|Bid||324.800 x 0|
|Ask||325.000 x 0|
|Day's Range||324.800 - 330.200|
|52 Week Range||251.400 - 400.400|
|Beta (3Y Monthly)||1.53|
|PE Ratio (TTM)||34.22|
|Earnings Date||Nov 13, 2019|
|Forward Dividend & Yield||1.00 (0.30%)|
|1y Target Est||388.16|
The chief executive officer and co-founder of Gojek, an Indonesian start-up backed by China’s Tencent, will leave the ride-hailing company to join Joko Widodo’s cabinet as the president starts his second term. The appointment of Nadiem Makarim, a Harvard Business School graduate, would give Mr Widodo’s government a more reformist face and burnish its economic credentials as it struggles to spur growth, analysts said. Following Mr Makarim’s departure, Andre Soelistyo, Gojek group president, and Kevin Aluwi, co-founder, will become joint chief executives of the company, Gojek said.
(Bloomberg) -- Indonesian President Joko Widodo has offered the 35-year-old co-founder of the country’s biggest startup, Gojek, a position in his new cabinet, affirming the importance of the internet sector in propelling Southeast Asia’s largest economy.Nadiem Makarim on Monday told reporters he has accepted a cabinet post after resigning with immediate effect as chief executive officer of the ride-hailing giant he started nine years ago. That leaves the $10 billion startup, one of Southeast Asia’s largest, without its most visible leader at a time it’s pursuing funding to compete with arch-rival Grab Holdings Inc. Gojek said President Andre Soelistyo and co-founder Kevin Aluwi will take the helm as co-CEOs. The company will outline its next steps in the coming days, Gojek said in an emailed statement.Widodo, commonly known as Jokowi, will specify the role to be taken up by Makarim in a later announcement. Makarim’s appointment -- in line with the Indonesian president’s stated desire to include professionals and millennials in his second-term team -- shouldn’t disrupt operations at Gojek given its deep bench of experienced managers.“This means President Jokowi’s new cabinet will be filled with young people with ability to execute,” said Willson Cuaca, managing partner of East Ventures, one of the most active Indonesian-focused venture capital firms. “It shows that Indonesia appreciates what they’ve done for the country. For Gojek, it’s reached a point that even if Nadiem resigns, it’s business as usual.”The Gojek co-founder hails from a prominent Indonesian family. His grandfather was part of the delegation that won the country’s independence from the Netherlands in a 1949 conference at The Hague.“Since the beginning, my mission in Gojek has been to display Indonesia on the world’s stage,” Makarim told reporters when he announced his resignation in Jakarta on Monday. “So, this is a continuation of that mission, but this is certainly for the state and within a bigger scale.”Read more: Jokowi Eyes $7 Trillion Indonesia Economy With New CabinetGojek is the largest player in an Indonesian internet industry that’s booming as smartphone adoption there explodes. The world’s fourth most populous country with 264 million people has produced other unicorns including Tokopedia and Bukalapak, which are driving e-commerce and the digital economy more generally.Makarim started Gojek in 2010 as a call center arranging couriers in Jakarta. At that early stage, everything was done manually -- employees called motorbike drivers one by one until someone accepted an order -- and Makarim had to work at other startups in order to sustain Gojek.It was only in 2014 that the Gojek chief decided to introduce a mobile app, with backing from private equity investor Northstar Group. When that debuted in January 2015, the service was so popular that Gojek couldn’t cope with demand, Makarim said in an interview in 2016.Gojek today has more than 2 million drivers and 400,000 merchants, while its apps have been downloaded more than 155 million times in Southeast Asia. The company counts Google, JD.com Inc. and Tencent Holdings Ltd. among its investors and is seen as an icon for aspiring Indonesian entrepreneurs.Makarim was selected as one of 50 people who defined global business in 2018 by Bloomberg Businessweek.Southeast Asia’s Internet Economy to Top $100 Billion This YearTo contact the reporters on this story: Yoolim Lee in Singapore at firstname.lastname@example.org;Viriya Singgih in Jakarta at email@example.comTo contact the editors responsible for this story: Edwin Chan at firstname.lastname@example.org, ;Thomas Kutty Abraham at email@example.com, Vlad SavovFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
FT subscribers can click here to receive FirstFT every day by email. Boris Johnson will make a renewed attempt on Monday to win parliament’s backing for his Brexit deal and overcome setbacks at the weekend ...
