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BBCNEWS Asia Business Report June 4, 2024 01:31:00

All of that bodes well for walmart which is forecast to report a 4% rise in sales. results from the world s largest retailer should also offer a glimpse into demand for back to school items. traders are hoping that, despite higher borrowing costs, it will show that us shoppers are still willing to spend on essentials. staying with retail, jd.com beat analysts forecast for second quarter revenue which rose more than 7% to nearly $40 billion. the chinese e commerce giant s focus on lower priced products paid off in the fight for customers amid an economic slowdown. the company said it attracted more vendors to its platform and its users shopped more frequently as it product range expanded. it was a different story however for tencent where earning results came in below estimates in the second quarter. revenue grew 11% to just over $20 billion. ....

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BBCNEWS Asia Business Report June 4, 2024 01:32:00

Tencent s core gaming business experienced weaker than expected growth. domestic gaming revenue was little changed, a sign that the economic slowdown in china has hurt the tech giant s recovery from a record slump last year. well, let s turn to us government bonds, which are typically considered a safe haven investment. well, demand for those bonds, commonly known as us treasuries has held up, despite a downgrade by fitch ratings agency at the start of the month. and a report by moody s investors service calling china and japan have typically been some of the biggest foreign buyers of us treasuries, and that has helped to fund the massive us debt pile. earlier i spoke to fixed income expert stephen major, who told me the downgrade has had little impact on the global economy. so far there s not been that much of an impact. and you re right, there s still plenty of demand for us treasuries. i guess it might be a bit of a nudge for all of the authorities involved in the us to get the hous ....

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