Asia news & headlines
Latest breaking stories, features and analysis
- JD.com says its revenue jumped 29.2% in the fiscal third quarter.
- The e-commerce giant reports £870 million of net income in Q3.
- The Chinese firm's annual active customer accounts increased 32.1%.
Latest Asia news
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 more than 1.2 million deaths. Shares of the company opened more than 1.5% up on Wednesday but lost almost the entire intraday gain before market close. Including the price...
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 on Monday and jumped another 1.5% in the next hour. Including the price action, SoftBank Group Corp. is now trading at £52 per share versus £33.55 per share at the s...
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 company closed the regular session on Friday about 2% up. Honda Motor is now exchanging hands at £19 per share versus a year to date low of £15.71 per share in March...
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 session less than 1% down on Friday. At £51.61 per share, Toyota Motor is now 7% down year to date in the stock market after recovering from an even lower £43.68...
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 to date in the stock market after recovering from a low of £135 per share. In comparison, shares of the company were trading at £168 per share at the...
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 history. Ant Group said that its shares in Shanghai will be priced at £7.86 each. Issuing 1.67 billion shares, the world’s largest financial technology company w...
Mitsui & Co (TYO: 8031) said late on Friday that it is committed to hitting its target of net-zero emission by 2050. Before the start of the next decade, the company added, it will switch entirely to gas and will no longer have a stake in coal-fired power stations. Mitsui was one of the Japanese firms in which U.S. billionaire investor Warren Buffett invested a total of £4.6 billion in September. Shares of the company remained flat in...
LG Chem Ltd (KRX: 051910) said on Monday it expects operating profit in the fiscal third quarter to hit a record high, but refrained from disclosing any further information about reasons for its hawkish guidance. Experts, however, attributed it to an increased demand for home appliances in recent months due to the Coronavirus pandemic. Shares of the company were reported more than 1.5% down in premarket trading on Monday. LG Chem lost another 1.2...
Sources confirmed on Saturday that Mitsubishi Motors Corp (TYO: 7211) is planning a voluntary layoff that will affect up to 600 management employees in Japan to minimise costs amidst the Coronavirus pandemic that has weighed heavily on the global auto industry in 2020 The company will seek these workers to retire from mid-November. Shares of the company closed about 2% down on Friday at £1.67 per share. Including the price action, Mitsubishi Moto...
The President of the United States, Donald Trump, said in a statement over the weekend that the proposed deal that would enable TikTok to avoid a ban in the U.S. was agreeable for the government. Originally, the President had ordered ByteDance (owner of TikTok based in China) to divest the video-sharing social network. As per the new deal, TikTok Global will be a United States-based entity. Oracle Corporation (NYSE: ORCL) will own 12.5% of the ne...
Top Glove Corporation (KLSE: TOPGLOV) Corporation expressed plans of a secondary listing in Hong Kong on Thursday in the next six to nine months. The company said that demand was unprecedently high for its disposable gloves in recent months attributed to the ongoing Coronavirus pandemic. Consequently, it reported a historically high profit in its fiscal fourth quarter. Despite its hawkish quarterly performance, Top Glove’s Malaysian listed shares...
In an announcement on Thursday, Playtech plc (LON: PTEC) said that its profit in the first six months of the current fiscal year came in lower than the same period last year. But the company expressed confidence that online business will continue to show resilience in the upcoming months. Shares of the company were reported about 1.5% down in premarket trading on Thursday. The stock lost another 8% on market open. At 366 pence per share, Playtech...
Sources confirmed on Monday that ByteDance had picked Oracle Corporation (NYSE: ORCL) over Microsoft as a partner to save the U.S. arm of its Chinese video-sharing social networking service, TikTok, amidst the rising tensions between the two largest economies of the world. Oracle’s stock remained flat in premarket trading on Monday. Shares of the company are currently exchanging hands at £44.20 per share. In comparison, Oracle had tumbled to £31...
Blockchain developer Zilliqa (ZIL) unveiled its 2020-2021 cohort of companies for its ZILHive Accelerator program, giving blockchain for FinTech and Open Finance (OpFi)-minded developers and investors eight new prospects to watch. The six-month accelerator works with early- and late-stage startups that plan to use Zilliqa’s blockchain platform to build blockchain for FinTech, and the more specific area of OpFi. The program, which started Au...
Semiconductor Manufacturing International Corporation (HKG: 0981) slid sharply in premarket trading on Monday as the United States expressed plans of prohibiting American companies from doing business with the Chinese firm. Consequently, the company lost £3.04 billion of market value. In related news, Verizon chose Samsung Electronics over Nokia as its 5G equipment supplier on Monday. Shares of the company tanked more than 20% in the stock market...
Anonymous sources confirmed on Friday that Yum China (NYSE: YUMC) is interested in listing on the Hong Kong Stock Exchange. As per the sources, the company will price its shares at £40.33 and expects to raise a total of £1.68 billion from its secondary listing in Hong Kong. The fast-food restaurant company, sources added, plans on selling a total of 41.91 million shares in its Hong Kong listing. The per-share price they highlighted represents a 4...
In an announcement on Friday, Nio Inc. (NYSE: NIO) expressed plans of expanding its operations to Europe. China’s largest electric car manufacturer listed in the United States in 2018 and is considered a competitor of the market-dominating, Tesla Inc. Shares of the company were reported about 7% up after an hour of market open on Friday to print an intraday high of £11.11 per share. On a year to date basis, Nio is currently more than 275% up in t...