifth-largest in the world after China, Japan, Switzerland and Russia, according to the International Monetary Fund. Data from the central bank on Friday showed reserves were at $506.8 billion as of June 26.“FX reserves are more than sufficient on the adequacy metrics,” said Samiran Chakraborty, chief India economist at Citigroup Inc. in Mumbai, noting that the last five-year average was 11-months cover. “Short-term debt would be around 20% of FX reserves, and even volatile capital flows have likely dropped to below 80% of reserves,” he said.Falling ImportsIndia’s trade gap narrowed to a 13-year low in May, as imports declined faster than exports. While the contraction reduces the need for dollars to fund purchases for now, it does highlight a worrying trend -- that demand in the economy has been hit hard amid one of the world’s strictest pandemic lockdowns. As a growing and emerging market economy, India needs to import capital goods and machinery to keep its industrial sector humming. Cheaper oil also helped lower the import bill.On BalanceIndia’s current account, the broadest measure of trade in goods and services, is likely to remain in surplus in the April-June period, but a recovery in imports might tilt the balance for the full year.“Improvement in economic activity over next few quarters is likely to push the current account back into deficit,” said Standard Chartered’s Sahay. “Lower commodity prices and weak global demand are likely to negatively affect remittances inflows and services exports, weighing further on the current account balance.”Capital FlowsAfter outflows in March amid a global market sell-off, foreign investment into Indian stocks have picked up in the past two months as risk appetite returned. In addition, inflows have increased with the sale of stakes in blue-chip companies like Reliance, which divested from its Jio digital platform, and Kotak Mahindra Bank Ltd. Net FDI flows made up 51.7% of total capital flows in the year ended March 31, according to Deutsche Bank AG.“We expect similar trend in FY21 as well, with net FDI flows likely to account for nearly 65% of total capital inflows,” said Kaushik Das, chief India economist at Deutsche Bank in Mumbai.External DebtData from the central bank show India’s external debt rose to $558.5 billion as of March 2020 from $474.4 billion five years ago. While the level has gone up, the ratio of foreign exchange reserves to overall debt has also risen to 85.5% from 72% in 2015.The level of debt that foreigners are likely to hold, including sovereign bonds, is likely to go up as India works to open its debt market to non-residents. The country is aiming for a 7% weighting in indexes tracked by global investors, with an inclusion likely to attract billions of dollars at a time when public finances are deteriorating.“The government intends to open up more to foreign capital in the next few years as a source of deficit financing, but foreign investors’ tolerance for government debt at current levels, with a significantly larger portion of external debt, remains to be tested,” Fitch Ratings Ltd. wrote in a recent report.(Updates with latest forex reserves data in fifth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 07/03/2020
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China Beverage Firm Wahaha Said to Mull IPO Above $1 Billion
- (Bloomberg) -- Hangzhou Wahaha Group Co., one of China’s biggest drink makers, is weighing an initial public offering that could raise more than $1 billion, according to people with knowledge of the matter.A listing could come as soon as next year, the people said, asking not to be identified as the matter is private. The beverage company is working with an adviser on preparations for the share sale, and has been considering Hong Kong among potential listing venues though no final decision has been made, they said.Founded in 1987 by entrepreneur Zong Qinghou, Wahaha has grown into a food and beverage giant with products ranging from bottled water, yogurt drinks and juice to instant noodles. The company has 80 production bases and employs about 30,000 workers, according to its website. Its products are available in more than 30 countries including Canada, Singapore and the U.S., the website said.Wahaha, which literally means a “laughing child” in Chinese, has signaled its intention for a listing last year as competition in China’s food and beverage market intensified. A listing would be “the right choice” and provide Wahaha with more resources, Kelly Zong, the founder’s daughter and an executive at the company, said in an interview with the 21st Century Herald in 2019. She didn’t provide details on preparations and timing.The company joins fellow Hangzhou-based beverage firm Nongfu Spring Co. in seeking a first-time share offering. The bottled water company filed for its Hong Kong IPO in late April and plans to raise about $1 billion, people with knowledge of the matter told Bloomberg News earlier.Chinese companies have become the force behind a surge in share sales in Hong Kong after a slow first quarter. JD.com Inc. and NetEase Inc. last month raised $7 billion through second listings in the financial hub. In the first half of this year, the tech companies accounted for almost two-thirds of the city’s total fundraisings via first-time share sales, according to data compiled by Bloomberg.READ MORE: Asia Share Sales Double in Second Quarter Amid Retreat From U.S.Preparations for Wahaha’s offering are at an early stage and details including size and timing could change, the people added. A representative for Hangzhou Wahaha Group said they hadn’t received any relevant information regarding an IPO.(Updates with IPO data in sixth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 07/03/2020
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India Rupee’s Rally Leaves Traders Gauging RBI’s Forex Strategy
- (Bloomberg) -- India’s rupee hit a three-month high after breaking out of a tight trading band, boosted by strong inflows and expectations that the central bank may be slowing its purchases of dollars.The rupee rose as much as 0.6% to 74.5562 per dollar, its highest since March 27, before closing up 0.5%. The currency has strengthened 1.3% this week in Asia’s best performance.The currency rallied 0.8% on Thursday, with traders attributing the strength to inflows from Reliance Industries Ltd.’s stake sales in its digital unit and the Reserve Bank of India stepping away from buying dollars. The prospect of a rare current-account surplus following robust foreign flows and low oil prices has burnished the rupee’s outlook, which was the region’s biggest decliner in the first six months of 2020.“India’s balance of payments surplus is one of the strongest in recent years, and we see that continuing to support the INR,” said Divya Devesh, head of Asean and South Asia FX research at Standard Chartered Plc in Singapore. “While the central bank is likely to continue with its reserves building, historically, they have not targeted specific levels.”Overseas funds piled $4.2 billion into Indian stocks in the June quarter, the highest in Asia. Reliance’s unit Jio Platforms Ltd. alone has attracted about $16 billion via stake sales. The investment arm of Intel Corp. on Friday agreed to pay 18.95 billion rupees ($253 million) for a slice of Jio.READ: Even With $500 Billion Warchest, RBI Won’t Let Rupee ClimbDespite the gush of inflows, the RBI has been resolutely purchasing dollars to build reserves, which have surged past $500 billion to a record. The central bank is estimated to have bought $17.2 billion in the seven weeks through June 19, according to Bloomberg Economics. Traders cited intermittent dollar buying by state-owned banks on Friday.“The RBI seemed to intervene around noon to minimize volatility after yesterday’s swing,” said Jateen Trivedi, senior research analyst - currency & commodities at LKP Securities Ltd.While accumulating reserve might slow the rupee’s ascent, it is unlikely to stop gains amid weakness in the U.S. dollar, StanChart’s Devesh said. He is recommending investors to ‘short’ USD-INR with a target of 73.50.(Updates with closing prices)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 07/03/2020
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Hong Kong Market Accentuates the Positive After New Security Law | MarketScreener
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Tech tycoons flood Hong Kong With US$20 billion of stock listings
- China's tycoons are flooding Hong Kong's exchange with a US$20 billion worth of new listings.
- 07/02/2020
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China’s Central Bank Is Signaling a Slower Pace of Easing
- (Bloomberg) -- China’s central bank is slowing down the pace of monetary easing amid signs of economic recovery, handing disappointment to investors who have worried about tightening liquidity and rising bond yields.Since early May, the People’s Bank of China has tolerated a steady increase in money market rates and the highest 10-year sovereign bond yield in five months. And although a fresh liquidity injection was signaled by the government two weeks ago, Governor Yi Gang is taking an unusually long time to deliver.Instead, Yi has told markets to start thinking about an “exit” from the looser financial policies seen earlier this year, even as the country faces a highly-uncertain path out of the historic economic slump in the first quarter. For now, he’s backed by the data -- a manufacturing survey released this week points to continued improvement in both demand and supply in June.Monetary policy is still easing in a broad sense, but there’s been some “partial tightening” compared with the stance in February and March, said Ding Shuang, chief economist for Greater China and North Asia at Standard Chartered Plc in Hong Kong. “The central bank supports economic recovery with eyes on faster credit growth and lower borrowing costs, but it is not to make everyone in the market happy.”With China’s finance ministry taking the lead in economic policy support this year by issuing a record amount of special-purpose bonds, the central bank is pursuing a far more restrained strategy than global peers. Though intensifying disputes with the U.S. and the risks of a second-wave of infection may be prompting officials to save stimulus for worse scenarios ahead, Yi is also warning of the risks of prolonged monetary easing.“We believe that the financial support policies in response to Covid-19 are phased policies,” he said in a speech in Shanghai on June 18. “We should pay attention to the “aftereffects” of the policies, keep the aggregates at appropriate levels, and consider in advance the reasonable timing of exit for the policy tools.Monetary policy is returning to the “pre-Covid approach” of easing that features targeted stimulus, said Liu Peiqian, China economist at Natwest Markets in Singapore. “While ensuring job stability still needs relatively fast credit growth, the loosest moment in monetary policy is behind us, owing in large part to the improving economic fundamentals.”Indeed, the economy is on track to post a small expansion this quarter, after a slump of 6.8% in the first three months. Growth in industrial output and fixed-asset investment are expected to reach a pace similar to the pre-virus level in the second half of the year, according to a recent Bloomberg survey, while retail sales and exports are still contracting.In its latest move, the PBOC cut the cost of a lending program to lower borrowing costs for small businesses from Wednesday, signaling a continuation in the targeted easing approach. The State Council also pledged to use some of the proceeds from local government debt to buy convertible bonds sold by small banks, in a bid to help them replenish capital and lend more to small businesses. What Bloomberg’s Economists Say..“The PBOC is still in an easing cycle, given the overall economic conditions. They are still providing liquidity via its 1.8 trillion yuan re-lending quota and 400 billion yuan loan purchase scheme, but this may be different from the market’s expectation (aggressive cuts in interest rates and RRR). In addition, we still expect the PBOC to cut rates and RRR over the course of the year, but they may want to wait to see the existing easing actions being transferred into lower funding costs for corporates.”David Qu, Bloomberg EconomicsThe next step in reserve-ratio cuts had been expected earlier in June after the State Council, China’s cabinet, signaled such a move. Normally, the central bank, which is not independent, will act within days to implement the government’s wish.One reason for policy restraint now lies in regulatory concerns over arbitrage practices, in which companies borrow cheaply from banks and invest in high-yield structured deposits, Bloomberg reported earlier.The concern had been that some banks were expanding too fast in issuing the products, driven by corporate demand and small banks’ need to take deposits. That would roll back some of the gains in China’s long-running deleveraging campaign.“There is no doubt that the financial arbitrage may have kept certain liquidity within the financial system, seeking speculative high returns without flowing into the real economy,” Citigroup Inc economist Liu Li-gang wrote in a note. “This risk should be addressed by using the macro-prudential policies with tightened regulation. In our view, the task to help support the real economy and stabilize growth is a more urgent task.”(Update to add policy to replenish banks’ capital in the ninth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 07/02/2020
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Tech Tycoons Flood Hong Kong With $20 Billion of Stock Listings - BNN Bloomberg
- China’s tycoons are flooding Hong Kong’s exchange with a $20 billion worth of new listings.
- 07/01/2020
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Tech Tycoons Flood Hong Kong With $20 Billion of Stock Listings
- (Bloomberg) -- China’s tycoons are flooding Hong Kong’s exchange with a $20 billion worth of new listings.While the city’s rich are preparing for a worst-case scenario amid a controversial national-security law, major mainland billionaires are coming in. The latest to do so: William Ding of NetEase Inc. and JD.com Inc.’s Richard Liu, whose companies completed secondary listings there last month. They follow Jack Ma, whose Alibaba Group Holding Ltd. stock issuance in November was the city’s largest since 2010.Together, the three moguls’ firms have raised $20 billion from share sales in the former British colony, and that may be just the start of a new wave of listings by mainlanders.“Chinese billionaires’ tech companies are helping the capital market in Hong Kong for a pivotal change and secure its Asia financial hub status,” said Edward Au, managing director of the southern region at Deloitte China. “The city’s stock exchange is also trying to make it a more appealing destination for new-economy companies.”The national-security law that was approved on Tuesday is threatening to erode Hong Kong’s judicial independence from the mainland, a key part of the city’s appeal to international companies and investors. The U.S. has already started to make it harder to export sensitive American technology to Hong Kong.While Chinese billionaires have myriad reasons for pursuing listings there -- including a less welcoming political environment in the U.S. -- their choice of the city over alternatives on the mainland may help ease concerns that the former British colony risks losing its status as a financial center.Chinese tech tycoons with companies trading in the city now have a combined net worth of $182 billion, more than the 10 richest people in Hong Kong, according to the Bloomberg Billionaires Index. For them, Hong Kong is becoming increasingly appealing as Chinese companies listed in the U.S. face growing scrutiny and potential delistings following an accounting scandal at Luckin Coffee Inc. and mounting tensions between the world’s two largest economies.JD.com and NetEase have raised a combined $7 billion with their secondary listings last month -- almost two-thirds of the total for Hong Kong in the first half of the year, according to data compiled by Bloomberg. Deloitte expects that as many as six Chinese companies currently traded in the U.S. will choose the city for a second listing by year-end. Robin Li’s Baidu Inc. is among those weighing that option.The city eased listing rules in 2018 to attract companies such as smartphone maker Xiaomi Corp. and Meituan Dianping, China’s largest on-demand food delivery service. The move could eventually reshape the composition of the benchmark Hang Seng Index, according to Deloitte’s Au. In May, the index manager announced new criteria to allow companies such as Alibaba to be included in the gauge.“The influx of these companies will greatly increase the representation of new-economy companies in Hong Kong, adding vibrancy and diversity to the market,” said Louis Lau, partner at KPMG China’s capital markets advisory group. “The continued listing of mega-sized Chinese firms also reinforces Hong Kong’s position as Asia’s financial hub.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 07/01/2020
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Investors reckon China's grip is good for Hong Kong markets
- In the streets of Hong Kong, activists protest against China's new security law. Hong Kong markets will benefit from more listings by Chinese companies, more mainland money, and more financial links with the world's second-biggest economy, traders and analysts say, despite legislation some fear will erode the city's freedoms. Beijing unveiled the law on Tuesday, and Hong Kong police made their first arrests of protesters under the legislation on Wednesday.
- 07/01/2020
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Don't sacrifice Hong Kong for a banker's bonus, UK tells HSBC
- British Foreign Secretary Dominic Raab reprimanded HSBC and other banks on Wednesday for supporting China's new security law, saying the rights of Hong Kong should not be sacrificed for bankers' bonuses. Senior British and U.S. politicians criticised HSBC and Standard Chartered last month after the banks backed China's national security law for the territory. "On HSBC and banks, I've been very clear in relation with HSBC and ... all of the banks: the rights and the freedoms and our responsibilities in this country to the people of Hong Kong should not be sacrificed on the altar of bankers' bonuses," Raab told parliament.
