Asia news

In a financial update on Tuesday, Seven & I Holdings Co. (TYO: 3382) said that its net profit in the first three quarters combined came in 23% lower on a year over year basis. The company attributed the decline to its domestic convenience-stores that took a hit from the ongoing…

Automakers including Toyota Motor Corp, Nissan Motor, Ford Motor Co (NYSE: F), and Fiat Chrysler Automobiles said on Friday that demand for semiconductors recovered quickly after the initial hit from the Coronavirus pandemic, but the supply was still lagging behind. Consequently, the car manufacturers said, they will resort to…

Niu Technologies (NASDAQ: NIU) said on Friday that it sold a total of 149,705 e-scooters in the fiscal fourth quarter that represents a 40.9% growth on a year over year basis. As per the Nasdaq-listed company, it sold 137,586 e-scooters in China that made up 91% of its total quarterly…

Alibaba Group Holding Limited (HKG: 9988) said on Tuesday that it plans on closing Xiami Music in February. The Chinese tech giant had acquired the music streaming platform in 2013 in a bid to expand its footprint in the entertainment industry. Alibaba’s online music arm made the announcement via its…

In a report on Friday, Yomiuri Shimbun (daily newspaper) said that Nissan Motor (TYO: 7201) was considering reducing its operations further in Europe. Sales and manufacturing of Nissan cars, the report added, is expected to be outsourced to alliance partner Renault. Nissan has recovered sharply in the stock market…

In an announcement on Friday, Tesla Inc. (NASDAQ: TSLA) said it will deliver its China-made Model Y sports-utility vehicle (SUV) to the countrywide customers in January. The announcement comes roughly two months after China had given the green signal to the electric car manufacturer to sell its local-made SUV.

A source confirmed on Friday that Huawei took an aggressive step of removing Tencent’s (HKG: 0700) online games from its app store as the two companies couldn’t strike a deal over revenue sharing. The news comes more than a month after Tencent had announced a 29% annualised growth…

Ant Group Co Ltd plans on folding consumer lending and the majority of its other online financial operations into a holding company. Sources also confirmed on Tuesday that the said company will be regulated much like a conventional financial firm. It is yet to be revealed if Alipay – the…

In an announcement late on Sunday, Alibaba Group Holding Ltd. (HKG: 9988) said it will repurchase £7.41 billion worth of shares through 2022. Previously, the company had valued its stock repurchase program at a much lower £4.44 billion. The share buyback programme started earlier in the current quarter, and…

Weibo Corporation (NASDAQ: WB) published its financial results for the fiscal third quarter on Monday that came in better than what analysts had anticipated. The company attributed its hawkish performance to the ongoing Coronavirus pandemic that restricted people to their homes resulting in more users turning to social networks this…

China’s antitrust regulator said on Thursday it had launched an investigation into the e-commerce giant, Alibaba Group (HKG: 9988). The tech company’s Ant Group affiliate, as per the State Administration for Market Regulation (SAMR), will be summoned for a meeting in the upcoming weeks. The Hong Kong-listed shares of…

Despite the increasing institutional demand for Bitcoin, on-chain metrics show that whales have been offloading a significant number of tokens over the past few weeks. If the selling spree continues, BTC could drop nearly 30%.   On the cusp of a massive sell-off Mt. Gox continues playing an important role in…

In a report on Wednesday, Top Glove Corp (OTCMKTS: TPGVF) said that its net profit in the fiscal first quarter saw an unprecedented over 20-fold increase as the ongoing COVID-19 crisis sustained demand for gloves in recent months. The company also acknowledged production efficiency and higher selling price as…

JD.com Inc. (NASDAQ: JD) said on Monday that its profit and sales in the fiscal third quarter came in stronger than expected. Earlier this year, the Chinese e-commerce giant raised £3.04 billion via its secondary listing in Hong Kong in June.   JD.com slipped close to 4% in premarket…

Rosneft Oil Co. (MCX: ROSN) said on Friday that it concluded the fiscal third quarter in loss, but underlying earnings posted an over 100% growth versus the prior quarter as oil prices recovered sharply in recent months after a historic low earlier this year due to the Coronavirus pandemic…

Tencent Holdings Ltd. (HKG: 0700) said on Thursday that its net profit in the fiscal third quarter posted a massive 89% growth on a year over year basis. The company attributed its hawkish performance to better cost efficiency and robust demand for its gaming business that resulted in higher…

In a report on Wednesday, Toshiba Corp. (TYO: 6502) said that its operating profit in the fiscal second quarter posted a 64% decline as it struggled to recover from the impact of the COVID-19 crisis that has so far infected a little under 52 million people worldwide and caused…

SoftBank (TYO: 9984) said on Monday that it swung to a net profit in the fiscal second quarter, on the back of earnings attributed to its Vision Fund business, including its investment in Beike (Chinese property brokerage). Shares of the company opened about 3% up in the stock market…

Honda Motor Co. (TYO: 7267) said on Friday that its earnings jumped 28% in the fiscal second quarter as sales recovered quickly in China after months of halt due to the Coronavirus pandemic. The company also raised its guidance for annual operating profit by over 100%. Shares of the…

Toyota Motor Corp (TYO: 7203) raised its guidance for annual profit by over 100% on Friday as sales recovered quickly in China after months of halt due to the Coronavirus pandemic. Its earnings in the fiscal second quarter, however, were down 24%. Shares of the company closed the regular…

Alibaba Group Holding Ltd. (NYSE: BABA) said on Thursday that its profit in the fiscal second quarter came in better than expected as consumer spending improved in recent months after months of disruptions due to the Coronavirus pandemic. At £227 per share, Alibaba is currently more than 35% up year…

Ant Group said on Monday that its dual IPO (initial public offering) will raise a total of £26.44 billion. The company announced the per-share price for 1.67 billion new shares each to be issued simultaneously in Hong Kong and Shanghai. Ant Group’s dual IPO will be the largest listing in…