China's central bank to accept Ant's IPO bid
... every sector from online education to gaming. After a framework laid down by the central bank last year, Ant can fold key operations into the entity once it is able to set up the financial holding company. A meaningful relaxation of the curbs on Ant and Didi Global Inc. -- the most high-profile casualties of President Xi Jinping 's sweeping clampdown on the country's tech giants -- would send a powerful signal that policy makers are following through on recent pledges to support the industry. The Communist Party's ...
Updated: 06/17/2022
Fintech giant Ant’s IPO surge on news
... result of the crackdown. There are signs that Beijing is taking a more lenient stance after officials pledged to prop up the bruised sector. The Wall Street Journal reported this week that regulators are preparing to wrap up their investigation into Didi Global Inc. On Tuesday, China approved its second batch of games this year, an increase from 45 in the first batch. The easing in Covid lockdown measures at major cities and a string of better-than-expected earnings have helped boost sentiment, as Chinese tech ...
Updated: 06/09/2022
Chinese stocks on course for a third day of gains after gaming approvals
... fintech and even online education, Beijing has taken a more lenient line by introducing policies aimed at propping up the group and the Chinese economy. The Wall Street Journal reported that regulators are about to complete their investigation into Didi Global Inc. and restore the ride-hailing giant's main apps to mobile stores as soon as this week. Adam Montanaro , investment director at abrdn said the worst is behind us in terms of earnings and regulations. The gaming approvals are a continuation of the government's ...
Updated: 06/08/2022
China Tech Tech Tech Gains Still Stick Stick to Sell Off
... tracked by Bloomberg to issue a bearish call on China's tech shares, is sticking to his sell recommendation amid growing bets that a crackdown on the sector may be easing. Muehl said on June 7 that Chinese regulators are prepared to wrap up a probe into Didi Global Inc. , but I feel this is a bit premature and highly undifferentiated. It seems a bit too soon to jump to conclusions and expect the regulators to change other rules, which currently harms the companies in my coverage. The Didi report has sparked a flurry ...
Updated: 06/08/2022
Sources say Didi in talks with Sinomach Automobile for stake
... electric-vehicle making unit. Sources told Reuters that the talks for a stake in the small-sized automaker Sinomach Zhijun Automobile are in an advanced stage. One of the two sides said they have given themselves time to nail the deal, which is expected to see Didi Global Inc become the second-biggest shareholder of the EV maker after state-backed Sinomach Automobile . Chinese regulatory scrutiny hurt Didi's business and forced it to pursue a delisting from New York. Investors may be hopeful about its recovery after ...
Updated: 06/08/2022
After monthslong freeze, second batch of games approved
... reviewing new titles to determine if they meet stricter criteria on content and child protection, as well as slowing roll outs, according to Bloomberg News . The faster pace in game approvals comes after a report this week that China was preparing to allow Didi Global Inc.'s apps back on domestic app stores after completing a probe into the ride-hailing giant s operations. The news boosted Chinese tech stocks on broader hopes of easing regulatory oversight. None of Ukraine's Tactics Are Showing Smaller Countries How ...
Updated: 06/08/2022
US stocks up 2% as Amazon gains 2%
... fell 1.5% after billionaire Elon Musk said he might walk away from his buyout offer if the social media company doesn't provide data on spam and fake accounts. After a report that Chinese regulators are ending investigations into ride-hailing giant Didi Global Inc and two other firms, the US-listed shares of Chinese firms rallied. The KraneShares CSI China Internet ETF rose 4.7% and Didi Global gained 24.3%. Advancing issues outnumbered declining ones on the NYSE by a 1.29 to 1 ratio; on Nasdaq, a 1.01 to ...
Updated: 06/07/2022
European stocks rebound as China eases Covid curbs
... individual movers after HSBC Holdings Plc cut the stock to reduce from hold, citing corroded confidence. Prosus NV, a Tencent Holdings Ltd. shareholder, rallied after a Wall Street Journal report said China is preparing to conclude its investigation on Didi Global Inc. None of Ukraine's Tactics Are Showing Smaller Countries How to Fight Back None Oz Won by Ditching the Oprahverse for Trump and Planet Hannity, he won't be won by Oz Won by Ditching the Oprahverse for Trump and Planet Hannity. What are the best ways ...
Updated: 06/06/2022
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