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☆ Is it time to invest in China? Two pros share their views
▼ + stars: | 2024-10-09 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +4 min

As investors consider whether — and how — to invest in China, two experts share their views on the market right now. "We believe the scale and focus of these measures, particularly the targeted liquidity injection, address the critical issue of insufficient domestic capital flows into China's stock market. 'China is no longer cheap' Lorraine Tan, director of Asia's equity research at Morningstar, is more cautious looking ahead. "At this point in time, China markets are no longer cheap. Stocks on her radar include "higher quality, moaty names," such as fast-food restaurant chain Yum China Holdings and property developer China Resources Land .

Persons: Jingwei Chen, —, Europe —, Chen, Lorraine Tan, Tan, Stocks, — CNBC's Lim Hui Jie Organizations: National, Reform Commission, CSI, Wall, Wrise Private Singapore, CNBC Pro, Companies, BYD, Tencent Holdings, Morningstar, China Holdings, China Resources Locations: China, Asia, East, Europe, Hong Kong

☆ Hedge fund billionaire David Tepper says he's loading up on Chinese stocks after the nation's stimulus bazooka
▼ + stars: | 2024-09-26 | by ( Matthew Fox | ) www.businessinsider.com time to read: +5 min

David Tepper is growing even more bullish on Chinese stocks amid the nation's new fiscal stimulus measures. Tepper views China's stock market as more attractive than the US stock market due to valuation differences. AdvertisementIt's a buy "everything" moment for Chinese stocks after the country launched a fiscal stimulus bazooka this week, according to billionaire investor David Tepper. But Tepper believes Chinese stocks have plenty of room to run higher, even after the recent surges. On US markets, Tepper said he is not following his buy "everything" mantra with Chinese stocks and is being more selective in buying US stocks.

Persons: David Tepper, Tepper, —, Pan Gongsheng, Donald Trump, he's Organizations: Service, CNBC, Fed, Federal, People's Bank of China, PDD Holdings, Tencent Holdings, Management, Wynn Resorts, Vegas Sands, Baidu, China Internet Locations: China, Vegas

☆ A china stock poised for a breakout amid this stimulus rally, according to the charts
▼ + stars: | 2024-09-26 | by ( ) www.cnbc.com time to read: +4 min

The Chinese central bank unrolled the most significant stimulus program since the COVID-19 pandemic and Chinese equities are starting to show signs that the long history of underperformance relative to western equities could possibly be on borrowed time. The name that has already demonstrated leadership that we want to focus on should this move into Chinese names continues is Tencent Holdings (TCEHY) . Before we get further into the company specifics it's important to reiterate that Chinese equities have under-performed U.S. equities since 2007. The goal of the program according to Chinese officials is to return the economy to a 5% growth rate. Turning to the focus company Tencent Holdings (TCHEY) is a multinational technology conglomerate listed on the Hong Kong exchange since 2004.

Persons: TCHEY, Todd Gordon, Gordon Organizations: Tencent Holdings, People's Bank of China, Hong, Inside Edge, CNBC, NBC UNIVERSAL Locations: China, Hong Kong

☆ China's latest stimulus boosts emerging-market stocks to the highest level in 2 years
▼ + stars: | 2024-09-24 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

The boost comes shortly after China introduced a swath of new stimulus measures to prop up its sluggish economy and boost domestic demand. AdvertisementThe new stimulus measures also boosted China's CSI 300 of Shanghai- and Shenzhen-listed shares, with the index closing 4.3% higher on Tuesday in its best day in four years. And the Stoxx Europe 600 index climbed as much as 0.9%, led by luxury stocks amid hopes that sluggish Chinese consumer spending will rebound. Yet, some analysts remain wary that China's stimulus measures won't have drastic enough impacts to actually rescue the country from its economic woes. AdvertisementIn recent months, China's economy has struggled to escape weak consumer sentiment and continues to face a struggling property sector.

