4.70k followers • 23 symbols Watchlist by Motif Investing
Growing middle-class income could mean increased spending on consumer products and services in emerging markets.
Alibaba Group Holding Limited
The Coca-Cola Company
New Oriental Education & Technology Group Inc.
Vipshop Holdings Limited
Huazhu Group Limited
Tata Motors Limited
Grupo Televisa, S.A.B.
Companhia Brasileira de Distribuição
LG Display Co., Ltd.
GOL Linhas Aéreas Inteligentes S.A.
Tupperware Brands Corporation
Jumei International Holding Limited
Fang Holdings Limited
(Bloomberg) -- Australia’s dollar broke through the key 70 U.S. cents mark on expectations markets have witnessed the worst of the coronavirus’ carnage on the global economy.The Aussie jumped as much 0.9% on Friday to 70.04 U.S. cents, the highest level since early January when the virus outbreak had yet to explode into a pandemic. It has risen 27% after sliding to a near 18-year low in March, and is seen as a favored asset to buy among investors cheering the re-opening of economies from Singapore to Germany.The Aussie could rise to 75 U.S. cents next year as it benefits from a cocktail of supportive monetary and fiscal policies, improving risk sentiment and the nation’s record trade surplus, Thomas Nash, a strategist at HSBC Bank Australia, wrote in a note. “Buying AUD in the depths of recession has been profitable in the past -- this time should be no different.”The currency also received an inadvertent boost from Reserve Bank of Australia Governor Philip Lowe, who refrained from talking down the currency’s strength at a recent policy meeting.The rising trend is likely to continue, according to Australia and New Zealand Banking Group Ltd.“The rally has come from a position of currency undervaluation and is aligned to improvements in both risk appetite and global growth prospects,” ANZ strategists including Daniel Been wrote in a note. “As a result, at this stage, the move is unlikely to warrant attention from the RBA.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- NetEase Inc. raised about HK$21 billion ($2.7 billion) in its Hong Kong stock offering, people with knowledge of the matter said, as Chinese companies grapple with rising tensions between Beijing and Washington.China’s second-largest gaming company priced 171 million new shares at HK$123 each, equivalent to a 2% discount to its Thursday closing price on Nasdaq, said the people, who asked not to be identified as the information is private. That comes after investors subscribed for many times more than the total stock offered. The company earlier set a maximum price of HK$126. The shares are expected to start trading in Hong Kong on June 11.The U.S.-listed internet giant makes its debut in Hong Kong as tensions between Washington and Beijing threaten to curtail Chinese companies’ access to U.S. capital markets, particularly after once high-flying Luckin Coffee Inc. crashed amid an accounting scandal. It’s also a victory for Hong Kong, coming on the heels of Alibaba Group Holding Ltd.’s $13 billion share sale and the passing of a national security law that critics fear could jeopardize its status as a financial hub. No. 2 Chinese online retailer JD.com Inc. plans to start taking orders on Friday for its listing in the city .NetEase is a distant second to Tencent Holdings Ltd. in the world’s largest video game market. The creator of popular franchises like Fantasy Westward Journey and Onmyoji reported a 14% rise in online games revenue for the coronavirus-stricken March quarter, less than half of the pace Tencent’s gaming division managed during the same period.Much like Tencent, NetEase is looking globally for the next chapter of growth, teaming up with Japan’s Studio Ghibli and investing in Canadian game creator Behaviour Interactive. After selling its cross-border e-commerce platform Kaola to Alibaba, the 22-year-old company has shifted its focus to music streaming and online learning, despite worsening competition in these areas. NetEase company representatives didn’t immediately respond to a request for comment.China International Capital Corp., Credit Suisse Group AG and JPMorgan Chase and Co. are joint sponsors.(Updates throughout as the deal is priced. An earlier version corrected the currency denomination in first paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- China’s No. 2 online retailer JD.com Inc will start taking investor orders Friday for its second Hong Kong listing, according to people familiar with the matter, hot on the heels of NetEase Inc.’s $2.7 billion share sale in the city, as the U.S.-listed firms seek a foothold closer to home amid rising U.S.-China tensions.JD.com filed a preliminary prospectus on Friday with the Hong Kong stock exchange, which doesn’t contain any share sale details. The company could raise at least $2 billion, Bloomberg News has reported. The filing comes on the same day online gaming firm NetEase told prospective investors it was planning to price its Hong Kong listing at HK$123 each.A company spokesperson declined to comment on whether it planned to begin taking orders Friday.Escalating tensions between Washington and Beijing are increasing risks for Chinese companies like JD and NetEase who seek to broaden their investor base. U.S. capital markets are becoming frosty toward Chinese firms, and there have been fears over the impact of national security legislation set to be imposed on Hong Kong, including the resumption of protests in the city.The twin debuts would follow Alibaba Group Holding Ltd.’s $13 billion Hong Kong stock sale last year, hailed as a homecoming for Chinese companies and a win for the Hong Kong stock exchange, which lost many of the largest tech corporations to U.S. bourses because it didn’t allow dual-class share voting at the time -- a requirement that’s since been relaxed.Bank of America Corp., UBS Group AG and CLSA Ltd. are joint sponsors of JD’s Hong Kong share sale.