- 07/01/2020
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The Competing Market Narratives Make Sense: Don't Feel Forced To Choose Between Them
- Two compelling market narratives pull in opposite directions. Will the Fed's wall of money overcome the weakness of the economy. Most investors should not feel
- 07/01/2020
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NetEase Issues First Environmental, Social and Governance (ESG) Report
- NetEase, Inc. (NASDAQ: NTES; HKEX: 9999) ("NetEase" or "the Company"), one of China's leading internet and online game services providers, today announced that it has published its first Environmental, Social and Governance (ESG) report, outlining the Company's ESG policies and performance. The report also provides insight into NetEase's decision making, which considers the impact its actions have on its users, employees, business partners and all stakeholders.
- 06/30/2020
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Harry Potter RPG: Rumors, Release Date, And Everything That Users Need to Know
- Details on the release window, platforms, story, and more have been leaked.
- 06/30/2020
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Video-Game Giant Activision Blizzard’s CEO Says China Is ‘Restricted’ Market - BNN Bloomberg
- Selling in the Chinese video-game market has been difficult, according to Bobby Kotick, chief executive officer of Activision Blizzard Inc., the largest U.S. publisher.
- 06/30/2020
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China firms behind 50% of global equity raised in H1 2020
- FIRMS in China brought in half of equity capital raised globally this year so far, setting a record that highlights the economy's earlier revival from the Covid-19 pandemic, plus the degree to which soured US relations are turning Chinese firms homeward. Read more at The Business Times.
- 06/29/2020
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A Second Virus Wave Is Threatening U.S. Oil Demand Again
- (Bloomberg) -- After months of empty roads, lockdowns were easing and people were getting behind the wheel again. A station in Northern California was selling gasoline for a whopping $5.98 a gallon.Then the coronavirus struck again -- in a fierce way. Californians, Floridians and Texans are back in hiding, and the recovery in driving that had restored highway travel nationwide back to 85% of last year’s levels is looking more fragile than ever.As lockdowns eased and parts of the world reopened for business, driving emerged as the transportation mode of choice and offered some relief for the oil market just two months off of its worst collapse in history. But the fresh resurgence of the virus in the three states with the country’s biggest gasoline markets is threatening to take American drivers off the road and stymie what has been a remarkable recovery for oil.Demand has been flatlining over the past few days at fuel stations across the country with concern over the surge in virus cases making it hard to predict what’s to come, according to one major operator of gasoline stations in the U.S.Houston freeways that were starting to jam up earlier in June as businesses reopened and commuters returned to offices have emptied out again. The county declared its highest level of emergency Friday after area intensive care units reached maximum capacity. Texas Governor Greg Abbott halted plans to reopen the economy further and is rolling back the opening of bars.Road congestion was stable at below-normal levels in the U.S. Thursday, according to data compiled by BloombergNEF. Rush hour commutes in Los Angeles last week took about 30% longer than they would have on empty roads, while a year ago the same drive averaged almost 90% longer that it would have.Movement over time by geography across retail and recreation, grocery stores, parks, and workplaces, were markedly down in Florida and Texas as of June 22 compared to a baseline take from Jan. 3 to Feb. 6, data from Google COVID-19 Community Mobility Reports show. In California, mobility was also well-below the baseline in every area but parks, which was 8% higher than the winter.“Now, we have much lower employment and many companies are telling people don’t come to work right now,” said Robert Campbell, head of oil-products research at Energy Aspects Ltd. “It’s inconceivable that gasoline demand is going to be higher this summer.”California, Texas, and Florida accounted for over 40% of the new virus cases on June 24 and Standard Chartered Plc. sees the surge in the top three gasoline-consuming U.S. states weighing on a recovery. Even though the four-week average for gasoline supplied, a demand indicator, climbed for the last eight straight weeks, according to the Energy Information Administration, it is at the lowest level for this time of year since 1996.“If Florida, California and Texas react to this by issuing shelter-in-place or adding new restrictions on movements, this certainly could be detrimental to gasoline demand,” said Patrick DeHaan, an analyst at GasBuddy. “If you do see a resurgence continue in these states, that’s going to spell doom for demand this summer.”Gasoline demand in the U.S. fell 2.3% Saturday from the same day the week prior, but is up 3.9% from the same Saturday a month ago, according to data from GasBuddy. Demand is down about 19.1% from the same time last year though.The second wave of outbreaks -- with 39,907 new Covid-19 cases recorded on Thursday exceeding the level of the peak of 36,188 set April 24 -- is threatening to keep Americans indoors with popular travel destinations walking back plans to resume operation.In California, Walt Disney Co. has indefinitely delayed the reopening of its theme parks after previously planning to open in July. Disneyland’s home of Orange County is now showing the fourth-biggest increase of virus cases in the state. The park usually draws about 1.6 million people a month.Chevy Chase-StyleStill, not all Americans have been quick to do away with summer vacation plans entirely, and they’re more likely to drive than fly this summer. Interstate highway miles driven rose 5% in the week ended June 21, according to the U.S. Department of Transportation. But that is still a 15% decrease from a year ago.Fay Carey from McPherson, Kansas, and her fiancé, plan to drive 450 miles over to Yellowstone National Park in a Jeep Cherokee after their wedding in Colorado, opting to skip the airport and potentially packed flights.“Driving, you just seem so much more in control about who is around us,” she said. “That lends a lot of safety to me.”And that’s what highway rest stops and fast-food stores are banking on. This year has allowed for more direct competition with retailers at airports for consumers’ travel dollars, said Jon Pertchik, chief executive officer of the about 270-store chain TravelCenters of America Inc. He envisions families plotting trips like those in the iconic 1980’s movie “National Lampoon’s Vacation.”“People are itching to get out and about in a safe way,” he said. “We are going to see people get out for that Chevy Chase-style road vacation.”The chain is seeing more recreational vehicles, or “Covid Campers,” this year, Pertchik said. That might also provide a boost to gasoline consumption.Goldman Sachs Group Inc. sees the gasoline-hungry RV industry as a smart pandemic play.“That’s sort of the perfect vacation during this Covid time, right? It’s literally ‘drive to’ because you drive in on your RV. You don’t have to travel on a plane,” Nora Creedon, managing director and global head of REITs & Infrastructure at Goldman Sachs, said on Bloomberg Television.But road trips are becoming spur of the moment. Auto club AAA says travelers are planning only two to seven days in advance mostly, electing to remain flexible to sudden spikes in virus cases. Plus, gasoline is cheap these days, averaging about $2.18 a gallon at the pump, 54 cents below last year’s levels.AAA sees Americans taking 683 million road trips this summer, a 3.3% decline from last summer.Still, even a low-cost road trip may not be tempting enough to some who are in the high-risk category for contracting the virus or those who are facing financial strains with nearly 20 million Americans still receiving state jobless benefits.(Updates with demand figures in 11th paragraph and AAA prices in third to last paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 06/29/2020
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The Holding Foreign Companies Accountable Act Is A Blessing In Disguise
- With China markets closed for the Dragon Boat Festival from Wednesday, it was left to the U.S. to determine the direction for the Chinese ETFs.
- 06/29/2020
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Chinese companies brought in 50% of equity raised globally in first half of 2020
- China-based companies sold shares worth $32.1 billion in January-June including multi-billion-dollar secondary listings in Hong Kong
- 06/29/2020
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CORRECTED-Chinese companies take record 50% of global equity raising in first half of 2020
- Firms in China brought in half of equity capital raised globally this year so far, setting a record that highlights the economy's earlier revival from the COVID-19 pandemic, plus the degree to which soured U.S. relations are turning Chinese firms homeward.
- 06/29/2020
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Hong Kong Heads Into Busiest Week for IPOs in Months - BNN Bloomberg
- Hong Kong is heading into the busiest week for initial public offerings in four months with six companies launching listings worth $1.7 billion combined on Monday.
- 06/29/2020
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Chinese Companies Take Record 50% Of Global Equity Raising In First Half Of 2020
- China-based companies sold shares worth $32.1 billion in January-June, equivalent to 49.8 per centof worldwide offerings
- 06/29/2020
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Chinese firms take record 50% of global equity raised in first half of 2020
- China-based companies sold shares worth $32.1 billion in January-June including multi-billion-dollar secondary listings in Hong Kong
- 06/29/2020
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Chinese firms take record 50% of global equity raising in H1 2020
- Chinese fundraising has been helped by the popularity of Shanghai's year-old growth-focused STAR Market, as well as IPOs in Hong Kong and the massive secondary listings - including the $3.9 bn raised by e-tailer JD.com this month and $3.1 bn by games developer NetEase
- 06/29/2020
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Tencent, NetEase, NEC Among Top Picks: Morphic AM
- Jun.29 -- Claudia Kwan, analyst at Morphic Asset Management, shares her Asian stock picks for the second half of the year.
- 06/29/2020
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Chinese companies take record 50% of global equity raising in first half of 2020
- HONG KONG (REUTERS) - Firms in China brought in half of equity capital raised globally this year so far, setting a record that highlights the economy's earlier revival from the Covid-19 pandemic, plus the degree to which soured US relations are turning Chinese firms homeward.. Read more at straitstimes.com.
- 06/29/2020
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Chinese companies take record 50% of global equity raising in first half of 2020
- [HONG KONG] Firms in China brought in half of equity capital raised globally this year so far, setting a record that highlights the economy's earlier revival from the Covid-19 pandemic, plus the degree to which soured US relations are turning Chinese firms homeward. Read more at The Business Times.
- 06/29/2020
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Chinese companies take record 50% of global equity raising in first half of 2020
- Firms in China brought in half of equity capital raised globally this year so far, setting a record that highlights the economy's earlier revival from the COVID-19 pandemic, plus the degree to which soured U.S. relations are turning Chinese firms homeward.
- 06/29/2020
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Chinese companies take record 50% of global equity raising in first half of 2020
- HONG KONG (June 29): Firms in China brought in half of equity capital raised globally this year so far, setting a record that highlights the economy's earlier revival from the COVID-19 pandemic, plus the degree to which soured U.S. relations are turning Chinese firms homeward. China-based companies sold shares worth $32.1 billion in January-June including multi-billion-dollar secondary listings in Hong Kong, equivalent to 49.8% of worldwide offerings, showed data from Refinitiv. The total for U.S. firms was $15.8 billion.
- 06/29/2020
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Chinese companies take record 50% of global equity raising in first half of 2020
- Firms in China brought in half of equity capital raised globally this year so far, setting a record that highlights the economy's earlier revival from the COVID-19 pandemic, plus the degree to which soured U.S. relations are turning Chinese firms homeward.
- 06/29/2020
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Rumored Harry Potter RPG Reportedly Releasing In 2021
- According to Bloomberg, the Harry Potter role-play game (RPG) rumored since 2018 is "very real" and is being developed by Disney Infinity studio Avalanche Software.
- 06/29/2020
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Chinese companies take record 50% of global equity raising in first half of 2020
- Firms in China brought in half of equity capital raised globally this year so far, setting a record that highlights the economy's earlier revival from the COVID-19 pandemic, plus the degree to which soured U.S. relations are turning Chinese firms homeward.
- 06/28/2020
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Chinese companies take record 50% of global equity raising in first half of 2020
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Oil Rises on Russian Export Cuts, Offsets Virus Demand Jitters
- (Bloomberg) -- Oil prices rose after Russia slashed exports of its flagship crude Urals to the lowest in at least 10 years, signaling the determination of Moscow to work with its partners at OPEC+ to eliminate an oil glut.Futures in New York gained 1.9% Thursday. Still, with the virus driving recovery prospects, a dose of pessimism has returned to the oil market. In Texas, the epicenter of the U.S. oil industry, the governor warned that a “massive outbreak” is sweeping the state. New infections also reached daily records in Florida and California, with the fear of new lockdowns sending U.S. gasoline futures tumbling by the most in two months Wednesday.The uncertain demand picture has highlighted the test facing refiners in recent days. Nine of the top 20 gasoline-consuming states are showing an upward trend in new cases, Standard Chartered said in a note. While refining profits are recovering from catastrophic levels in Europe, according to Total SA, the virus’s second wind in the U.S. casts doubts on the future of American consumption at a time when crude inventories are already at record-high levels.“Refiners are in the unenviable position of increasing run rates and running the risk of posting a gasoline storage build in summer,” said Robert Yawger, director of the futures division at Mizuho Securities USA, in a note to clients Thursday morning. The other option is “cutting run rates and extending the all-time record crude oil storage level,” he said.The stubborn U.S. supply glut has capped oil’s rally from from its historic plunge below zero in April, with West Texas Intermediate crude futures struggling to hold above $40 a barrel in recent weeks. While that’s high enough to induce shale drillers to restart their idled output as soon as this month, increasing production could exacerbate the surplus and undercut prices just as they’re improving. The physical market has weakened in recent weeks, with differentials for a key U.S. grade for export trading at just 70 cents a barrel versus $1.20 at the beginning of the month.Rising U.S. output also would complicate OPEC and its allies’ goal of trimming global crude inventories by almost 10 million barrels a day. Brent crude’s prompt timespread has dropped into contango again, a structure that suggests oversupply.“If the economy doesn’t pick up, that will become a drag on crude oil demand just when OPEC+ has to make a decision about what to do next,” said Ole Hansen, head of commodities strategy at Saxo Bank. There’s a risk of oil dropping further “if cracks should appear in the OPEC+ resolve to keep barrels off the market.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 06/25/2020
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Alibaba's Jack Ma Toppled By Tencent's Pony Ma As China's Richest
- The coronavirus pandemic has accelerated the digitization of the workplace and changed consumers' habits, boosting shares of many internet companies.
- 06/25/2020
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Alibaba's Jack Ma dethroned as China's richest by Tencent's Pony Ma
- HONG KONG (BLOOMBERG) - Tencent Holdings' US$40 billion (S$55.7 billion) surge this week and the recent ascent of Pinduoduo Inc have reshuffled the ranking of China's richest people.. Read more at straitstimes.com.
- 06/24/2020
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Jack Ma dethroned as China’s richest by Tencent’s Pony Ma
- The country’s largest game developer has surpassed Alibaba Group Holding Ltd. as Asia’s most-valuable company, with its shares rising above HK$500 in intraday trading Wednesday for the first time.
- 06/24/2020
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Tencent's 48-yr-old Pony Ma dethrones Jack Ma to become China's richest
- Pony Ma overtook real estate tycoon Wang Jianlin as Chinas second-richest person in 2013.
- 06/24/2020
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Tencent's Pony Ma is now China's richest person
- China’s largest game developer has surpassed Alibaba Group as Asia’s most-valuable company.
- 06/24/2020
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Jack Ma dethroned as China’s richest by Tencent’s Pony Ma
- The country’s largest game developer has surpassed Alibaba Group Holding Ltd. as Asia’s most-valuable company, with its shares rising above HK$500 in intraday trading Wednesday for the first time.
