Why Alibaba, Uber-Backed Zomato’s Stock Is Nosediving Today
Shares of Indian food-delivery firm Zomato plunged 14% in intra-day trade on Monday touching as low as INR 46 per share, thereby, wiping out over $125 million in investor wealth.
Oil Hits 1-Week Low As EU Eases Russian Sanctions, US Demand Concerns Grow
Oil fell in Asia trading on Monday morning, dragged by the European Union (EU) easing sanctions on Russian oil and growing demand concerns in the United States ahead of a possible rate hike later this week.
Dollar Pares Losses Against Major Peers As Potential 75 Bps Fed Rate Hike Looms
The U.S. dollar traded strongly on Monday morning, gaining against most peers ahead of a potential 75 basis points rate hike by the U.S. Federal Reserve later this week. The U.S. dollar index, which measures the greenback’s strength against a basket of currencies, traded close to 106.64, below its two-decade high of 109.29 recorded in early July.
Alibaba Drops 2%, Nio Leads EV Crash With 7.5% Plunge: Is Snap Fallout Behind Hang Seng Bloodbath?
Hong Kong’s benchmark Hang Seng Index opened in the red on Monday following a weaker close on Wall Street on Friday, which was dominated by a plunge in social media stocks. The Hang Seng fell 0.6% in opening trade ahead of the crucial U.S. Federal Reserve meeting later this week that could potentially see a 75 bps rate hike.
Nio, EV Peers Surge, Alibaba Edges Higher As Hang Seng Takes Strong Cues From Wall Street
U.S.-listed Chinese electric-vehicle stocks surged in early Hong Kong trading on Friday, with Nio Inc (NYSE: NIO) and Li Auto Inc (NASDAQ: LI) adding more than 4%, following a firmer close on
Amazon’s Project Kuiper Satellites Could Be Coming To This Highly Populated Country Soon In Battle With Starlink
E-commerce giant Amazon.com Inc (NASDAQ: AMZN) has been building up a satellite internet service over the years. Here’s a look at where its Project Kuiper could soon be launching.
DiDi Fined $1.2B In China: Is The Company Finally Out Of Rough Waters?
China has fined ride-hailing app DiDi Global Inc – ADR (OTC: DIDIY) $1.2 billion for violating its data security law, cyber security law and personal information protection law. The decision has brought to conclusion a year-long investigation into the firm.
Alibaba, Baidu, Tencent Slide: Hang Seng Falls 1% As Bank Of Japan Rate Decision Eyed
Hong Kong’s benchmark Hang Seng Index opened in the red on Thursday as shares of Baidu Inc (NASDAQ: BIDU), Alibaba Group Holding Ltd. (NYSE: BABA<
This Day In Market History: Vietnam Stock Exchange Opens
Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date.
What Happened? On July 20, 2000, Vietnam opened its first stock exchange.
Where The Market Was: The Dow Jones Industrial Average closed the day at 10,843.87 and the S&P 500 traded at 1,495.57.
Asia Markets Surge Following Wall Street Earnings Boost — Japan, Australia Lead Pack
Asian markets surged Wednesday morning with Japan’s Nikkei leading the pack after Wall Street witnessed heavy buying, the day before, led by upbeat corporate earnings and expectations of gas supply resumption to Europe from Russia helped calm investor angst.