Persons: —, Yingrui Wang, Goldman Sachs Organizations: Service, Tencent Holdings, Alibaba, Holding, Business, CSI, US Federal Reserve, AXA Investment Locations: Hong Kong, China, Shanghai, Shenzhen, Europe

☆ After a busy week of stock trades, we're looking ahead to some key inflation data
▼ + stars: | 2024-08-11 | by ( Morgan Chittum | ) www.cnbc.com time to read: +5 min

Looking back, quarterly earnings also played a key role in big stock moves for the portfolio. Looking ahead, we'll see an update on some key inflation data, plus a closer look at the state of the housing and retail sectors. ET: Producer Price Index Earnings: Home Depot (HD), Pandora (PANDY), Nu Holdings (NU), Sea Limited (SE) Wednesday, August 14 8:30 a.m. ET: Consumer Price Index Earnings: Tencent Holdings (TCEHY), Cisco (CSCO), UBS (UBS), JD.com (JD) Thursday, August 15 8:30 a.m. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Eli Lilly, Walt, Jim Cramer, we've, JD.com, Jim Cramer's, Jim, Spencer Platt Organizations: Dow Jones, Dow, Nasdaq, Walt Disney, Microsoft, Ford Motor, Wynn Resorts, DuPont, Devices, Procter, Gamble, Club, Abbott Laboratories, Federal, Traders, Sun Life, Nu Holdings, Sea, Tencent Holdings, Cisco, UBS, Philadelphia Fed, Walmart, Materials, Deere & Co, Ross Stores, Lenovo, Housing, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: U.S, Dover, Wells Fargo, Nextracker, Eaton

☆ Goldman Sachs added these global stocks to its 'conviction' lists
▼ + stars: | 2024-07-04 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +2 min

Goldman Sachs has refreshed its lists of top global stock picks for July, adding some and removing others. The stocks are featured in the investment bank's "Conviction List - Directors' Cut" which seeks to offer investors a "curated and active" list of 15 to 25 buy-rated stocks. Stocks on the list are selected by a subcommittee designated by the bank's Investment Review Committee for each region. "The subcommittee will collaborate with each sector analyst to identify top ideas that offer a combination of conviction, a differentiated view and high risk-adjusted returns," Goldman Sachs said. The investment bank's analyst Ben Andrews expects the company's organic growth and margins to surpass consensus estimates.

Persons: Goldman Sachs, Ronald Keung, Keung, Goldman, Ben Andrews, — CNBC's Michael Bloom Organizations: bank's Investment, Tencent Holdings China, HK, Hong Kong Stock Exchange, U.S, ISS, Copenhagen Stock Exchange Locations: Asia, Pacific, Europe, Danish, U.S

☆ This ETF aims to capture China's own 'Magnificent Seven'
▼ + stars: | 2024-05-22 | by ( Emily Glass | ) www.cnbc.com time to read: +1 min

Roundhill Investments wants to mimic the success of its Magnificent Seven ETF (MAGS) in China. The firm's CEO Dave Mazza plans to launch the Lucky Eight ETF, which aims to be China's answer to the success of Wall Street's big tech stocks. "There's a lot of question marks about the Chinese economy and the potential for growth of the consumer in China," Mazza told CNBC's "ETF Edge" on Monday. Trading under the ticker "LCKY," the Lucky Eight ETF will include equal-weighted exposure to Tencent Holdings, Alibaba , Meituan , BYD , Xiaomi, PDD Holdings , JD.com and Baidu at launch. Pending SEC approval, the Lucky Eight ETF is set to launch this summer.

Persons: Dave Mazza, Wall, Mazza, CNBC's Organizations: Roundhill Investments, Tencent Holdings, PDD Holdings, JD.com, Baidu, SEC, CSI China Internet, Lucky Locations: China

☆ This Chinese tech fund is still a contrarian play after solid start to the year, Josh Brown says
▼ + stars: | 2024-05-02 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

The rebound in Chinese tech stocks still has plenty of doubters, but shares could continue to climb, according to Ritholtz Wealth Management CEO Josh Brown. The fund has rallied in 2024 so far following three straight years of losses, and Brown said Thursday that the sentiment had gotten way too negative on Chinese stocks. KWEB 5Y mountain The KWEB fund is up in 2024 after several years of losses. As the full fund name implies, KWEB is not a broad index fund of the Chinese market. Instead, it focuses on growth-oriented tech stocks.

Persons: Josh Brown, Brown, Jim Grant, KWEB Organizations: Ritholtz Wealth, CNBC, CSI China Internet, Tencent Holdings Locations: United States, China

☆ Hong Kong shoppers are crossing the border into Shenzhen to buy croissants and rotisserie chickens at China's newest Costco
▼ + stars: | 2024-03-05 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +4 min

The store's popularity is driven by Hong Kong residents crossing the border to shop in mainland China. Xinhua News AgencyLarge bulk stores are a rarity in Hong Kong due to the city's limited space and expensive culture. AdvertisementHong Kong's economic struggles, however, have created the perfect circumstances for Shenzhen Costco to thrive. Costco has organized several shuttle buses each day that run between the Shenzhen store and Hong Kong, according to a company spokesperson. Costco is also partnering with cross-border delivery companies that pack and ship items purchased by Hong Kong residents.

