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Search resuls for: "Jacky Wong"


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The Rise of Temu’s Chinese Parent Will Reshape E-Commerce
  + stars: | 2023-12-05 | by ( Jacky Wong | ) www.wsj.com   time to read: 1 min
Temu has 52 million monthly active users in the U.S., just a year after its launch. There’s a new online-shopping champion in China: PDD , the company behind discount-retailing app Temu, is now the country’s most valuable e-commerce company. After a 78% rise this year, PDD’s market value has hit $193 billion, snatching the crown from Alibaba. Though PDD’s revenue last quarter was still less than a third of Alibaba’s, it’s growing much faster. Revenue for the three months ended in September surged 94% from a year earlier—Alibaba’s only grew 9%.
Persons: Temu, Nikos Pekiaridis Organizations: Revenue, Alibaba, P Global Market Intelligence Locations: U.S, There’s, China, Alibaba
Shein Still Needs to Prove It’s a Bargain
  + stars: | 2023-11-28 | by ( Jacky Wong | ) www.wsj.com   time to read: 1 min
A wide range of apparel at affordable prices has made Shein a sensation. Photo: Adrienne Grunwald for The Wall Street JournalBuilt-in-China online fashion company Shein has swept the world with its fast-to-market, hip designs. It now needs to show investors that its breakneck growth can convert into bigger profit, too. The company is probably looking for a valuation higher than the $66 billion implied by a fundraising round in May. That would put Shein’s market value comfortably above H&M ’s $27 billion but below Zara’s parent Inditex ’s $127 billion.
Persons: Adrienne Grunwald, Shein Organizations: Wall Locations: China, Singapore, U.S
Will Livestreaming Be TikTok’s Amazon-Killer?
  + stars: | 2023-11-27 | by ( Jacky Wong | ) www.wsj.com   time to read: 1 min
TikTok is already a channel where hundreds of millions of young users discover new products. Photo: dado ruvic/ReutersTikTok is trying to tap in to shoppers in the U.S. So-called social shopping is already a huge phenomenon in Asia. Success isn’t guaranteed—and politics could intervene. But given how effectively TikTok has already disrupted the social-media landscape, U.S. e-commerce giants like Amazon should be watching their back.
Persons: TikTok, dado ruvic, Reuters TikTok, isn’t Organizations: Reuters Locations: U.S, Asia
Warren Buffett Is Going Big, Not Home, in Japan
  + stars: | 2023-11-21 | by ( Jacky Wong | ) www.wsj.com   time to read: 1 min
Warren Buffett’s Berkshire Hathaway has been tapping the Japanese market quite frequently. Photo: Scott Morgan/ReutersJapanese stocks are hovering around 33-year highs. Foreign inflows lured by better earnings and corporate governance reform have been a key driver. Breadcrumbs dropped by the oracle of Omaha are another. Warren Buffett , whose Berkshire Hathaway moved aggressively into Japanese shares in recent years, may be about to push further into the market.
Persons: Warren, Berkshire Hathaway, Scott Morgan, Breadcrumbs, Warren Buffett Organizations: Reuters Locations: Omaha, Berkshire
Jacky WongJacky Wong is a Heard on the Street columnist covering business and markets in Asia. Previously, he was a Market Talk Reporter for the Journal in Hong Kong. He started his career as a trader in BNP Paribas.
Persons: Jacky Wong Jacky Wong Organizations: BNP Locations: Asia, Hong Kong
Apple Had Better Watch Its Back in China
  + stars: | 2023-11-20 | by ( Jacky Wong | ) www.wsj.com   time to read: 1 min
Xiaomi is making a renewed push in the premium segment. Photo: Cfoto/Zuma PressSignals are finally getting stronger for the global smartphone market. Chinese handset makers like Huawei, which had been locked out of the race by U.S. sanctions, are dialing back in. That adds up to a tricky outlook for Apple in China, its second-largest revenue region after North America. Huawei’s Chinese rival Xiaomi , which reported third-quarter results Monday, is also making a renewed push in the premium segment— Apple ’s bread and butter.
Organizations: Zuma Press Signals, Huawei, Apple Locations: China, North America
Alibaba’s Spinoff Plans Fall to Earth
  + stars: | 2023-11-16 | by ( Jacky Wong | ) www.wsj.com   time to read: 1 min
Alibaba’s plan to spin off its cloud computing unit is running aground. Photo: Paul Yeung/Bloomberg NewsAlibaba ’s shareholders finally got their first dividend. But that may not be enough to compensate for hiccups in its spinoff plan and slowing growth. The Chinese e-commerce giant on Thursday announced its first annual dividend since going public in 2014. The company will dish out around $2.5 billion—but that translates to only a 1.1% dividend yield using Wednesday’s closing price.