When it was revealed last summer that Google had been working on a search engine for the Chinese market called “project dragonfly”, Baidu chief executive Robin Li responded with fighting words. “In 2010, when Google left China, its market share was falling and Baidu’s market share had already passed 70 per cent,” Mr Li wrote on social media platform WeChat.
(Bloomberg) -- U.S. lawmakers from both parties slammed Apple Inc. and Chief Executive Officer Tim Cook on Friday for “censorship of apps” at the “behest of the Chinese government.”Senators Ted Cruz, Ron Wyden, Tom Cotton, Marco Rubio and Representatives Alexandria Ocasio-Cortez, Mike Gallagher and Tom Malinowski expressed concern about the removal of an app that let Hong Kong protesters track police movement in the city.“Apple’s decisions last week to accommodate the Chinese government by taking down HKmaps is deeply concerning,” they wrote in a letter to Cook, urging Apple to “reverse course, to demonstrate that Apple puts values above market access, and to stand with the brave men and women fighting for basic rights and dignity in Hong Kong.” Apple didn’t respond to a request for comment on Friday.Apple removed the HKmap.live app from the App Store in China and Hong Hong earlier this month, saying it violated local laws. The company also said it received “credible information” from Hong Kong authorities indicating the software was being used “maliciously” to attack police. The decision, and the reasoning, was questioned widely.Cook, in a recent memo to Apple employees, said that “national and international debates will outlive us all, and, while important, they do not govern the facts.” On Thursday, the CEO met with China’s State Administration for Market Regulation head Xiao Yaqing in Beijing to discuss consumer-rights protection, boosting investment and business development in the country, according to a statement from the Chinese regulator.The Cupertino, California-based company isn’t the only one referenced in Friday’s letter. The lawmakers mentioned recent headlines involving the National Basketball Association and Activision Blizzard Inc., a video game company that suspended a professional game player for supporting the Hong Kong protests.“Cases like these raise real concern about whether Apple and other large U.S. corporate entities will bow to growing Chinese demands rather than lose access to more than a billion Chinese consumers,” the lawmakers wrote.They also slammed Apple for removing other apps, including VPN apps that helped Chinese people get around the government’s online censorship. The letter said Apple has “censored” at least 2,200 apps in China, citing data from non-profit organization GreatFire. Apple says on its website that it removed 634 apps in the second half of last year globally due to legal violations.The letter implied that Apple made the removal decisions to maintain its huge business in China and appease the government. Greater China was Apple’s third-largest region by revenue last year, generating more than $50 billion in revenue.Apple is one of the rare tech companies that operates in China, with rivals like Google and Facebook Inc. hardly operational in the market. China’s importance to Apple means the company has to balance its own values with following local laws.In the past, the company has pulled the Skype and New York Times apps from its App Store in China. More recently, it removed a Taiwanese flag emoji for users in Hong Kong and Macau and was criticized for sending some browsing data to China’s Tencent Holdings Ltd. as part of a privacy feature.To contact the reporters on this story: Mark Gurman in San Francisco at firstname.lastname@example.org;Ben Brody in Washington, D.C. at email@example.comTo contact the editors responsible for this story: Tom Giles at firstname.lastname@example.org, Alistair Barr, Robin AjelloFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Chinese-owned video-sharing app TikTok, which has exploded in popularity globally, has recently come under fire for censoring content that Beijing deems unacceptable.
OTCQX: AXNVF) announces that the Company has commenced the build-out of a prototype of 'Rising Fire Mobile', the multi-platform mobile version of Axion's 'Rising Fire' PC video game that is currently available on Tencent Holdings Limited (0700.HK)(TCEHY)(" Tencent ") WeGame platform. Given the immense success of mobile titles such as Tencent's 'PUBG Mobile' and Garena's 'Free Fire' in the Asian video game market, Axion is producing a prototype of Rising Fire Mobile in preparation of an expected commercial expansion of the Rising Fire IP.
