Manufacturing PMI 51.9 in March vs. 52.6 in February Non-manufacturing PMI rises at fastest pace in nearly 12 years BEIJING, March 31 (Reuters) – Chinese manufacturing activity expanded at a slower pace in March, official data showed on Friday, raising doubts about the strength of a post-COVID factory recovery amid decline in global demand and … Read more
March 30 (Reuters) – E-commerce company JD.com Inc (9618.HK) plans to divest its real estate and industrial units and list them on the Hong Kong stock exchange in deals worth $1 billion dollars each, two people with direct knowledge said Friday. The plan marks the latest overhaul of China’s tech sector after a sweeping regulatory … Read more
TOKYO, March 31 (Reuters) – Japan said on Friday it would restrict exports of 23 types of semiconductor manufacturing equipment, aligning its trade controls on the technology with U.S. pressure to limit China’s capacity to manufacture advanced chips. Japan, home to the world’s major chip-equipment makers such as Nikon Corp (7731.T) and Tokyo Electron Ltd … Read more
SHANGHAI/HONG KONG, March 30 (Reuters) – Alibaba Group (9988.HK) said on Thursday it would seek to monetize non-core assets and consider relinquishing control of some businesses as the Chinese tech conglomerate reinvents itself after a regulatory crackdown that erased 70% of its shares. Group CEO Daniel Zhang said splitting the company into separate businesses will … Read more
MSCI All-World Index rises 0.3%, dollar eases UBS rehires Ermotti as head of merged unit Alibaba soars 13%, boosts other Chinese tech stocks Oil goes up, gold goes down LONDON, March 29 (Reuters) – Global stocks rose on Wednesday as investors welcomed greater stability in the banking sector, but optimism was not strong enough to … Read more
March 29 (Reuters) – Shares of Alibaba Group (9988.HK) and other big Chinese tech companies surged on Wednesday as investors cheered an unprecedented overhaul of the company founded by Jack Ma, announcing the start of an end to Beijing’s crackdown on the sector. Alibaba said on Tuesday it plans to split into six units and … Read more
March 28 (Reuters) – Alibaba Group (9988.HK) plans to split its business into six main units covering e-commerce and the cloud in the biggest restructuring in its 24-year history, five of which, according to him, will explore fundraising or initial public offerings. . The six units are Cloud Intelligence Group, Taobao Tmall Commerce Group, Local … Read more
WASHINGTON, March 27 (Reuters) – The city of St. Louis, Mo., said on Monday it joined several major U.S. cities in suing Korean automakers Hyundai Motor (005380.KS) and Kia Corp (000270 .KS) for failing to install anti-theft technology in millions of their vehicles. The lawsuit in the U.S. District Court in Missouri follows similar actions … Read more
HONG KONG, March 28 (Reuters) – Global stocks and U.S. bond yields rose on Tuesday as a U.S. regulator-backed deal by First Citizens BancShares to buy bankrupt Silicon Valley Bank eased concerns over problems of the sector. MSCI’s broadest non-Japan Asia-Pacific equity index (.MIAPJ0000PUS) edged up 0.3% in early morning Hong Kong time. US equity … Read more
WASHINGTON, March 28 (Reuters) – The United States and Japan on Tuesday announced a trade deal on electric vehicle battery minerals, which is key to strengthening their battery supply chains and giving Japanese automakers access broader to a new US$7,500 tax credit for electric vehicles. The quickly brokered agreement prohibits the two countries from adopting … Read more