Persons: — Organizations: Costco, Service, Xinhua, Agency, Hong, Shenzhen Costco, Bloomberg, Tencent Holdings, Pay Locations: Shenzhen, China, Hong Kong, Costco, Guangdong Province, Guangdong Province of China, Taiwan

☆ Nvidia's investment in startups has nearly tripled as other tech heavyweights pull back
▼ + stars: | 2024-01-31 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Nvidia's blowout performance last year has helped cement the firm as a rising star in corporate venturing, with the chipmaker's startup investments having nearly tripled in 2023, S&P Global reported on Tuesday. Pullbacks also extend to other firms that are historically leaders in corporate venturing, such as SoftBank Group and Tencent Holdings. The total value of rounds surpasses $5 billion, S&P Global cited. The firm's 2022 termination of a deal to acquire Arm Holdings suggests that bigger M&A deals are off the table, S&P Global said. For 2024, the chipmaker doesn't seem to be slowing down; its already announced three startup investments, S&P Global said.

Persons: Pullbacks, Nvidia's Organizations: P Global, Microsoft, Facebook, Business, SoftBank, Tencent Holdings, IBM, Amazon, Nvidia, Arm Holdings, Healthcare

☆ Tencent's Riot Games division cuts 11% of staff to 'create focus'
▼ + stars: | 2024-01-22 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Tencent's Riot Games unit said Monday it's eliminating 11% of its workforce, or about 530 jobs, and scaling back on its division that publishes games from small developers. Eric Shen will become Legends of Runeterra's executive producer, replacing Dave Guskin, accroding to a blog post from Guskin, who said he'll work on other Riot games. Tencent, based in China, invested in Riot Games in 2011 and became its outright owner four years later. In September, Tencent-backed Epic Games announced it was cutting 16% of its staff. Shares slid 12% in late December after China announced new rules designed to limit excessive gaming.

Persons: Ma, we've, Dylan Jadeja, that's, Nicolo Laurent, Eric Shen, Dave Guskin, Jadeja, Tencent's, Tencent Organizations: Tencent Holdings Ltd, Tencent's, Google, League of, Riot Games, Microsoft, Activision Blizzard, Sony, Epic Games, China Locations: Guangdong, Hong Kong, Macao, Bay, China, Guskin, Forge, Los Angeles, Tencent

☆ China's Xi Urges Stronger Rule of Law Overseas Amid 'External Risks'
▼ + stars: | 2023-11-28 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +2 min

BEIJING (Reuters) - President Xi Jinping has called for stronger rule of law related to foreign affairs given "external risks and challenges" as China opens up to the outside world, state media reported on Tuesday. Xi, speaking during a study session of the Communist's Party's powerful political bureau, said that to protect its overseas citizens and interests, it was necessary to deepen international cooperation on law enforcement, strengthen consular protection and assistance, and build strong rule of law. To facilitate economic and trade exchanges, authorities say Chinese law firms have set up 180 overseas offices in 35 countries and regions, an increase of nearly 50% since 2018. China needs to actively develop foreign-related legal services and cultivate world-class arbitration institutions and law firms, Xi said. China says such centres are meant to help its citizens renew expired driving licences, and are run by Chinese volunteers, not law enforcement officers.

Persons: Xi Jinping, Xi, Ryan Woo, Robert Birsel Organizations: Tencent Holdings, Alibaba Locations: BEIJING, China, Nepal, U.S, Canada, Britain, Netherlands, Beijing, Ukraine, Sudan

☆ ByteDance to wind down Nuverse in full retreat from gaming -sources
▼ + stars: | 2023-11-27 | by ( Josh Ye | ) www.reuters.com time to read: +2 min

The ByteDance logo is seen at the company's office building in Shanghai, China, July 4, 2023. The Chinese technology firm has no plan to return to the $185 billion global video games market, said the people, who declined to be identified as the information is not public. Casual gaming brand Ohayoo, whose games feature on Douyin - TikTok's sister app in China - will not be affected, neither will casual games that run on TikTok, one of the people said. ByteDance's 2019 creation of Nuverse was widely seen as a major push into global gaming and a strategic element of its competition with domestic rival Tencent Holdings (0700.HK), the world's biggest gaming company. Nuverse came into focus again in 2021 when ByteDance formalised its status as one of its six business units under a broader structural overhaul.