(Bloomberg) -- Ant Financial Services Group is seeking a syndicated loan of up to $3.5 billion at a lower rate, joining other Chinese technology giants in their bid to slash debt costs.The company is in talks with lenders for a $2.5 billion financing that comes with a $1 billion greenshoe option, according to people familiar with the matter. The price talk for the three-year loan margin is less than 100 basis points over Libor, said the people, who are not authorized to speak publicly and asked not to be identified. The company didn’t immediately respond to emailed requests for comment.Billionaire Jack Ma’s Ant Financial last came to the syndicated loan market in 2017, raising a $3.5 billion three-year facility that pays a margin of 135 basis points over Libor, according to Bloomberg data. The latest funding plan comes amid a refinancing spree for Asian tech firms as they take advantage of abundant liquidity from lenders in the wake of fewer loan deals in the region.Smartphone maker Xiaomi Corp. is in talks for a $1 billion refinancing at its lowest rate after Chinese social media giant Tencent Holdings Ltd. clinched its biggest and cheapest dollar-based facility in August. Ant Financial’s affiliate Alibaba Group Holding Ltd. completed an amendment and extension of its $4 billion loan in May.Ant’s new loan, if completed, will be used for general corporate purposes, the people said. The company is formally known as Zhejiang Ant Small & Micro Financial Services Group Co.\--With assistance from Apple Lam and Carol Zhong.To contact the reporters on this story: Annie Lee in Hong Kong at email@example.com;Lulu Yilun Chen in Hong Kong at firstname.lastname@example.orgTo contact the editors responsible for this story: Neha D'silva at email@example.com, Chan Tien HinFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The move means PayPal is the only foreign company to hold licences to provide domestic and cross-border web and mobile payment services in China, where Rmb277tn ($39tn) of mobile payments were made last year, according to the People’s Bank of China.
(Bloomberg) -- Riot Games, which spent the past decade exploiting one product, is finally looking to expand.The Los Angeles-based creator of League of Legends said Tuesday it’s working on six new games. They include Wild Rift, a version of its flagship title for mobile and console devices that will debut next year, and Legends of Runeterra, an online card game featuring the company’s universe of characters.The bigger portfolio, which will include shooter, fighting and adventure titles, means more competition for giants such as Activision Blizzard Inc. and Electronic Arts Inc. It’s also a growth opportunity for Riot Games’ parent, Chinese internet giant Tencent Holdings Ltd., which has seen its game revenue and online ad businesses in China soften.League of Legends generated $1.4 billion in revenue last year, according to Nielsen’s SuperData Research. Over 100 million people play the game, which takes place in a fantasy world of battling demigods and dragons. At one point in August, more than 8 million were playing at once, the company said, setting a worldwide record for computer games.That makes this a good time to expand, according to company co-founder Marc Merrill.“League of Legends started as this tiny, kind of janky game, and has evolved into this global phenomenon,” Merrill said in an interview. “‘We view the next 10 years, all these games coming, as sort of the proof point. Is this crazy idealism that led to this company? Is that what people really want?”Several of the new games will be based in the League of Legends universe. A second, new mobile game is a spinoff of a current League of Legends mode called Teamfight Tactics, where players battle seven opponents on a rotating basis. The company is also creating an animated video series featuring its characters, for an outlet that has yet to be determined.Riot has taken its time developing new products to create games that differ from its lone product and those of competitors, Merrill said.Unlike League of Legends, which can take more than an hour to play, the mobile versions are designed to run 20 minutes. The shooting game is being engineered to thwart aimbots -- outside software that gives an unfair advantage to players who use them.The new-product announcements, made during an hourlong webcast, are part of a 10-year anniversary celebration for League of Legends. The bash includes matches featuring some of the game’s original players, special gifts for online fans and the introduction of a new warrior, Senna, whom fans know since she’s been trapped in a lantern in the game for years.Riot Games was founded in 2006 by Merrill and Brandon Beck, two former University of Southern California classmates. They were dissatisfied with the industry model of releasing new versions of games once a year.They developed a title that’s free to play and updated regularly with new characters and experiences. Riot makes money when players purchase gear in the game, such as costumes for characters. Prices range from $4 to $25.In League of Legends, two teams of five players compete to destroy the other side’s crystal-shaped nexus. The characters, which have their own powers, battle each other and waves of foot soldiers, called minions.In Legends of Runeterra, which enters beta testing this month, players won’t be required to purchase packs of random cards, as they do in other games, such as Activision’s Hearthstone. Instead, Runeterra will be free to play, with contestants choosing what to purchase.“Unless we’re going to do something that we think is really going to elevate the experience, let’s not bother to do it,” Merrill said of Riot’s philosophy.Merrill and Beck sold the company to Tencent in a pair of transactions that began in 2011 because their original investors wanted out and the two didn’t want to pursue a public offering. Merrill and Beck share management decisions, along with Chief Executive Officer Nicolo Laurent, who’s been there for 10 years. Merrill describes himself as more of the product developer, while Beck is the corporate strategist.