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Search resuls for: "China ADR"


6 mentions found


☆ Wall St rises on hopes of less-aggressive Fed as business activity shrinks
  + stars: | 2022-10-24 | by ( Amruta Khandekar Devik Jain | Amruta Khandekar | Devik Jain | ) www.reuters.com   time to read: +4 min
The benchmark S&P 500 (.SPX) is up nearly 6% from its Oct. 12 closing low for the year. The reaction function to the actual earnings will likely be positive," said Art Hogan, chief market strategist at B. Riley Wealth in New York. Of the 99 companies in the S&P 500 that reported third-quarter earnings through Friday, 74.7% had beat analysts' expectations, according to Refinitiv estimates. Shares of 3M (MMM.N) and Coca-Cola (KO.N) and Boeing (BA.N), which are also reporting earnings this week rose between 0.5% and 3%. Among S&P 500 sectors, healthcare (.SPXHC) was up 2.1% and in the lead, followed by industrials (.SPLRCI) and consumer staples (.SPLRCS).
☆ Wall Street mixed after weak business data; Tesla drags Nasdaq
  + stars: | 2022-10-24 | by ( Amruta Khandekar Devik Jain | Amruta Khandekar | Devik Jain | ) www.reuters.com   time to read: +4 min
read moreOther megacap shares, including those of Amazon.com Inc (AMZN.O) and Alphabet Inc (GOOGL.O), also dropped ahead of their earnings later this week. read moreThe benchmark S&P 500 (.SPX) is up about 5% from its Oct. 12 closing low for the year. The indexes notched their biggest weekly percentage gains in four months on Friday, also supported by better-than-expected earnings reports. The earnings reports from the four biggest U.S. companies by market capitalization could test a nascent rally on Wall Street as stocks claw their way back from the latest lows. The S&P index recorded 20 new 52-week highs and 4 new lows, while the Nasdaq recorded 42 new highs and 204 new lows.
☆ China ADRs tumble as Xi's new team sparks worries over economy's path
  + stars: | 2022-10-24 | by ( Medha Singh | ) www.reuters.com   time to read: +2 min
Chinese President Xi Jinping votes during the closing ceremony of the 20th National Congress of the Communist Party of China, at the Great Hall of the People in Beijing, China October 22, 2022. REUTERS/Tingshu WangOct 24 (Reuters) - U.S.-listed shares of Chinese companies slumped on Monday after President Xi Jinping's new leadership team sparked investor concerns that ideology-driven policies would be prioritized at the cost of private sector growth. The iShares MSCI China ETF (MCHI.O) tanked 10%, tracking its steepest one-day drop ever. "By consolidating power, Xi is likely to face little opposition to this form of nationalization of corporate interests." Xi secured a precedent-breaking third leadership term on Sunday and introduced the new Politburo Standing Committee stacked with loyalists.
☆ Wall Street set to open higher as bond yields retreat
  + stars: | 2022-10-24 | by ( Amruta Khandekar | ) www.reuters.com   time to read: +3 min
The 10-year yield was last seen at 4.17% after hitting a 15-year high at 4.34% on Friday. The earnings reports from the four biggest U.S. companies by market capitalization could test a nascent rally on Wall Street as stocks claw their way back from the latest lows. Of the 99 companies in the S&P 500 that reported third-quarter earnings through Friday, 74.7% had beat analysts' expectations, according to Refinitiv IBES estimates. Despite the recent rebound, the index is down 21% so far in 2022, on track for its biggest decline since 2008. ET, Dow e-minis were up 144 points, or 0.46%, S&P 500 e-minis were up 14.75 points, or 0.39%, and Nasdaq 100 e-minis were up 13.25 points, or 0.12%.
☆ China ADRs slump on fears Xi's new team to favor state over growth
  + stars: | 2022-10-24 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Tingshu WangOct 24 (Reuters) - U.S.-listed shares of China firms slumped in premarket trading after Xi Jinping's newly unveiled leadership team sparked investor fears that ideology-driven policies would be prioritized at the cost of private sector growth. The iShares MSCI China ETF (MCHI.O) skid 8.6%, tracking a sharp fall in Hong Kong shares (.HSI), led by losses in technology and property sector. Register now for FREE unlimited access to Reuters.com RegisterXi secured a precedent-breaking third leadership term on Sunday and introduced the new Politburo Standing Committee stacked with loyalists. read moreMusic streaming co Tencent Music , e-commerce platform Pinduoduo (PDD.O) and mobile game publisher Bilibili shed between 10% and 15%. Register now for FREE unlimited access to Reuters.com RegisterReporting by Medha Singh in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.
☆ Audit breakthrough fails to lure investors into China ADRs
  + stars: | 2022-09-29 | by ( Summer Zhen | ) www.reuters.com   time to read: +3 min
Register now for FREE unlimited access to Reuters.com RegisterChinese stocks trade in the United States as American Depositary Receipts (ADRs) - U.S. securities that represent foreign shares of a foreign company. Every time, there's another wind comes in that nobody could have seen," said Andy Maynard, global head of equities at China Renaissance Securities. U.S. regulators had long disputed China's refusal to grant them full access to company accountants and audit papers, which had threatened their listings. But a deal struck in August has paved the way for audit inspections to begin this month. Register now for FREE unlimited access to Reuters.com RegisterReporting by Summer Zhen; Editing by Tom Westbrook and Ana Nicolaci da CostaOur Standards: The Thomson Reuters Trust Principles.
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