Persons: Aly, Will, ByteDance, Pico, Nuverse, Josh Ye, Brenda Goh, Christopher Cushing Organizations: REUTERS, Reuters, Moonton Technology, Tencent Holdings, HK, C4games, Thomson Locations: Shanghai, China, HONG KONG

"Investors had hoped to receive separate shares of the cloud business in hopes the segment could achieve a higher multiple in the public markets due to its growth potential." The company then appointed Eddie Wu, one of Alibaba Group's co-founders and long-time lieutenant of former chief Jack Ma, as both CEO of Alibaba and the cloud business. Instead the group would focus on growing the cloud business and providing investment for its AI drivers, he said. [1/2]3D printed clouds and figurines are seen in front of the Alibaba Cloud service logo in this illustration taken February 8, 2022. Alibaba International Digital Commerce, a business that includes platforms such as Lazada and AliExpress, however reported a 53% rise in revenues, with retail revenue up 73% year-on-year.

Persons: Cainiao, Thomas Hayes, Alibaba's, Daniel Zhang, Eddie Wu, Alibaba Group's, Jack Ma, Zhang, Joseph Tsai, Tsai, Wu, Dado Ruvic, Alibaba, Akash Sriram, Brenda Goh, Sam Holmes, Arun Koyyur, Jane Merriman Organizations: Alibaba, HK, Tencent Holdings, Alibaba's, Investors, Analysts, Cloud Intelligence Group, REUTERS, Alibaba Group Holdings, PDD Holdings, Digital Commerce, Casey Hall, Thomson Locations: U.S, China, Hong Kong, Alibaba's U.S, Bengaluru, Shanghai

The drop, potentially its biggest one-day fall in more than a year, wiped about $20 billion off the Chinese tech giant's market value. It was the first market reaction in Asia since the stunning strategy reversal was announced late on Thursday. "The cancellation of a full spin-off of AliCloud is a negative surprise," said Nomura analyst Shi Jialong in a note. The company said it will press ahead with a listing of Alibaba's logistics arm, Cainiao, which applied for a Hong Kong initial public offering in September. Reporting By Donny Kwok and Josh Ye in Hong Kong, Casey Hall and Gu Li in Shanghai; Writing by Anne Marie Roantree and Brenda Goh; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, Group's, Nomura, Shi Jialong, Alibaba, Jack Ma, Kenneth Fong, Joseph Tsai, Bo Pei, Eddie Wu, Donny Kwok, Josh Ye, Casey Hall, Gu Li, Anne Marie Roantree, Brenda Goh, Muralikumar Organizations: Artificial Intelligence, REUTERS, Hong, Tencent Holdings, HK, UBS, Tiger Research, Thomson Locations: Shanghai, China, HONG KONG, SHANGHAI, HK, Hong Kong, Asia, AliCloud, Washington, U.S, Hangzhou, Alibaba

☆ Alibaba extends losses to $26 billion in market value after the company announces big reversal of spin-off plans
▼ + stars: | 2023-11-17 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Alibaba has lost $26 billion in market cap since Thursday, after it shelved plans to spin off its cloud business. Executives said they needed to "reset" strategy, and pointed to US restrictions on chip sales to China. AdvertisementAlibaba walked back plans to spin off its $11 billion cloud business this week, sending shares of the Chinese tech giant lower for a second day on Friday. AdvertisementThe spin-off for its Cloud Intelligence Group had been planned as part of a widespread overhaul of the Alibaba empire. "We believe that a full spin-off of Cloud Intelligence Group may not achieve the intended effect of shareholder value enhancement," the company said.

Persons: Alibaba, —, Joseph Tsai, Eddie Wu, Wu, Tsai, Biden, it's, Jack Ma Organizations: Service, Bloomberg, Biden Administration, Tencent Holdings, JD, Nvidia, Cloud Intelligence Group, Cloud Intelligence Locations: China

Alibaba Group's Hong Kong shares closed down 10%, their biggest single-day drop in more than a year. Some analysts said keeping the cloud unit could assist Alibaba's AI push. But (it) also points to the increasing importance of retaining the cloud unit given the surging demand for AI computing in China," said US Tiger Research analyst Bo Pei. Alibaba reported second-quarter revenue of 224.79 billion yuan ($31.01 billion), in line with the 224.32 billion expected by analysts, LSEG data showed. The company also said it will press ahead with a listing of Alibaba's logistics arm, Cainiao, which applied for a Hong Kong initial public offering in September.