- 06/24/2020
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Jack Ma dethroned as China’s richest person by Tencent’s Pony Ma
- Pony Ma, worth US$50 billion, has surpassed Jack Ma’s US$48 billion fortune
- 06/24/2020
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Tencent’s Pony Ma now China’s richest person
- Surpassing Jack Ma.
- 06/24/2020
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Tencent's Pony Ma dethrones Jack Ma to become China's richest
- Tencent’s Pony Ma, worth $50 billion, has surpassed Jack Ma’s $48 billion fortune.The coronavirus outbreak has pushed forward the digitization of the workplace and changed consumers’ habits, boosting shares of many internet companies
- 06/24/2020
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Jack Ma dethroned as China's richest by Tencent's Pony Ma
- Tencent Holdings Ltd’s US$40 billion surge this week and the recent ascent of Pinduoduo Inc have reshaped the landscape of China’s richest people. The country’s largest game developer has surpassed Alibaba Group Holding Ltd as Asia’s most-valuable company, with its shares rising above HK$500 (US$64.50) in intraday trading Wednesday for the first time ever.
- 06/24/2020
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Jack Ma dethroned as China's richest by Tencent's Pony Ma - BNN Bloomberg
- Tencent Holdings Ltd.’s $40 billion surge this week and the recent ascent of Pinduoduo Inc. have reshaped the landscape of China’s richest people.
- 06/24/2020
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Jack Ma Dethroned as China's Richest by Tencent's Pony Ma
- (Bloomberg) -- Tencent Holdings Ltd.’s $40 billion surge this week and the recent ascent of Pinduoduo Inc. have reshaped the landscape of China’s richest people.The country’s largest game developer has surpassed Alibaba Group Holding Ltd. as Asia’s most-valuable company, with its shares rising above HK$500 ($64.50) in intraday trading Wednesday for the first time ever. Pinduoduo, a Groupon-like shopping app also known as PDD, has more than doubled this year.The rallies have propelled the wealth of their founders, with an added twist: Tencent’s Pony Ma, worth $50 billion, has surpassed Jack Ma’s $48 billion fortune, becoming China’s richest person. And Colin Huang of PDD, whose net worth stands at $43 billion, has squeezed real estate mogul Hui Ka Yan of China Evergrande Group out of the top three earlier this year, according to the Bloomberg Billionaires Index.The coronavirus outbreak has pushed forward the digitization of the workplace and changed consumers’ habits, boosting shares of many internet companies. Now tech tycoons are dominating the ranks of China’s richest people. They take up four of the top five spots: Ding Lei of Tencent peer NetEase Inc. follows China Evergrande’s Hui.‘Perform Strongly’Tencent has come a long way since hitting a low in 2018, when China froze the approval process for new games. Since then, the stock has almost doubled, and the tech giant reported last month a 26% jump in revenue for the first quarter.“Tencent’s online games segment will probably perform strongly through the Covid-19 pandemic, and most of its other businesses are relatively unscathed,” said Vey-Sern Ling, senior analyst of Bloomberg Intelligence.That’s been a boon for Pony Ma, 48, who owns a 7% stake in the company and pocketed about $757 million from selling some 14.6 million of his Tencent shares this year, data complied by Bloomberg show.Pony Ma, a native of China’s southern Guangdong province, studied computer science at Shenzhen University and was a software developer at a supplier of telecom services and products before co-founding Tencent with four others in the late 1990s. At the time, the company focused on instant-messaging services.It’s been a long comeback for Pony Ma. He overtook real estate tycoon Wang Jianlin as China’s second-richest person in 2013 and topped Baidu Inc.’s Robin Li as the wealthiest in early 2014. Later that year, Alibaba went public in the U.S., catapulting Jack Ma’s fortune.Bloomberg Intelligence’s Ling notes, however, that Tencent’s jump this year has lagged some internet peers, especially those in e-commerce, games and online entertainment. Just consider: Tencent shares have climbed 31% in 2020, compared with 121% for PDD.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 06/24/2020
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Bank of Thailand Sees 8.1% Contraction, Pledges More Support
- (Bloomberg) -- The Bank of Thailand held its benchmark interest rate at an all-time low to support an economy it now sees contracting more than 8% this year, the worst on record.The central bank kept its policy rate at 0.5% on Wednesday in a unanimous decision, in line with the forecasts of all but four of the 26 economists in a Bloomberg survey.Policy makers revised down their growth forecast sharply, predicting an 8.1% contraction for this year, compared with a previous projection of a 5.3% decline. The coronavirus pandemic has devastated two of the economy’s main growth drivers, tourism and trade, with a slow recovery seen.With interest rates close to zero, the central bank is slowly running out of conventional policy space to support the economy. Officials have said they are studying unconventional steps, such as asset purchases and some form of yield curve control.“While the decision to hold rates unchanged came as no surprise, the sharp downward revisions to growth and inflation forecasts highlight the extent of pressure on the economy,” said Mitul Kotecha, a senior emerging markets strategist at TD Securities in Singapore.Some of the additional forecasts outlined by the central bank on Wednesday:Gross domestic product is seen rebounding to 5% next year, higher than the 3% forecast in MarchConsumer prices will probably contract 1.7% this year compared with a previous projection of -1%; core inflation is seen at 0%Exports will probably plunge 10.3% this year versus a previous forecast of -8.8%Tourist arrivals in 2020 will probably reach 8 million, down from an earlier projection of 15 million“BoT’s new forecasts signal slower economic recovery, leaving room for further rate cuts,” said Tim Leelahaphan, an economist at Standard Chartered Plc in Bangkok. “We forecast a 25 basis point cut in the third quarter.”With the virus outbreak easing, the government has begun lifting lockdown restrictions and reopening parts of the economy, giving a boost to local demand. Export demand remains weak though, with data on Wednesday showing a 22.5% plunge in shipments in May from a year earlier, the biggest drop since 2009.The currency is also emerging as a concern for policy makers worried that the strong baht will further undercut the fragile economy. The baht has gained more than 6% against the dollar in the past three months, making it the best performer in Asia after Indonesia’s rupiah.The monetary policy committee is “concerned about the strengthening baht which affects the economic recovery,” Titanun Mallikamas, an assistant governor, told reporters in Bangkok. “They see the need to monitor the baht closely and assess the need for additional measures if needed.”Thailand’s benchmark SET Index reversed its gain, falling 0.2% as of 2:52 p.m. in Bangkok. The baht extended its advance, rising 0.4% against the dollar.TD Securities’ Kotecha said the central bank will likely deliver more currency measures in the weeks ahead.“However, it is notable that the baht has so far ignored such measures and it will be a challenge to prevent further appreciation,” he said.The Bank of Thailand is facing a leadership transition with current Governor Veerathai Santiprabhob planning to leave his post after completing his five-year term in September. A selection committee is considering applications from four candidates, including from two current deputy governors, according to local media reports.(Updates with new GDP forecasts starting from first paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 06/24/2020
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Jack Ma dethroned as China’s richest person by Tencent’s Pony Ma
- The country’s largest game developer has surpassed Alibaba Group Holding Ltd. as Asia’s most-valuable company.
- 06/24/2020
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Apple vows to remove thousands of unlicensed iPhone games in China
- Apple will start removing thousands of mobile games lacking government approval from its App Store in China next month.
- 06/23/2020
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China punishes Tencent, ByteDance apps in renewed clampdown
- China has penalised 10 of the country’s most popular live-streaming apps, suspending some of their operations in a renewed crackdown on fast-growing services backed by Tencent Holdings Ltd and ByteDance Ltd.
- 06/23/2020
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Tencent Shares Rise to Record High on Tech Tailwind | MarketScreener
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China Punishes Tencent, ByteDance Apps in Renewed Clampdown
- (Bloomberg) -- China has penalized 10 of the country’s most popular livestreaming apps, suspending some of their operations in a renewed crackdown on fast-growing services backed by Tencent Holdings Ltd. and ByteDance Ltd.Regulators singled out ByteDance’s Xigua and three apps run by Tencent-backed firms -- Bilibili Inc., Huya Inc. and DouYu International Holdings Ltd. -- among those subject to punishments ranging from halting new user sign-ups to suspending content updates for “main channels,” the Cyberspace Administration of China said in a notice posted Tuesday. The watchdog said those services must rectify vulgar and other problematic content and that it’s blacklisted selected live-streaming hosts, without elaborating. NetEase Inc.’s CC Live and Baidu Inc.’s Quanmin were also among those named.Beijing is intensifying scrutiny over the country’s internet giants as they deepen forays into content and user contingents grow into the hundreds of millions. Livestreaming in particular has burgeoned in past years as platforms from Bilibili to DouYu become vibrant social media forums that penetrate well beyond cities and into the countryside, enabling an explosion of communications that’s proven increasingly difficult to monitor. That in turn has fostered a growing cohort of online influencers with followings in the millions.It’s unclear what the content suspensions encompass. Both Huya and DouYu, which divide content into channels like games or entertainment, posted in the main recommendation section of their apps that they have “suspended updates” since Tuesday, without elaborating. Representatives for Baidu, Bilibili, ByteDance, Huya, NetEase and DouYu didn’t immediately respond to requests for comment.Read more: The Billion-Dollar Race to Become China’s Amazon TwitchThe migration of viewership online during the pandemic has only accelerated the phenomenon. China’s top state broadcaster recently criticized Huya for hosting gaming ads in a channel offering free online courses for homebound students. In response, the company shut its learning page and offered refunds to minors who spent their parents’ money on games, the app said in a statement.In April, Chinese regulators suspended key channels in Baidu’s flagship mobile app, citing vulgar content. That two-week punishment could reduce revenue from its core search and feed business in the June quarter by close to 2%, according to an estimate by Jefferies analyst Thomas Chong.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 06/23/2020
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2 Chinese Tech Stocks To Consider As US Rally Loses Steam
- 2 Chinese Tech Stocks To Consider As US Rally Loses Steam
- 06/22/2020
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US-Listed Data Center Giant GDS Weighs Hong Kong Secondary Share Sale
- The potential transaction could raise about $1 billion for the Shanghai-based developer of hyperscale data centers.
- 06/22/2020
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2 Chinese Tech Stocks To Consider As US Rally Loses Steam
- Tech stocks around the world have been rallying from the depths of pandemic trade with a ferocity that hasn’t been seen since the 90s.
- 06/22/2020
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Apple will remove thousands of unlicensed iPhone games in China
- There’s no telling how long it will take to remove all unlicensed games once the change comes into effect. Chinese gaming blog Gamelook earlier reported Apple’s upcoming enforcement.
- 06/22/2020
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Apple will remove thousands of unlicensed iPhone games in China
- HONG KONG (June 22): Apple Inc will start removing thousands of mobile games lacking government approval from its App Store in China next month, closing a loophole that the likes of Rockstar Games have relied on for years.
- 06/22/2020
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Apple will remove thousands of unlicensed iPhone games in China - BNN Bloomberg
- Apple Inc. will start removing thousands of mobile games lacking government approval from its App Store in China next month, closing a loophole that the likes of Rockstar Games have relied on for years.
- 06/22/2020
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Apple Will Remove Thousands of Unlicensed iPhone Games in China
- (Bloomberg) -- Apple Inc. will start removing thousands of mobile games lacking government approval from its App Store in China next month, closing a loophole that the likes of Rockstar Games have relied on for years.Developers and publishers in China have been told that their iOS games will need licenses to continue operating from July, according to people familiar with the matter. The decision ends the unofficial practice of allowing games to be published while awaiting authorization from the country’s slow-moving regulators.This has until now allowed games such as Grand Theft Auto, whose gory depictions of violence are unlikely to ever pass muster with Chinese censors, to be available within the country’s borders. China’s regulators require all games that are either paid or offer in-app purchases to submit for review and obtain a license before publication, and major Android app stores have enforced such rules since 2016. But unapproved games have flourished on Apple’s iPhone platform.It’s unclear why Apple -- a target of numerous regulatory clampdowns in the past -- hasn’t moved as swiftly as other app stores in China, which are owned and operated by local mobile giants like Alibaba Group Holding Ltd. and Xiaomi Corp.The latest approvals process took effect in 2019 amid confusion among industry players about the speed with which Beijing, known for months-long content reviews that may or may not lead to a monetization license, would process requests. For its part, Apple has begun ramping up oversight of its Chinese app store, removing two podcast apps earlier this month at China’s request.Back in February, Apple reminded iOS developers in the country to obtain licenses for their titles by June 30. But it was only after prolonged uncertainty about enforcement that the iPhone maker explicitly told publishers that any unlicensed games after the deadline will be banned and removed from the local App Store, according to the people, who asked not to be identified because the matter is not public.There’s no telling how long it will take to remove all unlicensed games once the change comes into effect. Chinese gaming blog Gamelook earlier reported Apple’s upcoming enforcement.An Apple representative declined to comment.China accounted for about a fifth of the $61 billion in digital goods and services sold via Apple’s App Store in 2019, making it the largest market after the U.S., the Analysis Group estimates. Apple takes a 30% cut from the majority of such transactions.There are roughly 60,000 games on China’s iOS App Store that are either paid or contain in-app purchases, and at least a third of them don’t have a license, according to an estimate by AppInChina, which helps companies localize and publish their apps in the country.“These companies will suddenly lose all revenue from what is typically their second-largest market after the U.S.,” said AppInChina Chief Executive Officer Rich Bishop. His firm received three times its usual volume of enquiries about game licenses over the past week, he added.Apple’s new effort highlights the Chinese government’s tightening grip on gaming. Citing concerns about the proliferation of addiction among minors and the dissemination of offensive content, regulators now adopt a much stricter and slower review process than before they temporarily halted all approvals in 2018.While big local players like Tencent Holdings Ltd. and NetEase Inc. have adapted their existing cash cows and can respond to censors’ demands in the development of new games, smaller developers and publishers lack the same resources. Many of them have started attaching a single license to multiple games with similar gameplay, logos or heroes, though the government is aware of the practice and cracking down on it as well.Imported games are under particularly tight scrutiny, and the App Store loophole served as a last resort for getting some of them distributed in China. Plague Inc., which mimics the spread of an epidemic, had topped the download charts on China’s App Store for weeks during the country’s Covid-19 lockdown. But the unlicensed title was pulled in March after Chinese regulators deemed it to have “illegal” content, according to its developers.Neither of the remaining options for small game developers appears particularly enticing. They could switch their revenue model to in-app advertising, which is not covered by the same approval process. Or they can team up with big publishers like Tencent to obtain licenses, though that would involve giving up some measure of autonomy, while Tencent itself is more interested in well-known franchises.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 06/22/2020
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U.S.-Listed GDS Weighs Hong Kong Secondary Share Sale - BNN Bloomberg
- GDS Holdings Ltd., a Chinese data center company traded on the Nasdaq, is considering selling shares in Hong Kong as early as this year, following in the steps of U.S.-listed Chinese firms like NetEase Inc. and JD.com Inc., according to people with knowledge of the matter.
