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☆ SoftBank, Tencent Lead Way as Asia’s Tech Investors Become Stock Sellers
▼ + stars: | 2022-12-11 | by ( Dave Sebastian | ) www.wsj.com time to read: 1 min

SoftBank and other large investors in Asian tech companies are pulling out of the sector. Some of the world’s most influential institutions are selling shares of Asia’s technology giants after owning them for years, a troubling sign for investors after what has already been a painful market selloff. In recent months, Japan’s SoftBank Group Corp. has pared its stakes in the Chinese e-commerce company Alibaba Group Holding Ltd. and the Indian mobile-payments company Paytm, in both cases following declines in their share prices. Berkshire Hathaway Inc., Warren Buffett’s company, has been gradually reducing its stake in BYD Co., a Chinese electric-vehicle maker that it has owned shares in since 2008.

☆ Berkshire Hathaway: Warren Buffett further unwinds BYD investment in China
▼ + stars: | 2022-11-23 | by ( Laura He | ) edition.cnn.com time to read: +2 min

It’s the fifth major share sale by Berkshire (BERK) of BYD shares disclosed since August, according to public records. Before the first deal was disclosed in August, Berkshire had held 225 million shares of BYD for 14 years. The US conglomerate first bought BYD shares at an average of HK$8 ($1.02) apiece in 2008, with an investment of $230 million. Back then, BYD shares had fallen to a record low during the global financial crisis. Based on the latest exchange filing, the conglomerate has dumped more than 49 million BYD shares in the past four months.

CNN Business —Taiwan Semiconductor Manufacturing Company plans to bring its most advanced technology to Arizona, the founder of the chip giant said Monday. Super-advanced semiconductor chips — like the ones produced by TSMC — are an indispensable part of everything from smartphones to washing machines. Advances in chip manufacturing require etching ever-smaller transistors on to silicon wafers. Chang said its plant in Arizona will produce 3-nanometer chips, TSMC’s most advanced technology. Experts have warned that any disruption to Taiwan’s chip supply could paralyze production of key equipment, impacting almost everyone in the world.

☆ TSMC stock surges after Warren Buffett's company buys $4 billion stake
▼ + stars: | 2022-11-15 | by ( Diksha Madhok | ) edition.cnn.com time to read: +2 min

New Delhi CNN Business —Shares of Taiwan Semiconductor Manufacturing Company surged on Tuesday after Warren Buffett’s Berkshire Hathaway disclosed that it had purchased a $4.1 billion stake in one of the world’s largest chipmakers. Shares of TSMC were up over 8% in Taiwan on Tuesday. “TSMC welcomes all investors with the propensity to buy and hold TSMC’s stock,” a spokesperson for the chipmaker said. TSMC accounts for an estimated 90% of the world’s super-advanced computer chips, supplying tech giants including Apple (AAPL) and Qualcomm (QCOM). Experts fear that these controls could shift the tech arms race between the United States and China to a whole new level.

☆ Inflation is cooling, and Wall Street loves it
▼ + stars: | 2022-11-15 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +4 min

Investors are hoping that the cooling inflation pressures will lead the Federal Reserve to raise interest rates by smaller amounts in the next few months, following four consecutive historically large hikes. But it’s the good news on the inflation front that is giving investors the biggest cause for jubilation. Those comments soothed investors, who were spooked by remarks from another Fed official about inflation and interest rates. The Fed is clearly still more concerned about inflation than it is the possibility its aggressive rate hikes will slow the economy. That means the market should get used to the notion that interest rates are going to keep climbing and may stay elevated for some time.

☆ Warren Buffett’s Berkshire Hathaway Swings to Loss, Stung by Battered Market
▼ + stars: | 2022-11-05 | by ( Akane Otani | ) www.wsj.com time to read: 1 min

Warren Buffett’s Berkshire Hathaway Inc. swung to a loss in the third quarter as a volatile stock market and losses from insurance underwriting offset gains in its manufacturing, service and retail businesses. The Omaha, Neb., company reported a net loss of $2.69 billion, or $1,832 a class A share equivalent, versus a year-earlier profit of $10.34 billion, or $6,882 a share.

☆ Saudi Credit Suisse deal is fair Buffett imitation
▼ + stars: | 2022-11-02 | by ( Liam Proud | ) www.reuters.com time to read: +3 min

Saudi National Bank (1180.SE) is continuing the tradition, ponying up about $1.4 billion for a 9.9% stake in troubled Credit Suisse (CSGN.S). By contrast, Saudi Arabia’s biggest bank is acquiring $1.2 billion of new Credit Suisse shares in a private placement and then participating in the bank’s imminent rights issue. Credit Suisse is targeting a 6% return on tangible equity in 2025, once Chief Executive Ulrich Körner has cut costs and shrank the investment bank. The Gulf bank has talked up the wider opportunities of partnering with Credit Suisse. That would cost SNB roughly 220 million Swiss francs, taking its total investment spend to around 1.4 billion Swiss francs.

☆ BYD catches investors at distracted driving
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +2 min

Investors drove the $93 billion company’s shares up around 5% on Tuesday after the company estimated its net profit nearly quadrupled in the quarter ending September compared to the same period last year. Its global market share overtook Tesla (TSLA.O) in the first eight months of the year, according to Bernstein analysts. Tuesday’s recovery suggests at least some investors now believe that was overdone. BYD is driving into new markets overseas and moving its once budget brand up-market. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Tesla investors try to ignore Musk's many distractions
▼ + stars: | 2022-10-16 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +7 min

While that’s good news for Twitter’s long-suffering shareholders, Tesla investors hope he still has some time for them. There are big challenges in China as well, with Tesla going up against homegrown EV rivals like Nio (NIO), Xpeng and Li Auto. Too many distractionsGary Black, managing partner at the Future Fund and a Tesla shareholder, has been tweeting for the past few weeks that concerns about Twitter are a headache for Tesla investors. In one tweet, Black said there are several problems for Tesla due to Twitter. The underwhelming deliveries and production numbers also underscore how a slowing global economy (and possible recession) could hurt Tesla.

☆ Wonder where the economy is heading? Pay close attention to earnings
▼ + stars: | 2022-09-20 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +5 min

Economic bellwether FedEx (FDX) stunned Wall Street last week with a massive earnings warning and tepid outlook for the global economy. Still, investors remain nervous about the health of the railroad business, a sign of the jitters about the overall economy. Most of Corporate America operates on a calendar year schedule for earnings, which means they will report third quarter results in October. That would be the worst quarter for earnings since a 5.7% decrease in the third quarter of 2020, when the economy was reeling from Covid-imposed lockdowns. That adds to the risk that a global spike in rates will lead to a further slowdown in earnings, consumer spending and the overall economy.

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