Persons: Paul Yeung, Alibaba Organizations: Bloomberg, hiccups
It’s Too Soon to Bet on China’s Housing Turnaround
  + stars: | 2023-11-15 | by ( Jacky Wong | ) www.wsj.com   time to read: 1 min
Country Garden, once seen as one of China’s most stable property developers, is now struggling financially, leaving the future of unfinished megadevelopments like Malaysia’s Forest City in doubt. Here’s how overbuilding, and a streak of bad luck, have left China’s real-estate developers in the red. Photo: Adam AdadaChina’s troubled property market remains on shaky ground despite a raft of government policies to stabilize it—and a big jump in property developer stocks today. Beijing still needs much more forceful measures if it wants to turn around the market and stabilize the economy. They fell 3.7% year-over-year in the first 10 months of 2023, compared with a 3.2% decline in the first nine.
Persons: Adam Adada China’s Organizations: Malaysia’s Forest City Locations: Malaysia’s Forest, Beijing, China
Beauty Stocks Tell an Ugly Story About China
  + stars: | 2023-11-13 | by ( Jacky Wong | ) www.wsj.com   time to read: 1 min
Nov. 13, 2023 7:53 am ETChinese consumers have grown to become a significant part of global beauty companies’ earnings. Photo: CASEY HALL/REUTERSChinese consumers have been tightening their purse strings. Third-quarter retail sales data seemed to hint at a modest rebound in spending—but beauty stocks are telling a different story. That should give pause to investors hopeful that Chinese growth has bottomed.
Persons: CASEY Organizations: CASEY HALL, REUTERS
SoftBank Can’t Shake the Ghosts of Tech Booms Past
  + stars: | 2023-11-09 | by ( Jacky Wong | ) www.wsj.com   time to read: 1 min
SoftBank founder Masayoshi Son has described his decision to invest heavily in WeWork as ‘a stain on my life.’ Photo: Kiyoshi Ota/Bloomberg NewsThere seems to be no shortage of bad news for SoftBank this week. A new artificial-intelligence-driven tech boom could eventually be a tailwind for earnings. But the company’s latest results were a reminder of how much work the firm still has to do to convince investors that it will be a canny steward of their capital—and reliably hit enough home runs to offset its many strikeouts. The Japanese technology investor on Thursday reported a surprising loss: equivalent to $6.2 billion for the September quarter. Analysts on S&P Global Market Intelligence had expected, on average, a gain of around $1.2 billion.
Persons: Masayoshi Son, Kiyoshi Ota Organizations: Bloomberg, P Global Market Intelligence Locations: WeWork
A ‘Zelda’ Movie Could Mint Money for Nintendo
  + stars: | 2023-11-08 | by ( Jacky Wong | ) www.wsj.com   time to read: 1 min
Nintendo sold nearly 20 million copies of ‘The Legend of Zelda: Tears of the Kingdom’ after its May launch through September. Photo: ed jones/Agence France-Presse/Getty ImagesNintendo ’s Super Mario brothers smashed, jumped and climbed their way into box office fame. Now the Italian-American plumbers’ colleague Link is looking to make his mark too. For investors, that is great news: It shows Nintendo is taking its cue from the likes of Sony , which has managed a string of successful game-screen crossovers like “The Last of Us.”
Persons: Zelda, Mario, Link, Organizations: Nintendo, Agence France, Getty, Sony
It May Be Too Late to Fend Off China’s Battery Giants
  + stars: | 2023-11-07 | by ( Jacky Wong | ) www.wsj.com   time to read: 1 min
China is the world leader in processing lithium and it is making major, risky investments to secure raw lithium in Latin America and Africa. Now, the U.S. is trying to develop its own supply to reduce its reliance on China. Photo illustration: Jamie LeventhalHaving charged up in their massive home market, Chinese electric-vehicle-battery firms are becoming major export players, too. The West’s efforts to protect its own markets might prove too little, too late. Chinese firms are also eyeing big new factory expansions in Europe itself, and in U.S. free trade partners, as a way to sidestep current and future import restrictions—much like Japanese carmakers did in the U.S. in the 1980s.
Persons: Jamie Leventhal Locations: China, America, Africa, U.S, Europe
Yield Curve Control Joins the Living Dead
  + stars: | 2023-10-31 | by ( Jacky Wong | ) www.wsj.com   time to read: 1 min
The Bank of Japan has effectively ended its policy of capping 10-year government bond yields at 1%. Photo: ISSEI KATO/REUTERSJapan’s Halloween tweak to its monetary policy didn’t go as far as some yen bulls had hoped. But a stronger yen could still eventually spook global markets—especially if rising U.S. rates keep forcing the Bank of Japan ’s hand. The Bank of Japan effectively abandoned its policy of capping 10-year government bond yields at 1% on Tuesday, saying that level will now be a reference only. But the central bank also said it would conduct “nimble market operations” in response to developments in economic and financial conditions.
Persons: ISSEI KATO, didn’t Organizations: Bank of Japan, REUTERS, Bank of Locations: Bank of Japan
China’s slowing economy could soon become a major talking point for U.S. companies as they begin to report third-quarter earnings. Illustration: Elizabeth SmelovChina’s surprise investigation into Apple supplier Foxconn, a key link in the iPhone supply chain, may be intended to send a message. The one Apple and its suppliers actually receive might do China more harm than good. Chinese authorities have launched tax and land-use probes into subsidiaries of Foxconn , formally known as Hon Hai Precision Industry , the company confirmed last week. That is surprising since Foxconn, which is the world’s largest contract electronics manufacturer, has long had an amicable relationship with China—and is one of the biggest employers in the country.