- 06/22/2020
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Morgan Stanley Snaps Up Asia Health Care Deals - BNN Bloomberg
- When it comes to equity offerings in the health-care sector, Morgan Stanley has a solid lead.
- 06/22/2020
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U.S.-Listed GDS Weighs Hong Kong Secondary Share Sale
- (Bloomberg) -- GDS Holdings Ltd., a Chinese data center company traded on the Nasdaq, is considering selling shares in Hong Kong as early as this year, following in the steps of U.S.-listed Chinese firms like NetEase Inc. and JD.com Inc., according to people with knowledge of the matter.GDS is working with investment banks on the potential transaction, which could raise about $1 billion for the Shanghai-based firm, the people said, asking not to be identified because the matter is private. Deliberations are preliminary and both the timing and size of the deal could still change, the people said.A representative for GDS declined to comment on the matter.Founded in 2001, GDS develops and operates data centers in major Chinese cities such as Beijing, Shanghai and Guangzhou, according to its website. Its customers include internet companies, financial institutions, telecommunications carriers and IT services providers as well as other local and multinational firms.The company debuted in the U.S. in 2016. Its shares have risen nearly 46% this year, giving it a market value of about $11.4 billion.A secondary listing in Hong Kong would see GDS follow the blockbuster deals of e-commerce giant JD.com and NetEase, China’s second largest gaming company. Last week, JD.com, which is also listed on the Nasdaq, raised $3.9 billion in its Hong Kong equity sale. NetEase Inc. raised $2.7 billion in its Hong Kong offering earlier this month.The listings are a positive sign for Hong Kong, coming after China passed a national security law for the city that critics fear could jeopardize its status as a global financial hub. They follow Alibaba Group Holding Ltd.’s $13 billion stock sale in Hong Kong last year, which was hailed as a homecoming for Chinese companies listed overseas.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 06/22/2020
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Who stands to benefit from China-US hostility? Hong Kong investors
- Your source for credible news and authoritative insights from Hong Kong, China and the world.
- 06/21/2020
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The Best Stocks To Buy On Down Days
- Risk/reward shifts back to neutral, suggesting volatility will continue through the end of the quarter. Healthcare and technology are top sectors to buy on sale
- 06/21/2020
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Elon Musk sells Bel-Air house to Chinese billionaire for $29 million: WSJ
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Elon Musk sells Bel-Air house to Chinese billionaire for $29 mln - WSJ
- Tesla Inc Chief Executive Officer Elon Musk has sold one of his homes in the Bel-Air area of Los Angeles for $29 million, the Wall Street Journal reported on Friday, citing public records. Musk bought the house for $17 million in 2012 from Mitchell Julis, co-founder of hedge fund Canyon Capital Advisors, according to the report. Musk still owns other properties in the area, the WSJ report said.
- 06/19/2020
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19 of the Best Stocks You've Never Heard Of
- To hear some tell it, bigger is always better on Wall Street.After all, when Amazon.com (AMZN) is worth $1.2 trillion and boasts a dominant market share in both e-commerce and cloud computing - two megatrends that aren't disappearing anytime soon - why bother with the little guys?But those monitoring only mega-caps when seeking out the best stocks to buy might have failed to notice under-the-radar picks with more modest market values that have led the market's rally since March. As proof, consider that the small-cap Russell 2000 is up 44% since it bottomed out March 18, compared with about 39% for the blue-chip S&P; 500 off its March 23 lows.If you're looking to outperform the market in 2020, then, you have to look beyond the usual suspects. Not only are larger stocks as a group lagging behind their smaller brethren lately, but a more fundamental fact is that most index funds are weighted toward larger companies by design; Amazon, Apple (AAPL) and Facebook (FB) currently represent about 15% of the entire S&P; 500\. The remaining 85% is split among 497 other components!Whether you're looking for bigger returns or simply better diversification, here are 19 of the best stocks you've never heard of. SEE ALSO: 50 Top Stock Picks That Billionaires Love
- 06/19/2020
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NetEase: U.S.-China Trade War Will Not Affect The Stock
- NetEase: U.S.-China Trade War Will Not Affect The Stock
- 06/19/2020
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19 of the Best Stocks You've Never Heard Of
- To hear some tell it, bigger is always better on Wall Street.
- 06/19/2020
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NetEase to Go Global with 'Harry Potter', 'Lord of the Rings' after Secondary Listing
- NetEase is set to partner with the "Lord of the Rings" and "Harry Potter" franchises after secondary listing in Hong Kong.
- 06/19/2020
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Yum China Files for $2 Billion Hong Kong Listing - BNN Bloomberg
- Yum China Holding Inc. has filed confidentially for a Hong Kong listing that could raise about $2 billion, according to people familiar with the matter, joining other U.S.-traded Chinese companies seeking share sales in the financial hub.
- 06/19/2020
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China Fund Beating 99% of Peers Owns One Hong Kong Stock - BNN Bloomberg
- The only Hong Kong-focused company worth owning is its stock exchange, says a top fund manager who first turned bearish on the city’s economy more than a year ago.
- 06/19/2020
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Elon Musk sells Bel-Air house to Chinese billionaire for $29 million - WSJ
- Elon Musk sells Bel-Air house to Chinese billionaire for $29 million - WSJ
- 06/19/2020
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JD's record 228b yuan haul signals China consumer rebound
- JD.COM INC has bagged a record US$32 billion of sales during the country's biggest online shopping gala of the post-pandemic era, suggesting China's nascent consumer spending recovery has legs. Read more at The Business Times.
- 06/18/2020
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NetEase turns to 'Harry Potter' and 'Lord of the Rings' games in global push after Hong Kong listing
- NetEase is using a dual strategy of partnering with big name brand owners, as well as investing in gaming studios, to drive its international expansion, the company told CNBC.
- 06/18/2020
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JD.com Shares Soar Over 3% on Debut Hong Kong Secondary Listing
- JD.com (HKG: 9618) shares gain success in the secondary listing in Hong Kong. They closed at 234 Hong Kong dollars with a 3.54% rise.
- 06/18/2020
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JD.com Stock Gains on Hong Kong Debut -- Update | MarketScreener
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JD.com Shares Jump on First Day -- WSJ | MarketScreener
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JD.com stock jumps in Hong Kong debut
- Stock in JD.com Inc. rose on its first day of trading in Hong Kong, as the Chinese e-commerce company completed a secondary listing to coincide with its...
- 06/18/2020
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JD.com Stock Jumps in Hong Kong Debut | MarketScreener
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JD.com Stock Jumps in Hong Kong Debut
- JD.com shares rose on their first day of trading in Hong Kong, as the Chinese e-commerce company completed a secondary listing to coincide with its flagship annual sales event.
- 06/18/2020
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JD’s Record $32 Billion Gala Haul Signals China Consumer Rebound
- (Bloomberg) -- JD.com Inc. has bagged a record $32 billion of sales during the country’s biggest online shopping gala of the post-pandemic era, suggesting China’s nascent consumer spending recovery has legs.JD and larger rival Alibaba Group Holding Ltd. this month put Chinese consumption to its first major test since Beijing locked down the country in February. China’s largest retailers are hoping the “6.18” summer extravaganza that wraps up Thursday has unleashed pent-up demand, making up for lost sales during a coronavirus-stricken March quarter. JD said it had racked up 228.5 billion yuan ($32 billion) of transactions as of mid-morning Thursday, surpassing 2019’s total. The retailer’s shares rose 4.5% on their Hong Kong debut, after raising $3.9 billion in a stock sale designed to appeal to Asian investors.Global brands and smaller merchants alike had stocked up on goods for months in anticipation of the annual summer event, a bargain buffet surpassed only by the Nov. 11 Singles’ Day in scale. It comes down to how willing hundreds of millions of shoppers are to spend after the world’s No. 2 economy contracted for the first time in decades. The stakes couldn’t be higher at the conclusion of an 18-day shopping marathon conceived by JD to commemorate its June 18 anniversary.This year’s deals-fest culminates with the biggest bargains Thursday and has so far featured more generous subsidies than ever before, as well as an unprecedented cohort of live-streaming personalities. Competition also intensified with the likes of ByteDance Ltd. and Kuaishou -- whose video app now sells JD goods -- vying for buyers.“Chinese and foreign brands had sluggish sales due to the pandemic, and 6.18 has become their most important opportunity in the first half,” JD Retail Chief Executive Officer Xu Lei said in an interview with Bloomberg Television. For discretionary items like home appliances, “we’ve seen a recovery in consumption.”Read more: Chinese Shoppers Can Go Out Again. Online Buys Show They Won’tChinese retail suffered a record collapse in the first three months of 2020. While it’s on the mend, latest data shows private consumption still sluggish, dashing hopes of a V-shaped recovery as people head back to work.JD has projected revenue growth of 20% to 30% this quarter. Xu -- widely viewed as the front-runner to succeed billionaire founder Richard Liu -- says JD is on track to meet that goal and isn’t threatened by competitors encroaching upon its turf, like in consumer gadgets.“I don’t dance with them, I dance with users,” he said.What Bloomberg Intelligence SaysA strong 2Q sales and profit recovery is likely for Alibaba, JD.com and Pinduoduo, as merchant operations and logistics return to normal. User reliance on these platforms may also have increased during the coronavirus pandemic.\- Vey-Sern Ling and Tiffany Tam, analystsClick here for the research.Based on the first 17 days of June, China’s e-commerce giants are on track for record sums as measured by gross merchandise value, or total value of goods sold. During the first ten hours of its 6.18 campaign, Alibaba’s Tmall business-to-consumer marketplace logged sales 50% higher than during the same period last year, after participating brands doubled. JD has said sales of imports like HP laptops and Dyson hairdryers soared, while it’s selling more fresh produce in smaller cities.Read more: JD’s Outlook Beats After E-Commerce Surges in China LockdownInitiated in 2014 as a riposte to Alibaba’s Singles’ Day, 6.18 has become yet another annual ritual for e-commerce companies and their offline partners from Walmart Inc. to Suning.com Co. Beyond headline figures, it’s less clear how much it contributes to the bottom line given the enormous discounting involved.“My lens for this year is competition, not consumer confidence,” said Michael Norris, researcher with Shanghai-based marketing firm AgencyChina. “After the pandemic, the frequency of flash sales and e-commerce shopping events has increased. This boosts GMV but does little for margin expansion. Each platform’s monetization rate -- how much revenue it generates per unit of GMV -- is the best indication of relative strength and staying power.”Alibaba, along with brands on its platforms, committed cash and other coupons worth a total of 14 billion yuan ($2 billion), according to the company. JD said it offered 10 billion yuan in subsidies.“User growth and retention, and the digitization of brands and merchants are key considerations” when Alibaba pushes subsidies during promotions like 6.18, said Alibaba Vice President Mike Gu, who heads Tmall’s fashion and consumer goods businesses.Read more: Alibaba Drops After Projecting Slowing Growth in Uncertain TimesSales of fast-moving consumer goods on the Tmall and Taobao marketplaces in the June quarter has so far exceeded the pace of 2019’s final quarter, Gu said in an interview. Thanks to 6.18, apparel growth this month has also climbed back to pre-Covid-19 levels, he added.Live-streaming is also playing a bigger role during this year’s 6.18, at a time Covid-19 is fueling an unprecedented boom in online media. Alibaba’s Taobao Live championed the use of influencers to sell everything from lipstick to rockets, prompting rivals like JD and Pinduoduo Inc. to follow suit.Social media companies like TikTok-owner ByteDance and Tencent Holdings Ltd.-backed Kuaishou are jumping on the bandwagon. Their mini-video platforms in China have lured a long list of tech chieftains hawking products of their own to live-streaming fans: The latest was NetEase Inc.’s usually reclusive founder, William Ding. Last week, his debut on Kuaishou amassed 72 million yuan of sales in just four hours.“I’ve never eaten beef jerky as tasty as this in the last twenty years,” the billionaire said during the livestream.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 06/18/2020
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JD.com Shares Rise in Hong Kong Debut Despite Broader Market Weakness | MarketScreener
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Chinese E-Commerce Giant JD.com Climbs 6% in Hong Kong Debut - BNN Bloomberg
- JD.com Inc. soared about 6% in its Thursday debut in Hong Kong, a solid start that underscores strong investor appetite for a growing line-up of Chinese tech giants seeking to list closer to home.
- 06/18/2020
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Chinese E-Commerce Giant JD.com Climbs 6% in Hong Kong Debut
- (Bloomberg) -- JD.com Inc. soared about 6% in its Thursday debut in Hong Kong, a solid start that underscores strong investor appetite for a growing line-up of Chinese tech giants seeking to list closer to home.The Chinese online retailer, which already has stock listed in the U.S., opened at HK$239 after raising $3.9 billion in its Hong Kong share sale. That’s after its shares changed hands in gray markets at a roughly 5% premium to its HK$226 listing price in the days prior.JD debuts as tensions between Washington and Beijing threaten to curtail Chinese companies’ access to U.S. capital markets, particularly after once high-flying Luckin Coffee Inc. crashed amid an accounting scandal. It’s a victory for Hong Kong, coming on the heels of Alibaba Group Holding Ltd.’s $13 billion share sale and the passing of a national security law that critics fear could jeopardize its status as a financial hub. Fellow internet giant NetEase Inc. gained 6% in its own Hong Kong coming-out party last week.“We hope investors from China and Asia can better understand JD’s concept, service and future development,” JD Retail Chief Executive Officer Xu Lei told Bloomberg Television. “Hong Kong is one of the freest economies in the world. We hope to have many mature institutional and individual investors share JD’s growth.”Read more: Alibaba, JD Test Virus Recovery With Online Sales ExtravaganzaJD and its rivals will now put China’s nascent consumer spending recovery to the test when they wrap up the country’s biggest online shopping gala of the post-pandemic era. China’s largest retailers are hoping the “6.18” or June 18 extravaganza that began this month unleashed pent-up demand, making up for lost sales during a coronavirus-stricken March quarter.Global brands and smaller merchants alike stocked up on goods for months in anticipation of the summer event, a bargains buffet surpassed only by the Nov. 11 Singles’ Day in scale. JD and Alibaba are expected to release final results of their haul after midnight.Longer term, the company will use the proceeds of the stock sale to continue building its logistics and delivery network, a key advantage during the pandemic because JD could better control shipping.“The process to build up a supply chain is very time consuming and cost consuming, but we want to make it better,” Xu said. “When we have better supply chain, it would bring in a better user experience.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 06/18/2020
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Hong Kong People Shifted Pension Out of City, China Stocks - BNN Bloomberg
- Hong Kong workers stepped away from local and Chinese equities last month at levels not seen since 2016, as political tensions returned and investors chased big stock gains elsewhere.
