Zhejiang Leapmotor Technology, once a fringe player in China’s electric vehicle (EV) industry, is beating all its start-up rivals by sales and stock gains this year and analysts say there is more to come. The carmaker’s Hong Kong-listed shares have doubled since January – outpacing better-known peers XPeng and Xiaomi – and have surged more…
A technician works on a computer at the Applied Materials Inc. facility in Santa Clara, California. (Bloomberg) — Applied Materials Inc. suffered the worst single-day stock decline in five years after giving a disappointing sales and profit forecast, renewing concerns that the US trade dispute with China is weighing on demand. Most Read from Bloomberg…
The Marriner S. Eccles Federal Reserve building in Washington, DC. Photographer: Al Drago/Bloomberg (Bloomberg) — US short-dated bonds yields fell to their lowest levels in more than three months, reflecting conviction among traders that the Federal Reserve will cut interest rates in September. The two-year yield, among the most sensitive to changes in monetary policy,…
CK Asset Holdings, one of the flagship companies owned by billionaire Li Ka-shing’s family, reported weaker-than-expected first-half profit amid a challenging housing market in Hong Kong and declining rental income from its commercial properties. Profit attributable to shareholders fell 26.2 per cent to HK$6.3 billion (US$806.4 million) in the six months to June, according to…
Miami International Holdings (MIAX) signage during the company’s initial public offering (IPO) on the floor of the New York Stock Exchange on Aug. 14. (Bloomberg) — Miami International Holdings Inc. rose 33% from its initial public offering price as the exchange operator became the most recent financial services business to get a warm welcome in…
CK Asset Holdings, one of the flagship companies owned by billionaire Li Ka-shing’s family, reported weaker-than-expected first-half profit amid a challenging housing market in Hong Kong and declining rental income from its commercial properties. Profit attributable to shareholders fell 26.2 per cent to HK$6.3 billion (US$806.4 million) in the six months to June, according to…
(Bloomberg) — Across equity, bond and currency markets, gauges of volatility are slumping to their lowest levels of the year. The Cboe Volatility Index, which measures the expected 30-day volatility for the S&P 500 — and dubbed Wall Street’s fear gauge — just fell to its lowest since December. A similar index for global currencies…
(Bloomberg) — Global investors dived into the riskiest assets after a benign US inflation report dispelled fears of stagflation and lifted a roadblock for the Federal Reserve to cut interest rates. Stocks jumped to fresh record highs, and small-cap stocks, emerging-markets and semiconductors extended a rally. Measures of implied volatility plunged even as President Donald…
(Bloomberg) — Growing worries that artificial intelligence tools could soon disrupt the world’s biggest software businesses are sparking a selloff across the sector. A 30% plunge in Monday.com Ltd. (MNDY) shares grabbed investor attention in Europe on Tuesday, with some analysts saying the drop reflected concerns over the long-term competitive threat of AI as much…
(Bloomberg) — Christopher Harvey, head of equity strategy for Wells Fargo Securities LLC, has left the firm. Most Read from Bloomberg Harvey departed the bank after 12 years, according to a person with knowledge of the matter who asked to remain anonymous because the information is private. He was responsible for establishing the firm’s equity…