The capitalization of the Chinese Internet company Tencent has decreased by 38% since January 2018, when the value of its shares jumped 100-fold after the initial public offering of shares in Hong Kong in 2004. This is the most significant loss of market value among all global companies in the current year. Institutional and individual investors, for whom Tencent was a favorite among technology companies, began to fear that the prices of its shares were greatly inflated. As reported, in March, the South African holding Naspers sold its stake in Tencent worth about 11 billion dollars. The company's profit in the first quarter fell for the first time for at least 10 years. The price of Tencent shares on Tuesday fell by 1.4%.
Apple, Google, Amazon, and Facebook’s chief executive officers faced Republican and Democratic U.S. lawmakers on Wednesday for the much-anticipated congressional hearing. The CEOs were questioned for alleged abuse of their market power ...
The euro steadied at four-month highs on the dollar after investors pinned hopes on the EU economic rescue fund as European leaders are expected to break a deadlock and agree on a deal. EU leaders had differing stands on the proposed 750 billion ...
Asian markets are poised to start with a firmer tone on Friday, disregarding an overnight decline in U.S. stocks. The decline was mainly from the United States’ move of debating new economic stimulus in a bid to salvage the virus-beaten ...
The dollar firmed on Thursday as a decline in Chinese retail sales worried investors, while the rest of the market anticipates the EU summit this weekend. The euro was down 0.1% to $1.1401, while the dollar stood at 106.95 on the yen. The ...
Asian shares hit four-month highs on Monday as investors relied on liquidity and market stimulus to support global economic recovery despite the surge of new cases in the United States. MSCI’s broadest index of Asia-Pacific shares outside ...