Jamie Murray s Top Picks: July 12, 2021
CPPIB invests US$800M in India s Flipkart Group
Virgin Galactic sinks on stock-sale plan after Branson trip
Larry Berman: High bar set for U.S. earnings quarter
Strong stock market run not a signal of impending correction, say experts
U.S. stocks hit records ahead of earnings; oil falls
Andrew Pyle s Top Picks: July 9, 2021
U.S. stocks climb to all-time highs while bonds retreat
John Zechner s Top Picks: July 8, 2021
Meme stocks are on brink of bear market as retail frenzy fades
Banks poised for 13% dividend boost when OSFI allows
Brian Madden s Top Picks: July 7, 2021
Dennis Da Silva s Top Picks: July 6, 2021
An equal-weighted basket of China’s three internet giants collectively dubbed BAT– Baidu Inc., Alibaba Group Holding Ltd. and Tencent Holdings Ltd. fell about 2% in the 12-months through Friday, according to calculations by Bloomberg. That compares with a 40% surge in an equivalent portfolio of their U.S. peers Facebook Inc., Amazon.com Inc., Apple Inc., Microsoft Corp. and Google’s parent Alphabet Inc. (FAAMG).
Chinese technology shares just suffered from their worst week in more than four months, after the nation’s cyberspace regulator ordered app stores to remove Didi Chuxing and issued a sweeping warning to the nation’s biggest companies, vowing to tighten oversight of data security and overseas listings. Beijing has also proposed rules that would require nearly all companies seeking to list in foreign countries to undergo a cybersecurity review.
China Tech’s Stock Pain Shown in Widening Gap With U.S. Giants
Bloomberg 8 hrs ago Jeanny Yu
(Bloomberg) The gap between megacap technology stocks in China and the U.S. is at its widest in at least five years, as Beijing tightens its grip on some of the nation’s biggest companies.
An equal-weighted basket of China’s three internet giants collectively dubbed BAT Baidu Inc., Alibaba Group Holding Ltd. and Tencent Holdings Ltd. fell about 2% in the 12-months through Friday, according to calculations by Bloomberg. In contrast, an equivalent portfolio of their U.S. peers Facebook Inc., Amazon.com Inc., Apple Inc., Microsoft Corp. and Google’s parent Alphabet Inc. (FAAMG) surged 40%, resulting in a 42-percentage-point gap between the two groups.
Check out what s clicking on FoxBusiness.com.
ByteDance Ltd., the Chinese owner of popular short-video app TikTok, put on hold indefinitely its intentions to list offshore earlier this year after government officials told the company to focus on addressing data-security risks, people familiar with the matter said.
The Beijing-based social-media giant, last valued at $180 billion in a funding round in December, had been weighing an initial public offering of all or some of its businesses in the U.S. or Hong Kong, according to people familiar with the company’s plans.
But the company’s founder, Zhang Yiming, decided it would be wiser to put the plans on ice in late March, after meetings with cyberspace and securities regulators in which they asked the company to focus on addressing data-security risks and other issues, the people familiar with the matter said.