(Updates with details of Hong Kong listing in first paragraph and spokesman response in third paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- U.S. federal and state authorities are asking detailed questions about how to limit Google’s power in the online search market as part of their antitrust investigations into the tech giant, according to rival DuckDuckGo Inc.Gabriel Weinberg, chief executive officer of the privacy-focused search engine, said the company has spoken with state regulators, and talked with the U.S. Justice Department as recently as a few weeks ago.Justice Department officials and state attorneys general asked the company about requiring Google to give consumers alternatives to its search engine on Android devices and in Google’s Chrome web browser, Weinberg said in an interview.“We’ve been talking to all of them about search and all of them have asked us detailed search questions,” he added.Weinberg’s comments shine a light into how the inquiry is examining Google’s core business -- online search. Bloomberg has reported that the Justice Department and Texas are already examining Google’s dominance of the digital advertising market. The Justice Department and a coalition of states led by Texas Attorney General Ken Paxton have been investigating the company for a year, and the DOJ has begun drafting a lawsuit, which could be filed in the coming months. It would kick off one of the most significant antitrust cases in the U.S. since the government sued Microsoft Corp. in 1998.The investigations have been wide-ranging and are looking into various parts of Google’s business. States including Utah and Iowa are focusing on search, according to people familiar with the matter. Texas is looking at the digital ad market and related technology.Google handles the majority of online searches in the U.S., with Microsoft’s Bing, DuckDuckGo and other providers trailing far behind. Google Search is free for users, but the company’s lead helps it charge thousands of businesses high prices for ads that run above the free web listings in results. Last year, that business generated almost $100 billion in revenue.Read more: Google Search Dominance Has Businesses Paying for Their Name“We continue to engage with the ongoing investigations led by the Department of Justice and Attorney General Paxton, and we don’t have any updates or comments on speculation,” a Google spokeswoman said. In the past, the company has said that online competition is just a click away.The Federal Trade Commission previously investigated whether Google stifled competition in the market for online search advertising, but it closed the probe in 2013 after the company agreed to relatively minor changes. However, portions of communications between FTC commissioners and staff later showed that staffers recommended bringing an antitrust lawsuit against Google.Read more: Google Should Be Afraid of Latest U.S. ScrutinyWeinberg said the questions he has fielded recently about requiring Google to present users of its tech alternatives to its own search engine suggest that’s something the government could include in a possible future settlement.“That’s one direction we think has a decent probability,” he added. The Justice Department declined to comment. Attorneys general in Utah and Iowa didn’t respond to requests for comment.In Europe, Google was fined a record $5 billion for antitrust violations in 2018. As part of that ruling, the company is required to give consumers using phones that run its Android operating system a choice of different search engines and web browsers. Competing services must bid in an auction to be included in a “choice screen.”“Could this be a precursor to similar changes in the U.S.?” Mark Shmulik, Toni Sacconaghi and other analysts at Sanford C. Bernstein, wrote in a note to investors earlier this week.Europe’s remedy has gone through various iterations and some rivals have argued that having to pay to be included in the choice screen is unfair.Read more: Google App Prompts Watched ‘Very Very Closely’ by EU’s VestagerEcosia, a not-for-profit search engine based in Germany, boycotted the auction. DuckDuckGo participated in the most recent auction, but said it may not be able to compete if prices rise.“This auction remedy, proposed by Google, was constructed to make Google money, not to provide meaningful consumer choice,” DuckDuckGo said in a blog post last week.It suggested scrapping the auction and said that an unpaid “search preference menu” has increased competition already in Russia. In 2010, Microsoft created a successful browser preference menu without an auction where the top five web browsers by market share appeared randomly, DuckDuckGo said.“While our view is that users are unlikely to switch search engines, Yandex grew their search engine share by 2,000 basis points to 58% in three years following a similar ruling in Russia,” Bernstein’s Shmulik wrote in the recent Bernstein note to investors.If the U.S. incorporates these suggestions, it could bypass Europe as the most successful regulator of Alphabet Inc.’s Google, Weinberg said.“The U.S. gets criticized for being behind Europe but in reality what’s happened in Europe hasn’t worked,” the CEO added. “The U.S. not only can do it right from the start but has the opportunity to leapfrog the EU.”(Updates with analyst comment in 13th paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
In the latest trading session, Coca-Cola (KO) closed at $47.92, marking a +0.04% move from the previous day.
