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Alibaba stock was trading sharply lower today despite posting record Singles Day sales. However, China’s clampdown on big tech companies coupled with the sell-off in US tech stocks seems to be pressurizing Alibaba stock. According to Bloomberg, Chinese tech giants including the likes of Alibaba, Baidu, and Tencent have lost over $260 billion in market…
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Andrew Tilton, chief Asia economist at Goldman Sachs is predicting a faster economic recovery in Asia as the region has better controlled the coronavirus pandemic. Should you invest in Asia, and what are the instruments through which you can invest in Asian stock markets? Goldman Sachs on Asia “We think Asia’s really the best positioned…
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Apple stock fell 4.2% on Wednesday and shares are trading down 1.4% in pre markets today. The stock is now down over 22% from its 52-week highs. Should you buy it now after the crash? Apple stock is currently in a bear market territory, having fallen over 20% from its recent highs. However, it is…
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Gold prices could top $4,000 per ounce level over the next three years, according to analysts — but they add two factors could stop the yellow metal’s surge. Gold prices have surged during the pandemic rising almost 36% for the year. Last week, it breached its all-time highs that it hit in 2011 and rose…
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Huawei, the global leader in 5G technology, has passed Samsung to become the world’s largest smartphone company in the second quarter. While customers outside China might be wary of Huawei, strong growth in China helped Huawei claim the leading spot among global smartphone companies. Huawei shipped 55.8 million devices in the second quarter of 2020,…
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Huawei reported its slowest growth in seven years on Tuesday, as the UK kicked the Chinese telecoms giant off its 5G network. Huawei reported revenues of $64.23bn in the first half of 2020 but the year-over-year growth of 13.1%, while looking impressive on a standalone basis, was the lowest since the first half of 2013….
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As gold prices remain on an upward trend, Bank of America says the rise in gold prices is set to test the 2012 highs of $1,790-1,805/oz in the next week. Gold’s recent rice comes after months of escalating political and economic instability due to the resurgence of coronavirus cases, particularly in the US as well…
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The US trade representative is launching an investigation into Austria, Brazil, the Czech Republic, the European Union, India, Indonesia, Italy, Spain, Turkey and the United Kingdom for implementing or planning to put forward new taxes on digital giants. The move will put pressure on other nations planning higher duties on tech giants — such as…
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China’s offshore yuan tested a record low as it faces worsening tensions with the US over Hong Kong and the source of the coronavirus pandemic, but stronger-than-expected fixing from Bejing signaled that it wants to avoid rapid depreciation. The currency rose 0.1% to 7.1699 a dollar as of 2:30 p.m. in Hong Kong. The People’s…
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Rising trade tensions between the US and China could mean a major retreat for the price of Bitcoin. The two countries are locked in a battle over the origin of the coronavirus with US President Donald Trump last week warned that the signed phase one trade deal signed in January “doesn’t feel the same to…
