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Shares of Lenovo, the Chinese manufacturer of personal computers and electronics, due to a sharp drop in quotes will be excluded from the Hang Seng Index on June 4, Bloomberg reports. Instead, the index will include the papers of the pharmaceutical company CSPC Pharmaceutical Group. This situation will lead to the fact that Lenovo will lose the investment of passive funds tied to the index. According to Bloomberg, the total volume of assets managed by such funds is at least $107 billion. Lenovo shares were included in the calculation of the Hang Seng Index in March 2013. Since then, the company's capitalization has fallen by 56% to a minimum since 2009.
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
European stocks traded slightly higher on Tuesday ahead of a U.S. decision to roll out additional stimulus plans despite the underwhelming quarterly earnings reports from the luxury goods market. The pan-European STOXX index inched higher ...
Samsung Electronics’ shares joined TSMC, its competitor, as both extended gains on Tuesday. This was mainly from upbeat expectations that Intel Corp’s plan of outsourcing more chip producers would favor the chipmakers. Shares of ...
On Wednesday, Tesla Inc. (TSLA.O) posted its second-quarter profit worth $104 Million from April to June despite shutting down its electric vehicle factory in Fremont, California for roughly seven weeks due to the coronavirus pandemic. Tesla ...
Asian shares fell on Thursday as the U.S.-China tensions overshadowed hopes for more economic stimulus after Washington ordered the closure of Beijing’s consulate in Houston amid spying allegations. China called the order an “unprecedented ...
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