Month: July 2020

(Bloomberg) — Semiconductor Manufacturing International Corp. is preparing to raise as much as $7.5 billion via mainland China’s largest stock sale in a decade, a big cash infusion for a chipmaker Beijing’s counting on to reduce reliance on American technology.China’s top homegrown chipmaker could sell as much as 53.2 billion yuan of shares, according to a Sunday filing with the Shanghai Stock Exchange. In May, analysts estimated a Shanghai listing could fetch somewhere in the $3 billion range. The offering would be the largest since Agricultural Bank of China Ltd.’s 68.5 billion yuan initial public offering in 2010. SMIC’s Hong …read more […]

Jul.06 — France already has a new prime minister, but the rest of the government is expected to be announced today, according to AFP citing the presidency. Bloomberg’s Caroline Connan reports on “Bloomberg Markets: European Open.” …read more […]

Jul.06 — France already has a new prime minister, but the rest of the government is expected to be announced today, according to AFP citing the presidency. Bloomberg’s Caroline Connan reports on “Bloomberg Markets: European Open.” …read more […]

…read more […]

Jul.06 — Freddie Lait, chief investment officer at Latitude Investment Management, discusses the current state of markets and where he sees them heading. He speaks on “Bloomberg Markets: European Open.” …read more […]

(Bloomberg) — Hong Kong stocks joined the rest of the world in bull market territory Monday, after a more than $1.1 trillion rebound.The Hang Seng Index jumped 3.8%, extending its rally from March’s low to 21%. Tencent Holdings Ltd. and Hong Kong Exchanges & Clearing Ltd. have contributed 42% of the benchmark’s gains during the period, according to data compiled by Bloomberg. Sino Biopharmaceutical Ltd., the gauge’s biggest gainer of 2020 as of June 30, and Tencent were the only two Hang Seng members to fall Monday while underperforming sectors in Hong Kong — including autos, commodities and financials — …read more […]

Rains triggered floods and landslides in a part of southern Japan that hasn’t had many reported coronavirus cases. WSJ’s Peter Landers describes how authorities are working to make sure the rescue effort doesn’t accidentally spread the virus. Photo: Koji Harada/Kyodo News/Associated Press …read more […]

(Bloomberg) — Saudi Arabia raised pricing for August oil shipments to Asia, the U.S. and northern Europe amid signs that energy demand is continuing to recover from its coronavirus-triggered collapse.The move comes as the world’s biggest crude exporter pushes other major producers to join it in cutting supply to re-balance the market.State producer Saudi Aramco lifted the official selling price for flagship Arab Light crude to customers in Asia, its biggest market, for a third-straight month, though by less than traders expected. The grade will sell in Asia at $1.20 a barrel above the Middle East benchmark, compared with a …read more […]

(Bloomberg) — U.S. stock index futures advanced Monday as investors focused on the prospects for an expansion of economic stimulus to help counter the impact of the spreading global pandemic.September contracts on the S&P 500 rose 1.1% as of 8:11 a.m. in London. Futures on the Dow Jones Industrial Average climbed 1.3% and those on the Nasdaq 100 Index added 1.2%. U.S. financial markets were closed on Friday before Independence Day on July 4.The Stoxx Europe 600 Index jumped 1.7%, with all sectors trading in the positive territory.“With U.S. states continuing to post record cases into the July 4 weekend …read more […]

(Bloomberg) — The dramatic moves in Chinese stocks over the past week are inviting comparisons with a bubble that burst spectacularly five years ago.In many ways, the pace of gains matches the market’s melt-up that started in the final weeks of 2014. The CSI 300 Index has now added 14% in five days, the most since December that year. Shares of brokerages are surging as daily turnover continues to exceed 1 trillion yuan, indicating increasing participation from retail investors. A gauge of momentum on the CSI 300 is also the strongest since late 2014. Monday’s more-than-5% gain had only happened …read more […]

Musk has often taken umbrage at short-sellers and in 2018 sent a box of shorts to hedge fund owner and Tesla short-seller David Einhorn. The “Short Shorts” on the Tesla shop website feature gold trim and “S3XY” in gold across the back, which also happens to be formed from Tesla model names. …read more […]

Musk has often taken umbrage at short-sellers and in 2018 sent a box of shorts to hedge fund owner and Tesla short-seller David Einhorn. The “Short Shorts” on the Tesla shop website feature gold trim and “S3XY” in gold across the back, which also happens to be formed from Tesla model names. …read more […]

Jul.06 — Gautam Bambawale, former Indian Ambassador to China and Bhutan, talks about the political tensions between India and China following the bitter border standoff in the Himalayan region. Bambawale, who was also India’s High Commissioner to Pakistan, speaks with Rishaad Salamat and Haslinda Amin on “Bloomberg Markets: Asia.” …read more […]

Jul.06 — Abraar Karan, physician at Harvard Medical School as well as at Brigham and Women’s Hospital, talks about the coronavirus pandemic. Global cases topped 11.4 million, deaths exceed 533,000, and the World Health Organization reported a one-day high in infections over the weekend. Karan speaks with Haslinda Amin and Yvonne Man on “Bloomberg Markets: Asia.” …read more […]

Jul.06 — Saehoon Kim, head of fuel cell center and senior vice president at Hyundai Motor Group, talks about the South Korean automaker’s production of hydrogen fuel-celled vehicles and shipments of trucks to Switzerland. He speaks with Yvonne Man and Haslinda Amin on “Bloomberg Markets: Asia.” …read more […]