Amid a massive foreign capital exodus, Chinese listed companies have been buying back their own shares and incurring huge losses. More than 1,300 listed companies and various equity funds in China have made frequent share buybacks in China A-shares and Hong Kong stocks this year, with a sharp peak at the end of October. According…
Chinese Listed Companies Are Buying Back Shares, Incurring Massive Losses
November 10, 2022
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Business & MarketsChinaChina Business & EconomyChina economychina stock marketeconomyMarketsstock buybacksstocks
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Wall Street Opens Sharply Higher After October Inflation Data
Wall Street’s main indexes opened sharply higher on Thursday as data showed consumer prices increased less than expected in October, spurring hopes that the Federal Reserve might scale down the size of its future interest rate hikes. The Dow Jones Industrial Average rose 749.97 points, or 2.31 percent, at the open to 33,263.91. The S&P…
Dollar Climbs Ahead of Inflation Data; Cryptos Crumble
SINGAPORE—The dollar inched higher ahead of U.S. inflation data due later on Thursday, while cryptocurrencies remained under pressure after crypto exchange Binance scrapped plans to rescue its ailing rival FTX. The greenback surged on Wednesday against its peers but later pared some of those gains, with investors also digesting the U.S. midterm election results. The…
Amazon Makes History After Losing $1 Trillion in Market Value Amid Tech Stock Rout
November 10, 2022
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AmazonBusiness & MarketsCompanieseconomyFacebookInvestmentMarketsMedia & Big TechrecessionSharesstocksUSUS News
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Amazon has become the first publicly traded company in history to lose $1 trillion in market valuation amid a volatile economy that has sparked a broad tech selloff. The Jeff Bezos-founded company, valued close to $1.88 trillion on July 2021, saw its shares fall 4.3 percent on Wednesday, pushing its market value down to $878 billion. Amazon stock…
Wall Street Ends Lower After Midterm Election, CPI in Focus
Wall Street ended sharply lower on Wednesday as Republican gains in midterm elections appeared more modest than some expected, with investors also focusing on upcoming inflation data that will provide clues about the severity of future interest rate hikes. Republicans were still favored to win control of the House of Representatives but key races were…
Dollar Stems Losses as Investors Await Midterm Results; Cryptos Jittery
SINGAPORE/HONG KONG—The dollar steadied near its weakest in two months against the euro on Wednesday as traders waited on results from U.S. elections and on inflation data this week that will guide expectations for the interest rate outlook. Cryptocurrencies were also top of mind for investors, as they stabilized after tumbling on Tuesday, when nerves…
Oil Prices Dip on China COVID-19 Worries
November 9, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices slipped on Wednesday after industry data showed that U.S. crude stockpiles rose more than expected and on concerns that a rebound in COVID-19 cases in top importer China would hurt fuel demand. Brent crude futures fell 74 cents, or 0.7 percent, to $94.62 a barrel by 1201 GMT, while U.S. West Texas Intermediate…
World Stocks Stall as US Midterms Too Close to Call
November 9, 2022
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Business & MarketsCompaniescryptocurrencyeconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsMedia & Big Techrecessionstocks
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LONDON—World stocks stalled below recent seven-week highs on Wednesday, while the dollar rose as investors awaited the results of the closely watched U.S. midterm election. Bitcoin, the biggest cryptocurrency by market value, fell as much as 5 percent, a day after sliding 11 percent. European stock markets and U.S. futures were lower, Meta Platforms Inc….
Elon Musk Sells Another $3.95 Billion Worth of Tesla Shares After Twitter Takeover
November 9, 2022
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Business & MarketsCompanieseconomyElon MuskInvestmentMarketsMedia & Big TechstocksteslaTwitterUSUS News
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Elon Musk has sold millions more shares in Tesla, according to three separate forms filed with the Securities and Exchange Commission this month. CEO Musk sold 19.5 million shares of the electric vehicle maker, worth $3.95 billion, from Nov. 4 to Nov. 8, the filings show. The share sell-off comes after Musk took over social media platform Twitter in…
Wall Street Rises Ahead of Election Results, Inflation Data
NEW YORK—Election Day brought another rise for Wall Street, with stocks climbing Tuesday for a third straight day. The S&P 500 rose 21.31, or 0.6 percent, to 3,828.11, though it flipped between an even bigger gain and a modest loss to get there. The Dow Jones Industrial Average climbed 333.83 points, or 1 percent, to…
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