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…
SHANGHAI (Reuters) – China’s top market regulator said on Wednesday it has fined units of Alibaba Group Holding Ltd, Tencent Holdings Ltd, and Bilibili Inc for failing to properly report about a dozen deals. (Reporting by Josh Horwitz; Editing by Kim Coghill)
By Alun John HONG KONG (Reuters) – Asian stocks slipped on Wednesday following a mixed Wall Street session as higher U.S. Treasury yields weighed on global tech firms and pushed the dollar to a five-year high against Japan’s yen. U.S. yields rose on Tuesday as bond investors geared up for interest rate hikes from the…
HONG KONG (Reuters) -Shares of China Huarong Asset Management Co Ltd plunged as much as 50% in Hong Kong on Wednesday to a record low, as trading resumed after a nine-month suspension, giving investors the chance to revalue the embattled company. Shares were last trading at HK$0.52 ($0.067), the lowest since the company debuted in…
By Chibuike Oguh (Reuters) – Private equity firm TPG disclosed on Tuesday it is aiming for a $9.5 billion valuation in its U.S. initial public offering (IPO), as it presses on with a stock market flotation later this month. The underperformance of its peers’ shares over much of the last decade gave TPG pause in…
By Tom Westbrook SYDNEY (Reuters) – The yen was pinned near a five-year low on the dollar on Wednesday and nursing losses on other crosses as traders wagered the Bank of Japan would lag a looming wave of global policy tightening as inflation gallops ahead around the world. The yen tumbled through support around 115.50…
SINGAPORE (Reuters) -Chinese gaming and social media company Tencent Holdings Ltd has sold 14.5 million shares in Singapore-based gaming and e-commerce firm Sea Ltd at $208 each to raise $3 billion, according to a term sheet seen by Reuters on Wednesday. Tencent sold the stock at the lower end of the $208.00-$212.00 per share range…
(Reuters) – Chinese gaming and social media company Tencent Holdings Ltd on Wednesday sold a stake worth $3.01 billion in Singapore-based gaming and e-commerce firm Sea Ltd. Tencent sold 14.5 million shares in Sea Ltd at $208 each in a block trade, according to a term sheet reviewed by Reuters. It had said on Tuesday…