Persons: Group's, Jon Withaar, Alibaba, Joseph Tsai, Aly, Jack Ma, Kenneth Fong, Bo Pei, Eddie Wu, Daniel Zhang, Vey, Sern Ling, Donny Kwok, Josh Ye, Casey Hall, Gu Li, Yelin, Ankur Banerjee, Anne Marie Roantree, Brenda Goh, Muralikumar Anantharaman Organizations: HK, Pictet Asset Management, Tencent Holdings, Artificial Intelligence, REUTERS, UBS, Tiger Research, Union Bancaire, Hong, Thomson Locations: HONG KONG, China, Hong Kong, Asia, U.S, Singapore, Washington, Hangzhou, Shanghai, Alibaba, Union, Yelin Mo, Beijing

☆ Tencent to seek domestic AI training chip supplies after latest US curbs
▼ + stars: | 2023-11-15 | by ( Josh Ye | ) www.reuters.com time to read: +3 min

"We will have to figure out ways to make the usage of our AI chips more efficient," he said, "And we will also try to look for domestic source for these training chips." Lau's comments come as Chinese companies with AI ambitions are scrambling to cope with the United States' ever-expanding AI chip export restrictions to China. But now a growing number of Chinese tech firms are turning to homegrown chipmakers like Huawei Technologies [RIC:RIC:HWT.UL] for AI chip supply. As such, the new chip curbs will not affect the development of Tencent's AI capability in the near term. The Nvidia H800 chips were AI chips Nvidia developed specifically for China late last year in response to an earlier US curb on AI chips to China.

Persons: Aly, Martin Lau, Baidu, Lau, Tencent, We'll, Josh Ye, Toby Chopra, Jane Merriman Organizations: Artificial Intelligence, REUTERS, Tencent Holdings, HK, Nvidia, Huawei Technologies, Reuters, Thomson Locations: Shanghai, China, HONG KONG, United States

☆ Tencent logs robust revenue growth as games, advertising sales shine
▼ + stars: | 2023-11-15 | by ( Josh Ye | ) www.reuters.com time to read: +2 min

A Tencent sign is seen at the World Internet Conference (WIC) in Wuzhen, Zhejiang province, China, October 20, 2019. REUTERS/Aly Song/File Photo Acquire Licensing RightsHONG KONG, Nov 15 (Reuters) - China's Tencent Holdings (0700.HK) said third-quarter revenue climbed 10%, as its games business staged a robust recovery from a regulatory crackdown on the country's tech sector and online advertising sales surged. In August, the video games sector raked in combined revenue of 29.2 billion yuan, the highest level in at least 20 months, according to CNG, a government-backed industry data firm. Tencent's online advertising business reported a 20% jump in revenue thanks to strong demand for advertising in its video content. Net profit declined 9% to 36.1 billion yuan from a year ago when the company had a strong quarter after divesting stakes in portfolio companies such as Sea.

Persons: Aly, Tencent, Josh Ye, Miyoung Kim, Edwina Gibbs Organizations: World Internet Conference, REUTERS, Tencent Holdings, HK, Riot Games, Thomson Locations: Wuzhen, Zhejiang province, China, HONG KONG

☆ Tencent says has Nvidia AI chip stockpile but seeking to buy domestic
▼ + stars: | 2023-11-15 | by ( Josh Ye | ) www.reuters.com time to read: +3 min

Tencent has enough Nvidia chips to continue development of its "Hunyuan" AI model "for at least a couple more generations", so the curbs will not affect near-term AI capability, Lau said. "We will have to figure out ways to make the usage of our AI chips more efficient," he said. "And we will also try to look for domestic sources for these training chips." "We feel that the chip ban does actually affect our ability to resell (use of) these AI chips through our cloud services," he said. Nvidia plans to market new China-bound AI chips, with an announcement on Nov. 16 at the earliest, industry newsletter SemiAnalysis reported last week.

Persons: Aly, Martin Lau, Lau, We'll, SemiAnalysis, Josh Ye, Jane Merriman, Christopher Cushing Organizations: Artificial Intelligence, REUTERS, Tencent Holdings, HK, Nvidia, Huawei Technologies, Reuters, Baidu, Huawei, Thomson Locations: Shanghai, China, HONG KONG, U.S

☆ China's Tencent Music beats revenue estimates on paid subscriber growth
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +1 min

The logo of China's Tencent Music Entertainment Group is seen next to an earphone in this illustration picture taken March 22, 2021. REUTERS/Florence Lo/Illustration/File Photo Acquire Licensing RightsNov 14 (Reuters) - China's Tencent Music Entertainment (1698.HK) beat estimates for third-quarter revenue on Tuesday, helped by steady growth in paid subscriptions on its music streaming platform. Tencent Music, which includes platforms such as QQ Music, Kugou Music, Kuwo Music and WeSing, has won listeners over by bundling everything from karaoke platforms to live concert streaming services. Total revenue of the Tencent Holdings Ltd-controlled (0700.HK) company, however, fell to 6.57 billion yuan ($900.9 million) in the third quarter. Net profit attributable to equity holders of the company rose to 1.71 billion yuan, from 1.06 billion yuan a year earlier.

