Alibaba and Tencent stocks plunge after latest fines
2 years, 6 months ago

Alibaba and Tencent stocks plunge after latest fines

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Shares of Chinese technology firms Alibaba and Tencent fell sharply on Monday, a day after Chinese regulators fined their subsidiaries for not disclosing transactions and failing to comply with anti-monopoly rules. E-commerce giant Alibaba’s shares in Hong Kong fell 6.8%, while gaming and social media company Tencent Holdings sank 3.2%. A wide-reaching crackdown on the technology sector has often hit stock prices in Hong Kong and Shanghai, though signs the authorities might be easing up spurred gains in recent months. The market was more wary about the U.S. raising interest rates so sharply, but it’s just been overrun by the new fines,” said Francis Lun, an investment manager and veteran market commentator in Hong Kong.

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History of this topic

Stock market today: Asian shares advance, tracking rally on Wall Street
1 month ago

Stock market today: Asian shares advance, tracking rally on Wall Street

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Shares advanced Thursday in Asia …

Stock market today: Asian shares sink, weighed down by Wall St tech retreat, China policy questions
5 months, 4 weeks ago

Stock market today: Asian shares sink, weighed down by Wall St tech retreat, China policy questions

Associated Press  

Asian shares retreated Friday after a broad washout across Wall Street dragged U.S. stocks lower, and Hong Kong’s benchmark fell more than 2% as investors remained wary over China’s plans for helping its ailing property sector. AP AUDIO: Stock market today: More drops for big tech stocks keep dragging Wall Street lower AP business correspondent Seth Sutel has the AP …

Alibaba’s profit in Q4 tumbles due to equity investments, New York-listed stock plunges
8 months ago

Alibaba’s profit in Q4 tumbles due to equity investments, New York-listed stock plunges

Associated Press  

HONG KONG — Chinese e-commerce company Alibaba Group Holding on Tuesday posted a greater-than-expected decline in profit for the fourth quarter due to its equity investments, sending its stock price plunging in New York. Its net income for the quarter ended March was 3.3 billion yuan, down 86% compared to the same time last year and missing analyst estimates. Revenue …

Chinese shares jump as Beijing steps up moves to boost sagging markets
11 months, 1 week ago

Chinese shares jump as Beijing steps up moves to boost sagging markets

Associated Press  

BANGKOK — A Chinese state investment fund promised to expand its purchases of stock index funds, among other moves signaling Beijing’s resolve to stabilize markets that have been sagging under heavy selling pressure from a property crisis and slowing economy. Shares in Shanghai and Hong Kong surged Tuesday after the announcement by Central Huijin Investment, whose subsidiaries include Chinese state-owned …

Alibaba shares plunge as much as 10% after canceling plans to spin off cloud unit
1 year, 1 month ago

Alibaba shares plunge as much as 10% after canceling plans to spin off cloud unit

Associated Press  

HONG KONG — Shares of Chinese e-commerce firm Alibaba Group Holding plunged as much as 10% in New York after it said Thursday that plans to spin off its cloud business were scrapped, citing uncertainties due to U.S. chip restrictions. Alibaba Chairman Joe Tsai said Thursday during an earnings call that a spinoff of its cloud unit “may not achieve …

Stock market today: Asia sinks after a survey shows China's industrial activity is weakening
1 year, 6 months ago

Stock market today: Asia sinks after a survey shows China's industrial activity is weakening

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Asian stock markets sank Wednesday …

For Alibaba, Six Is Bigger Than One—And a Smaller Target
1 year, 9 months ago

For Alibaba, Six Is Bigger Than One—And a Smaller Target

Live Mint  

Six is bigger than one. The core Chinese e-commerce business will stay wholly owned by Alibaba but each of the other units could seek their own funding, and maybe eventually conduct initial public offerings. Analysts from Goldman Sachs and Morgan Stanley have both said the market is currently valuing Alibaba’s businesses outside its core Chinese e-commerce segment at zero. Alibaba’s …

Alibaba posts loss, slower revenue amid lower consumption
2 years, 1 month ago

Alibaba posts loss, slower revenue amid lower consumption

Associated Press  

HONG KONG — Chinese e-commerce company Alibaba Group on Thursday posted net losses and missed market expectations for revenue in its quarter ended September amid a slowing economy and depressed consumer sentiment. Revenue grew 3% compared to the same time last year to 207.2 billion yuan, as the company saw decreased consumer spending as China continued its strict COVID-19 policies …

