HONG KONG (Reuters) – HSBC Holdings PLC’s China securities brokerage joint venture partner is selling most of its equity ownership, an exchange filing showed, and a source with knowledge of the matter said the bank was expected to bid for the stake. State-owned Qianhai Financial Holding, which owns 49% of HSBC Qianhai Securities, is auctioning…
LONDON (Reuters) – The optimism with which markets started the year showed signs of waning on Wednesday, with European stock indexes mixed following a weaker Asian session that saw higher U.S. Treasury yields hurt technology stocks. With investors expecting the Federal Reserve to begin hiking interest rates as early as March, U.S. Treasury yields jumped…
HONG KONG (Reuters) – Standard Chartered Plc has started operating in split teams in Hong Kong, a bank spokesperson said on Wednesday, as the Asian financial hub announced tough new restrictions after an increase in new COVID-19 cases. Critical teams of the London-headquartered bank, which has about 6,000 staff in Hong Kong, has implemented a…
STOCKHOLM (Reuters) – Volvo Car Group’s monthly sales fell 18.1% in December from a year ago, the Sweden-based automaker said on Wednesday. The company, which is majority owned by China’s Geely Holding, listed on Nasdaq Stockholm in October after wrapping up Europe’s biggest IPO of the year. (Reporting by Helena Soderpalm; Editing by Simon Johnson)
A look at the day ahead from Dhara Ranasinghe. The euphoria seen in world stock markets in the first two trading days of the year already appears to be fading. Asian stocks outside Japan are down 1%, U.S. stock futures point to a weak open and European futures are mixed. The culprit — rising U.S….
SHANGHAI (Reuters) -China’s cyber regulatory body issued on Wednesday draft rules governing mobile apps, including a requirement for security reviews of apps whose functions could influence public opinion. The proposed regulations are part of a campaign run by the Cyberspace Administration of China (CAC) over the past year to increase oversight of the country’s tech…
