Kuaishou

Share to Twitter Share to Linkedin Week in Review Asian equities started the week on a strong note except for Japan, which was off for Marine Day, a national holiday meant to give thanks for the ocean’s bounty. On Tuesday it was reported that Didi will be fined $1B, ending its investigation and allowing the company to resume full operations. SEC Chair Gary Gensler recommended that Congress refrain from shortening the HFCAA compliance window on Wednesday. Baidu World kicked off this week with the announcement of the Apollo RT6 autonomous electric vehicle. Key News Asian equities ended a positive week with a positive Friday except for South Korea. Although Snap’s disappointing results didn’t weigh on Asia tech investors, volumes and news flow were light. Hong Kong internet stocks were mixed with Meituan +0.68%, Alibaba HK +0.1%, Kuiashou +3.28%, and Baidu +0.72%, while Tencent –0.6% with the Prosus selling overhang, JD.com HK -0.16% and NetEase … [Read more...] about China’s Clean Energy Push Grows, Week In Review

- A + A (July 25): The most educated generation in China’s history was supposed to blaze a trail towards a more innovative and technologically advanced economy. Instead, about 15 million young people are estimated to be jobless, and many are lowering their ambitions. A perfect storm of factors has propelled unemployment among 16- to 24-year-old urbanites to a record 19.3%, more than twice the comparable rate in the US. The government’s hardline coronavirus strategy has led to layoffs, while its regulatory crackdown on real estate and education companies has hit the private sector. At the same time, a record number of college and vocational school graduates — some 12 million — are entering the job market this summer. This highly educated cohort has intensified a mismatch between available roles and jobseekers’ expectations. The result is an increasingly disillusioned young population losing faith in private companies and willing to accept lower pay in the state … [Read more...] about China’s Gen Z is dejected, underemployed and slowing the economy

- A + A (July 29): Alibaba Group Holding Ltd fell for a third straight day as investors assessed the impact of Jack Ma reportedly ceding control of his fintech arm, and as worries over its earnings dragged. Shares were down as much as 5.5% in Hong Kong on Friday, among the biggest decliners on the Hang Seng Tech Index. The tech giant is expected to report its first-ever negative quarterly revenue growth next week. Selloff continued as traders debated the implications of a report that Ma may give up his reign over Ant Group Co, a third of which is owned by Alibaba. While the move can clear some regulatory headwinds for both entities, a change in leadership may delay the initial public offering of Ant. “On top of earnings concern, there are some worries that the listing timetable for Ant might be delayed by Jack Ma’s decision,” said Kenny Wen, head of investment strategy at KGI Asia in Hong Kong. “It’s hard for A-share companies to obtain approval if there is a … [Read more...] about Alibaba slumps 5% as traders assess earnings risk, Ant report