Is (JD) Outperforming Other Retail-Wholesale Stocks This Year?
As of late, it has definitely been a great time to be an investor of JD.com
The Australian dollar has been all over the place on Thursday, but quite frankly it is overextended so at the very least the market needs to go sideways.
Taking out yesterday’s low at .6856 will indicate the presence of sellers. This will make .6983 a new minor top.
(Bloomberg) -- Grab Holdings Inc., Southeast Asia’s ride-hailing giant, is expanding delivery services from convenience stores and supermarkets across 50 cities in the region.The Singapore-based startup said it has teamed up with 3,000 stores as it accelerates delivery of groceries, toilet paper, packaged snacks and beverages to cater to consumers mostly stuck at home during the coronavirus pandemic. Grab provided the service in two countries before the Covid-19 outbreak, and it’s now available in eight, adding the likes of Myanmar and Cambodia.Ride-hailing businesses were hammered globally during the pandemic as people stopped going to work and eliminated unnecessary socialization. While Grab is private and doesn’t disclose financial data, Uber Technologies Inc. said its global rides business is down 70% from last year. To combat the downturn, ride-hailing companies have pivoted to expand their drivers’ delivery of food and other goods.Demi Yu, regional head of GrabFood and GrabMart, said the company is boosting investment in deliveries this year to meet rising consumer demand.In the U.S., DoorDash, the biggest food-delivery app in the country, started delivering goods from convenience stores in April. In Southeast Asia, e-commerce operators such as Qoo10 and Shopee have started delivering daily essentials, while Alibaba Group Holding Ltd.’s Southeast Asian arm Lazada Group and Amazon.com Inc.’s Prime Now are seeking to meet demand for fresh groceries.How Alibaba’s Lazada Turned Discarded Vegetables Into a BusinessGrab is gearing up to expand into grocery services. In Singapore and Indonesia, consumers can now order fresh produce and premium meats from urban farmers and local suppliers. It’s also working with traditional market operators in Indonesia and Malaysia.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- While technology billionaires have been among the most visible champions of the fight against Covid-19, perhaps none has as much at stake as Jay Y. Lee., Samsung’s anointed heir.South Korea’s largest corporation and its de facto leader have been key players in one of Asia’s most successful coronavirus containment campaigns. Since March, Samsung has dispatched its own doctors to hard-hit zones, flown Korean engineers overseas via its private jet, doled out roughly $39 million worth of aid globally and played a central role in ramping up production of testing kits -- hailed by healthcare experts as a turning point in Korea’s battle against the disease.Samsung -- the world’s largest maker of memory chips, mobile devices and electronic displays -- and its fellow conglomerates helped flatten the virus curve. But for Lee, success comes at a time of particular scrutiny. The well-publicized effort burnished his image months before the denouement of a years-long scandal and trial into alleged influence-peddling and Lee’s succession plans. In the legal clash, which inflamed resentment against Korea’s most influential conglomerates, Lee stands accused of using thoroughbred horses and other gifts to buy government support for plans to cement his family’s control over the Samsung empire -- something both Samsung and he have denied.In a sign of how popular opinion will play into the case, Lee this week requested a public assessment of the validity of the indictment, invoking a measure allowing the formation of a civil panel to review cases. Then on Thursday, prosecutors, at risk of losing some authority, decided to seek an arrest warrant for the billionaire for alleged violations of capital market and audit laws, Yonhap News reported.“Samsung got on the prosecutors’ nerves. The move to request an outside review is something that’s undercutting prosecutors and could enrage them,” said Chung Sun-sup, CEO at corporate research firm Chaebul.com. “Lee might have thought that he could get support from people who distrust prosecutors.”Read more: Samsung Heir Vows an End to Family Rule After Succession ScandalLee could face a prison sentence of several years in the current trial. Regardless of Covid-19, the outcome could prove a watershed moment in the sensitive relationship between the country’s corporate chieftains and government. The hearings, which will likely wrap late this year, are regarded by many observers as a litmus test for whether Korea’s courts are truly independent of the powerful business interests that hold sway over the economy.The 51-year-old Samsung heir convened a rare press conference in May to apologize for his company’s mis-steps over succession. Swearing his children would never run the company, he pledged to give back to society and praised his fellow citizens’ dedication