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☆ CNBC Daily Open: Singing the OPEC blues away
▼ + stars: | 2023-11-24 | by ( Clement Tan | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Tighter regulationsSingapore will introduce tighter rules for cryptocurrency service providers. [PRO] Goldman touts its global growth basketEuropean growth stocks haven't been doing as well as their U.S. peers this year. Growth stocks in the region have underperformed value stocks by 13% since the start of the rate-hiking cycle in 2022, according to Goldman Sachs in a Nov. 20 report.

Persons: Crypto, Justin Sun, HTX, Goldman, Goldman Sachs Organizations: CNBC, Japan's Nikkei, CSI, Monetary Authority of, United Nations, Food Locations: Asia, China, U.S, Singapore, cryptocurrencies, Monetary Authority of Singapore, Gaza, Israel

HAWSTON, South Africa (AP) — Nearly every house in Hawston has a boat in its yard, sometimes two. It's reduced the endangered South African abalone to unprecedented low levels, wildlife groups say. Political Cartoons View All 1256 ImagesAt first, the South African government banned abalone fishing completely. Hong Kong is importing between 2,000-3,000 metric tons of illegal South African abalone a year, the report estimated. Chan also rates South African abalone highly, as so many do, with its rich taste and slightly chewy texture.

Persons: Raphael Fisher, perlemoen, Fisher, ”, “ It’s, Wendy Chan, Chan, “, Keet, It's, Bertus van, van Oordt, Van Oordt, we'll, ” van Oordt, “ We'll, Markus Burgener, ” Burgener, Burgener, Zara, Toby, ” Fisher, Kanis Leung, Alice Fung Organizations: South, Global, Transnational, International Union for Conservation, Nature, Divers, Lookouts, Trade Monitoring, AP Locations: South Africa, Hawston, East Asia, Hong Kong, China, Japan, Taiwan, Gansbaai, HIK, Hawston's, Africa, africa

☆ Asia stocks waver, expectations of Fed pause intact after data
▼ + stars: | 2023-11-16 | by ( Julie Zhu | ) www.reuters.com time to read: +4 min

U.S. economic data this week has left investors in the same state of confusion about Fed policy as they have been in for weeks. "A period of consolidation seems warranted, especially if Fed officials push back against the recent easing in financial conditions." Australian shares (.AXJO) were down 0.33%, while Japan's Nikkei stock index (.N225) slid 0.36%. On Wednesday, U.S. stocks closed slightly higher, as the inflation data reinforced investor hopes the Fed is done raising interest rates, while retail stocks were boosted by an upbeat forecast from Target. The two-year yield , which rises with traders' expectations of higher Fed fund rates, touched 4.8991% compared with a U.S. close of 4.916%.

Persons: Issei Kato, HSI, Joe Biden, Xi Jinping, Brent, Julie Zhu, Vidya Ranganathan, Lincoln Organizations: REUTERS, ANZ, Japan's Nikkei, Nikkei, Target, Dow Jones, Nasdaq, Treasury, Thomson Locations: Tokyo, Japan, HONG KONG, Asia, Pacific, U.S

☆ Stock Market Today: Cisco Stock Tumbles After Results
▼ + stars: | 2023-11-16 | by ( ) www.wsj.com time to read: +1 min

If sustained, the fall would wipe out $20 billion-plus in market value for Cisco, a Dow industrials component. Elsewhere, the market looked set for a breather after hitting a two-month high yesterday, with major indexes and bond yields little changed. Stock futures were little changed. Futures for the tech-oriented Nasdaq-100 slipped 0.2% while Dow industrials and S&P 500 futures were close to flat. Hong Kong’s Hang Seng Index fell more than 1% after data showed new home prices in China fell at a faster pace in October.

Persons: Dow industrials, Brent Organizations: Cisco, Dow, Stock Locations: U.S, China

☆ Time to invest in China? The pros weigh in on what sectors and stocks to play right now
▼ + stars: | 2023-11-15 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +5 min

Chinese stocks too have done poorly. 'High confidence in the tradable value' While the Chinese economy "is not very strong," Wong has "high confidence in the tradable value," of Chinese stocks. Stocks to play Goldman is overweight on several sectors including online retail, media/entertainment, tech hardware, health care equipment and services and food & beverage. Other stocks the investment bank sees outperforming "as the China growth story evolves" include internet services provider NetEase , technology hardware manufacturer Xiaomi , and manufacturing conglomerate BYD . China-focused ETFs Elsewhere, Saxo's Wong has his eye on the new infrastructure (such as 5G technology), industrial technology and agricultural technology themes.