Tencent revenue falls for first time since going public
2 years, 4 months ago

Tencent revenue falls for first time since going public

Hindustan Times  

Chinese tech giant Tencent on Wednesday posted its first drop in quarterly revenue since going public, as the company grapples with China's economic downturn, pandemic disruptions and ongoing scrutiny from regulators. Tencent also cut around 5,500 jobs down to 110,715 employees by the end of June, the first quarterly decline in workforce since 2014. Tencent said China's domestic gaming market …

China stocks: Alibaba and JD.com rally on hopes tech crackdown is ending soon
2 years, 7 months ago

China stocks: Alibaba and JD.com rally on hopes tech crackdown is ending soon

CNN  

Hong Kong CNN Business — Shares in Chinese tech companies have surged this week on hopes that Beijing is close to ending a yearlong regulatory crackdown on the industry. The gains followed a strong session for Chinese stocks on Wall Street on Monday,when the Nasdaq Golden Dragon China Index soared 5.4%. “The headline sparked speculation that Beijing was ending the …

Shares plunge as fears grow over impact of China’s draconian Covid lockdown
2 years, 8 months ago

Shares plunge as fears grow over impact of China’s draconian Covid lockdown

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

Tencent Q4 earnings prompt stock tumble as China crackdown hits growth
2 years, 9 months ago

Tencent Q4 earnings prompt stock tumble as China crackdown hits growth

CNN  

Hong Kong CNN Business — Tencent’s stock suffered a sharp drop after the company reported its slowest-ever growth due to a bruising crackdown by China on the country’s tech sector. Co-founder Pony Ma and president Martin Lau joined an earnings call on late Wednesday and acknowledged that 2021 was a “challenging year” for Tencent and China’s internet industry more broadly. …

Alibaba raises buyback to $25B to boost slumping stock
2 years, 9 months ago

Alibaba raises buyback to $25B to boost slumping stock

Associated Press  

BEIJING — Alibaba Group, the world’s biggest e-commerce company, increased a share buyback to $25 billion from $15 billion on Tuesday to prop up a stock price that has fallen by more than half since the ruling Communist Party tightened control over tech industries by launching regulatory crackdowns. Alibaba’s U.S.-traded shares have fallen 56%, wiping out hundreds of billions of …

Tencent, Alibaba, Meituan stocks continue to plunge as China expands its crackdown
3 years, 5 months ago

Tencent, Alibaba, Meituan stocks continue to plunge as China expands its crackdown

CNN  

Hong Kong CNN Business — Chinese tech stocks keep getting slammed with a stunningly massive sell-off that has wiped outhundredsof billions of dollars in market valueas investors continue to digest Beijing’s widening crackdown on private enterprise. Meituan closed down 17.7% in Hong Kong on Tuesday, eclipsing Monday’s massive 14% loss — making it the food delivery firm’s worst two days …

Tencent just got a bit of good news from Chinese regulators on its Sogou deal
3 years, 6 months ago

Tencent just got a bit of good news from Chinese regulators on its Sogou deal

CNN  

Hong Kong CNN Business — Chinese regulators have cleared the way for Tencent to take complete control of Sogou, a major search engine that could help the tech firm take on market leader Baidu. China’s State Administration for Market Regulation said Tuesday that it had “unconditionally approved” the buyout, which will take New York-listed Sogou private. “This merger is powerful,” …

Didi, Alibaba, Tencent stocks roiled by worsening crackdown
3 years, 6 months ago

Didi, Alibaba, Tencent stocks roiled by worsening crackdown

CNN  

Hong Kong CNN Business — China is not slowing down with its historic tech crackdown. A bunch of antitrust fines The latest concerns unfolded Wednesday when China’s antitrust regulator fined several internet companies — including Didi, Alibaba and Tencent — over accusations that they violated thecountry’sAnti-Monopoly Law while making mergers or acquisitions over the last 10 years, according to the …

Alibaba accepts record $2.8bn fine and thanks Chinese authorities for ‘guidance’
3 years, 9 months ago

Alibaba accepts record $2.8bn fine and thanks Chinese authorities for ‘guidance’

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Alibaba group has accepted the …

Alibaba’s record fine is a ‘warning shot’ in China’s tech crackdown
3 years, 9 months ago

