HONG KONG (Reuters) - Tencent Music Entertainment has delayed its planned U.S. initial public offering (IPO) until at least November as the owner of China’s most popular music apps prefers to wait for global stock markets to stabilize, three sources said. FILE PHOTO: A Tencent sign is seen during the fourth World Internet Conference in Wuzhen, Zhejiang province, China, December 4, 2017. REUTERS/Aly Song/File Photo The music arm of tech giant Tencent Holdings (0700.HK) is expected to raise at least $2 billion and was originally planning to launch its offering as soon as next week, the sources said. However, Wall Street on Wednesday suffered its worst one-day drop in eight months, with the S&P 500 .SPX down 3.29 per cent. The index dropped a further 2.06 percent on Thursday. “Are they really going to launch into this window?” asked one source involved in the deal, adding that the company had plenty of cash. “Why try and jam something out … [Read more...] about Tencent Music delays $2 billion U.S. IPO due to weak markets: sources
Global internet marketing
By Karin Strohecker and Helen Reid LONDON (Reuters) - A selloff in global stocks tore like a wrecking ball through emerging equities on Thursday with the key index flirting with its biggest daily tumble since the surprise Brexit vote stunned markets in June 2016. A toxic cocktail of rising U.S. Treasury yields and a strong dollar; tighter funding costs and slowing domestic growth; an escalating Sino-U.S. trade war and rising oil prices have roiled emerging markets in recent weeks, sending MSCI's emerging market index <.MSCIEF> down more than 25 percent from January's peak. The emerging benchmark is now falling deeper into bear market territory - defined as peak-to-trough losses of more than 20 percent - after first cracking that milestone in August. Translating this into the index's market cap, the MSCI benchmark has lost some $1.1 trillion or more than 18 percent of its value - more than double the drop in value global stocks have suffered. China's tariff-hit slowdown and … [Read more...] about Deepening bear market sees $1 trillion wiped off emerging equities since 2018 peak
SINGAPORE — A stock market rout that started on Wall Street rolled through Asia, driving China's benchmark to a four-year low on Thursday and knocking down indexes in Japan, Korea and Australia.The Shanghai Composite index plunged 5.2 percent to its lowest level since November 2014 and Japan's Nikkei 225 fell by an unusually wide margin of almost 4 percent. Markets across Southeast Asia recorded similar declines."Equity markets were pulverized today," with investors in "full out retreat," Stephen Innes of OANDA said in a commentary. The "latest sneeze" from Wall Street "could morph into a global markets pandemic," he added.Investors are wary of possible further U.S. interest rate hikes, which will raise the cost of corporate borrowing and weigh on economic growth.On Wednesday, President Donald Trump said the Federal Reserve "is making a mistake" with its campaign of rate increases. "I think the Fed has gone crazy," he charged."Equity investors are surprised by the pace at which … [Read more...] about Will Wall Street sneeze morph into a global stock market pandemic?
Sections SEARCH Skip to content Skip to site index Technology Subscribe Log In Subscribe Log In Today’s Paper Advertisement Supported by ByVindu Goel Aug. 31, 2018 NEW DELHI — In India, American companies dominate the internet. Facebook’s WhatsApp is the most popular app on phones. Virtually every smartphone runs on Google’s Android system. YouTube is the favorite video platform and Amazon is the No. 2 online retailer. For some Indian political leaders, it is as if their nation — which was ruled by Britain for a century until 1947 — is being conquered by colonial powers all over again. And they are determined to stop it. “As a country, we have to all grow up and say that, you know, enough of this,” Vinit Goenka, a railways official who works on technology policy for India’s governing Bharatiya Janata Party, said at a conference last week. In recent months, regulators and … [Read more...] about India Pushes Back Against Tech ‘Colonization’ by Internet Giants
By: Rupert Foster 02/08/2018 Fears of another 1990s-style crisis are overblown: developing countries are now more resilient to external threats and less dependent on rich countries’ business cycles, says Rupert Foster. They also look cheap. This year investors have had a stark reminder that emerging markets are risky assets. After climbing by around 50% throughout 2016 and 2017, the benchmark MSCI Emerging Markets index has slipped by over 10%, while some key emerging markets have fallen dramatically. Equity indices in the Philippines, Indonesia and China are down more than 20%. The Argentine peso has slumped by a third against the dollar. Emerging-market debt has sold off too. Factor in the Trump administration’s protectionism, a headache for traditionally trade-dependent developing countries, and you can see why some investors fear we could see a series of economies blow up in a repeat of the Asian Crisis of 1997.But the doom-mongers are wrong. The … [Read more...] about The slump in emerging markets is a great buying opportunity