Persons: WSJ’s Dion Rabouin, Elizabeth Smelov China’s Organizations: Apple, Foxconn, Hai Precision Industry Locations: China
KKR’s Chip Play Will Win Big in Japan
  + stars: | 2023-10-24 | by ( Jacky Wong | ) www.wsj.com   time to read: 1 min
Kokusai Electric’s technology and manufacturing center in Toyama, Japan. Photo: Soichiro Koriyama/Bloomberg NewsPrivate-equity giant KKR has scored a win in Japan, and with a chip price rebound probably around the corner, their timing looks impeccable. Semiconductor equipment maker Kokusai Electric will start trading Wednesday in Tokyo after raising around $720 million in an initial public offering last week. Kokusai is valued at $2.8 billion at its IPO price, potentially netting KKR a return of more than 60% in Japanese yen terms, excluding leverage. Kokusai unloaded its video and communications systems business after KKR’s takeover.
Persons: Soichiro Koriyama Organizations: Bloomberg, Private, KKR, Semiconductor, Kokusai, Dealogic, Hitachi — Locations: Toyama, Japan, Tokyo
Hong Kong’s Financial-Sector Feast Turns to Famine
  + stars: | 2023-10-20 | by ( Jacky Wong | ) www.wsj.com   time to read: 1 min
China’s slowing economy could soon become a major talking point for U.S. companies as they begin to report third-quarter earnings. WSJ’s Dion Rabouin explains. Illustration: Elizabeth SmelovHong Kong’s lackluster stock market epitomizes the challenges that the city is grappling with—China’s economic slowdown, which looks increasingly structural, and Beijing’s tightened grip on the semiautonomous city. Neither issue looks likely to disappear soon, although China’s economy could improve a bit cyclically next year. Weak third-quarter results released Friday by Hong Kong Exchanges and Clearing —the market’s owner and operator—are the latest sign of how entrenched the city’s problems have become.
Persons: WSJ’s Dion Rabouin, Elizabeth Smelov Hong Organizations: Hong Kong Exchanges Locations: semiautonomous
TSMC Thinks the Turn in the Chip Cycle Is Nigh
  + stars: | 2023-10-19 | by ( Jacky Wong | ) www.wsj.com   time to read: 1 min
A wafer shown on screens at the TSMC Renovation Museum. Photo: sam yeh/Agence France-Presse/Getty ImagesThe world’s largest contract chip manufacturer thinks a turnaround in the semiconductor market is finally near. Demand related to artificial intelligence will also be a long-term boost—one that is already bumping up against supply constraints. The inventory buildup in the semiconductor supply chain has weighed on Taiwan Semiconductor Manufacturing Co. for the past few quarters. But both came out ahead of analysts’ forecasts on S&P Global Market Intelligence.
Organizations: Agence France, Taiwan Semiconductor Manufacturing, P Global Market Intelligence
Memory-Chip Stocks Can Ride the AI Gravy Train, Too
  + stars: | 2023-10-16 | by ( Jacky Wong | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/tech/memory-chip-stocks-can-ride-the-ai-gravy-train-too-a012638d
Persons: Dow Jones
China’s Golden Week Doesn’t Glitter
  + stars: | 2023-10-09 | by ( Jacky Wong | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/world/asia/chinas-golden-week-doesnt-glitter-bd5fbfb6
Persons: Dow Jones Locations: asia
The Robots Are Coming—to Collaborate With You
  + stars: | 2023-10-06 | by ( Jacky Wong | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/business/the-robots-are-comingto-collaborate-with-you-d870282e
Persons: Dow Jones
The Robots are Coming—to Collaborate With You
  + stars: | 2023-10-05 | by ( Jacky Wong | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/business/the-robots-are-comingto-collaborate-with-you-d870282e
Persons: Dow Jones
Macau Casinos Get Their Mojo Back
  + stars: | 2023-10-04 | by ( Jacky Wong | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/business/hospitality/macau-casinos-get-their-mojo-back-1bf17d06
Persons: Dow Jones Locations: macau
Higher Rates Are Supercharging Japan’s Banks
  + stars: | 2023-09-22 | by ( Jacky Wong | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/economy/central-banking/higher-rates-are-supercharging-japans-banks-6ba05cfa
Persons: Dow Jones
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/economy/central-banking/the-yuan-and-yen-need-the-feds-help-they-might-not-get-it-a31f5674
Persons: Dow Jones
China’s Moutai Wants to Satisfy All Your Cravings
  + stars: | 2023-09-18 | by ( Jacky Wong | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/business/retail/chinas-moutai-wants-to-satisfy-all-your-cravings-3abe2a9c
Persons: Dow Jones
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