“We would have made a terrible public company,” Merrill said. “We are pretty idealistic. We’re also very long-term or have attempted to be very long-term.”All has not always been sunny with Tencent. After unsuccessfully prodding Riot to launch a mobile game, Tencent in 2017 introduced its own, Arena of Valor, with characters that look like those in League of Legends.Merrill describes that as a “trying time in the relationship,” but adds that the parties have since reconciled.Today, Riot has more than 2,500 employees and two dozen offices around the world. Its headquarters are a triumph of nerd whimsy, with giant statues of League of Legends characters and a piratey coffee shop named after one of the cities in the game, Bilgewater Brews.Riot is a pioneer in esports, where fans watch pros play online and in arenas. Two years ago, the company sold 10 North American League of Legends franchises for $10 million each. Its annual World Championship, held in November, is considered the Super Bowl of esports, with fans selling out stadiums.Merrill said it’s too soon to say if any of the new games will turn into professional competitions. “We don’t decide if something is an esport, the community does,” he said. On Friday, the company weighed into the controversy over Hong Kong protests, saying its esports broadcasters and players must refrain from discussing politics and other sensitive topics.In recent months, the company has also wrestled with discontent among some Rioters, as employees call themselves. Over the past year, a number of former female employees sued the company, alleging gender discrimination in pay and promotion, and sexual harassment. In May, dozens of employees demonstrated in the company quad over the “bro-like” culture and clauses in their contracts that require them to settle workplace complaints through arbitration.The company settled the suits in August for undisclosed terms. It has also added a chief diversity officer and said it would focus on greater workplace inclusion.Merrill said the past year was a “challenging period” for him and the company, but also a moment of reflection and change.“There’s a lot of defining moments as companies evolve and grow,” he said. “The optimist in me says that this will be one for Riot.”To contact the reporter on this story: Christopher Palmeri in Los Angeles at firstname.lastname@example.orgTo contact the editors responsible for this story: Nick Turner at email@example.com, Rob Golum, Sam HallFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Today we'll evaluate Tencent Holdings Limited (HKG:700) to determine whether it could have potential as an investment...
Theoretically, it was the news that Wall Street was anxiously seeking. After a protracted trade war between the U.S. and China that left neither side as the clear victor, investors were ready to move forward with a productive relationship. Of course, one of the biggest beneficiaries would be China-based investments, such as JD.com (NASDAQ:JD) and JD stock.Source: testing / Shutterstock.com Following a series of tense negotiations between American and Chinese delegates last week in Washington, President Donald Trump made an announcement: critically, the two sides have agreed to a temporary truce, which he has termed a "phase one deal." According to a CNBC report:As part of that deal, China will address intellectual property concerns raised by the U.S. and buy $40 billion to $50 billion worth of U.S. agricultural products. In exchange, the U.S. agreed to hold off on a tariff hike set for this week.InvestorPlace - Stock Market News, Stock Advice & Trading TipsAgain, on surface level, the news bolsters the argument for JD stock. Additionally, the apparent warming of relations opens the possibility of comebacks for major Chinese companies, such as Alibaba Group (NYSE:BABA) and Tencent (OTCMKTS:TCEHY). At least as far as stakeholders of JD.com are concerned, shares moved higher on last Friday's session, as well as on Monday. * 7 Tech Stocks You Should Avoid Now But is this announcement enough to get those on the sidelines to believe in JD.com? Despite the positive implications of this truce, the markets were unimpressed, turning in a muted performance.Ultimately, I believe this was due to a lack of credibility. As we see with the wild gyrations with JD stock since spring of this year, trade negotiations have been all talk and little meaningful action. Based on the headlines, I wouldn't chase JD.com here. JD.com Is Stuck in a Cloud of UncertaintyOver the years, Chinese stocks have generated considerable interest stateside. However, the one critical factor in China's massive growth is the U.S. As the world's largest exporter, China requires a robust relationship with American corporations and consumers.Of course, with a more lasting trade deal, the optics for JD.com stock improve significantly. But what's telling is that only one side - the Trump administration - expresses definitive optimism. According to China Daily, the country's official state-owned English-language newspaper:While the negotiations do appear to have produced a fundamental understanding on the key issues and the broader benefits of friendly relations, the Champagne should probably be kept on ice, at least until the two presidents put pen to paper.That doesn't sound like a trade deal is imminent. In my view, the Chinese government is leery about President Trump's seemingly erratic behavior. At least in this regard, I don't blame them. I'm also not surprised that JD stock really hasn't moved since the end of March.Now, it's true that China has attempted to diversify its economy. In recent years, the government has introduced monetary, structural and fiscal reform to help transition an export-driven economy into a consumption-drive one. On paper, this should give China the edge in this current geopolitical conflict.But in order for this strategy to work effectively, the Chinese consumer must be strong. And that's exactly what it's not, according to Victor Shih, Ph.D., associate professor of