- 06/18/2020
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Alibaba, JD test virus recovery with online sales extravaganza
- (June 18): Alibaba Group Holding Ltd. and JD.com Inc. will put China’s nascent consumer spending recovery to its first major test, as the twin e-commerce giants on Thursday wrap up the country’s biggest online shopping gala of the post-pandemic era.
- 06/17/2020
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Alibaba, JD test virus recovery with online sales extravaganza - BNN Bloomberg
- China’s largest retailers are hoping the “6.18” or June 18 extravaganza that began this month unleashed pent-up demand, making up for lost sales during a coronavirus-stricken March quarter.
- 06/17/2020
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3 Important Takeaways From Lexinfintech’s Latest Earnings | The Motley Fool
- There are early signs that Lexinfintech’s worst days may be behind it.
- 06/17/2020
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Oil Pares Decline With Markets Shrugging Off New Virus Wave
- (Bloomberg) -- Oil pared an earlier decline as equities rose, shrugging off some concerns about a second wave of coronavirus cases in China.Futures in New York were 0.7% lower, after falling as much as 3.1%. Stock markets in Europe gained as traders looked at stimulus measures to help boost the economy, including in the U.S. However, any recovery is fraught with risk as a new phase of virus infections emerges in Beijing, forcing the government to close all schools and cancel more than 1,200 flights.“Market players seem to remain unconcerned about a second Covid-19 wave impacting oil demand and probably think that central bank and fiscal stimulus will support economic activity,” said Giovanni Staunovo, commodity analyst at UBS Group AG.Though crude’s path back to normal demand levels is patchy, there are signs that the physical market continues to recover. In Europe, key swaps that help price millions of barrels of the world’s oil are trading in a structure that indicates tight supply, while derivatives that contribute to valuing Russian crude are also firming.Prices are being aided by massive supply cuts by the Organization of Petroleum Exporting Countries and its allies. The group’s compliance with its cutback target was 87% in May, a delegate said. Usual laggards, such as Iraq and Nigeria, are also starting to toe the line.Still, there one metric that’s complicating things for the big producing countries. The American Petroleum Institute reported U.S. crude stockpiles rose by 3.86 million barrels last week, according to people familiar with the data. Inventories grew to a record in the previous week, official figures showed, despite output having fallen by at least 2 million barrels a day since March. Official data for last week is due later on Wednesday.“Day-to-day oil trading has become a tussle between bearish oil data, particularly under-powered demand recoveries and record-high inventories, and top-down macro-led expectations of better things to come,” said Standard Chartered analysts including Emily Ashford.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 06/17/2020
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JD.Com Draws Bids at Premium in Gray Market Trading - BNN Bloomberg
- Institutional investors are bidding for JD.com’s Hong Kong shares before this week’s debut at slightly more than the listing price.
- 06/17/2020
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JD.Com Draws Bids at Premium in Gray Market Trading
- (Bloomberg) -- Institutional investors are bidding for JD.com’s Hong Kong shares before this week’s debut at slightly more than the listing price.Some institutional investors have bid to buy the Chinese e-commerce company’s shares at between HK$226.10 to HK$237 apiece in gray market trading Wednesday, according to people familiar with the matter. That represents a premium of as much as 4.9% compared to the listing price of HK$226. Brokers quoted offers to sell the shares at between HK$239 and HK$245 each, the people said.JD.com, which went public on Nasdaq in 2014, is expected to start trading in Hong Kong on June 18. The stock rose 2.5% in U.S. trading on Tuesday. Traders will be able to short the stock immediately after its debut, as well as hedge with futures and options, according to the Hong Kong exchange operator.JD.com raised $3.9 billion last week selling 133 million new shares in Hong Kong in the second-biggest listing of the year, part of a wave of Chinese companies that are fleeing the U.S. and seeking secondary listings in the city.Last week, internet gaming company NetEase Inc. began trading in the city, with the Hong Kong-listed shares now up 4.1% from the offer price after an initial pop on its first day of trading. Prior to listing, it also drew a small premium on the gray market.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 06/17/2020
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China’s Tumbling Bond Market Needs a Big Liquidity Injection
- (Bloomberg) -- Investors in China’s tumbling sovereign bonds are counting on Beijing to unleash more cash into the financial system.A flood of issuance, liquidity withdrawals and returning risk appetite globally have combined to accelerate the selloff in Chinese government debt, with the yield on 10-year cash bonds hitting its highest level since February Wednesday. Futures on the notes extended the previous session’s decline, which was the most since mid-May.Analysts expect the central bank will offer some kind of reprieve to the bond market, most likely cutting the amount of funds lenders need to set aside in reserve. That could happen as soon as this month, according to a commentary published Wednesday by a state-run newspaper, which also cited the likelihood of a deposit-rate cut in the third quarter.The People’s Bank of China pumped trillions of yuan into the financial system earlier this year, driving borrowing costs to multiyear lows. While those policies encouraged lending, they also resulted in rampant arbitrage where corporates borrowed cheaply to buy high-yielding investment products, diverting money away from the real economy. It partly explains why the central bank is not rolling over some funds, stoking one of the worst sovereign bond routs in the world.Now, the concern is that tighter liquidity in the financial system will lead to higher funding costs and hurt the economic recovery, say Citigroup Inc. analysts.“The sale of the special government bonds is pressuring the already fragile market sentiment, which was hurt by a lack of PBOC easing since May,” said Becky Liu, head of China macro strategy at Standard Chartered Plc, predicting the 10-year yield will rise to just below 3% in coming weeks. “The central bank will bring forward its plan to cut reserve ratio to this or next month, with the aim of offsetting the liquidity blow.”The selloff has been fueled by fears that interbank liquidity could quickly dwindle, as China plans to issue 1 trillion yuan ($141 billion) of special government debt by the end of July to combat the impact of the global pandemic. Monday was the first time that China set a timeline for the sale, and said the notes will be auctioned in the public market. Liu said that raised concerns there will be market-wide liquidity tightness.China’s 10-year debt is the world’s third worst performer since May, following Bulgarian and Pakistani local-currency bonds. The notes have been pressured by tighter liquidity, as local authorities sold the most debt on record in May and banks have sought cash to cope with a massive funding gap this month.In that time, the central bank has been reluctant to open the spigot: it has put 840 billion yuan into the financial system with short- and medium-term loans to lenders in June, compared with a 2.7 trillion yuan liquidity hole created by maturing policy funds and interbank debt.On Wednesday, the PBOC skipped adding cash via its open-market operations, effectively withdrawing 60 billion yuan from the banking system. The yield on China’s 10-year government bonds extended an increase, rising 2 basis points to 2.88% as of 2:31 p.m. in Shanghai.Beijing has faced similar pressure recently. China’s government bonds also tumbled in October, sending the 10-year yield to a five-month high, as the PBOC disappointed traders by avoiding aggressive monetary stimulus. The central bank in early November reduced the interest rate on one-year loans to lenders.It needs to take action soon, as tighter liquidity could start to raise funding costs in the real economy and hurt growth, Citigroup strategists led by Sun Lu wrote in a note. Five-year AA-rated corporate bonds’ yield premium over sovereign notes has jumped by nearly one-third in the past three months, suggesting borrowing costs for cash-hungry smaller companies are climbing.Offering some comfort to investors, total debt issuance this month and next month may not be as significant as May if one considers both sovereign and local government bonds, according to Sun. The central and regional authorities are expected to sell as much as 1.6 trillion yuan of debt in both June and July, compared with a peak of 1.8 trillion yuan in May, she added. August’s figure is seen easing to 1.4 trillion yuan.“Liquidity will remain tight in the coming month,” said Xing Zhaopeng, a markets economist at Australia and New Zealand Banking Group Ltd. in Shanghai. “The PBOC will likely loosen its policy at the end of this month when cash supply is the tightest.”(Updates second paragraph with latest prices for bonds, adds details on Wednesday’s open-market operations and bond yield in 10th paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 06/17/2020
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Carry Trades Are Back in Focus, Especially for Indonesia’s Rupiah
- (Bloomberg) -- Carry trades are back in focus, thanks to the Federal Reserve’s pledge to keep interest rates near zero, and the Indonesian rupiah is emerging as the most attractive currency.The rupiah offers the highest risk-to-reward ratio for the strategy among 32 exchange rates analyzed by Bloomberg. This is followed by the Turkish lira and the Indian rupee, according to calculations which use the dollar’s London interbank offered rate and yields implied in foreign currency forwards.Developing-nation carry trades have bounced back from their biggest-ever quarterly loss as optimism about the global economic recovery bolstered risk appetite. While further gains are far from certain amid concerns of a renewed pandemic, the strategy may continue to find favor as investors seek an alternative to the world of diminishing investment returns.“The return of risk appetite is seeing a rotation from low-yielding into higher-yielding countries,” said Julien Fabre, a London-based local-currency debt fund manager at Candriam. “Indonesia managed to orchestrate a coordinated effort between the Ministry of Finance and the central bank at an early stage of the epidemic, communicating a realistic action plan.”The rupiah has a carry-to-risk ratio of 0.85, according to Bloomberg’s analysis, compared with 0.73 for the lira and 0.56 for the rupee. Only about a half of the currencies analyzed offer higher interest rates than the dollar.The lira’s nominal yields implied in currency forwards stand at 12%, higher than 10% for the rupiah. Still with Turkey’s economy expected to underperform and inflation to remain elevated, the rupiah may have an edge.The carry-to-risk ratio was computed by subtracting the three-month London interbank offered rate for the dollar from yields implied in three-month foreign currency forwards. The rate differential was then divided by implied currency volatility to calculate the ratio. Month-to-date averages were used for all the three variables to smooth out volatilityThe Indonesian currency has rallied more than 15% this quarter, outperforming its Asian peers after lagging in the first three months of the year. Bank Indonesia’s support has been central to the turnaround, with intervention and bond purchases helping to stabilize markets.Bank Indonesia Governor Perry Warjiyo expects the rupiah to appreciate further due to low inflation, high interest-rate premiums and a narrowing current-account deficit.“The authorities have been supportive of the rupiah strength verbally, and positioning remains light,” said Melissa Chan, a quantitative strategist at Standard Chartered Plc in Singapore.The rupiah rallied for a third session on Wednesday after the nation’s bond sale drew strong demand. Bank Indonesia may lower the benchmark rate at a review Thursday, according to economists surveyed by Bloomberg, with the currency’s recent gains probably offering scope for the central bank to ease.Carry trades are back on the radar as currency volatility dropped from a decade high after the Fed flooded the global financial system with dollars to avert a credit crunch.Other than yields, “another pre-requisite for carry trade attractiveness is a lower level of volatility,” said Yanxi Tan, a foreign-exchange strategist at Malayan Banking Bhd. in Singapore. “That aspect could be increasingly tested as investors continue to adjust their expectations on the pace of the macro recovery.”The 32 currencies studied are either among Group-of-10 currencies or are part of the Bloomberg JPMorgan Asian Dollar Index, JPMorgan Emerging-Market Currency Index or Bloomberg carry-trade gauges(Adds Indonesian bond sale in 10th paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 06/17/2020
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China Inc leaving US market at fastest pace since 2015
- Chinese companies are ditching their US listings at the fastest pace since 2015 as they grapple with rising tensions between Beijing and Washington. The latest is China’s biggest online classified firm 58.com Inc, which on Monday agreed to a buyout deal led by private equity firms Warburg Pincus and General Atlantic.
- 06/17/2020
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China Inc. pulls out of U.S. market at fastest pace since 2015 - BNN Bloomberg
- The latest is China’s biggest online classified firm 58.com Inc., which on Monday agreed to a buyout deal led by private equity firms Warburg Pincus and General Atlantic.
- 06/16/2020
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Global Online Microtransaction Market Assessment and Forecast to 2030 - COVID-19 Updated - ResearchAndMarkets.com
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Firms line up to IPO in Hong Kong after Asia’s biggest week for listings
- At least three firms began gauging investor demand for their IPOs on Monday.
- 06/15/2020
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NetEase develops new 'Lord of the Rings' mobile game with Warner Bros
- Chinese gaming giant NetEase on Monday announced a strategic partnership with Warner Bros Interactive Entertainment to develop a new "Lord of the Rings" mobile game, bolstering its pipeline following its secondary listing in Hong Kong. The new officially licensed strategy game, "The Lord of the Rings: Rise to War", is based on the hugely popular trilogy of books by J.R.R. Tolkien, NetEase said in a statement. NetEase, along with rival Tencent and other gaming firms, have seen games revenue soaring during the COVID-19 pandemic, as people spend more time on their handsets and computers in lockdowns aimed at slowing the spread of the disease.
- 06/15/2020
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NetEase and Warner Bros. Interactive Entertainment Collaborate to Develop New Mobile Game, The Lord of the Rings: Rise to War
- NetEase, Inc. (NASDAQ: NTES; HKEX: 9999) and Warner Bros. Interactive Entertainment today announced a strategic partnership for the development of The Lord of the Rings: Rise to War, a new officially licensed mobile strategy game based on the iconic trilogy of books by J.R.R. Tolkien. Set in the Third Age of Middle-earth, this latest title will recreate the fictional world of Arda in a visually stunning and completely faithful rendition, with iconic characters and locations from the original trilogy.
- 06/15/2020
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Companies Line Up to List IPOs in Hong Kong After Asia’s Biggest Week - BNN Bloomberg
- Companies are lining up to list in Hong Kong as a dry spell for initial public offerings comes to an abrupt end with two multi-billion dollar listings.
- 06/15/2020
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Hong Kong Exchange chairman supportive of national security law
- [HONG KONG] Like many in Hong Kong, the chairman of the stock exchange was caught off guard when China revealed last month it would enact new security legislation in the former British colony. And like many of the city's business elite, she's supportive. Read more at The Business Times.
- 06/15/2020
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Hong Kong Exchange Chairman Supportive of National Security Law - BNN Bloomberg
- Like many in Hong Kong, the chairman of the stock exchange was caught off guard when China revealed last month it would enact new security legislation in the former British colony. And like many of the city’s business elite, she’s supportive.
- 06/15/2020
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Sarah Ketterer's Favorite Communication Services Stocks
- One is her second-largest holding as of the 1st quarter Continue reading...
- 06/12/2020
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Hong Kong's TANJ Foursome of Stocks to Rival U.S.'s FANGs
- Hong Kong will have its own tech quartet as of next Thursday; Asian shares don't have the same euphoria as U.S. stocks (yet), and that's a good thing.
- 06/12/2020
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Sarah Ketterer’s Favorite Communication Services Stocks
- Causeway Capital Management, the Los Angeles-based firm founded by Sarah Ketterer (Trades, Portfolio) and Harry Hartford in 2001, seeks to achieve superior risk-adjusted returns by investing in mispriced equities in both developed as well as emerging markets.
