Chinese regulators have reportedly cleared a plan by billionaire Jack Ma’s Ant Group Co. to raise 10.5 billion yuan ($1.5 billion) for its consumer unit.
Hong Kong stocks opened mixed on Wednesday, with the benchmark Hang Seng gaining over 1%, as investors and traders braced for the release of the minutes of the Federal Reserve meeting.
Trading in the U.S. index futures suggests that stocks may get off to a strong start in the first trading session of 2023. The mood is in contrast to the cautious outlook given by most Wall Street analysts regarding the year's market trajectory.
Alibaba Group Holding Limited (NYSE: BABA) made a few major organizational reshuffling at Alibaba Cloud per Jack Ma's policy to ensure the company always stays agile in the fast-changing internet space.
Hong Kong shares opened in the green on Friday with the benchmark Hang Seng gaining 0.9% in morning trade taking cues from Wall Street which witnessed the much-awaited rebound the day before.
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Chinese video streaming platform IQIYI, Inc's (NASDAQ: IQ) extended reality (XR) business showcased the first headset of a new product line, incorporating elements of augmented, virtual, and mixed reality technology.