(Bloomberg) — Chinese tech stocks extended their rally Thursday, fueled by persistent investor enthusiasm for the country’s artificial intelligence developers. The Hang Seng Tech Index climbed 0.9%, led by gains in JD.com Inc., the e-commerce giant with ambitious AI plans, and smartphone maker Xiaomi Corp. The index, which tracks Chinese technology companies listed in Hong…
Memory chipmaker Micron Technology (MU) reported fiscal fourth quarter results after the bell on Tuesday that topped Wall Street estimates. Micron posted revenue of $11.3bn (£8.38bn) for the quarter, ahead of the $11.15 billion expected by analysts polled by Bloomberg. Adjusted earnings per share of $3.03 also beat forecasts of $2.84. The company’s guidance for…
Hong Kong’s bankers and traders hunkered down at home or booked hotels near their offices as Super Typhoon Ragasa descended on the Asian financial hub. The big international banks, including Goldman Sachs, Morgan Stanley and HSBC Holdings, told most employees to work from home before the typhoon unleashed a deluge of rain and sustained winds…
Jim Cramer is a busy man. The “Mad Money” host, known for his emphatic delivery and bold stock calls on the air, gave a rundown of his hectic schedule when speaking on Bloomberg’s “Odd Lots” podcast on Monday. Here were the highlights of his routine: The longtime investing personality said he kicks off his day…
Hong Kong’s office segment is picking up due to leasing demand from mainland Chinese law firms and financial groups, supported by a buoyant stock market that has seen an increasing number of companies launch initial public offerings (IPOs) in the city. Office-leasing activity in August grew for a fifth straight month, with tenants absorbing 313,800…
(Bloomberg) — Indian information technology companies took a hit Monday on concern that the hefty increase in US visa fees will pressure earnings at the nation’s leading outsourcing firms. Most Read from Bloomberg The sector gauge dropped 3% in Mumbai, its worst day in over five months, erasing $10 billion in market value. Shares of…
(Bloomberg) — Chinese households are tiptoeing back into equities, driven in part by a stark reality: Almost nothing else looks worth buying. The CSI 300 Index has surged more than 25% since its April lows, fueled by enthusiasm over artificial intelligence and easing relations with the US, which culminated in a call between Donald Trump…
Elon Musk sent Tesla shares soaring to their highest level since January after purchasing roughly $1 billion worth of the company’s stock, Bloomberg reported in mid-September. The price jump brought Tesla’s shares into positive territory for the year. The purchase represented Musk’s first acquisition of Tesla stock since February 2020, according to Bloomberg. In 2022,…
(Bloomberg) — The Federal Reserve poured fresh fuel on the Wall Street rally this week, pushing September toward the broadest cross-asset surge since the 2021 frenzy — with fear in retreat and greed unleashed. Most Read from Bloomberg An interest-rate cut meant to cushion the weakening labor market might once have sparked caution. Instead, it…
The Tokyo Stock Exchange. Photographer: Shoko Takayasu/Bloomberg (Bloomberg) — Japan’s stocks dropped after the central bank said that it will begin selling its holdings of exchange-traded funds. Bonds fell as two dissenting voices on the board increased expectations of an interest rate hike next month. The Nikkei 225 Stock Average earlier fell as much as…