- 06/12/2020
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Retail investors heartily join JD.com's 'homecoming' as they oversubscribe to Hong Kong public offer 179 times
- JD.com's public offering in Hong Kong was 179 times oversubscribed as retail investors rushed to join the latest "homecoming" of a Chinese tech giant, according to people familiar with the matter.It is the third high-profile secondary listing by a Chinese new economy company in the past eight months, following a US$12.9 billion listing by e-commerce giant Alibaba Group Holding in November and a US$2.7 billion listing this week by NetEase, the world's second-largest mobile games publisher. Alibaba is the parent company of the South China Morning Post.The institutional tranche was also multiple times oversubscribed across over 400 accounts, said the people, who declined to be named because the matter was not yet public. The top five investors accounted for about 40 per cent of the institutional tranche, the people said.The oversubscription of the Hong Kong retail tranche triggered the highest level of a clawback mechanism that increased the size of the local offering to 12 per cent of the overall global offer.The final pricing came as sentiment soured dramatically on Wall Street on Thursday.The Dow Jones Industrial Average fell 6.9 per cent and the S&P; 500 Index dropped 5.9 per cent as investors reacted negatively to a spike in coronavirus infections in parts of the United States that were among the first to reopen their economies. It was the worst single-day performance by the Dow since March.The benchmark Hang Seng Index in Hong Kong declined 1 per cent in midmorning trading on Friday, mirroring concerns about the surge in virus cases and a potentially longer period of recovery. US Federal Reserve chairman Jerome Powell said on Thursday the central bank would likely keep interest rates at zero through 2022 and the US could face a "long road" to full recovery.On Thursday, Beijing-headquartered JD.com priced its secondary listing in Hong Kong at HK$226 a share (US$29.16) after investors clamoured to participate in the offer. The Hong Kong share sale priced at a tight 3.9 per cent discount to JD.com's Nasdaq-traded shares' close at US$60.70 a share on Wednesday, the people said.Shares of JD.com are due to start trading in Hong Kong on June 18 and will be fully fungible with American depositary receipts (ADR) at a ratio of one ADS to two ordinary shares, according to a deal terms sheet.One of China's largest e-commerce sites, JD.com will raise about US$3.88 billion from the share sale, in what is poised to be the largest fundraising so far this year in the city, according to people familiar with the deal. If an overallotment option is fully exercised, then the size of the share sale could rise to US$4.46 billion.NetEase separately made its debut in Hong Kong on Thursday after raising US$2.7 billion this week. The company's shares surged 6 per cent on their first day of trading, but declined 1.3 per cent to HK$128.30 in midmorning trading on Friday.The "homecoming", as some analysts have dubbed recent moves by Chinese firms listed in the US to pursue secondary offerings closer to home in Hong Kong, comes amid rising US-China tensions.US politicians are dialling-up their demands to fence off Wall Street from Chinese companies as Washington and Beijing trade barbs over everything from the coronavirus pandemic to Hong Kong.The US Senate unanimously approved a bill requiring public audits of ADR listings by Chinese firms and stock analysts believe Sino-US financial links will fray further ahead of the 2020 US presidential election. To widen their funding options, some Chinese ADR companies are pursuing secondary listings in Hong Kong.More than 200 Chinese companies trade on US stock exchanges worth over US$1.2 trillion, Bloomberg data showed, of which 26 would potentially qualify for secondary listings in Hong Kong this year, according to China Renaissance.The overwhelming demand for JD.com's and Netease's shares underscores investors' belief that Big Tech is emerging from the coronavirus pandemic relatively unscathed.JD.com said last month that it had expanded its logistics network to support growth in online consumption as more traditional bricks-and-mortar merchants move online.JD.com's Hong Kong debut coincides with China's annual midyear 618 online shopping festival. This year's event will be the first major shopping event since the end of lockdowns in China after the containment of Covid-19, the disease caused by the coronavirus.Companies around the world have started to return to the capital markets in recent weeks, despite a global recession sparked by the coronavirus pandemic.JD.com's fundraising would be the second-largest globally after Beijing-Shanghai High Speed Railway netted US$4.4 billion during its initial public offering (IPO) back in January, according to data from Refinitiv.JD.com, founded by Richard Liu Qiangdong, launched its share sale on June 5 and was already oversubscribed by Monday. The offer was closed to new orders by Wednesday, the people said. International and Chinese long-only investors piled into the share sale and allocations are being decided on Thursday, the people said.The bookrunners on JD.com's share sale include Bank of America, UBS and CLSA.Richard Liu, founder and CEO of JD.com, celebrates the company's listing on Nasdaq, in May 2014. Photo: AP Photo alt=Richard Liu, founder and CEO of JD.com, celebrates the company's listing on Nasdaq, in May 2014. Photo: AP PhotoThe listings of JD.com and NetEase also add up to a vote of confidence in Hong Kong as a financial hub after months of anti-government protests and the economic fallout from the coronavirus pandemic, as well as concerns over a new national security law for the city proposed by Beijing.To compete with other financial hubs, the Hong Kong stock exchange changed its rules in April 2018 to make it easier for companies with dual classes of shares " a structure favoured by technology companies such as Facebook and Google " to seek IPOs as well as secondary listings in the city. The bourse is considering further rule changes to allow more companies with so-called weighted voting rights to more easily list in the city.The shake-up came after the Hong Kong stock exchange lost out to New York in a bid to host Alibaba's US$25 billion IPO in 2014.China Renaissance estimates that new economy stocks could account for 30 per cent to 35 per cent of Hong Kong's market capitalisation in the next five to 10 years, up from 26 per cent, leading to higher growth potential, raised valuations, and increasing turnover and sector diversity.This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2020 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2020. South China Morning Post Publishers Ltd. All rights reserved.
- 06/12/2020
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Tech Firms Lift Hong Kong Bid For New Listings -- WSJ | MarketScreener
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Tracking Jeremy Grantham's GMO Capital Portfolio - Q1 2020 Update (MUTF:GBMFX)
- Jeremy Grantham’s 13F portfolio value decreased from $14.97B to $11.99B this quarter. GMO Capital increased US Bancorp and Coca-Cola, while dropping Booking Hol
- 06/12/2020
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Singapore Won’t Feast on Hong Kong’s Fund Famine
- (Bloomberg Opinion) -- The two archrivals of Asian finance have competed so intensely for so long that it’s impossible to believe that Hong Kong’s fading autonomy and the resumption of anti-government protests isn’t filling Singapore with even a little bit of schadenfreude. It was a surprise, therefore, to see the Monetary Authority of Singapore rebut news reports that there had been large flows of deposits from Hong Kong. The MAS was responding to data that showed a near-fourfold jump in one corner of the Singapore banking system’s foreign-currency deposits over the past year:The central bank has a valid objection. The above chart only shows foreign-currency deposits in domestic banking units (DBUs). Include deposits in the the Asian currency units (ACUs), a fancy name for a different set of ledgers that the same banks use for their international business, and the fourfold growth turns out to be a 20% increase, to S$781 billion ($564 billion). Not exactly a deluge, though perhaps more than a puddle of rainwater on Singapore’s Orchard Road:There are plenty of reasons why deposits are rising, and not just in Singapore. Central banks everywhere are flooding lenders with liquidity to ease the pain of the coronavirus pandemic. Governments are putting money into people’s accounts, while cautious firms are stuffing theirs by drawing on previously unused working-capital lines.Besides, if deposits are fleeing Hong Kong, then banks in the territory must be feeling the pinch? That doesn’t seem to be the case: It was only in late May that China said that it would impose a national security law in Hong Kong. April data may not be capturing the gloom about Hong Kong’s future. Still, the immediate challenge for the special administrative region is capital inflows, which are forcing the monetary authority to buy billions of U.S. dollars to prevent the Hong Kong dollar from strengthening beyond 7.75, the outer boundary of the 7.75-7.85 range in which it is allowed to trade against the greenback. Money is pouring in because Hong Kong dollar interest rates are higher than U.S. dollar rates, and also because JD.com Inc., China’s No. 2 online retailer, is selling shares in the city in what’s likely to be the world’s second-biggest initial public offering this year.A few mainland companies that no longer feel welcome in U.S. capital markets won’t be Hong Kong’s ticket to perennial preeminence. However, if the territory does bleed deposits, will Singapore want them? The two-ledger system, the reason for confusion about capital inflows, has its roots in the rivalry. In 1968, when founding prime minister Lee Kuan Yew decided to turn his tin- and rubber-exporting port into an international financial center, he had no real advantage over Hong Kong, then a British colony. But the devaluation of the pound in 1967 created demand for dollars in Asia, and Singapore grabbed the chance with the help of Dick van Oenen, a Dutch currency trader at Bank of America. Hong Kong, reluctant to admit new banks, took almost a decade to catch up. It was hesitant initially to host an offshore finance hub because those, like casinos, are best left to places that don’t have much other activity to protect. Singapore insulated its domestic economy from instability thanks to the different domestic and international ledger units, which demarcated banks’ high-stakes global commerce from their more humdrum local franchise. For five years now, authorities have been planning to end the divide, and in January parliament approved the merger of the two accounts. Since regulatory scrutiny of financial intermediaries has gone up in all the major economies from which Singapore hosts its foreign banks, there’s little point in continuing with a dual-track system. Even so, this chart should give the authorities pause:From roughly similar levels in 1991, deposits in Singapore — across both the ledgers, and including all currencies — have risen to $1 trillion, while Hong Kong’s have exploded to $1.8 trillion because of its outsize role in securing capital for Chinese firms. Singapore may have the competence and confidence to ensure that banks can backstop their IOUs, with or without help from their home countries. But will the regulators be comfortable if the state investment firm Temasek Holdings Pte. — the largest shareholder of both London-based Standard Chartered Plc and homegrown DBS Group Holdings Ltd.— sees value in combining the two banks, an idea that’s been doing the rounds for the better part of two decades, though never seriously entertained? Such a merger would give Singapore an institution at least half as big by deposit size as HSBC Holdings Plc, the gorilla of Hong Kong banking:But size isn’t everything. Deposits come from loans, and too much credit causes “financialization.” It’s a term economists use to describe situations in which a society sacrifices other priorities — such as manufacturing competitiveness, affordable housing and less leveraged firms — for a mirage of affluence.Singapore’s planners know that unlike London, New York or Hong Kong, which sits at the mouth of China’s planned Greater Bay Area, their island nation doesn’t have a hinterland to accommodate the losers of financialization.Orbigood, a Singaporean exclamation for others getting their comeuppance, is best kept for its rival’s cramped housing and noxious air. Singapore wouldn’t really want deposits to rush in from Hong Kong. It might do more harm than good. This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Andy Mukherjee is a Bloomberg Opinion columnist covering industrial companies and financial services. He previously was a columnist for Reuters Breakingviews. He has also worked for the Straits Times, ET NOW and Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 06/11/2020
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Gravity's New Games Could Be A Catalyst For The Stock Price (NASDAQ:GRVY)
- Gravity develops online and mobile games. I would recommend following the share price dynamics in June, July, and the second half of 2020. Around this time peri
- 06/11/2020
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Has NetEase (NTES) Outpaced Other Computer and Technology Stocks This Year?
- Is (NTES) Outperforming Other Computer and Technology Stocks This Year?
- 06/11/2020
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NetEase Shares Rise 6% at Hong Kong Secondary Listing
- NetEase shares have had a good day in Hong Kong already as the company has successfully listed on the Hong Kong stock exchange.
- 06/11/2020
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Stock Futures Spiral Amid Renewed Pandemic Fears - Schaeffer's Investment Research
- The stock market is down on renewed coronavirus fears, weekly jobless claims, and the Fed's less-than-optimistic update on the 2020 US economy
- 06/11/2020
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Hong Kong IPOs sizzle despite chaos surrounding the territory’s future
- While Hong Kong’s future may be plagued by mainland China’s seemingly increasing disregard for the territory’s independence and the resumption of pro-democracy protests, signs point to it remaining an IPO hotspot for Chinese businesses and for those eyeing a second listing away from the U.S. E-commerce titan Alibaba Group (BABA) which in 2014 made the then-biggest-ever IPO splash in New York, established a similarly colossal secondary listing last year in Hong Kong (HK:9988) raising more than $11 billion.
- 06/11/2020
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Hong Kong's Bid for Chinese Tech Listings Gets $6.6 Billion Endorsement | MarketScreener
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Hong Kong’s Bid for Chinese Tech Listings Gets $6.6 Billion Endorsement
- Hong Kong’s status as a venue for major Chinese technology companies got a boost, as shares in mobile-games group NetEase jumped on their debut in the city, while e-commerce company JD.com fixed a price for its own $3.9 billion offering.
- 06/11/2020
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News Highlights: Top Company News of the Day
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Chinese Internet Giant NetEase's Shares Surge In Hong Kong On Debut
- NetEase Inc. (NASDAQ: NTES) shares soared by over 8% on the first day of trading in Hong Kong, amid rising tensions between the United States and China.What Happened NetEase, an internet company from China engaged in gaming, education, and music streaming, has also been listed on the Nasdaq since 2000. On their debut in Hong Kong, NetEase shares, priced at 123 Hong Kong dollars or $15.87 each, soared to 133 Hong Kong dollars or $17.16, soon after the markets opened. NetEase's listing occurs at a time of rising tensions between the U.S. and China, and some companies returning to Hong Kong. bcAlibaba Group Holding Ltd (NYSE: BABA) held a huge secondary listing in Hong Kong late last year, raising $12.9 billion, while JD.com Inc. (NASDAQ: JD) is planning one for late 2020.NetEase told CNBC that it would use the money raised for "globalization strategies and opportunities" as well as for general corporate purposes.Why It Matters NetEase has raised a total of $2.72 billion by offering 171,480,000 new ordinary shares in the Hong Kong market, reported CNBC.The firm is looking to bolster its education and music streaming products and is following its rival Tencent Holdings Ltd (OTC: TCEHY) in a bid to expand its global footprint by investing in gaming companies.NetEase said that 25 ordinary shares are worth one Nasdaq-listed American depositary share, meaning each 123 Hong Kong dollar offer price is equal to $397 per ADS.As tensions between the U.S. and China, some Chinese companies are delaying their U.S. listings.NetEase Price Action On Thursday, NetEase shares traded 7.14% higher at $131.40 at press time in Hong Kong. The company's shares traded 3.77% higher at $424.98 on Wednesday and declined 0.47% to $423 in the after-hours trading.Image: Wikimedia See more from Benzinga * European Food Delivery Company To Buy Grubhub After Uber Talks Fall Through * Uber CEO And Rockefeller Foundation Advocate Stronger Worker Safety Nets * Chinese Companies Delay US Listings Due To Escalating Tensions(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
- 06/11/2020
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Chinese tech group NetEase soars on $2.7bn Hong Kong debut
- Shares in technology group NetEase surged on their Hong Kong debut following a $2.7bn secondary offering, as tensions between Washington and Beijing prompt more Chinese companies to raise cash in the city. In early trading on Thursday the company’s stock jumped by as much as 10 per cent as China’s biggest maker of online video games found strong investor demand. Hong Kong’s stock exchange is expected to benefit due to a flare-up in US-China frictions.
