Asia - Spark Newswire

2 minute read

Alibaba Stock Plummets As Chinese Regulators Pressure Jack Ma To Cede Control Of Ant Financial

Today, 12:14 PM

Alibaba Group Holding Ltd - ADR (NYSE: BABA) finished a news-packed week on a low note Friday and was down about 9.5% following reports that billionaire Jack Ma is giving up control of Ant Financial.

BABA

2 minute read

Babel Finance Lost $280 Million Due To Unhedged Propriety Trading: Report

By Murtuza Merchant

Today, 12:14 PM

Beleaguered crypto lending platform Babel Finance lost more than $280 million in customer funds due to failed propriety trading after the markets suffered significant losses over the past few months, The Block reported Friday, quoting Babel's&n

BTC

1 minute read

Why This New Oriental Education & Tech Analyst Says Chinese Stock Primed For ‘New Start’

By Priya Nigam

Today, 12:14 PM

While New Oriental Education & Tech Grp’s (NYSE: EDU) performance in the fiscal fourth quarter (May quarter) is likely to be under pressure, both revenue and profitability may recover from the first quarter, according to BofA Securities.

EDU

2 minute read

Jack Ma Goes On Euro Trip After Stepping Back From Business Empire: Has China Eased Pressure On Him?

By Navdeep Yadav

Today, 12:14 PM

Chinese business magnate and co-founder of Alibaba Group Holdings (NYSE: BABA) Jack Ma was reportedly spotted in Europe after largely disappearing from public view for almost two years.

BABA

1 minute read

Amazon Highlights EV Partnership With Indian Auto Giant Amid Earnings Beat

By Bhavik Nair

Today, 12:14 PM

While reporting upbeat earnings on Thursday, Amazon.com, Inc. (NASDAQ: AMZN) also highlighted its partnership with Indian auto giant Tata Motors Limited ADR (NYSE: TTM).

AMZN

2 minute read

Alibaba Slumps 4% After Reports Of Jack Ma’s Plan For Ant: Hang Seng Falls Despite Wall Street Rally Amid Xi-Biden Phone Call

By Bhavik Nair

Today, 12:14 PM

Hong Kong’s benchmark Hang Seng Index was in the red on Friday, losing over 0.5% in opening trade, despite a continuing rally on Wall Street. Alibaba shares fell close to 4% following reports Chinese billionaire Jack Ma is planning to cede control of Ant Group.

AAPL

2 minute read

Alibaba Falls, Hang Seng Opens Lower After Hong Kong Follows Fed In 75 Bps Rate Hike

By Bhavik Nair

Today, 12:14 PM

Hong Kong's benchmark Hang Seng Index edged lower on Thursday morning, with major U.S.-listed Chinese stocks trading mixed, after the city's central bank hiked interest rates in tune with the U.S. Federal Reserve's move overnight.

BABA

2 minute read

Alibaba, Nio Fall Over 3% As Hang Seng Tracks Weaker Wall Street Close: All Eyes Now On Aussie Inflation Data

By Bhavik Nair

Today, 12:14 PM

Shares of Alibaba, Nio and Li Auto lost more than 3% on Wednesday morning with the Hong Kong’s benchmark index Hang Seng falling over 1%, ahead of the release of Australia’s inflation report.

BABA

1 minute read

Why Non-Profits Are Urging Elon Musk Not To Invest In Indonesia’s Nickel Industry

By Bhavik Nair

Today, 12:14 PM

Multiple non-governmental organizations (NGOs) have reportedly sent an open letter to Tesla Inc (NASDAQ: TSLA) CEO Elon Musk, asking him not to invest in Indonesia's nickel industry owing to environmental concerns.

TSLA

1 minute read

Oil Gains As Russia Leaves Europe Gasping For Natural Gas

By Bhavik Nair

Today, 12:14 PM

Oil rose in Asia trading on Tuesday morning, driven by anticipation that Russia's reduction of natural gas supply to Europe would prompt a switch to crude, although demand concerns on possible U.S. rate hikes kept a lid on gains.

OGZPY