(Bloomberg) Asian stocks look set for a cautious open Friday as the delta virus strain and the prospect of reduced central bank stimulus weigh on the economic outlook, hurting commodities and bolstering the dollar. Futures were modestly higher in Japan, Australia and Hong Kong. U.S. contracts fluctuated after the S&P 500 and Nasdaq 100 rose overnight in a choppy session, while Treasuries climbed and the dollar hit a nine-month high. Commodities have slumped, flashing a warning about the impact of Covid-19’s resurgence on the global recovery. Chinese stocks listed in the U.S. tumbled further including declines of more than 6% in Tencent Holdings Ltd. and Alibaba Group Holding Ltd. as Beijing deepens a regulatory crackdown on private industry. The delta strain is stoking doubts about achieving herd immunity to underpin economic reopening, just as Chinese activity slows and the Federal Reserve eyes a gradual reduction of emergency stimulus. That mix puts global stocks and commodit
(Bloomberg) Stocks climbed as dip buyers resurfaced at the end of a week marked by a surge in global volatility. All major groups in the S&P 500 advanced, while the NYSE FANG+ Index of giants such as Apple Inc. and Facebook Inc. halted a five-day slide. Chinese shares listed in the U.S. rallied Friday, but were still on pace for their longest streak of weekly losses in a decade. The dollar and Treasuries were little changed. Financial markets were rattled this week by speculation the recovery could lose momentum just as central banks get ready to pare back their support measures. Dallas Federal Reserve President Robert Kaplan, who favors ending the $120 billion of monthly asset-purchases sooner rather than later, said he may adjust his view if the delta variant persists and curbs economic expansion. While risks to the global economy are mounting, money managers in search of returns are sticking to equities. U.S. stock-fund data collected before the Fed signaled it could potentially s
Coupang is facing renewed criticism from labour unions and customers about working conditions, with the trigger being a deadly fire at a fulfillment center in June.
Bom Kim amassed a fortune at Coupang Inc., the Amazon of South Korea, that reached as much as $8.9 billion, and became the poster child of a new kind of wealth generation in the country.