- 06/11/2020
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News Highlights: Top Company News of the Day
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NetEase Rally Bodes Well for Speculators in Chinese Mega Deals
- (Bloomberg) -- One of Hong Kong’s most popular investment strategies -- borrow big and plow the money into a red-hot share sale -- is starting to work, just as the city prepares to host a flurry of Chinese listings.NetEase Inc. jumped as much as 9.9% in Hong Kong Thursday, on track to deliver the city’s best trading debut in more than a year for companies with a fund raising size of more than $1 billion. The retail portion of its share sale was more than 130 times oversubscribed, as mom-and-pop traders clamoured to get a piece of the Chinese gaming company. JD.com Inc.’s planned $3.9 billion share sale, which would be the world’s second-largest of the year, is also oversubscribed. China Bohai Bank Co. is planning to launch its own $2 billion offering.Such listings are reviving interest in Hong Kong’s market, boosting inflows and helping strengthen the local dollar at a time when the passing of a national security law has raised concerns about the city’s status as a financial hub. Tensions between Washington and Beijing have threatened to curtail Chinese companies’ access to U.S. capital markets, making such secondary listings closer to home more appealing.“Introducing another technology giant to Hong Kong is definitely good for market sentiment,” said Banny Lam, managing director at CEB International Corp. “It will help Hong Kong to attract more longer-term investors and demand for future listings like JD.com will be boosted since the investment now looks very profitable.”Trading as high as HK$135.2 ($17.4) per share in Hong Kong at their highest intraday level, NetEase shares were valued at about a 3% premium to those listed on the Nasdaq -- which are near a record high. One U.S. share is equivalent to 25 Hong Kong stocks. Alibaba Group Holding Ltd. rose 6.6% on its Hong Kong debut.The prospect of NetEase potentially joining the benchmark Hang Seng Index is also helping buoy investors’ confidence, Lam said. The company’s market cap exceeds that of 39 firms on the 50-member gauge, including the likes of CNOOC Ltd. and Sun Hung Kai Properties Ltd., according to data compiled by Bloomberg.The technology sector saw strong gains on Thursday. Shopping platform Meituan Dianping added 4.1% to hit a record high, while Tencent Holdings Ltd. rose to its highest since March 2018.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 06/11/2020
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News Highlights: Top Company News of the Day
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Chinese Internet Giant NetEase's Shares Surge In Hong Kong On Debut
- NetEase Inc. (NASDAQ: NTES) shares soared by over 8% on the first day of trading in Hong Kong, amid rising tensions between the United States and China.
- 06/11/2020
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News Highlights: Top Company News of the Day
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What you need to know about NetEase, the Chinese tech giant that raised $2.7 billion in Hong Kong
- NetEase is a Chinese internet giant — but its name might not be so well known outside its home market.
- 06/11/2020
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China’s Gaming Giant NetEase Jumps Over 9% in Hong Kong Debut
- (Bloomberg) -- NetEase Inc. soared more than 9% at the start of its first day of trading in Hong Kong, a solid debut that bodes well for a growing line-up of Chinese tech giants seeking to list closer to home.Shares in China’s biggest gaming company after Tencent Holdings Ltd. opened at HK$133. That’s after NetEase’s shares changed hands at a roughly 2% to 3% premium to its HK$123 listing price in the days prior.NetEase makes its debut in Hong Kong as tensions between Washington and Beijing threaten to curtail Chinese companies’ access to U.S. capital markets, particularly after once high-flying Luckin Coffee Inc. crashed amid an accounting scandal. It’s a victory for Hong Kong, coming on the heels of Alibaba Group Holding Ltd.’s $13 billion share sale and the passing of a national security law that critics fear could jeopardize its status as a financial hub.No. 2 Chinese online retailer JD.com Inc. is expected to debut June 18. The twin internet giants are expected to usher in a wave of other Chinese firms who seek capital to bounce back from the coronavirus pandemic and fuel longer-term expansion.NetEase -- a distant second to Tencent in the world’s largest video game market -- is looking globally for the next chapter of growth, teaming up with Japan’s Studio Ghibli and investing in Canadian game creator Behaviour Interactive. After selling its cross-border e-commerce platform Kaola to Alibaba, the 22-year-old company has shifted its focus to music streaming and online learning, despite worsening competition in these areas.The creator of popular franchises like Fantasy Westward Journey and Onmyoji reported a 14% rise in online games revenue for the coronavirus-stricken March quarter, less than half of the pace Tencent’s gaming division managed during the same period.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 06/11/2020
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NetEase shares pop 8% in Hong Kong debut
- NetEase shares popped as much as 9.7% in their Hong Kong debut Thursday morning — a promising showing for a US-listed Chinese company seeking friendlier market territory in Asia.
- 06/11/2020
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Chinese Internet Giant NetEase's Shares Surge In Hong Kong On Debut
- NetEase Inc. (NASDAQ: NTES) shares soared by over 8% on the first day of trading in Hong Kong, amid rising tensions between the United States and China.
What Happened
NetEase, an...
- 06/11/2020
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Investors Give NetEase’s Hong Kong Debut a Soaring Thumbs Up
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US Indexes Mostly Lower Again Wednesday
- Nasdaq reports another new high Continue reading...
- 06/10/2020
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Bankers Loving the Boom Are Missing the Profits
- (Bloomberg Opinion) -- Bankers hoping for a bonanza from Hong Kong share sales by U.S.-listed Chinese companies should contain their excitement. Low fees and the hangover of the Luckin Coffee Inc. scandal are likely to put a damper on the rewards.Hong Kong’s market for stock offerings is booming. Online retailer JD.com Inc. is raising as much as $4.1 billion in the world’s second-biggest share sale this year, days after internet gaming company NetEase Inc.’s $2.7 billion listing. There’s a line of candidates for Hong Kong flotations, driven by the prospect that the U.S. will delist companies that can’t commit to proving they are free from foreign government control.That’s a boon for the city and its stock-exchange operator, after China’s plans to impose a national security law raised questions over Hong Kong’s future as an international financial center. The NetEase and JD.com offerings were both heavily oversubscribed by retail and institutional investors, showing the strength of demand for U.S.-traded Chinese tech companies. These and upcoming deals may not deliver the windfall to investment bankers that such a pipeline would usually promise, though.For one thing, secondary listings earn a lot less in fees than initial public offerings. NetEase is paying the banks that worked on its Hong Kong flotation just 0.25% of the proceeds, compared with a standard rate for IPOs of 2% to 3%, as my colleague Julia Fioretti notes. Such deals earn less because the companies are already listed, meaning less work is required from banks to introduce their businesses to investors.Secondly, not all companies eligible to sell shares in Hong Kong can be expected do so. There are 42 Chinese companies in the U.S. that qualify for Hong Kong secondary listings, according to analysts at UBS Group AG. Should they issue 5% of their stock over the next 12 months, that would mean $27 billion in funds raised. The actual amount may come in far short of that. Blame the fall of Luckin, the Starbucks competitor that faces delisting from Nasdaq after acknowledging that it fabricated sales. The episode has damaged the reputation of Chinese companies overseas and is having a cautionary impact on investors, banks and potential listing candidates.Unlike Hong Kong, the U.S. market has a disclosure-based system that makes listing — and delisting — easier. Investors subject to corporate fraud can seek redress through class-action lawsuits (Luckin and its IPO arranger, Credit Suisse Group AG, have both been sued). Lacking such legal safeguards, Hong Kong has a gatekeeper for its market, with regulators vetting listing candidates. Companies and their sponsoring banks need to factor in this added scrutiny.As for investors, they may feel they’ve already had the pick of the U.S.-listed Chinese contingent. Alibaba Group Holding Ltd., the first to sell shares in November, JD.com and NetEase are three of the four biggest by market capitalization (the other is Pinduoduo Inc.). They are all well known and with track records as listed companies stretching back years. As the list goes down to encompass smaller and lesser-known enterprises, investor enthusiasm may wane.Not all businesses can match the excitement of the tech trio. Will investors flock to Yum China Holdings Inc., operator of KFC outlets in the country, for example? American investors have taken to Yum, which has the highest percentage of U.S. institutional ownership among the group. This investor base may be unwilling to switch to Hong Kong shares, a factor that may affect demand and post-listing liquidity.Then there’s online travel agency Trip.com Group Ltd., also on the roster of upcoming secondary listings. It has the technology sheen, but will investors be able to overlook the hammering that the world’s tourism companies have taken from the coronavirus pandemic?The reality is that while secondary listings are good business, “there are bigger opportunities in other products for investment banks in the region,” according to Amrit Shahani, London-based research director at analytics company Coalition Development Ltd. First-quarter IPO fees for the top 12 investment banks that Coalition follows in the region, from Goldman Sachs Group Inc. to Citigroup Inc., were around $150 million, Shahani said; they made a combined $1.5 billion from foreign-exchange trading during the period.So things are looking up after all. Just not in the place you might expect. This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Nisha Gopalan is a Bloomberg Opinion columnist covering deals and banking. She previously worked for the Wall Street Journal and Dow Jones as an editor and a reporter.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 06/10/2020
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NetEase shares jump over 8% at the open on their first day of trading in Hong Kong
- NetEase carried out a secondary listing on the Hong Kong stock exchange amid rising tensions between the U.S. and China.
- 06/10/2020
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NetEase gets a lot of love from investors, as shares are oversold by 360 times in Hong Kong secondary listing
- Hong Kong's retail investors seem to love NetEase. Shares of the world's second-largest publisher of mobile games were oversold by a massive 360.5 times ahead of the Guangzhou-based company's HK$20.9 billion (US$2.7 billion) secondary listing in Hong Kong on June 11.That makes NetEase one of the most successful fundraising exercises in Hong Kong since at least 2017, compared with the 40 times oversubscription in last year's US$13 billion offering by Alibaba Group Holding " owner of South China Morning Post " and topping Xiaomi's 9.5 times take-up rate when the smartphone maker listed in 2018.NetEase, founded in 1997, was listed on the Nasdaq in 2000. It's the second major US-listed technology company after Alibaba to raise funds in Hong Kong as US politicians increasingly demand to fence off Wall Street amid rising US-China tensions. Tapping Hong Kong's capital also helps the city catch up with New York in the global stakes for initial public offerings (IPOs), providing a boost of confidence to the world's fourth-largest stock market, as signs of a quick global recovery from the damage of the coronavirus pandemic stoke demand for risk assets from equities to commodities."Listings of more Chinese tech companies in Hong Kong will help attract more capitals and boost valuations there," said Chen Hao, a strategist at KGI Securities in Shanghai. "That'll also cement Hong Kong's status as a financial centre in the world."SCMP Graphics alt=SCMP GraphicsThere are more than 200 Chinese companies listed on US stock exchanges, with US$1.2 trillion in estimated capitalisation, according to Bloomberg data. A list of 38 issuers of American Depositary Receipts (ADRs) may qualify for secondary listings in Hong Kong, according to China Renaissance.Of these, two dozen companies valued at a combined US$300 billion that listed overseas before December 15, 2017, would be able to seek secondary listings without having to change their shareholding structure if that offering was later converted to a primary listing.NetEase is the fourth-largest among them, capitalising at US$52.7 billion, after Alibaba, JD.com and Pinduoduo. The stock will start trading in Hong Kong with the offer price of HK$123, while its American depository receipts have advanced 34 per cent on the Nasdaq this year.NetEase will increase the allocation to retail investors to 20.58 million shares from 5.15 million previously, due to overwhelming demand, it said in an exchange statement. The retail proportion accounts for about 12 per cent of its flotation, it said.NetEase will use the proceeds from its Hong Kong fundraising for globalisation strategist, continued innovation and general corporate purposes.JD.com, China's second-largest e-commerce platform, is expected to make its debut in Hong Kong on June 18. The biggest rival of Alibaba is expected to raise as much as HK$31.4 billion selling 133 million new shares.Hong Kong's Hang Seng Index gained for seven consecutive days through Tuesday for the longest rising streak in 14 months.This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2020 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2020. South China Morning Post Publishers Ltd. All rights reserved.
- 06/10/2020
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US Bancorp DE Has $1.11 Million Stock Holdings in NetEase Inc (NASDAQ:NTES)
- US Bancorp DE decreased its position in shares of NetEase Inc (NASDAQ:NTES) by 19.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,450 shares of the technology company’s stock after selling 808 shares during the period. US Bancorp DE’s holdings in NetEase were […]
- 06/10/2020
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NetEase to Raise $2.7 Billion in Hong Kong Listing
- There seems to be no shortage of demand for new shares of NetEase.
- 06/09/2020
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These 3 U.S.-Listed Chinese Stocks Are Filing Hong Kong IPOs
- Alibaba and two other Chinese tech giants have filed new IPOs in Hong Kong to hedge against an escalation of the trade war.
- 06/09/2020
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NetEase prices its $2.7 billion listing in Hong Kong with shares to start trading on June 11
- NetEase has priced its upcoming secondary listing in Hong Kong at $123 Hong Kong dollars per share.
- 06/07/2020
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NetEase Announces Pricing of Global Offering
- HANGZHOU, China, June 7, 2020 /PRNewswire/ -- NetEase, Inc. (NASDAQ: NTES) ("NetEase" or "the Company") today announced the pricing of the Global Offering of 171,480,000 new ordinary shares (the "Offer Shares" or "Shares") which comprises an International Offering and a Hong Kong Public...
- 06/07/2020
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Mobile Gaming: Innovation In Action
- Mobile gaming represents both the largest platform by revenues and the fastest growing one.
- 06/07/2020
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Nasdaq Today: Why NetEase and Align Technology Led Stocks Higher
- Modest gains for the market made these two stocks stand out.
- 06/02/2020
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China’s NetEase Kicks Off $3.2 Billion Hong Kong Offering
- NetEase has officially launched a long-rumored second offering in Hong Kong, seeking to raise up to 24.5 billion Hong Kong dollars ($3.2 billion) as it prepares to expand globally.
- 06/02/2020
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NetEase Launches Hong Kong Initial Public Offering
- HANGZHOU, China, June 1, 2020 /PRNewswire/ -- NetEase, Inc. (NASDAQ: NTES) ("NetEase" or "the Company") today announced the launch of its Hong Kong Public Offering, which forms part of the Global Offering (the "Offering") of 171,480,000 new ordinary shares (the "Offer Shares" or "Shares")...
- 06/01/2020
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NetEase Officially Applies for Secondary Listing in Hong Kong
- NetEase didn't disclose how much it's seeking to raise and the timing for the listing.
- 05/29/2020
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Chinese tech giant NetEase files for secondary listing in Hong Kong, amid greater scrutiny over Chinese firms
- NetEase, a U.S.-listed Chinese online gaming company, confirmed on Friday it will seek a secondary listing in Hong Kong.
- 05/29/2020
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NetEase, JD.com's Hong Kong Listings Happening in June
- Combined NetEase and JD.com could raise as much as $5 billion via the secondary offerings.
