HONG KONG—Shares of Macau casino operators on Wednesday shed as much as a third of their value, losing about $18 billion, as the government kicked off a regulatory overhaul that could see its officials supervising companies in the world’s largest gambling hub. With Macau’s lucrative casino licences up for rebidding next year, the plan spooked…
Billions Blown as Macau Casino Investors Fold Amid Gambling Review
Heavily Indebted Chinese Developer Sees Investors Crowd Headquarters in Protest
Thousands of disgruntled investors besieged the headquarters of the world’s most indebted property developer in China to demand repayment of loans and financial products on Sept. 13. Evergrande first warned in August of liquidity and default risks if it fails to raise cash and resume construction. On Sept. 8, investors found the company had suspended…
Japan’s Investors Raise Bets on Kono in Leadership Race
September 13, 2021
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TOKYO—Japan’s stock investors have raised bets Taro Kono will become the country’s next prime minister, snatching up renewable energy and office technology shares that are expected to benefit under his economic policies. At the same time, investors are now trimming holdings of some medical service shares that had previously benefited on now fading expectations former…
Investors Eye Wobbling Energy Sector as Gauge for Delta Fears
September 11, 2021
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NEW YORK—Energy stocks are becoming a popular bellwether for concerns over how deeply the Delta variant of the coronavirus is expected to impact the U.S. economy, as the so-called reopening trade that boosted some parts of the market earlier this year continues to stumble. The S&P 500 energy sector is down 12.3 percent for the…
Investors Betting on ‘Stable’ Choice of Powell Renomination at Fed
September 9, 2021
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NEW YORK—A potential renomination of Jerome Powell at the helm of the U.S. Federal Reserve would provide a needed sense of stability as the central bank prepares to pull back its emergency-level support, investors say, even while some chide the Fed chief for policies they say have pumped excessive liquidity into markets. Wall Street is…
Investors Hit Pause as GameStop Goes Quiet on Reorg
Video game retailer GameStop Corp tumbled 8 percent in early trading on Thursday as the company’s silence on its turnaround plan left its army of small-time investors questioning the meteoric rise in its share price this year. Although the company posted a 25 percent jump in quarterly sales late on Wednesday, executives failed to lay…
China Huarong in Talks With Investors After $16 Billion Loss
SHANGHAI—China Huarong Asset Management Co., Ltd., a state-owned asset management company, sought to turn the page on a deep annual loss on Monday, as its chairman said it was in talks with potential new strategic investors alongside a CITIC-led (CITIC Group Corporation Ltd.) consortium. Wang Zhanfeng, on a call a day after releasing earnings results,…
‘Common Prosperity’ Sheds Light on Beijing’s Regulatory Direction
Commentary Finally, there is increasing clarity around how the Chinese Communist Party (CCP) intends to regulate its giant corporations, which is invaluable to U.S. investors assessing Chinese stocks. Regulatory guidance has come fast and furious over the last several months, sending Chinese stocks—at least those traded in the United States—into a tailspin. And most recently,…
S&P 500, Nasdaq Set for All-Time Closing Highs as Powell Sooths Taper Worries
NEW YORK—Wall Street advanced on Friday as Federal Reserve Chairman Jerome Powell’s remarks at the Jackson Hole Symposium calmed fears over the tapering timetable and sent investors into the weekend in a buying mood. All three major U.S. stock indexes extended their gains after Powell’s statement was released, and put the S&P 500 and the…
BlackRock Wants Investors to Increase China Exposure, Should You Follow?
News Analysis BlackRock, the world’s largest investment manager with more than $9 trillion in assets under management, recently made a very contrarian call. The investing giant argued that China is no longer an emerging market and as such, investors need to boost their investments in Chinese stocks and bonds. China is underrepresented in investors’ portfolios,…
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