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Hong Kong shares track overnight Wall Street gains; material, tech stocks shine

HSI +1.4%, HSCE +1.3%, CSI300 +0.8%
FTSE China A50 +0.5%
BEIJING, April 14 (Reuters) - Hong Kong shares ended higher on Wednesday, led by material and tech stocks, following overnight Wall Street gains after data showed U.S. inflation was not rising wildly as the economy reopens. At the close of trade, the Hang Seng index was up 403.58 points or 1.42% at 28,900.83. The Hang Seng China Enterprises index rose 1.37% to 10,999.3. The sub-index of the Hang Seng tracking IT sector rose 2.47%, materials ended 4.29% higher and the property sector gained 1.56%. Global stock markets on Wednesday rose to a record high as bond yields eased after data showed U.S. inflation was not rising wildly as the economy reopens. The U.S. consumer price index rose 0.6%, the biggest increase since August 2012, data showed, as rising vaccinations and fiscal stimulus unleashed pent-up demand. Investors also cheered tech stocks in Hong Kong, as a dozen internet platform companies, i ....

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Breakingviews - China's Alibaba slap offers clues to hit Amazon

Breakingviews
3 Min Read
The logo of Amazon is seen at the company logistics centre in Boves, France, January 19, 2019. REUTERS/Pascal Rossignol
WASHINGTON (Reuters Breakingviews) - Alibaba’s, $2.8 billion fine from the Chinese antitrust watchdog ought to worry U.S. rival Amazon.com. Beijing’s case against Jack Ma’s e-commerce giant shows it’s possible to define the market and single out data usage in ways that American regulators haven’t yet managed to do, but could.
Big U.S. technology firms have eluded regulators for several reasons. One is that in trying to pinpoint market abuse, watchdogs first have to agree what that market is. Even that isn’t simple. Last year, Bezos told Congress that his company competes in the overall retail market, where it has less than 4% market share in the United States. But in e-commerce, it has 40% of sales, compared to No. 2 Walmart with 7%, according to eMarketer. ....

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More than 100 companies sign letter opposing U.S. state voting restrictions

By Reuters Staff
3 Min Read
(Reuters) -More than 100 U.S. companies including Apple Inc, Amazon.com Inc, Ford Motor Co and Starbucks Corp have declared their opposition to voting curbs that a number of states are considering implementing.
FILE PHOTO: Voters cast their ballots in Georgia’s Senate runoff elections at a Fulton County polling station in Atlanta, Georgia, U.S. January 5, 2021. REUTERS/Elijah Nouvelage/File Photo
Activist groups say the restrictions - outlined in voting rights bills already passed in Georgia and being weighed in, among others, Texas and Arizona - are specifically targeting Black people and other racial minorities. ....

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Amazon aims to double U.S. Black employees in leadership this year

By Reuters Staff
1 Min Read
FILE PHOTO: The logo of Amazon is seen at the company logistics centre in Boves, France, August 8, 2018. REUTERS/Pascal Rossignol/File Photo
(Reuters) - Amazon.com said on Wednesday it was aiming to double the number of Black employees in senior leadership roles and hire 30% more Black people as corporate employees in the United States this year.
Amazon data shows U.S. Black employees in leadership roles accounted for 3.8% last year.
The Seattle-based firm is also targeting to have 30% more women in tech and science related senior leadership roles in 2021.
A manager at the online retailer sued the firm last month for harassment and discrimination, saying it hires Black people for lower positions and promotion comes later for them than white workers. ....

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China warns online platform companies to halt anti-competitive practices

China's market regulator, fresh from fining e-commerce giant Alibaba $2.75 billion, said on Tuesday it had warned nearly three dozen internet "platform" companies to stop using any banned practices such as forcing vendors to use their platform exclusively. ....

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