Category: Finance News

Asian stocks advance as tariffs take a backseat; China rallies

Asian shares closed higher on Monday, taking cues from Wall Street’s advance following the release of strong employment data for the month of June. Meanwhile, investors continued to keep an eye on trade after the U.S. and China exchanged tariffs last week.   Japan’s Nikkei 225 rose 1.21 percent, or 264.04 points, to close at 22,052.18, buoyed by broad-based gains […]

Chinese tech giant Tencent plans to list its online music business in the United States

Chinese internet giant Tencent said it plans to spin off its streaming music service on a U.S. stock exchange.   In a statement issued on Sunday through the Hong Kong stock exchange, Tencent said the terms of the proposed spin-off, including offering size, price range and other details have not been finalized. The company added that details will be made […]

Shares of Chinese smartphone maker Xiaomi stumble on their debut, slipping as much as 6%

Shares of Chinese smartphone maker Xiaomi stumbled on their debut in Hong Kong on Monday, opening for trade down more than 2 percent and slipping as much as 5.88 percent during the session. That came after a disappointing pricing and a listing delay in mainland China.   Xiaomi shares opened down at 16.60 Hong Kong dollars ($2.12) a share, according […]