NetEase, Inc., each representing 25 ordinary shares (NTES) News
NetEase, Inc., each representing 25 ordinary shares (NTES)
Today's Latest Price: $446.85 USD
Updated Jul 7 3:41pm
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Latest NTES News From Around the Web
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Stocks in Europe rally and Dow futures climb on economic optimismEuropean stocks rose on Monday, as signs of economic progress offset worries about growing coronavirus cases in the U.S. as well as India. |
Why Youdao Stock Skyrocketed 66.9% in JuneShares of Youdao (NYSE: DAO) gained 66.9% in June, according to data from S&P Global Market Intelligence. NetEase issued new common stock and also had its public debut on the SEHK on June 11, and its valuation climbed roughly 8.4% last month. Youdao posted much bigger gains than NetEase, but its stock movement trends tracked closely in line with those of its parent company. |
World’s Fifth-Largest Reserves Pile Gives India Some Comfort(Bloomberg) -- India has accumulated the world’s fifth-largest foreign exchange reserves at more than $500 billion, making it a bright spot in an otherwise dismal economy.The reserves were bolstered by a rare current-account surplus in the first quarter, a return of inflows into the local stock market and foreign direct investment, including into a unit of Reliance Industries Ltd., India’s largest company by revenue. That allowed the central bank to mop up close to $25 billion in foreign exchange to add to its reserves in the quarter through June, according to analysts such as Anubhuti Sahay, chief India economist at Standard Chartered Plc in Mumbai.A strong reserve buffer is a cushion against market volatility, and gives foreign investors and credit rating companies added comfort that ... |
China Beverage Firm Wahaha Said to Mull IPO Above $1 Billion(Bloomberg) -- Hangzhou Wahaha Group Co., one of China’s biggest drink makers, is weighing an initial public offering that could raise more than $1 billion, according to people with knowledge of the matter.A listing could come as soon as next year, the people said, asking not to be identified as the matter is private. The beverage company is working with an adviser on preparations for the share sale, and has been considering Hong Kong among potential listing venues though no final decision has been made, they said.Founded in 1987 by entrepreneur Zong Qinghou, Wahaha has grown into a food and beverage giant with products ranging from bottled water, yogurt drinks and juice to instant noodles. The company has 80 production bases and employs about 30,000 workers, according to its website. I... |
India Rupee’s Rally Leaves Traders Gauging RBI’s Forex Strategy(Bloomberg) -- India’s rupee hit a three-month high after breaking out of a tight trading band, boosted by strong inflows and expectations that the central bank may be slowing its purchases of dollars.The rupee rose as much as 0.6% to 74.5562 per dollar, its highest since March 27, before closing up 0.5%. The currency has strengthened 1.3% this week in Asia’s best performance.The currency rallied 0.8% on Thursday, with traders attributing the strength to inflows from Reliance Industries Ltd.’s stake sales in its digital unit and the Reserve Bank of India stepping away from buying dollars. The prospect of a rare current-account surplus following robust foreign flows and low oil prices has burnished the rupee’s outlook, which was the region’s biggest decliner in the first six months of 20... |
Tech Tycoons Flood H.K. With $20 Billion of Stock Listings(Bloomberg) -- China’s tycoons are flooding Hong Kong’s exchange with $20 billion worth of new listings.While the city’s rich are preparing for a worst-case scenario amid a controversial national-security law, major mainland billionaires are coming in. The latest to do so: William Ding of NetEase Inc. and JD.com Inc.’s Richard Liu, whose companies completed secondary listings there last month. They follow Jack Ma, whose Alibaba Group Holding Ltd. stock issuance in November was the city’s largest since 2010.Together, the three moguls’ firms have raised $20 billion from share sales in the former British colony, and that may be just the start of a new wave of listings by mainlanders.“Chinese billionaires’ tech companies are helping the capital market in Hong Kong for a pivotal change and s... |
China’s Central Bank Is Signaling a Slower Pace of Easing(Bloomberg) -- China’s central bank is slowing down the pace of monetary easing amid signs of economic recovery, handing disappointment to investors who have worried about tightening liquidity and rising bond yields.Since early May, the People’s Bank of China has tolerated a steady increase in money market rates and the highest 10-year sovereign bond yield in five months. And although a fresh liquidity injection was signaled by the government two weeks ago, Governor Yi Gang is taking an unusually long time to deliver.Instead, Yi has told markets to start thinking about an “exit” from the looser financial policies seen earlier this year, even as the country faces a highly-uncertain path out of the historic economic slump in the first quarter. For now, he’s backed by the data -- a manufac... |
Investors reckon China's grip is good for Hong Kong marketsIn the streets of Hong Kong, activists protest against China's new security law. Hong Kong markets will benefit from more listings by Chinese companies, more mainland money, and more financial links with the world's second-biggest economy, traders and analysts say, despite legislation some fear will erode the city's freedoms. Beijing unveiled the law on Tuesday, and Hong Kong police made their first arrests of protesters under the legislation on Wednesday. |
Don't sacrifice Hong Kong for a banker's bonus, UK tells HSBCBritish Foreign Secretary Dominic Raab reprimanded HSBC and other banks on Wednesday for supporting China's new security law, saying the rights of Hong Kong should not be sacrificed for bankers' bonuses. Senior British and U.S. politicians criticised HSBC and Standard Chartered last month after the banks backed China's national security law for the territory. "On HSBC and banks, I've been very clear in relation with HSBC and ... all of the banks: the rights and the freedoms and our responsibilities in this country to the people of Hong Kong should not be sacrificed on the altar of bankers' bonuses," Raab told parliament. |
Could US-China rivalry force more tech firms to turn to Hong Kong for funding?The likes of Alibaba, JD.com and NetEase have already obtained secondary stock market listings in Hong Kong, fearful of losing access to American capital markets as a result of escalating tensions between China and the US. |
