Alibaba, the Chinese e-commerce giant, experienced a significant drop in its shares following a steep decline in net profit in the fiscal fourth quarter. The company’s revenue for the quarter reached 221.9 billion yuan, slightly higher than the 219.66 billion yuan expected by the LSEG consensus estimates. However, the net income attributable to ordinary shareholders
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China’s inflation data for April showed a mixed picture, with the consumer price index beating estimates while the producer price index fell more than expected. This discrepancy could have implications for monetary policy decisions in the future as policymakers assess the impact on the economy. Japan’s first-quarter gross domestic product (GDP) is expected to have
As the earning season comes to a close, there are still some key names that are set to report their quarterly figures. Home Depot is one of those names, with expectations that their earnings may have fallen more than 5% from the year-earlier period. The home improvement giant has struggled this year, and analysts are
In April, China saw an increase in consumer prices for the third consecutive month, a sign of improvement in domestic demand. This rise in consumer prices, coupled with better-than-expected imports data, suggests that the policy support measures implemented by the government are starting to have a positive impact on consumer confidence. The National Bureau of
In recent years, Germany’s trade landscape has been experiencing significant shifts, with the United States quietly taking over as the country’s top trading partner. Data shows that between January and March of 2024, the combined exports and imports between Germany and the U.S. amounted to 63 billion euros, surpassing trade with China which stood just
The global semiconductor industry is on the brink of a major transformation, all thanks to the rise of artificial intelligence (AI) PCs equipped with chips developed by British chip designer, Arm. According to analysts at Morgan Stanley, the demand for more powerful PCs to support AI applications is driving this shift. Microsoft, for example, now
South Korea’s convenience stores have added a unique item to their menu – gold bars. This new phenomenon has taken the country by storm, with customers flocking to purchase these mini gold bars from the shelves of CU outlets. Not only are they selling like hotcakes, but they also come in a variety of sizes
As markets in the Asia-Pacific region gear up to extend gains from the previous session, there is a cautious sense of optimism lingering. The upward trend follows Wall Street’s rise overnight, driven by expectations of potential interest rate cuts by the Federal Reserve. This anticipated move has sparked a positive sentiment among investors, prompting them
Asia-Pacific markets experienced a boost on Monday as they mirrored the gains seen on Wall Street. This surge in optimism came following a softer-than-expected U.S. jobs report, leading investors to believe that the Federal Reserve may soon cut rates. As market participants eagerly awaited key events such as the Reserve Bank of Australia’s rate decision
The interactions between Europe and China have been increasingly complex, with economic ties playing a significant role in the relationship. The EU-China trade, estimated at 2.3 billion euros per day, demonstrates the extensive economic interactions between the two regions. However, this economic interdependence is now intertwined with geopolitical concerns. European carmakers are facing challenges from