political economy at the University of California, San Diego. In an email correspondence, Shih described that the average Chinese households "are trapped between much higher food prices and uncertainties about future income."Such a negative dynamic will put off discretionary spending. Naturally, this is a net negative for JD stock. Avoid JD Stock Until a Deal Is DoneMoving forward, we have two basic ways to play JD.com stock: gamble on the signing of a permanent trade deal or stay on the sidelines until you know for sure.If you're not a professional trader, you're better off waiting. For one thing, Trump is an unpredictable world leader. His recent actions in Syria angered Christian evangelicals, who largely represent ardent support for his administration.That shows you that Trump is a "my way or the highway" type of leader. And gambling on that is always a tough business.Second, I don't like the variables that the upcoming election poses for the trade war. As I've argued before, the president cannot look weak to his conservative base. Wavering on China, an issue which has dogged both the Obama and Bush administrations, carries significant risk.Therefore, I see more chances of things going badly for JD stock than the other way around. The smart move is to wait for this noise to fade, if it fades at all.As of this writing, Josh Enomoto did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Beverage Stocks to Buy Now * 10 Groundbreaking Technologies Created by Universities * 5 Semiconductor Stocks Worth Your Time The post JD.com Needs a Real Deal Between the U.S. and China appeared first on InvestorPlace.
When it comes to diversified tech giant Alibaba (NYSE:BABA), being an investor comes with its share of harassment. Nevertheless, it's time to watch for a capitalist opportunity now that a key battle line has been crossed.Source: zhu difeng / Shutterstock.com For U.S. investors, profiting in Chinese stocks has been more challenging these days. Many large-cap stocks and industry leaders in China ranging from Tencent (OTCMKTS:TCEHY), to China Mobile (NYSE:CHL), China Life Insurance Company (NYSE:LFC) or China Petroleum & Chemical Corporation (NYSE:SNP) have produced lackluster or negative returns in their U.S.-listed American Depository Receipts. And certainly the trade war has been a drag on stock performance.But Alibaba stock has been different. That's not to say it's been easy. Still, the fact is BABA has gained about 23% in 2019. The return is more than the S&P 500's climb of 18% and towers above U.S. tech giant Amazon's (NASDAQ:AMZN) 13% year-to-date increase.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Why is Alibaba Stock Different?So, what is the deal with shares of BABA? Alibaba stock has and continues to defeat investors' fears within this macro-charged environment. Most recently BABA stock toppled Street profit and sales forecasts in mid-August. * 7 Beverage Stocks to Buy Now To be certain, there's always going to be something or someone trying to get investors to back away from buying Alibaba despite its successes. For some that might include recent reports the U.S. is considering delisting Chinese stocks. And that threat can't be entirely ignored. Or maybe fake merchandise sales in the past or allegations of accounting shenanigans have prevented investors from taking action in BABA stock?Okay, so there's plenty of reasons not to buy BABA shares. But obviously those arguments don't include price performance. Most important, Alibaba stock continues to come out on top despite headline warnings and a challenging market for Chinese stocks. Now and with BABA crossing an important battle line on the price chart, it's time to put shares on the radar for a well-timed purchase. BABA Stock Weekly ChartAs noted above, capturing BABA stock's gains of around 23% hasn't been a walk in the park. And as expressed, bad press isn't likely to just disappear. The better news is I also don't believe Alibaba's impressive rally is finished. I see a solid entry for a risk-adjusted purchase of BABA stock.The weekly chart shows that since failing from a breakout attempt to new highs last year, Alibaba stock has established a corrective symmetrical triangle base. It's not perfectly formed with clear-cut pivots to define the pattern, but the essence of this bullish formation is there.Following last week's price action, shares of Alibaba are in position to confirm a bullish engulfing candlestick which puts BABA stock back above the 50% retracement level of the base, as well as the triangle's apex line. With stochastics in a pullback set-up in neutral territory and on the verge of signaling a bullish crossover, the situation looks all the more promising. How to Trade AlibabaI'd recommend buying Alibaba shares above $174.88. This entry waits for the BABA stock price to confirm last week's candlestick and reinforces the bias for continued upside in the bullish triangle pattern. If BABA rallies, a breakout through angular resistance near $185 might be watched for adding shares on strength and before looking to take partial profits in-between $195-$215.For containing downside exposure in Alibaba stock, I'd keep an eye on the weekly stochastics to continue to support the position and set a modified stop-loss beneath $165 for a stronger risk-adjusted exit that offers sufficient evidence off and on the price chart for closing the trade.Investment accounts under Christopher Tyler's management do not currently own positions in any securities mentioned in this article. The information offered is based upon Christopher Tyler's observations and strictly intended for educational purposes only; the use of which is the responsibility of the individual. . For additional market insights and related musings, follow Chris on Twitter @Options_CAT and StockTwits. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Beverage Stocks to Buy Now * 10 Groundbreaking Technologies Created by Universities * 5 Semiconductor Stocks Worth Your Time The post Alibaba Stock is a Strong Buy Now -- More Than Ever Before appeared first on InvestorPlace.
