Page 21 - Wang Xing News Today

Tuesday, 11 May 2021 09:19 PM MYT Management team of Chinas Meituan Dianping, an online food delivery-to-ticketing services platform, attend a news conference on its IPO in Hong Kong, China September 6, 2018. — Reuters pic Subscribe to our Telegram channel for the latest updates on news you need to know. SHANGHAI, May 11 — Shares of Chinese food delivery giant Meituan slumped further today in a sell-off precipated by the social media posting by its chairman of an ancient poem that was perce...

Inflation concern spurs global tech rout DENTED TECH APPEAL: IG Asia Pte market strategist Yeap Jun Rong said investors continue to place their focus on the inflation narrative, with chip shortages in play Bloomberg The worldwide slump in technology stocks deepened yesterday, with investor angst over inflation and stretched valuations adding to fresh signs of regulatory scrutiny in China. Losses in Taiwan Semiconductor Manufacturing Co (台積電) and...

Highlights The poem, posted on May 6 by Chairman and CEO Wang Xing on a small social media site that he founded, criticises the emperor of the Qin dynasty, who burnt books to suppress intellectual dissidents, only for it to be overthrown by illiterates. Shares of Chinese food delivery giant Meituan slumped further in a sell-off precipitated by the social media posting by its chairman of an ancient poem that was perceived by some as criticising the government and President Xi Jinping. He was ref...

Meituan’s stock plunged to a seven-month low after the Chinese e-commerce company’s billionaire chief executive officer shared and then deleted a poem on social media that some interpreted as a veiled criticism of Beijing. The food delivery giant fell almost 10% in Hong Kong before closing 7.1% lower to wipe out about $16 billion. Wang Xing posted a classical poem about book burning by the emperor during the Qin dynasty on social media platform Fanfou.com, according to the Hong Kong Econo...

HK market loses early gains as Meituan plunges 2021-05-10 HKT 16:49 The Hang Seng Index finished Monday in the red. Image: Shutterstock Local shares failed to hold on to their morning gains and finished with small losses on Monday, while the rest of the region was mixed after a below-forecast US jobs report raised hopes that near-zero interest rates will remain for the time being. The Hang Seng Index started the day up 166 points and rose as many as 231 points. It then reversed course t...

May 10, 2021 Jack Ma learned the hard way, and paid a hefty price for speaking out when Beijing suspended his Ant Group’s monster IPO following his criticism of regulators. Now, another prominent Chinese tech executive is having a hard time after posting and later deleting a poem seen by many as anti-establishment. Wang Xing, the billionaire founder and CEO of Chinese food delivery giant Meituan, faces questions about whether he delivered a veiled criticism of the government with a classica...

ASX to drop, Wall St pulls back from record high Share Australian shares are set to drop at the open, taking their direction from Wall Street as all three major benchmarks ended lower to start their week amid renewed concerns about inflation. ASX futures were down 52 points or 0.7 per cent to 7096 near 7am AEST. The currency slipped, hovering near US78.40¢. The yield on the US 10-year note rose 2 basis points to 1.60 per cent near 4.59pm in New York. On Wall Street, shares were mostly lower wi...

China readies big Tencent fine in crackdown: report Bloomberg China is preparing to slap a fine on Tencent Holdings Ltd (騰訊) as part of its antitrust crackdown on the nation’s Internet giants, Reuters said, citing people with knowledge of the matter. Tencent might face a fine of at least 10 billion yuan (US$1.6 billion), which is less than the US$2.8 billion levied upon fellow titan Alibaba Group Holding Ltd (阿里巴巴), the report said. The company faces penalties for not properly re...

VCG via Getty Images China is preparing to slap a fine on Tencent as part of its antitrust crackdown on the country’s internet giants The campaign against China’s tech giants has already ensnared Alibaba and Meituan, and analysts have widely regarded Tencent as possibly being next in line The government has become increasingly concerned over the growing influence of titans like Alibaba, Tencent and Meituan over every aspect of Chinese life as well as the vast amounts of data they’ve amass...

Finding Wealth In China’s “Time Machines”: 2021 Forbes Midas List’s Jing Hong Share to Linkedin “China’s competition is cut-throat. People can’t just talk – they also have to have the capability to inspire their team members and really get things done," says Gaocheng Capital CEO Jing Hong, who ranks No. 39 on the 2021 Forbes Midas List. Gaocheng Jing Hong, the highest debuting China-based member of the newly released 2021 Forbes Midas List this month, tr...