JD SHARE REPURCHASE
Wall Street indexes advance as Fed's Powell fuels hopes for rate cuts this year
In prepared remarks ahead of his congressional testimony, Powell said inflation had "eased substantially" since hitting 40-year highs in 2022, but that policymakers still needed "greater confidence" in its decline before rate cuts.
US stocks rise after Powell signals rate cuts this year
Wall Street's indexes rose as Federal Reserve Chair Jerome Powell expects a benchmark interest rate reduction. Inflation eased. Megacap growth and technology stocks rose. Treasury yields declined. AI darling Nvidia outperformed peers. U.S. private payrolls showed slightly less growth than expected.
Chinese retailer JD beats quarterly revenue estimates as heavy discounts buoy demand
China's shaky economic growth, high youth unemployment and lower wages for office workers have led to consumers tightening their purse strings, driving retailers like JD.com to employ heavy discounts to support sales.
Chinese shares jump as state investment fund pledges to expand share holdings to aid sagging markets
A Chinese state investment fund promised to expand its purchases of stock index funds, signaling Beijing's resolve to stabilize markets that have been sagging under heavy selling pressure from a property crisis and slowing economy.
Chinese state investment fund promises to expand share holdings to help support sagging markets
The market watchdog, the China Securities Regulatory Commission, welcomed the announcement, saying that share prices at a "historically low level" highlight their medium and long-term investment value.
Tencent shares slump as Prosus seen to step up selling
The internet company’s shares dropped 5.2% to HK$357.2 in Hong Kong, the most since late January, after news that Prosus planned to deposit an additional 96 million of shares into the city’s stock clearing system, typically a precursor to selling.
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Alibaba considers yielding control of some businesses in overhaul
Group CEO Daniel Zhang said the company's breakup into separate businesses will allow its units to become more agile and eventually launch their own initial public offerings (IPO). His comments come two days after Alibaba announced the largest restructuring in the company's history, which will see it change into a holding company structure with six business units, each with their own boards and CEOs.
Alibaba to decide on control over new business units after IPOs
Group CEO Daniel Zhang said the company's breakup into separate businesses will allow its units to become more agile and eventually list on their own.
Alibaba probe stirs worry about what's next for Chinese tech
Alibaba and its three largest rivals -- Tencent Holdings Ltd., food delivery giant Meituan and JD.com Inc. -- have shed nearly $200 billion in Hong Kong over the two sessions since Thursday.
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