(Bloomberg) -- PT Tokopedia, the online marketplace backed by the SoftBank Vision Fund and Alibaba Group Holding Ltd., has begun discussions with potential investors for what’s likely to be its final private funding round before a dual stock market listing.Indonesia’s largest online mall is considering listing shares at home as well as in another as-yet-undecided location, Chief Executive Officer William Tanuwijaya told Bloomberg News. But he wouldn’t specify a timetable for an initial public offering, citing uncertain market conditions in a trade war.Tokopedia, the country’s most valuable startup after ride-hailing giant Gojek, is focused on its home market for now but an overseas listing should raise its profile while attracting new investors. Tanuwijaya said the startup he co-founded 10 years ago is aiming to break even next year. Its gross merchandise value should triple to as much as 222 trillion rupiah ($16 billion) in 2019, he said. Revenue is growing faster than GMV, while its community of sellers rose to 6.4 million from about 5 million last year, he added.“Dual-listing is most likely to be our approach” because the Indonesia-focused e-commerce site wants its consumers and sellers to also become shareholders, the 37-year-old founder said in an interview in Jakarta. “We are now in the process of picking the right partners who believe in our vision and mission.”SoftBank Vision Fund, Alibaba Lead $1.1 Billion Tokopedia RoundTokopedia is gunning for a listing at a time many of its peers around the world are tapping the brakes. Uber Technologies Inc.’s disappointing debut and the chaos surrounding WeWork’s botched IPO have put startups under pressure to prove their business model can lead to revenue and profit growth. The co-founders of Grab, Southeast Asia’s most valuable startup and another of SoftBank’s portfolio companies, have said they’re not planning an IPO any time soon.With a looming risk of a global recession, it’s crucial for large platforms like Tokopedia to establish a sustainable business by generating profits, said Chatib Basri, a former finance minister and senior lecturer at the University of Indonesia. “When there is a disruption to a company as big as Tokopedia, which has 90 million monthly active users, it could result in a systemic effect,” he said.Tokopedia’s advantage is its presence in an Indonesian e-commerce market projected to expand from $21 billion in 2019 to $82 billion by 2025, according to a study by Google, Temasek Holdings Pte and Bain & Co. Unlike peers Alibaba’s Lazada and Tencent Holdings Ltd.-backed Shopee, which operate across Southeast Asia, Tokopedia has chosen to expand deeper into rural areas of Indonesia, an archipelago of more than 17,000 islands where online shopping is still relatively under-developed.“Indonesia’s e-commerce penetration is still 4% to 5%, so the room for growth is still big,” Tanuwijaya said.\--With assistance from Viriya Singgih.To contact the reporter on this story: Yoolim Lee in Singapore at firstname.lastname@example.orgTo contact the editors responsible for this story: Edwin Chan at email@example.com, Vlad SavovFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Baidu controls 75% of internet search in China but it's looking for new avenues of growth. Here is what the fundamentals and technical analysis say about buying BIDU stock now.
Monday may shape up to be a good day for the makers of the games that compete with "Fortnite" for players’ attention. With Epic Games' "Fortnite" offline as part of the publicity over its end to season 10, and with season 11 not having started yet, anyone wanting to do some online gaming Monday — on the federal holiday of Columbus Day when many were home from work or school — had to play something else. How much that will benefit other video game companies, if at all, especially over the long run, is hard to say.
