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HONG KONG, Nov 5 (Reuters) - U.S. audit watchdog's onsite inspection of the audit work of New York-listed Chinese companies, which started in Hong Kong in September, has ended, three people with knowledge of the matter said, raising hopes of a resolution of a long-pending dispute. The inspection started in Hong Kong after the two countries signed a pact in August to resolve a dispute that threatened to exclude more than 200 Chinese companies, including tech giant Alibaba Group Holding Ltd (9988.HK), from U.S. exchanges. Reuters reported in August that U.S. regulators had picked a number of U.S.-listed Chinese companies, including e-commerce groups Alibaba and Yum China Holdings Inc for onsite audit inspection. U.S. regulators have for more than a decade demanded access to audit papers of U.S.-listed Chinese companies, but Beijing has been reluctant to let U.S. regulators inspect its accounting firms, citing national security concerns. Reporting by Xie Yu and Julie Zhu in Hong Kong; additional reporting by Chris Prentice in Washington; Editing by Sumeet Chatterjee, Louise Heavens and Jane MerrimanOur Standards: The Thomson Reuters Trust Principles.

Shares of Chinese companies listed in Hong Kong jumped on Friday, after U.S. officials wrapped up a crucial audit inspection in the city and a transcript circulated on social media suggesting China was considering reversing its strict coronavirus policies. The Hang Seng Index closed the day more than 5% higher after Chinese stocks in a variety of sectors saw heavy buying. Tech giant Alibaba Group Holding Ltd., vehicle maker Geely Automobile Holdings Ltd. and restaurant chain Haidilao International Holding Ltd. were all up by double-digits in percentage terms. China’s CSI 300 index ended the day up 3.3% and the Shanghai Composite Index was 2.4% higher.

☆ 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%.

An advertisement promoting Alibaba's Singles' Day shopping festival is pictured, following the coronavirus disease (COVID-19) outbreak in Shanghai, China, October 22, 2022. Sweaty Betty China Vice President Lexie Morris told Reuters the active-wear brand would use only "one or two" livestream hosts this Singles Day season and that it was starting to work with much smaller and more sports-focused livestreamers. Analysts expect to see another year of slowing sales overall this Singles Day, dampened by a slowing economy and China's zero-COVID-19 policy. In June, Alibaba rival JD.com Inc (9618.HK) also recorded its slowest-ever sales growth for 618, China's second-largest shopping festival after Singles Day. "Instead of a traffic-driven model, Taobao Live helps merchants grow their businesses sustainably," it said.

☆ Futures slide as China worries sour global mood
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +2 min

All the three major indexes notched their biggest weekly percentage gains in four months last week, supported by better-than-feared third-quarter earnings so far. Of the 99 companies in the S&P 500 that have reported quarterly earnings as of Friday, 74.7% beat analysts' expectations, according to Refinitiv estimates. Focus now shifts to reports this week from big tech and growth companies. ET, Dow e-minis were down 197 points, or 0.63%, S&P 500 e-minis were down 26.5 points, or 0.7%, and Nasdaq 100 e-minis were down 95 points, or 0.84%. Register now for FREE unlimited access to Reuters.com RegisterReporting by Bansari Mayur Kamdar in Bengaluru; Editing by Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

NEW YORK/TOKYO, Sept 29 (Reuters) - Japan's SoftBank Group Corp (9984.T) is cutting around 150 staff globally at its Vision Fund unit and SoftBank Group International, a person familiar with the matter said, as CEO Masayoshi Son retrenches following huge loss on his tech bets. Register now for FREE unlimited access to Reuters.com RegisterThe cuts will affect staff in the investment teams and back-office staff in departments such as finance and legal, a second source said. The cuts also encompass SoftBank Group International, which was led by Marcelo Claure before he exited the firm and which manages other group investments. Vision Fund has radically scaled back investing activity, with Son saying SoftBank's second Vision Fund would primarily manage its existing portfolio. SoftBank has sold down its stake in key asset Alibaba Group Holding Ltd (9988.HK) and outlined plans to list Arm.