Persons: Redmond Wong, Wong, Goldman Sachs, Stocks, Goldman, Saxo's Wong, — CNBC's Michael Bloom, Clement Tan Organizations: Shenzhen Component, Saxo, CNBC, National Bureau of Statistics, Tech, Baidu, Galaxy Entertainment, Mining, China Resources Beer, Miniso, Hong Kong Exchange, CSI Agriculture, CSI 5G Communications, CSI Technology, Enterprises Locations: Shenzhen, China, Taiwan, India, South Korea, Brazil, Mexico

☆ CNBC Daily Open: Markets spiked on October’s flat CPI
▼ + stars: | 2023-11-15 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Boost from CPIU.S. stocks jumped Tuesday on the cooler-than-expected CPI report, with major indexes notching their best day since April. [PRO] Secret stock holdings at BerkshireWarren Buffett's Berkshire Hathaway dumped its stake in one auto company, exited some of its smaller positions and trimmed some big names its stock holdings, according to a new regulatory filing. More intriguingly, Berkshire also asked the Securities and Exchange Commission to keep one or more of its stock holdings confidential.

Persons: Australia's, Berkshire Hathaway Organizations: CNBC, CPI, CPI U.S, Berkshire Warren, Securities and Exchange Commission Locations: Los Angeles , California, U.S, Asia, Pacific, China, Japan, Berkshire, intriguingly

☆ What we can expect from 'Deadpool 3,' starring Ryan Reynolds and Hugh Jackman
▼ + stars: | 2023-11-14 | by ( Olivia Singh | ) www.businessinsider.com time to read: +7 min

Read previewA third "Deadpool" film is in the works, starring Ryan Reynolds as the titular Marvel mercenary and anti-hero. This time around, Reynolds will be joined by his longtime friend Hugh Jackman, who's reprising his role as Logan/Wolverine. According to Jackman, 'Deadpool 3' will take place before 'Logan'Hugh Jackman as Logan/Wolverine in "Logan." "And the fact that he's going to be on our 'Deadpool' set each and every day is nerve-wracking for me. 'Deadpool 3' is currently set for release on July 26, 2024Ryan Reynolds and Hugh Jackman in "Deadpool 3."

Persons: —, Ryan Reynolds, Reynolds, Hugh Jackman, who's, Logan, Shawn Levy, Jackman, Wolverine, James Mangold's, Deadpool, Hugh, Wade, he's, Emma Corrin, Jordan Strauss, It's, Matthew Macfayden, Matthew Macfadyen, Jae C, Tom Wambsgans, Morena, Morena Baccarin, Vanessa, Baccarin, Michael Rosenbaum, everybody's, Karan Soni, Leslie Uggams, Al, Stefan Kapicic, Rob Delaney, Peter, Brianna Hildebrand, Shioli Kutsuna, Yukio, Jennifer Garner, Elektra Jennifer Garner, Elektra, Fox Garner, Ben Affleck, Garner, AFTRA, @ShawnLevyDirect, @VancityReynolds Organizations: Service, Marvel, Business, Collider, Disney, Fox, Canada, Twitter, Hollywood, Etalk, Hollywood Reporter, Marvel Studios, British, SAG Locations: Logan

☆ Morgan Stanley picks global 'alpha' opportunities for November — and gives one about 60% upside
▼ + stars: | 2023-11-14 | by ( Weizhen Tan | ) www.cnbc.com time to read: +1 min

The MSCI Asia ex Japan Index plunged from its January high, losing around 12% since then. Those keen on investing in Asia in the face of such uncertainty can consider Morgan Stanley's selection of Asian stocks it calls "alpha" opportunities for November. Rising prices and falling inventories along with supply cuts and improving demand are positive for margin recovery," the bank said. The company had beaten expectations with significant outperformance in gas marketing and lower-than-expected losses in petrochemicals. These are 10 stocks from the full list of Morgan Stanley's top overweight-rated stocks for November.

Persons: Morgan, Gail, Morgan Stanley's, — CNBC's Michael Bloom Organizations: Shenzhen Component, Alpha, Samsung Electronics Locations: Asia, Japan, Shenzhen, Korean

☆ Beijing Bishop Visits Hong Kong Amid Tensions Between China and Vatican
▼ + stars: | 2023-11-14 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +2 min

By Jessie Pang and Joyce ZhouHONG KONG (Reuters) - China's state-backed Bishop of Beijing visited Hong Kong on Tuesday amid fears among some Catholics that Beijing wants tighter control over religious affairs in Hong Kong. The visit is the first trip by a mainland Chinese bishop since the former British colony was returned to China in 1997 and follows a landmark visit to the Chinese capital by his Hong Kong counterpart in April. Hong Kong has traditionally been seen as a regional Catholic hub on the edge of the Chinese mainland under officially-atheist Communist Party rule. Hong Kong has 600,000 Catholics. Tensions between Beijing and the Vatican over the appointment of bishops saw a confidential pact struck in 2018.