(Bloomberg) -- Apple Inc. came under fire on Monday for sending web browsing data, including IP addresses, to China’s Tencent Holdings Ltd., the latest criticism of how the company operates in the world’s most populous nation.For about two years, Apple has been sending data to Tencent as part of an iPhone and iPad security feature that warns users if a website is malicious or unsafe before they load it. The U.S. company checks addresses against an existing list of sites known to be problematic. That list is maintained by Tencent for users in mainland China and by Google for other regions, including in the U.S.In newer versions of Apple’s iOS operating systems, the company says this feature “may also log your IP address,” potentially providing Tencent, a Chinese internet conglomerate with government ties, data such as a user’s location. The safe browsing feature with Google was first added to iOS in 2008, but it was expanded to include Tencent with iOS 11 in 2017. Apple updated its description of the feature in more recent versions of iOS.“We deserve to be informed about this kind of change and to make choices about it,” Matthew Green, a cryptographer and professor at Johns Hopkins University, wrote in a blog post. “Users should learn about these changes before Apple pushes the feature into production, and thus asks millions of their customers to trust them.”This isn’t the first time Apple has been criticized for working with a Chinese company to handle local data. In 2018, Apple partnered with Guizhou-Cloud Big Data to store iCloud data locally for users in mainland China.More recently, Apple has been scrutinized for appeasing China. BuzzFeed recently reported that Apple told creators of shows for its TV+ streaming service to avoid portraying China in a poor light. The company recently removed the Taiwanese flag from the emoji keyboard on devices running in Hong Kong and Macau, after earlier pulling it from Mainland China. It also came under fire for removing a maps app in Hong Kong that the developer said was designed to help users avoid areas of protest. Apple said it was following local laws in both instances.Apple said in a statement that the feature protects user privacy and safeguards people’s data. The checks occur on the devices, and the actual web addresses are never shared with Tencent and Google, the safe browsing providers. The feature is on by default, but can be switched off, Apple also said. The IP address of a user’s device is shared when a website is found to be suspicious and a warning is sent.Some users were concerned that data would be sent to Tencent globally because the firm is mentioned even on iPhones outside of China. Apple will likely clarify this in a future version of iOS.The feature can be disabled under the Privacy & Security section in the Settings app by tapping the “Fraudulent Website Warning” toggle. If a user does that, IP addresses won’t be shared, but Apple also won’t be able to check websites against Tencent’s or Google’s lists.(Updates with more comments from Apple in seventh paragraph.)To contact the reporter on this story: Mark Gurman in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: Tom Giles at email@example.com, Alistair Barr, Andrew MartinFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Xilinx and Israel's InMode rallied, and Nike stock led the Dow Jones today, but stocks edged lower as a China trade deal seemed less certain.
SHANGHAI/BEIJING, Oct 14 (Reuters) - U.S. games publisher Blizzard Entertainment has reduced the punishment dealt out to a Hong Kong-based Hearthstone esports gamer for his public support of pro-democracy protests after its decision sparked controversy among players and the public. Blizzard Entertainment, a subsidiary of Activision Blizzard which is partly backed by Chinese gaming giant Tencent Holdings, said last week that it would suspend the player Chung "blitzchung" Ng Wai from competition for a year and strip him of prize money after he called for the liberation of Hong Kong in a post-game interview.
New energy vehicle sales in China, the world’s largest car market, fell for the third month in a row as a slowdown in the overall market expands to electric vehicles following cuts in government subsidies. Sales of NEVs — which include hybrids and fully electric cars — sank 34.2 per cent in September from a year earlier, according to the China Association of Automobile Manufacturers. Beijing has made expanding China’s NEV market a strategic goal and has provided strong policy and subsidy support to both buyers and manufacturers, sparking a spike in the production of cheap, low-quality electrified cars.
Oct.15 -- Apple Inc. came under fire on Monday for sending web browsing data, including IP addresses, to China’s Tencent Holdings Ltd., the latest criticism of how the company operates in the world’s most populous nation. Bloomberg's Selina Wang has the details.
Oct.14 -- Apple is under attack for sending web browsing data, including IP addresses, to China’s Tencent. This is the latest criticism of how the company operates in this crucial market. Bloomberg’s Mark Gurman reports on “Bloomberg Daybreak: Asia.”