throughout the outbreak. “It gave me a chance to look back on our past and as a member of the business community, I feel a greater sense of responsibility,” Lee said. “I pledge to create a new Samsung that is level with the national dignity of South Korea.”The surprise announcement drew public support from both ruling and opposition parties as well as the chairperson of the Fair Trade Commission. But critics and academics pounced on Lee’s comments as bereft of substance. That’s because it came just before a deadline set by an internal Samsung oversight body for just such an apology. The independent compliance committee, established this year after a judge in the graft trial questioned Samsung’s measures to prevent legal violations such as bribery, assessed Lee’s apology as a “meaningful” step but wanted more details.“Samsung has never done as much in the past” to assuage critics of the conglomerates, said Kyungmook Lee, a business professor at Seoul National University. “As the largest chaebol in South Korea, the way they contributed to the nation during the Covid-19 crisis and apologized over past wrongdoings is helping soften public sentiment and improve the image of both the company and its heir.”That’s important because suspicion of the judiciary in Korea runs deep. Over the past decade, at least half a dozen high-profile industrial magnates have been sentenced to prison for corruption, only to have those jail terms mitigated or suspended by the courts -- including Lee’s father. Even President Moon Jae-in, who swept into power on promises to clean up endemic corporate malfeasance, grappled with public outrage after a judge in Lee’s first trial unexpectedly freed him after just a year in prison. In suspending Lee’s sentence, the judge concluded the billionaire couldn’t resist requests from a sitting president and that the greater responsibility lay with public officials. Park Geun-hye, who was impeached in 2017, has denied taking any money for herself.Paranoia about chaebols’ influence continues to dog the second phase of Lee’s hearings, which commenced late last year after the Supreme Court overturned the lower court’s decision to suspend the mogul’s sentence and ordered a retrial. Lee’s hearing has been delayed for months as prosecutors argue that one of the appeals court judges overseeing the current case is biased and inclined to go lightly on Lee. The justice in question has shown a flair for the dramatic by, among other things, lecturing the executive at length in October on how he can better run Samsung, advising him to take inspiration from Israeli businesses. The appeals court judge has so far kept out of the fray.“In South Korea, the public opinion often influences trials and sways verdicts,” said Heo Pil-seok, chief executive officer at Midas International Asset Management. “While Samsung’s facing several critical situations, it’s trying to make a plea for clemency to the public,” he said, referring to not just its Covid-19 efforts but also Lee’s apology.Read more: Samsung Warns of Profit Slide After Virus Slams Tech SphereSamsung and Lee’s approach to the sudden flare-up of the novel coronavirus was in many ways no different than his peers’. Noted philanthropists Bill Gates and Alibaba Group Holding Ltd. co-founder Jack Ma donated millions or offered technical assistance. Others like Amazon.com Inc.’s Jeff Bezos, faced with public criticism that their companies are placing workers in jeopardy, focused their efforts on protecting the workforce. And tech corporations joined manufacturers around the globe in trying to plug a shortfall in ventilators and masks.Samsung representatives emphasized that the company’s main goal was to combat the disease, save lives and protect employees, and dismissed any suggestion they were connected to the hearing. In addition to dispatching personnel, the company also converted a training facility near Daegu into a treatment center, helped expedite business entries into China, even handed out free smartphones to quarantined patients.“Samsung Electronics is joining the global fight against COVID-19 to safeguard the health and safety of our employees, customers, partners and local communities,” it said in a statement. “The smart factory program and other global relief initiatives by Samsung Electronics have nothing to do with the ongoing legal proceedings over the case of Vice Chairman Jay Y. Lee. Our efforts to curb the spread of the coronavirus have always been to help our employees and their families that have been impacted by this pandemic as we are all in this together.”Samsung plays an unusually crucial role in Korea’s economy and national ethos. Its transformation from economic minnow to technology export powerhouse owes much to its family-run conglomerates. Known as chaebol -- which means “wealth clique” -- these pillars of the nation’s “miracle economy” encompass household names like LG, Hyundai and SK. They’ve supported government initiatives for decades, spearheading a modernization effort that’s created world leaders in shipping, steel, and now technology and electronics.Largest of them all is Samsung. The 82-year-old conglomerate is both a symbol of the Asian country’s technological and diplomatic rise as well as a touchstone for what many think is wrong with the economy today -- the overwhelming dominance of a handful of dynasties who call the shots in everything from cars to phones.