- 05/22/2020
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Nasdaq Today: Baidu, NetEase Stocks Fall on Delisting Fears
- These two stocks led the index lower.
- 05/22/2020
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NetEase and JD.com set dates for $5 billion Hong Kong listings
- Chinese technology company NetEase plans to carry out a secondary listing on the Hong Kong Stock Exchange on June 11, which will be followed one week later by web retailer JD.com , four sources with direct knowledge of the matter said.
- 05/22/2020
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NetEase Unveils Games Pipeline at Sixth Annual Product Launch Event
- HANGZHOU, China, May 20, 2020 /PRNewswire/ -- NetEase, Inc. (NASDAQ: NTES) ("NetEase" or the "Company"), one of China's leading internet and online game services providers, celebrated its diversified portfolio of existing and upcoming PC and mobile games at its Sixth Annual Product Launch...
- 05/20/2020
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NetEase Is The 100-Bagger You Never Owned
- The Chinese gaming and online services giant hit an all-time high on Tuesday, just before putting out another blowout quarterly report.
- 05/20/2020
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NetEase (NTES) Q1 Earnings Top Estimates, Revenues Rise Y/Y
- NetEase (NTES) first-quarter 2020 results reflect steady performance of online game services as users remained confined due to the pandemic and Youdou business.
- 05/20/2020
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NetEase, Inc. (NTES) CEO William Ding on Q1 2020 Results - Earnings Call Transcript
- NetEase, Inc. (NTES) CEO William Ding on Q1 2020 Results - Earnings Call Transcript
- 05/20/2020
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Chinese Game Publisher NetEase Easily Beats First-Quarter Targets
- Chinese video game publisher NetEase late Tuesday easily beat Wall Street's targets for the first quarter. The NetEase earnings report drove NTES stock higher in extended trading.
- 05/19/2020
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NetEase Reports First Quarter 2020 Unaudited Financial Results
- BEIJING, May 19, 2020 /PRNewswire/ -- NetEase, Inc. (NASDAQ: NTES) ("NetEase" or the "Company"), one of China's leading internet and online game services providers, today announced its unaudited financial results for the first quarter ended March 31, 2020. First Quarter 2020 Financial...
- 05/19/2020
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Online Education Is A Robust Catalyst For NetEase
- Online Education Is A Robust Catalyst For NetEase
- 05/18/2020
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NetEase (NTES) to Report Q1 Earnings: What's in the Cards?
- NetEase's (NTES) first-quarter 2020 results are likely to reflect strength in online gaming portfolio amid coronavirus led-lockdown despite stiff competition.
- 05/15/2020
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2 Gaming Stocks That Are Outperforming the Broader Market
- The business models of Tencent and NetEase are well-insulated from the adverse effects of the coronavirus.
- 05/05/2020
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Unjustified Revulsion Towards Investing In Chinese Companies
- A leaked WHO report indicating the failure of Gilead's remdesivir in its first randomized clinical trial refueled negative sentiment already hurt by plunging crude oil prices.
- 04/27/2020
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Netease: A Great Business At A Reasonable Price
- Netease: A Great Business At A Reasonable Price
- 04/24/2020
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NTES vs. RNG: Which Stock Is the Better Value Option?
- NTES vs. RNG: Which Stock Is the Better Value Option?
- 04/14/2020
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5 Great Dividend Growth Stocks for Your Portfolio
- The stocks that have a strong history of dividend growth as opposed to those that offer high yields form a healthy portfolio with more scope for capital appreciation.
- 04/14/2020
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Is NetEase (NTES) Outperforming Other Computer and Technology Stocks This Year?
- Is (NTES) Outperforming Other Computer and Technology Stocks This Year?
- 04/01/2020
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NetEase (NTES) Gains But Lags Market: What You Should Know
- In the latest trading session, NetEase (NTES) closed at $306.91, marking a +1.85% move from the previous day.
- 03/30/2020
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COVID-19 Pandemic Is A Tailwind For NetEase
- COVID-19 Pandemic Is A Tailwind For NetEase
- 03/30/2020
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Is NetEase (NTES) a Profitable Pick for Value Investors Now?
- Let's see if NetEase (NTES) stock is a good choice for value-oriented investors right now from multiple angles.
- 03/27/2020
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2 Solid Reasons to Bet on Video Gaming Stocks & ETFs Now
- Coronavirus lockdown and the impending launches of Sony???s PlayStation 5 as well as Microsoft?
- 03/27/2020
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Buy 5 China Stocks to Tap the Country's Recovery From Coronavirus
- While the contagion will hurt China's first-quarter GDP growth in all probability, government stimulus measures will most likely aid the coronavirus-hit economy recover in the subsequent quarters.
- 03/25/2020
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5 Undervalued Stocks Trading Below Their Peter Lynch Value
- According to the GuruFocus All-in-One Screener, a Premium feature, several gurus are focusing on stocks whose Peter Lynch fair values are above their current prices.
- 03/20/2020
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NTES vs. RNG: Which Stock Should Value Investors Buy Now?
- NTES vs. RNG: Which Stock Is the Better Value Option?
- 03/20/2020
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Is NetEase (NTES) Stock Outpacing Its Computer and Technology Peers This Year?
- Is (NTES) Outperforming Other Computer and Technology Stocks This Year?
- 03/16/2020
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NetEase Cloud Music Expands Library With Studio Ghibli Deal
- NetEase's (NTES) signs agreement with Studio Ghibli to expand its portfolio of high-quality Japanese music.
- 03/13/2020
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Coronavirus Cases Wane in China: 5 China Stocks to Snap Up
- With China in recovery mode from the lethal contagion, the time may be ripe to pick some China stocks with strong fundamentals.
- 03/13/2020
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NTES or RNG: Which Is the Better Value Stock Right Now?
- NTES vs. RNG: Which Stock Is the Better Value Option?
- 03/04/2020
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Coronavirus Lockdown Set to Spur Online Gaming Business
- Although the coronavirus outbreak has caused panic across global markets, not every business is poised to be negatively impacted, online gaming business being one of them.
- 03/04/2020
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NetEase’s Post-Earnings Sell-Off Is a Buying Opportunity
- This tech stock is well-insulated from the coronavirus crisis.
- 03/03/2020
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NetEase, Inc. (NTES) CEO William Ding on Q4 2019 Results - Earnings Call Transcript
- NetEase, Inc. (NTES) CEO William Ding on Q4 2019 Results - Earnings Call Transcript
- 02/27/2020
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Chinese Video Game Publisher NetEase Beats Fourth-Quarter Estimates
- Chinese online games and internet company NetEase late Wednesday handily beat Wall Street's targets for the fourth quarter. The NetEase earnings news pushed NTES stock higher after hours.
- 02/26/2020
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3 Dividend-Paying Tech Stocks to Buy Now to Combat Renewed Coronavirus Fears
- Check out these three high-yield tech stocks that dividend investors might want to buy now amid renewed coronavirus fears.
- 02/21/2020
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What's in Store for NetEase (NTES) This Earnings Season?
- NetEase's (NTES) fourth-quarter 2019 results are likely to reflect the positive impact of an expanding online gaming portfolio.
- 02/18/2020
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3 Reasons NetEase Is Hitting New Highs Ahead of Quarterly Results
- The Chinese gaming and online services giant is trading at its highest level in more than two years, and that's with a big earnings report on the way.
- 02/16/2020
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Why We Remain Long On NetEase
- Greater video games spending can be a byproduct of the fear generated by the new coronavirus outbreak in China.
- 02/11/2020
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NetEase (NTES) Stock Sinks As Market Gains: What You Should Know
- NetEase (NTES) closed the most recent trading day at $350.97, moving -0.43% from the previous trading session.
- 02/11/2020
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3 Top-Ranked Dividend Stocks: A Smarter Way to Boost Your Retirement Income - January 31, 2020
- The traditional approaches to retirement planning are longer covering all expenses in nest egg years. So what can retirees do?
- 01/31/2020
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3 Top-Ranked Dividend Stocks: A Smarter Way to Boost Your Retirement Income - January 24, 2020
- The traditional ways to plan for your retirement may mean income can no longer cover expenses post-employment. But what if there was another option that could provide a steady, reliable source of income in your nest egg years?
- 01/24/2020
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3 High-Yield Tech Stocks for Dividend Investors to Buy Right Now
- Check out these three high-yield tech stocks we found using our Zacks Stock Screener that dividend investors might want to buy right now.
- 01/22/2020
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3 Big Stock Charts for Tuesday: NetEase, Pinduoduo, and China Mobile
- Chinese stocks rallied into and out of positive news on the trade front. These big stock charts feature 3 names trying to keep momentum.
- 01/21/2020
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Play "New Super Cycle" for Video Games With 3 ETFs & Stocks
- Get set for a new super cycle in the video game industry with these stocks and ETFs.
- 01/10/2020
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6 Guru Stocks Beating the Market
- According to the GuruFocus All-in-One Screener, a Premium feature, the following guru-owned stocks have outperformed the S&P 500 Index over the past 12 months as of Jan.
- 01/08/2020
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China’s New Stimulus Brings a Happy Day for Chinese Stocks
- The U.S. and China are increasingly interdependent, which may be why the White House expects an early trade war resolution to be signed soon.
- 01/06/2020
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Here're the Top Stock Trades for 2020
- Investors shouldn't steer clear of stocks this year. In fact, one should look for potential avenues to invest as the economy gathers momentum.
- 01/03/2020
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Why Weibo, Netease, and Sohu Stocks All Popped 10% Today
- A trade-war truce would be good for all sorts of Chinese stocks.
- 01/02/2020
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2 Gaming Stocks to Buy in January
- If you're looking to invest in the video game industry, NetEase and Take-Two are top prospects for your portfolio.
- 01/02/2020
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5 Chinese Stocks to Keep Rallying, Trade War Wraps Up or Not
- Trade war, induced by the imposition of tariffs on imports by the United States, has hurt growth prospects of China. Despite that, some stocks performed well and have healthy prospects ahead.
- 12/31/2019
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6 Promising China Stocks to Buy for 2020
- Here, we have highlighted six Chinese stocks that hold promise for investors in 2020.
- 12/19/2019
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How to Maximize Your Retirement Portfolio with These Top-Ranked Dividend Stocks - December 19, 2019
- The traditional ways to plan for your retirement may mean income can no longer cover expenses post-employment. But what if there was another option that could provide a steady, reliable source of income in your nest egg years?
- 12/19/2019
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3 Chinese Tech Stocks That Actually Pay Dividends
- These three stocks generate steady income with sustainable payout ratios.
- 12/18/2019
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3 Trade-War-Proof Chinese Stocks
- Domestic companies that attract Gen Z users with games, comics, or live video streams will withstand the macro headwinds better than “old guard” tech companies.
- 12/16/2019
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Top Ranked Momentum Stocks to Buy for December 12th
- Top Ranked Momentum Stocks to Buy for December 12th
- 12/12/2019
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Forget Google Stadia, This is the Cloud Gaming Battle to Watch
- Investors who were disappointed with Stadia’s lackluster launch should follow the brewing battle between Tencent and NetEase in China.
- 12/11/2019
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Why NetEase Stock Surged 10% in November
- It was a busy quarter for the online games publisher, highlighted by strong performance from new game releases.
- 12/05/2019
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4 Reasons NetEase Outperformed Tencent in 2019
- Investors in Chinese tech clearly favored NetEase’s narrower focus, lower valuation, and higher yield.
- 12/03/2019
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3 'Surprising Stocks Hitting New Highs Last Week'
- A casual dining chain, Chinese gaming giant, and auto parts auctioneer keep reaching fresh highs.
- 12/01/2019
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5 Screaming Hot Strong Buy Stocks
- 5 Screaming Hot Strong Buy Stocks
- 11/29/2019
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Here's Why Momentum Investors Will Love NetEase (NTES)
- Does NetEase (NTES) have what it takes to be a top stock pick for momentum investors? Let's find out.
- 11/28/2019
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'Surgeon Simulator' game creator raises up to $30 million in fundraising led by China's NetEase
- A key purpose of the recent fundraising effort will be to fuel an expansion into China, sources say.
- 11/26/2019
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NetEase's Bright 2020; Pinduoduo Is No Luckin Coffee
- NetEase's Bright 2020; Pinduoduo Is No Luckin Coffee
- 11/25/2019
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NetEase: Steady Domestically, Strong Overseas
- NetEase: Steady Domestically, Strong Overseas
- 11/21/2019
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NetEase, Inc. (NTES) CEO William Ding on Q3 2019 Results - Earnings Call Transcript
- NetEase, Inc. (NTES) CEO William Ding on Q3 2019 Results - Earnings Call Transcript
- 11/21/2019
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NetEase Earnings: NTES Stock Drops 8% on Q3 Revenue Miss
- NetEase (NTES) earnings for the Chinese tech company's third quarter of 2019 have NTES stock moving Wednesday on mixed results.
The post NetEase Earnings: NTES Stock Drops 8% on Q3 Revenue Miss appeared first on InvestorPlace.
- 11/20/2019
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3 Chinese ADRs to Gain From a Likely Trade Deal
- These three U.S.-listed Chinese stocks have done well so far this year and stand to do better than others should the prolonged U.S.
- 11/13/2019
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3 US-Listed Chinese Stocks Rise on Trade Deal Comments
- Positive trade rhetoric over the weekend helped propel U.S.-listed Chinese stocks Monday.
- 11/05/2019
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NetEase: Think Global, Act Global
- NetEase: Think Global, Act Global
- 10/31/2019
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3 Chinese Stocks to Buy If the Trade War Wraps Up
- The trade war will be resolved at some point, and that should boost Chinese stocks when it happens. These are three stocks to buy that will be rewarded handsomely.
- 10/25/2019
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NetEase Prices IPO Of Youdao At $17 Per ADS
- NetEase, Inc. (NASDAQ: NTES) a Chinese internet and online gaming service provider, on Friday announced the pricing of the initial public offering Youdao Inc of 5,600,000 at $17 per ADS.
- 10/25/2019
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2 Chinese Stocks to Bet On When the Trade War Is Over
- Why the expanding market size of NetEase and iQiyi make these stocks attractive long-term bets.
- 10/21/2019
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5 Stocks With Recent Price Strength Despite Trade Jitters
- Investors target stocks that have been on a bullish run lately. Actually, stocks seeing price strength have a high chance of carrying the momentum forward.
- 10/17/2019
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Why NetEase (NTES) Might be Well Poised for a Surge
- NetEase (NTES) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.
- 10/16/2019
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Why You Should Bet On NetEase
- The $2.7 billion proceeds from the sale of Kaola and a minority stake in NetEase Cloud Music fortified NetEase’s long-term video games strategy.
- 09/19/2019
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Top Ranked Momentum Stocks to Buy for September 19th
- Top Ranked Momentum Stocks to Buy for September 19th
- 09/19/2019
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