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10 mentions found


☆ ‘No challenges can stop China’s progress,’ Xi Jinping says in 75th anniversary speech
  + stars: | 2024-10-01 | by ( Evelyn Cheng | Evelyn Cheng Is A Senior Correspondent With Cnbc. | ) www.nbcnews.com   time to read: +3 min
BEIJING — Chinese President Xi Jinping said Monday that no challenges can stop the country from moving forward and reiterated Beijing’s reunification aims with Taiwan. “The path ahead will definitely see challenges,” Xi said, before calling on the country to overcome uncertainties and risks. “No challenges can stop China’s progress.”The comments were translated by CNBC from a Chinese state media broadcast. Xi did not mention specific countries or trade conflicts in his Monday speech, instead portraying China as upholding globalization. In a 2019 speech commemorating the PRC’s 70th anniversary, Xi had said that no force could sway China’s development, amid festivities involving a military parade and large-scale celebrations.
Persons: Xi Jinping, ” Xi, Xi, Beijing’s, “, ” Organizations: CNBC, Communist Party’s, Macao —, People’s Bank of, Ministry of Finance Locations: BEIJING, Taiwan, People’s Republic of China, Beijing, China, U.S, Europe, Greater China, Hong Kong, Macao, People’s Bank of China
☆ Macao did it. Singapore too. Now Thailand looks to build casinos to attract tourist dollars
  + stars: | 2024-09-02 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com   time to read: +2 min
Thailand is working on a new game plan to boost foreigner arrivals and increase tourism spending: casinos. The strategy has worked for Macao — which has overtaken Las Vegas as the world's largest gambling hub — and Singapore, with two successful 14-year-old casinos. If Thailand's draft bill gets passed into law, the country could be Macao and Singapore's largest competitor by the end of the decade, industry watchers told CNBC. If the law gets passed, Thailand's casinos could generate 187 billion Thai baht ($5.5 billion) in revenues, or 1% of the country's GDP, according to Maybank research. The Thai economy grew 1.9% in 2023, and is expected to grow 2.7% this year, the finance ministry said.
Persons: Ben Lee, —, Lee, Srettha Thavisin, Paetongtarn Shinawatra, Yin Shao Yang Organizations: Macao, Las Vegas, CNBC, IGamiX Management, Consulting, Tourism, Thai, Investment Bank Locations: Pattaya, Thailand, Singapore, Macao, Macau
☆ Apple, Tesla and Starbucks struggle in China’s economic slump after making a fortune for decades
  + stars: | 2024-05-13 | by ( Laura He | ) edition.cnn.com   time to read: +8 min
Hong Kong CNN —For decades, Western companies made a fortune betting on the inexorable rise of the Chinese consumer. Now an economic slump and the emergence of ferocious local competitors means those bets look less safe as price wars erupt. Tesla’s China market share shrank to 4% in April, almost halving from 7.7% in March, according to data released by the China Passenger Car Association on Friday. In the 1990s, “every company in the West” was hiring consultants and having boardroom meetings about how to do more in China, according to Stevenson-Yang. He added that he continues to feel optimistic about the Chinese market in the long term.
Persons: ”, Anne Stevenson, Yang, Stevenson, aren’t, Yang Wang, Kevin Frayer, Tim Cook, iPhones, Cotti, Luckin, Belinda Wong, “, McDonald’s, Wallace Organizations: Hong Kong CNN, China Passenger Car Association, J Capital Research, EV, Apple, Starbucks, Counterpoint Research, Macao —, Huawei, China Academy of Information, Communications Technology, Luckin Coffee, McDonalds, KFC, Burger Locations: China, Hong Kong, Shanghai, United States, Germany, Brazil, Beijing, Greater China, Taiwan, Macao, Starbucks China, Dominos, India
☆ China's sluggish economic recovery has weighed on key Club stocks. Here's why we're holding on
  + stars: | 2023-08-31 | by ( Paulina Likos Morgan Chittum | Paulina Likos | Morgan Chittum | ) www.cnbc.com   time to read: +7 min
And, in the meantime, our China-focused names are poised to ride out the storm, while finding alternate routes to growth. Beyond the housing-sector woes, manufacturing activity is shrinking, a youth unemployment crisis is a ballooning, and consumer spending remains sluggish. With these macroeconomic headwinds holding back growth for some of the Club's key holdings, here's why we're sticking with these China-exposed names — and how each is responding. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .
Persons: Jim Cramer, Lauder, Estee Lauder, we're, Tim Cook, That's, Bernstein, WYNN, Wynn, Stifel, Jim Cramer's, Jim, Yan Daming Organizations: Wall, Research, CNBC, Big Tech, Starbucks, Wynn Resorts, WYNN, Wynn, Visual China, Getty Locations: China, Beijing, Asia, Pacific, Hainan, India, Taiwan, Hong Kong, Americas, Europe, U.S, Macao, Wynn, Nanjing, Shanghai
☆ OCBC looks to ASEAN-China links to achieve additional $2.2 billion in revenue by 2025
  + stars: | 2023-07-04 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOCBC looks to ASEAN-China links to achieve additional $2.2 billion in revenue by 2025CEO Helen Wong expects trade links between ASEAN and the Greater China region — including Hong Kong and Macao — to grow, benefiting OCBC which has a sizable presence in the region.