“Samsung’s striving to overhaul its image to win a positive trial ruling,” said Chae Yibai, a former opposition lawmaker and a long-time corporate governance activist, referring to the months-long virus campaign. “The entire process is like a play, with a judge taking on the role of director and the compliance committee acting as a sub-director. The leading man is Lee.”South Korea’s Chaebol, Engines of Growth and Scandal: QuickTakeIn the current drama, Lee’s star is on the rise. His approval ratings in independent surveys have climbed since the conglomerate, heeding the government’s call, swung into action in March. The top keywords in domestic internet searches covering Lee from January to April were “virus” or “management,” according to surveyor Global Bigdata Research, pushing out trial-related terms among the top 30.He’s even won over some of the smaller businesses that’ve traditionally played second fiddle to the chaebols. Local mask manufacturer E&W said its output increased about 50% after it adopted Samsung’s solutions in its facility setup and distribution. Samsung also dispatched about 10 experts to each of four test-kit makers to instruct their engineers on how to ramp up volumes while resolving bottlenecks through automation. “Keeping a sound ecosystem of SMEs is essential to Samsung as well as for the long-term benefits of all economic players,” said Junha Park, head of Samsung’s smart factory operation team.Lee’s approval rating in surveys conducted by the Global Bigdata have risen in 2020 since the outbreak. They fell to 9.77% in the two days after his public apology, down from an average of 16.37% over the 30 days prior. But negative views also plummeted to 20.6% from 44.2%, while those on the fence shot up to 72.8% from 39.4%. That latter point is key.“Credibility is very important,” said Daniel Yoo, head of global investment at Yuanta Securities Korea. “Clearly the corporate image, about Samsung and South Korea, has been improving.”Chaebol Backlash Loses Bite as Jailed Execs Walk Free: QuickTakeThe most immediate challenge for Samsung is empowering and keeping its de facto leader free during an era of heightened uncertainty. Regardless of the personal outcome of that trial, the longer-term perceptions of chaebols may hinge on Lee’s promise to corporatize Samsung. Some view his vision as the first step in finally reining in the chaebols, by breaking decades-old succession lines. Others suspect Samsung will find some other way to safeguard the Lee family’s control. That’s because it’s not up to Lee, but to the company’s shareholders and board, said Shin Se-don, an emeritus professor of economics at Sookmyung Women’s University.“The apology was unlike Samsung,” said Shin, who worked at Samsung’s research institute in the late 1980s. “After Lee’s announcement, ruling and opposition parties both suggested Lee could be legally excused. That’s different from what most people think.”(Updates with prosecutors seeking an arrest warrant in the third paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg Opinion) -- Hong Kong’s finance industry is thriving from the great divorce between the U.S. and China. Billion-dollar initial public offerings are on the horizon again, as New York-listed mainland companies seek a second home. The city’s blue-chip index has even revised its weighting rules so tech stocks can feature more prominently. But is this enough to rouse a sleepy stock market? While Hong Kong is on par with Shanghai in terms of total market capitalization, turnover pales in comparison, and it's practically a stagnant pool compared with the very liquid Shenzhen bourse. While mega IPOs are exciting, they are one-time events. Once bankers earn their fees and wave goodbye, trading could languish again.South Korea may offer some insights. One year ago, Seoul was still in a deep bear market, plagued by steep conglomerate discounts and historically low turnover. Now, it’s teeming with life. Since global markets started turning around in late March, the benchmark Kospi index has soared more than 40%, making it one of the world’s best performers.All of a sudden, Koreans, who dabbled in cryptocurrencies and all sorts of structured products, are frantically buying cash equities. Retail investors have single-handedly supported the main stock index as foreigners and domestic institutional investors sold.CLSA Ltd. recently conducted a fascinating study explaining what’s become one of the Kospi’s largest ownership changes in history. Survey data show a few usual suspects: historically low deposit rates, cheap valuations, and blow-ups in popular alternative investments, such as mezzanine convertible bonds and equity-linked securities. A