Persons: Jessie Pang, Joyce Zhou HONG, Bishop, Pope, Bishop Joseph Li, Li, of Hong Kong Stephen Chow, Chow, Cardinal Joseph Zen, Zen, Tyrone Siu, Joyce Zhou, Michael Perry Organizations: Reuters, Hong, Hong Kong Catholic Cathedral, Hong Kong Liaison Office, Communist Party Locations: Joyce Zhou HONG KONG, Beijing, Hong Kong, China, of Hong Kong, Vatican, China . Hong Kong, Asia

TOKYO (AP) — Asian shares were mostly higher Tuesday ahead of potentially market-moving developments, including a U.S.-China summit and data releases from the U.S., Japan and China. “Asian stocks gained ground as investors awaited U.S. inflation figures, hoping to confirm that interest rates have peaked. But worries remain about whether it can stay solid as the full effects of rate hikes make their way through the system. Economists expect the report to show that consumers paid prices that were 3.3% higher in October than a year earlier, down from September’s inflation rate of 3.7%. General worries about big deficits and the inability of the two parties to work together have helped push Treasury yields higher.

Persons: Australia's, Seng, ” Stephen Innes, Xi Jinping, Joe Biden, Jerome Powell, Powell, It's, it's, Moody’s, Brent Organizations: TOKYO, Nikkei, U.S, Management, Dow Jones Industrial, Nasdaq, Walmart, Federal Reserve, Big Tech, Apple, Microsoft, AAA, New York Mercantile Exchange Locations: U.S, China, Japan, Hong, Shanghai, California

☆ Los Angeles’ I-10 remains closed indefinitely as damaging fire is investigated as arson. Here’s what we know
▼ + stars: | 2023-11-13 | by ( Taylor Romine | Elizabeth Wolfe | ) edition.cnn.com time to read: +5 min

CNN —Investigators are working to determine who is responsible for a massive fire over the weekend that has forced the indefinite closure of part of Los Angeles’ Interstate 10, as fire officials say the blaze was likely arson. Residents who are impacted have been urged to take public transit, work from home or plan for significant traffic delays. Investigators have sifted through the fire’s rubble in search of evidence and are working with Los Angeles firefighters to canvass the surrounding neighborhoods for potential witnesses and video footage, the fire marshal added. Firefighters responded to reports of the fire around 12:30 a.m. Saturday at a storage yard scattered with pallets, trailers and vehicles, according to the Los Angeles Fire Department. About 100 columns beneath the bridge were impacted by fire and are being inspected, according to transportation department director Tony Tavares.

Persons: Karen Bass, “, Daniel Berlant, Berlant, Gavin Newsom, Newsom, ”, ” Bass, ” Newsom, Kristin Crowley, Jae C, ” John Yang, Yang, Tony Tavares, Transportation Toks Omishakin, ” Yang Organizations: CNN —, ”, “, Firefighters, Los Angeles Fire Department, California Department of Transportation, Transportation, Apex Development, CNN Locations: Los Angeles, City, Los Angeles County, California

☆ CNBC Daily Open: Powell’s hawkish speech sent bond yields soaring
▼ + stars: | 2023-11-10 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Hawkish PowellIn a speech that carried broad hawkish overtones, Federal Reserve Chair Jerome Powell said the U.S. central bank is "not confident" monetary policy is "sufficiently restrictive to bring inflation down to 2 percent." Still, Powell acknowledged there's a "risk of overtightening," and said "monetary policy is generally working the way we think it should work." Both are economic giants that have yet to achieve their full potential, but hold promises for emerging market investors.

Persons: Hawkish Powell, Jerome Powell, Powell, there's, Hong, Wynn Macau, Tesla's, Tesla, SMIC Organizations: CNBC, Nasdaq, Wynn, HSBC Global, HSBC, Li Auto, Chinese Passenger Car Association Locations: U.S, Asia, Pacific, Tesla's, China, India, —

☆ China versus India: The pros explain why they prefer one — and share their stock picks
▼ + stars: | 2023-11-10 | by ( Weizhen Tan | ) www.cnbc.com time to read: +5 min

Which economic giant should emerging markets investors go for: China or India? India is the "best structural growth opportunity" in emerging markets, according to Malcolm Dorson, head of emerging markets strategy at Global X ETFs. LPL Financial's chief technical strategist, Adam Turnquist, added that India has emerged as an increasingly attractive alternative to China. Where and how to invest in India Investors could go for the "booming areas" in India — renewables such as hydrogen and solar energy, as well as agricultural tech, according to Sharma. But both Krosby and Dorson would advocate active management in emerging markets such as India, given political and economic complexities, among other reasons.