☆ Audits of Chinese Companies Start to Face U.S. Inspections
▼ + stars: | 2022-09-22 | by ( Michelle Chan | ) www.wsj.com time to read: 1 min

U.S. regulators have started inspecting China-based audits, kicking off a monthslong process that will determine whether companies from Alibaba Group Holding Ltd. to Yum China Holdings Inc. can remain listed on American stock exchanges. The inspection, which is set to last eight to 10 weeks in Hong Kong, would allow the U.S. audit watchdog to decide by the end of this year whether China is honoring a landmark agreement to give U.S. accounting inspectors full access to audit working papers of New York-listed Chinese companies.

read moreAbout 10 officials from the China Securities Regulatory Commission (CSRC) and the Ministry of Finance (MOF) have arrived in Hong Kong and joined the audit inspection, which started on Monday, three of the people said. State-owned China Southern Airlines and data centre company GDS Holdings are among the U.S.-listed Chinese companies for audit inspection in the Asian financial hub, two separate sources said. Reuters reported last month that U.S. regulators had picked a number of U.S.-listed Chinese companies including e-commerce majors Alibaba Group Holding Ltd (9988.HK) and JD.com Inc (9618.HK) for audit inspection. It was not clear whether the Chinese officials would be present for every step of the inspection process with PCAOB representatives. The onsite inspections by the PCAOB are being conducted in the Hong Kong offices of the selected Chinese companies' audit firms, said two of the sources.

read moreAbout 10 officials from the China Securities Regulatory Commission (CSRC) and the Ministry of Finance (MOF) have arrived in Hong Kong and joined the audit inspection, which started on Monday, three of the people said. However, in a speech on Thursday, PCAOB chair Erica Williams said agency officials had arrived in Hong Kong to begin the inspections. As with all inspections, they will look at factors, including the audits of the selected companies and the overall quality control systems of the audit companies. State-owned China Southern Airlines and data centre company GDS Holdings are among the U.S.-listed Chinese companies for audit inspection in the Asian financial hub, two separate sources said. The onsite inspections by the PCAOB are being conducted in the Hong Kong offices of the selected Chinese companies' audit firms, said two of the sources.

Celebrul antreprenor chinez a apărut în public ultima oară la un forum organizat la Shanghai, la finele lunii octombrie, ocazie cu care a criticat sistemul de reglementare din China, într-un discurs care l-a pus în opoziţie cu oficialii chinezi. Rezultatul a fost suspendarea procedurii de listare publică iniţială a Ant Group, una dintre diviziile Alibaba, operaţiune evaluată la 37 de miliarde de dolari. Cotidianul Financial Times susţine că Jack Ma a fost înlocuit de altcineva în poziţia de jurat pentru episodul final al unui show de televiziune pentru antreprenori denumit Africa's Business Heroes. În replică, un purtător de cuvânt de la Alibaba a spus luni că înlocuirea lui Jack Ma a fost determinată de programul încărcat al antreprenorului, dar nu a oferit detalii. Este vorba de o situaţie destul de unică, care are legătură cu mărimea Ant Group şi sensibilităţile ce ţin de reglementarea financiară”, a apreciat Duncan Clark, preşedintele firmei de consultanţă BDA China.

Persons: Jack Ma, Duncan Clark Organizations: Ant Group, Times, Heroes, Alibaba, consultanţă, JD.com, Pinduoduo, Alibaba Group Holding Ltd Locations: Shanghai, China, China continentală

☆ Dispariția misterioasă a celui mai bogat om din China ridică semne de întrebare: Unde a fost văzut miliardarul ultima oară
▼ + stars: | 2021-01-04 | by ( ) www.jurnal.md time to read: +2 min

Persons: Jack Ma, Duncan Clark Organizations: Ant Group, Times, Heroes, Alibaba, Agerpres, consultanţă, JD.com, Pinduoduo, Alibaba Group Holding Ltd Locations: Shanghai, China, China continentală

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