Persons: Florence Lo, Harshita Mary Varghese, Akash Sriram, Pooja Desai Organizations: Entertainment, REUTERS, HK, Kugou, Tencent Holdings, Thomson Locations: Bengaluru

Nov 15 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Biden and Xi have only met once before, and this is Xi's first visit to the U.S. since 2017. In a separate dinner with business leaders, he will also be looking to boost flagging investment by U.S. firms in China. The latest retail sales, industrial output, investment and unemployment figures for October will give an insight into whether China's economy is maintaining the surprisingly strong momentum it showed in the third quarter. Citi's China economic surprises index has been in positive territory for almost a month, suggesting activity is strengthening or analysts are lowering their expectations.

Persons: Jamie McGeever, Russell, Joe Biden, Xi Jinping, Biden, Xi, China's Organizations: Tuesday's, Nasdaq, Asia Pacific Economic Cooperation, U.S, Tencent Holdings, JD.Com, Thomson, Reuters Locations: Tuesday's U.S, Zealand, Asia, San Francisco, China, Japan

A panel displays the Hang Seng Index during afternoon trading, in Hong Kong, China May 4, 2020. Other economic and policy highlights across the continent this week include preliminary Japanese third-quarter GDP, Indian inflation, and a policy decision from the Philippine central bank on Thursday. Some, like the China and aggregate emerging market indexes, last week fell to their lowest in three months. Perhaps the most interesting of all Goldman's FCIs is its Japanese index. Citi's economic surprises index for Japan turned negative last week and is now the lowest since June.

Persons: Tyrone Siu, Jamie McGeever, Wall, Goldman, Joe Biden, Xi Jinping, Diane Craft Organizations: REUTERS, Nasdaq, Bank of Japan, Mizuho, Mitsubishi UFJ, Sumitomo, Economic Cooperation, China's, Tencent Holdings, Alibaba, Lenovo, APEC, Thomson, Reuters Locations: Hong Kong, China, U.S, Philippine, Asia, Japan, San Francisco, India

☆ Meta strikes deal with Tencent to sell VR headset in China - WSJ
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +2 min

The preliminary deal will make Tencent the exclusive seller of the headset in China and the videogame maker will start its sale in late 2024, the Journal said, citing soucres. It also gives Meta a chance to return to China after 14 years and compete with TikTok-owner Bytedance, which makes the VR headset Pico. Meta sells Quest 2 headset in the United States at a starting price of $300 and Quest Pro headsets at $1,000. For China, Meta is planning to use lenses in the headset that are cheaper than those in the Quest 3, according to Journal report. The headset is priced more than three times Meta's most expensive Quest headset and is aimed at enthusiasts.

Persons: Yves Herman, Bytedance, Tencent, Biden, Shubham Kalia, Yuvraj Malik, Sonia Cheema, Arun Koyyur Organizations: REUTERS, Tencent Holdings, HK, Facebook, Wall Street, TikTok, Pico, Meta, Quest, Twitter, IDC, Thomson Locations: Brussels, Belgium, China, United States, Beijing, Xinjiang, Bengaluru

Meta plans to use lenses in the headset that are cheaper than those in its most recent model, the Quest 3, pictured above. Photo: Godofredo A. Vásquez/Associated PressSINGAPORE— Meta Platforms has struck a preliminary deal to sell a new, lower-priced version of its virtual-reality headset in China, regaining a foothold among consumers in the country 14 years after Facebook was shut out. The agreement with Tencent Holdings will make the world’s largest videogame company the exclusive seller of Meta’s headsets in China, people familiar with the matter said, offering the U.S. technology giant a major new market as it looks to boost tepid global demand for its niche gear. Tencent will start selling the headset beginning late 2024, with the two companies reaching a deal after about a year of negotiations.

Organizations: Associated Press, Facebook, Tencent Holdings Locations: Associated Press SINGAPORE, China

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