4 minutes ago
Chinese billionaire Li Ning plans to take company private – Reuters
Chinese billionaire and former Olympic gymnast Li Ning has announced that he plans to take his sports apparel and equipment company, Li Ning Co., Ltd. private. Reuters report.
Li is reportedly considering leading a consortium to acquire the company, which had a market capitalization of HK$52.85 billion ($6.8 billion) as of Monday.
Li Ning’s stock price rose as much as 19.8% on Tuesday, making the stock its highest since November 2023.
1 hour ago
Foxconn stock hits highest in more than 30 months
Shares in Taiwanese electronic contract maker Foxconn soared more than 8% on Tuesday, hitting their highest since July 2021.
Shares in Foxconn, which trades in Taiwan as Hon Hai Precision Industry Co., have soared over the past two days.
The reason for the rise was not immediately clear, but Bloomberg reported that “the global artificial intelligence craze has pushed local Chinese investors into Taiwan’s Foxconn Industrial Internet shares rather than their own companies. “They’re buying up everything.”
Foxconn Industrial Internet is a subsidiary of Hon Hai.
3 hours ago
Xiaomi stock soars after announcing first EV delivery on March 28th
Shares in Chinese consumer electronics maker Xiaomi rose more than 8% after the company announced it would begin deliveries of its first electric vehicle on March 28.
The stock outperformed the Hang Seng Index, which rose 1.25%.
in Weibo post, The smartphone company announced that orders for the SU7 model will be accepted at 59 stores in 29 cities across China.
— Lim Huijie
5 hours ago
Japan’s two-year bonds hit a 13-year high. 10-year bond yield also rises
Japan’s two-year government bond yield has reached its highest level in 13 years, amid expectations that the Bank of Japan will soon tighten monetary policy.
The two-year Treasury yield rose to 0.2% on Tuesday, the last time it reached this level in January 2010.
The benchmark 10-year government bond yield also rose to 0.778%, the highest level since November 2023.
— Lim Huijie
5 hours ago
Japan’s corporate inflation rate exceeded expectations in February
Japanese corporate price index The year-on-year rate of increase in February was 0.6%, higher than the 0.5% expected by economists polled by Reuters and higher than December’s 0.2%.
Month-on-month, the CGPI rose 0.2%, faster than the 0.1% expected in a Reuters poll and also better than December’s 0% rise.
CGPI measures the price changes of products traded within the corporate sector.
If inflation indicators remain strong, the Bank of Japan could raise interest rates sooner rather than later, which would weigh on Japan’s stock market.
— Lim Huijie
6 hours ago
CNBC Pro: “Really, really cheap”: Pro lists 4 stocks with little attention for China’s recovery
6 hours ago
CNBC Pro: Barclays names 3 global stocks to buy next quarter, gives one 35% upside potential
Barclays has named three European stocks that investors should consider buying next quarter.
Strategists at the Wall Street bank said they had “strong confidence” in these companies because their “risk-adjusted returns are attractive.”All three of his stocks are also traded in the US.
CNBC Pro subscribers can read more here.
— Ganesh Rao
10 hours ago
UBS warns of possible market recession
With sentiment and positioning rising and valuations adequately reflecting the good news in the market, UBS believes a correction could occur.
“While we do not believe investors should lose sight of the bigger picture, the market appears to be susceptible to a pullback,” the bank’s chief investment office said in a letter to clients on Monday.
The team said investors should remain neutral on U.S. stocks and that it makes sense to invest in line with long-term goals, given that “many positive factors remain”. He pointed out that there was.
The company said healthy economic growth and falling inflation are two reasons why the market is performing well. The third reason is artificial intelligence, which the research team said has created “fertile ground for migration risks.”
— Alex Harring
11 hours ago
Oil prices are mixed ahead of February’s key inflation data, oil outlook report
An oil pumpjack in operation outside Taft, Kern County, California, on September 21, 2023.
Frederick J. Brown | AFP | Getty Images
Oil prices were mixed on Monday as traders awaited new inflation data for February and reports on the global oil outlook from OPEC and the International Energy Agency this week.
West Texas Intermediate for April fell 8 cents, or 0.10%, to settle at $77.93 per barrel. The May Brent contract added 13 cents, or 0.16%, to settle at $82.21 per barrel.
Last week, U.S. crude oil and global crude oil fell 2.45% and 1.76%, respectively, due to weak demand in China and comments from the IEA that the market is expected to have ample supply this year. was.
“WTI’s rejection of $80 a barrel has some wondering if this move is over,” Price Futures Group analyst Phil Flynn said in a note Monday. .
— Spencer Kimball
14 hours ago
Coinbase and Microstrategy soar as Bitcoin hits new record
This illustration taken on June 8, 2023, shows a smartphone with the Coinbase logo and a cryptocurrency representation resting on a keyboard.
Dado Ruvik | Reuters
Stocks linked to the price of Bitcoin rose on Monday as the currency rose to new all-time highs.
Cryptocurrency exchange Coinbase rose 3.5%. Bitcoin agency MicroStrategy soared 9% after the company bought about 12,000 more Bitcoins for more than $821 million in cash, according to a filing.
However, there were many different types of miners. Marathon Digital fell 3.75% and CleanSpark fell 4%. Meanwhile, Iris Energy rose 2.6% and Riot Platforms was flat. These were some of the biggest gainers on the stock market in February. All companies except CleanSpark, one of the group’s low-cost operators, posted March results as investors digested the upcoming Bitcoin halving event, which will cut mining companies’ profits. fell.
— Tanaya Machel