Persons: Helen Wong Organizations: ASEAN Locations: ASEAN, China, Greater China, Hong Kong, Macao
☆ OCBC is looking to Greater China and Southeast Asia for a $2.2 billion boost in revenue
  + stars: | 2023-07-04 | by ( Lim Hui Jie | ) www.cnbc.com   time to read: +1 min
Singapore's Oversea-Chinese Banking Corporation has set its sights on "longer term opportunities" in Greater China and Southeast Asia and expects the strategy to bring an additional revenue of $2.2 billion by 2025, CEO Helen Wong told CNBC on Monday. Southeast Asia's second largest bank announced Monday that it will be unifying its brand across its core markets in Greater China — which includes Hong Kong and Macao — as well as Southeast Asia. "If you look at macro trends, Greater China and ASEAN together is going to continue to contribute more to the world's GDP growth," Wong told CNBC, referring to the 10-nation Association of South East Asian Nations bloc. "If you look at the trade numbers for the last four years, China and ASEAN — they're growing at a CAGR of 13%," she added. As such, while the OCBC has seen slowing economic growth in some countries in the region, Wong said she's confident it will be able to capture growth as it "puts our act together."
Persons: Singapore's Oversea, Helen Wong, Wong Organizations: Chinese Banking Corporation, CNBC, Macao —, Association of South East Asian Nations, ASEAN —, ASEAN Locations: Greater China, Southeast Asia, Asia's, Hong Kong, Macao, China, ASEAN
☆ Wells Fargo upgrades Wynn Resorts, says China reopening will help casino stock
  + stars: | 2023-01-03 | by ( Alex Harring | ) www.cnbc.com   time to read: +2 min
Wynn Resorts should rally as China moves closer to a full reopening, according to Wells Fargo. Wells Fargo analyst Daniel Politzer upgraded the stock to overweight from equal weight. "We have long held the view that Macau's recovery remains the key driver of WYNN's stock," Politzer said in a note to clients Monday. "For the first time in several years, we see better days ahead as China is pivoting from its COVID-zero strategy and easing travel restrictions." Politzer said rising Covid cases or reinstated travel restrictions could also threaten growth.
☆ Global stocks tumbled last week — but these names bucked the trend
  + stars: | 2022-12-12 | by ( Weizhen Tan | ) www.cnbc.com   time to read: +1 min
Global stocks ended up with weekly losses as worries over continued interest rate hikes persisted. The MSCI World index lost 2.56% last week, following Wall Street's trajectory . But the following stocks under the MSCI World index stood out for their weekly gains, according to FactSet data. Hong Kong-listed stocks had a good week in particular, as a local news outlet reported the city is considering easing Covid measures further. The stock stood out for winning a "buy rating" from all analysts covering it — and being given a 67.8% average upside to price target.
☆ Three pharmaceutical stocks were last week's top performers — and analysts gave one 40% upside
  + stars: | 2022-12-05 | by ( Weizhen Tan | ) www.cnbc.com   time to read: +2 min
Global stocks rose last week, tracking U.S. stocks as Wall Street's major indexes closed with weekly gains. The MSCI World index was up about 1% over the week, and all three U.S. indexes also set weekly gains , with the Nasdaq posting the largest increase. Pharmaceutical stocks had a good week, with three — Horizon Therapeutics , Catalent and Alnylam Pharmaceuticals — making big gains. Of all three, Catalent got the highest upside (40%) from analysts — getting a buy rating from 56% of those covering the stock. U.S. media and internet company IAC was one top weekly performer, with the highest upside given by analysts — at 60%.
☆ How we're thinking about our Club stock exposure to China following Covid protests
  + stars: | 2022-11-28 | by ( Kevin Stankiewicz | ) www.cnbc.com   time to read: +7 min
Global stocks slumped Monday on growing concerns about intensifying protests across China over the communist government's strict Covid policies. Apple (AAPL) — Revenue from China : 17.7% (China is the iPhone maker's second-largest market, lagging just the U.S. at 37.5% of sales.) Disney (DIS) — Revenue from China: 4.8% Devon Energy (DVN) — Revenue from China: 0% Estee Lauder (EL) — Revenue from China: 29.7% (China is the cosmetic giant's largest sales market, followed by the U.S. at 19.8%, per FactSet.) Ford Motor (F) — Revenue from China: 4.6% Alphabet (GOOGL) — Revenue from China: 3.8% Halliburton (HAL) — Revenue from China: 1.6% Honeywell International (HON) — Revenue from China: 4.2% Humana (HUM) — Revenue from China: 0% Johnson & Johnson (JNJ) — Revenue from China: 3.1% Eli Lilly (LLY) — Revenue from China: 5.7% Linde (LIN) — Revenue from China: 8.1% Meta Platforms (META): Revenue from China: 2.6% Morgan Stanley (MS) — Revenue from China: 2.6% Microsoft (MSFT) — Revenue from China: 12.4% Nvidia (NVDA) — Revenue from China: 25.8% — keep in mind: Nvidia's revenue is not attributed to the country in which the consumer buys a product that contains one of the company's semiconductors. Procter & Gamble (PG) — Revenue from China: 13.7% (China is P & G's second-largest sales market, with the U.S. accounting for 45.5% of revenue).
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