The Hang Seng dropped 5% in late trade on Tuesday, skidding on concerns over regulatory action. Of the major tech companies, Meituan slumped 17%, Alibaba lost 9% and Tencent also fell 9%.
In this updated daily bar chart of JD, below, we can see that our advice on not being in a rush to buy was either luck or skill. JD has been hit with selling in recent days and is close to making a new low as the potential support in May is breaking. The daily On-Balance-Volume (OBV) line has been in a downtrend since November and tells us that sellers of JD have been more aggressive for several months now.
(Bloomberg) -- A rout in Chinese shares in the crosshairs of Beijing’s regulatory crackdown extended into the bond and currency markets Tuesday as unverified rumors swirled that U.S. funds are offloading China and Hong Kong assets.The speculation, which included talk that the U.S. may restrict investments in China and Hong Kong, circulated among traders in late afternoon in Asia, spurring a renewed bout of selling. The Hang Seng Tech Index, a gauge of many Hong Kong-listed Chinese stocks, plunge
Fewer microphones for Musk should mean fewer chances to lay potential landmines in Tesla's path.
Yahoo Finance’s Julie Hyman, Brian Sozzi, and Myles Udland break down the market action for Chinese stocks amid the country’s crackdown on tutoring companies.
(Bloomberg) -- Intel Corp., playing catch-up in semiconductor technology after losing its long-held dominance, vowed to become the industry leader again in 2025 by rethinking some of the fundamentals of how chips are made, and signed up rival Qualcomm Inc. as a manufacturing customer.Santa Clara, California-based Intel aims to step up innovation and is changing the approach used to measure progress in chip production, arguing that the current system gives competitors Taiwan Semiconductor Manufac
What happened Shares of Moderna (NASDAQ: MRNA) slipped 3.7% on Monday as of the market close. The decline appeared to be related to a report in The New York Times that said the U.S. Food and Drug Administration (FDA) requested that COVID-19 vaccine makers expand their clinical trials for children between the ages of five to 11 before seeking emergency use authorization (EUA).
Shares of Tonix Pharmaceuticals (NASDAQ: TNXP) were crashing 28.3% lower as of 10:24 a.m. EDT on Monday. The big decline came after Tonix announced on Friday following the market close that it is halting enrollment in a late-stage clinical study evaluating TNX-102 SL in treating fibromyalgia. Tonix made the decision to stop enrollment in its late-stage study of TNX-102 SL after the study's Independent Data Monitoring Committee (IDMC) completed an interim analysis.
Lucid Motors CEO Peter Rawlinson on today's big market debut, and what's next the EV maker.
Hundreds of Chinese companies are listed on U.S. markets. China is the world's most-populous nation and the second-largest economy with a booming urban middle class and amazing entrepreneurial activity. Often dozens of Chinese stocks are among the top performers at any given time, across an array of sectors.
Tilray CEO Irwin Simon talks with Yahoo Finance's Julie Hyman on the integration of Tilray and Aphria thus far, and his vision for the company and cannabis industry heading into a post-pandemic world.
Leading indices in Europe fell on Tuesday as shares of US-listed Chinese companies suffered their biggest two-day fall since the financial crisis in 2008.
Intel Corp. shares declined steadily in the extended session Monday, handing back daily gains, after the chip maker revealed its "road map" and repackaging plans for its future products.
Shares of Chinese e-commerce giant Alibaba Group Holding (NYSE: BABA) dropped 4% as of 10 a.m. EDT Monday, and given the headlines coming out of China last week regarding how the government is cracking down on tech companies left and right, this is not too surprising. As The Wall Street Journal reported over the weekend, the Chinese government is pressing tech giants Tencent Holdings (OTC: TCEHY) and Alibaba affiliate company Ant Group to help it develop a new "state-backed digital currency" -- i.e., a cryptocurrency -- to be dubbed the e-CNY (or electronic Chinese yuan). This is bad news for Alibaba because Ant operates the Alipay digital payments network already, and the emergence of a competing e-CNY brings "the risk of eroding the huge user base" that Alibaba and its affiliates have built up over the past decade.
The electric-vehicle startup is the latest company in the sector to consummate a blank-check merger.
What happened China's government announced a wide-ranging overhaul of its for-profit education sector over the weekend. Investors reacted by selling many education-related stocks, which resulted in brutal, broad-scale declines.
COVID-19 Delta variant concerns are overblown when it comes to the stock market and these stocks are now buys, Goldman Sachs says.
(Bloomberg) -- Bitcoin fell below $37,000 after briefly surpassing $40,000 following Amazon.com Inc.’s denial that its job posting for a digital currency executive meant that it will accept the token for payments this year.Earlier Monday, the job posting from the retail giant seeking an executive to develop the company’s “digital currency and blockchain strategy” had stirred questions among analysts over whether the move could eventually lead to Amazon accepting Bitcoin as a method of payment. S
(Bloomberg) -- Meituan has shed more than $60 billion of its market value over two frenetic trading sessions, after Beijing unveiled sweeping reforms against private-sector companies that darkened the outlook for the world’s No 2 economy.China’s top food delivery company slid a record 18% Tuesday in Hong Kong, on top of a 14% plummet the previous day. Spreads on Meituan’s dollar bond due 2030 rose 16 basis points to 232 basis points, set for the widest on record, Bloomberg-compiled data showed.T
(Bloomberg) -- A selloff in Chinese private education companies sent shockwaves through the equity market Monday, as investors scrambled to price in the growing risks from an intensifying crackdown by Beijing on some of the nation’s industries.Stocks slumped on the mainland and in Hong Kong, with the benchmark CSI 300 Index dropping 3.2% and the Hang Seng Index tumbling 4.1%, the most since May last year. Steep losses in education stocks in the wake of a sweeping overhaul spilled over into other