liquidity crisis and global market meltdown have tamed Koreans’ taste for exotic products.But the most interesting finding is that investors are swapping their real estate holdings for stocks. This comes as President Moon Jae-in’s administration has made it harder to invest in residential property, with a recent ban on mortgage lending for anything valued over 1.5 billion won ($1.2 million). In the past few years, a series of tightening measures has worked: A flattening of home prices, along with dwindling sales volumes, dented investor sentiment.Apartments in Seoul were once considered one of Korea's best performing long-term assets. They registered a capital gain of 80.9% over the past 15 years, with flats in the affluent Gangnam district returning more than 200%, data provided by CLSA show. Yet property restrictions look set to remain as long as Moon’s around — and he’s not required to leave office until 2022. So people with money to invest have to look elsewhere. Samsung Electronics Co., which gained 443% over the same period, is a good alternative. Retail investors have poured $7.2 billion into the company’s shares this year. Many of the catalysts that drove Koreans to stocks are present in Hong Kong, too. Interest rates are even lower and high-profile stocks are landing, including NetEase Inc., while Alibaba Group Holding Ltd. completed its secondary listing last year. Meanwhile, local investors can no longer count on HSBC Holdings Plc for reliable dividend payouts, forcing them to look at tech companies instead. It’s no coincidence that the retail portion of NetEase’s Hong Kong listing was met with brisk demand on the first day, enabling the company to increase its allotment to local investors. The missing piece, however, is real estate. As soon as Hong Kong loosened its social distancing rules in May, secondary home-sales prices ticked up, along with transaction volume. The Land Registry recorded 6,885 property deals in May, a 12-month high. The faith that this sector can outperform stocks hasn’t broken yet. For an equity market to shine, local retail participation is essential. Overseas institutional investors, the biggest contributors to Hong Kong’s turnover, come and go. Those from the mainland, now active players through the stock connect, are equally fickle, given they’re so used to liquidity-driven markets back home. So unless Hong Kong moms and pops can learn from the Koreans — trading away their flats in Gangnam for a slice of Samsung — the Hang Seng will remain asleep. This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Shuli Ren is a Bloomberg Opinion columnist covering Asian markets. She previously wrote on markets for Barron's, following a career as an investment banker, and is a CFA charterholder.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Thank you for standing by for Ruhnn Holding Limited's Earnings Conference Call for the Fourth Quarter and Full Fiscal Year 2020. The Company's financial and operating results were issued in a press release earlier today and are available online. You can download the earnings press release and sign up for the Company's email distribution list by visiting the IR section of the Company's website at ir.ruhnn.com.
China's second- and third-largest e-commerce marketplaces just partnered with one of its largest electronics and appliance retailers.
The U.S.-China trade war, the COVID-19 pandemic, and the unrest across America have likely caused significant worry for many retirees who rely on their investment portfolios for stable income. Today, we'll examine three top Dividend Aristocrats that can still offer retirees stability through this volatile time period for the market: Procter & Gamble (NYSE: PG), Kimberly-Clark (NYSE: KMB), and Coca-Cola (NYSE: KO).
The Australian dollar has been going straight up in the air for quite some time, and as a result it is likely that we need to see a little bit of a pullback.
YIWU, China/SHANGHAI (Reuters) - At this time of the year, Deng Jinling would normally be welcoming foreign buyers to her vacuum flask showroom or cramming her goods into containers to be shipped to customers in the United States. Now desperate exporters are turning to the domestic market, and they are seeking out e-commerce and even social media mobile apps to lift their fortunes. Stuck with unsold stock and cancelled export orders, Deng has laid off both her sales staff and 80 factory workers, and has since March begun seeking local customers on Chinese e-commerce platforms, paying livestreaming stars to market her products.
Chinese online gaming firm NetEase raised at least $2.7 billion in a Hong Kong secondary offering, two sources said on Friday, amid doubts that mainland firms can list in New York as Sino-U.S. tensions deepen. NetEase's deal, the second after Alibaba in 2019, is expected to be one of several large secondary deals in Hong Kong this year. The Hong Kong price is equivalent to $396.70 for NetEase's U.S.-listed shares which is a 2% discount to the stock's last closing price of $405.01 on Thursday.