Alibaba’s record fine is a ‘warning shot’ in China’s tech crackdown

CNN  

Hong Kong CNN Business — Alibaba is trying to draw a line under accusations that it behaved like a monopoly after Chinese regulators hit the online shopping giant with a record fine over the weekend. Joe Tsai, Alibaba Group’s co-founder and executive vice chairman,told investors on Monday that the company will not appeal the 18.2 billion yuan penalty that China’s …

Alibaba: Jack Ma company fined £2.4bn by China over alleged market violations
3 years, 9 months ago

Alibaba: Jack Ma company fined £2.4bn by China over alleged market violations

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy China has fined Jack Ma’s …

Asian markets mixed after tech sell-off on Wall St
3 years, 9 months ago

Asian markets mixed after tech sell-off on Wall St

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

Asian shares mostly lower, China gains on GDP rebound
3 years, 11 months ago

Asian shares mostly lower, China gains on GDP rebound

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Shares fell Monday across most …

U.S. considering adding Alibaba, Tencent to China stock ban: sources
4 years ago

U.S. considering adding Alibaba, Tencent to China stock ban: sources

The Hindu  

The Trump administration is considering adding tech giants Alibaba and Tencent to a blacklist of firms allegedly owned or controlled by the Chinese military, two people familiar with the matter said - a move that could inflame tensions with Beijing days before U.S. President-elect Joe Biden takes office. If added, Alibaba and Tencent would be subject to an executive order …

U.S. officials weigh adding Alibaba, Tencent to investment ban
4 years ago

U.S. officials weigh adding Alibaba, Tencent to investment ban

LA Times  

Senior U.S. officials are debating whether to bar investments in Alibaba Group Holding Ltd. and Tencent Holdings Ltd., according to people with knowledge of the talks, potentially expanding a Wall Street blacklist that’s already cost shareholders billions of dollars. The discussions among senior U.S. officials involving Alibaba and Tencent focus in part on how such a move might affect capital …

Hong Kong’s stock market sees its future in Chinese tech
4 years, 5 months ago

Hong Kong’s stock market sees its future in Chinese tech

CNN  

Hong Kong CNN Business — Hong Kong is launching a new Nasdaq-like technology index. Hang Seng Indexes, the city’s leading index compiler, on Monday announced the creation of a new benchmark that will track the 30 largest tech firms that trade in Hong Kong. “We hope the move will help attract more tech companies to list in Hong Kong.” The …

Alibaba stock comes out with a bang in Hong Kong debut – Asian market latest
5 years, 1 month ago

Alibaba stock comes out with a bang in Hong Kong debut – Asian market latest

CNN  

Hong Kong CNN Business — Alibaba’s stock popped nearly 7% in its Hong Kong debut — a strong showing for one of China’s most prominent tech companies. On Tuesday, 14 billion Hong Kong dollars worth of Alibaba shares changed hands on the Hong Kong exchange, helping boost overall turnover. The company chose to conduct its IPO in New York instead …

Alibaba listing: Company finds strong demand for Hong Kong shares despite turmoil in the city
5 years, 1 month ago

Alibaba listing: Company finds strong demand for Hong Kong shares despite turmoil in the city

CNN  

Hong Kong CNN Business — Investors are falling over themselves to buy into Alibaba’s debut on the Hong Kong stock market. The Hong Kong listing was “multiple times subscribed,” the person said, adding that the final price retail investors will pay for the Hong Kong listing will be based on Alibaba’s closing price Tuesday in New York, where its shares …

Alibaba wants to raise $13.4 billion in Hong Kong listing
5 years, 2 months ago

Alibaba wants to raise $13.4 billion in Hong Kong listing

CNN  

London CNN Business — Chinese e-commerce giant Alibaba has announced plans to raise up to $13.4 billion by issuing shares in Hong Kong, a vote of confidence in the Asian financial hub that has been rocked by months of civil unrest. Alibaba will price 500 million new shares on or around November 20, with trading starting in Hong Kong roughly …

Alibaba’s possible $15bn fall listing: A boon for Hong Kong?
5 years, 2 months ago

Alibaba’s possible $15bn fall listing: A boon for Hong Kong?

Al Jazeera  

The e-commerce giant’s listing could boost the Asian financial hub as it struggles with anti-government protests. Alibaba Group Holding Ltd plans to launch a Hong Kong share offering to raise $10bn to $15bn in the final week of November, in a deal that could boost the Asian financial hub as it struggles with anti-government protests. The United States-listed Chinese e-commerce …

Alibaba eyes November window for $10 bn IPO
5 years, 2 months ago

Alibaba eyes November window for $10 bn IPO

Live Mint  

Alibaba Group Holding Ltd is deciding between launching a sharply reduced $10 billion Hong Kong share sale in November or delaying the deal till next year as global uncertainty mounts, people familiar with the matter say. It can proceed with a required initial public offering hearing—either after its 1 November earnings or 11 November Singles’ Day shopping gala—or risk postponing …

Alibaba postpones its up to $15 bn listing in Hong Kong due to growing protests
5 years, 4 months ago

Alibaba postpones its up to $15 bn listing in Hong Kong due to growing protests

Firstpost  

a listing by Alibaba is a big deal for the Hong Kong stock exchange, which is lagging behind its New York rivals China’s biggest e-commerce company Alibaba Group Holding Ltd has delayed its up to $15 billion listing in Hong Kong amid growing political unrest in the Asian financial hub, two people with knowledge of the matter told Reuters. Earlier …

Alibaba delays $15bn stock market listing amid Hong Kong protests, say reports
5 years, 4 months ago

Alibaba delays $15bn stock market listing amid Hong Kong protests, say reports

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Alibaba has postponed its long-awaited …

Tencent posted a big profit. But there’s trouble ahead
5 years, 5 months ago

Tencent posted a big profit. But there’s trouble ahead

CNN  

Hong Kong CNN Business — Tencent’s profit jumped 35% in the second quarter thanks to a sharp turnaround in its video game business. Shares in Tencent tumbled nearly 3% in Hong Kong on Thursday after the tech giant reported sales that fell short of analyst expectations and warned that an economic slowdown in China was hurting its advertising business. “China’s …

Tencent profit plunges 32% but its gaming business is recovering
5 years, 9 months ago

Tencent profit plunges 32% but its gaming business is recovering

CNN  

Hong Kong CNN Business — Tencent’s troubles aren’t over yet. Brokerage firm Daiwa said Tencent’s solid gaming business will continue to pull in money, users and overseas players. “We believe the company’s ability to procure quality gaming content in adverse market conditions will drive a recovery in sentiment,” Daiwa analysts wrote in a report published Wednesday. Tencent is still waiting …

Tencent announces restructuring amidst introduction of tougher govt regulation
6 years, 3 months ago

Tencent announces restructuring amidst introduction of tougher govt regulation

Firstpost  

The reshuffle is followed by a hefty fall in market value for Tencent Holdings this year. Chinese internet giant Tencent Holdings announced on Sunday its first restructuring in six years, done at a time it faces increased challenges from tighter government regulations. The reshuffle comes as Tencent Holdings, which has seen a hefty fall in market value this year, is …

Tencent market value slumps by $20 billion after Chinese crackdown on gaming
6 years, 4 months ago

Tencent market value slumps by $20 billion after Chinese crackdown on gaming

Firstpost  

Chinese Ministry called on parents to limit the time their children spend using mobile phones. Tencent Holdings’ market value slumped by around $20 billion on Friday after China intensified a crackdown on online gaming citing rising levels of myopia, heightening regulatory risks for companies in the world’s biggest gaming market. Tencent has lost more than $160 billion in market value …

Tencent loses $20 billion in value after China attacks myopia with gaming curbs
6 years, 4 months ago

Tencent loses $20 billion in value after China attacks myopia with gaming curbs

Live Mint  

Hong Kong/Beijing: Tencent Holdings’ market value slumped by around $20 billion on Friday after China intensified a crackdown on online gaming citing rising levels of myopia, heightening regulatory risks for companies in the world’s biggest gaming market. The limits came around the same time as Tencent drew scrutiny from China’s communist party mouthpiece, the People’s Daily, which described “Honour of …

Tencent’s $143 billion rout is world’s biggest as tech sinks
6 years, 5 months ago

Tencent’s $143 billion rout is world’s biggest as tech sinks

Live Mint  

Hong Kong: If you thought the slump in US technology stocks was bad, take a look at Tencent Holdings Ltd. Tencent, Asia’s second-largest company after e-commerce behemoth Alibaba Group Holding Ltd., has also been dogged by concern that growth in its mobile-gaming unit is slowing. “Investors are increasingly pricing in lower expectations for Tencent’s interim results,” said Linus Yip, a …

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