Persons: Malcolm Dorson, Morgan Stanley, Dorson, Quincy Krosby, Krosby, LPL, Adam Turnquist, Alejandra Grindal, Ned Davis, Rahul Sen Sharma, Sharma, Morningstar Organizations: Shenzhen Component, CNBC, Global, Chinese Communist Party, LPL, Ned, Ned Davis Research, India Investors, India, Hindustan Unilever, Nestle India, Jewelry, India Active Locations: China, India, Shenzhen, Asia, Beijing

☆ Stock Market Today: Dow Futures Gain, Gloom Stalks European Luxury
▼ + stars: | 2023-11-10 | by ( ) www.wsj.com time to read: +1 min

Another Treasury-market headache: the hack of a U.S. arm of China’s biggest bank , ICBC, which facilitates trading in U.S. government debt. Stock futures were mixed. Two reports—one from Cartier owner Richemont, the other from booze giant Diageo—suggested global consumers are pulling back on spending as economies slow. The cryptocurrency has rallied on hopes the U.S. will approve bitcoin exchange-traded funds, and logged its highest end-of-day level Thursday since May 2022. Hong Kong’s Hang Seng Index fell almost 2%, while shares in Europe also declined.

Persons: Bond, wobbles, Jerome Powell, Richemont, Diageo —, Pernod Ricard, Gucci Organizations: Federal, Treasury, Dow, Nasdaq, Diageo Locations: U.S, ICBC, Cartier, Europe

☆ Hong Kong finance summit tiptoes around China
▼ + stars: | 2023-11-09 | by ( Peter Thal Larsen | ) www.reuters.com time to read: +7 min

HONG KONG, Nov 9 (Reuters Breakingviews) - Hong Kong in November enjoys a pleasant climate that some local managers dub “chairman weather”. Hong Kong is hardly a hot destination for financiers right now. Companies raised just $2.7 billion from initial public offerings in Hong Kong in the quarter, a fraction of previous years. Hong Kong officials including John Lee, the territory’s chief executive, have been sanctioned by the U.S.. Follow @peter_tl on XCONTEXT NEWSThe Global Financial Leaders’ Summit was held in Hong Kong from Nov. 6 to Nov. 8.

Persons: Marc Rowan, Colm Kelleher, Morgan Stanley, Goldman Sachs, David Solomon, Jane Fraser, Ken Griffin, Hong, John Lee, Eddie Yue, Kung, Zhang Qingsong, Bob Prince, Mark Wiedman, Apollo’s Rowan, UBS’s Kelleher, Joseph Yam, Una Galani, Thomas Shum Organizations: Reuters, Apollo Global Management, UBS, Monetary Fund, Companies, Citigroup, Citadel, Hong Kong Monetary Authority, Hong Kong’s HK, Exchange, People’s Bank of China, Bridgewater Associates, BlackRock, Goldman, Bank for International, Global, ’, Thomson Locations: HONG KONG, Hong Kong, Europe, U.S, China . Hong Kong, China, People’s Republic, Hong, British, Singapore, BLK.N, ”

☆ Stock Market Today: Futures Tread Water; Fed's Powell Due to Speak
▼ + stars: | 2023-11-08 | by ( ) www.wsj.com time to read: +1 min

That is the key question for investors after a rally in U.S. stock and Treasury markets. U.S. stock futures suggested the rally could pause. Dow industrials futures traded flat. The 10-year yield traded around 4.6%, up from 4.570% on Tuesday. International stock markets broadly declined.

Persons: Jerome Powell Organizations: Treasury, Federal, Fed, Nasdaq, Dow, U.S, Nikkei Locations: U.S, Washington . U.S, Europe

☆ Hong Kong's IPO market is still in a slump despite an expected rebound
▼ + stars: | 2023-11-06 | by ( Sheila Chiang | ) www.cnbc.com time to read: +4 min

Hong Kong Street Scene, Mongkok District with busses Nikada | E+ | Getty ImagesHong Kong's initial public listing market remains in a slump, even as analysts predicted a market rebound in the second half of the year. "The Hong Kong market has not recovered as much as we would like," Irene Chu, partner at KPMG China, told CNBC. In the first three quarters of the year, the Hong Kong IPO market concluded 44 listings, and raised 24.6 billion Hong Kong dollars ($3.14 billion), according to KPMG. Hong Kong's stock market was among the worst performing last year, shedding 15% in 2022 for its third-straight year of declines. "The Hong Kong stock market remained weak in Q3 2023, as did stock valuations, because of macroeconomic developments, in particular around U.S. interest rate hikes.

Persons: Irene Chu, Hong, Ringo Choi, EY, Zhejiang Leapmotor, Arun George, It's, Chu Organizations: Hong, KPMG China, CNBC, Hong Kong, KPMG, Hang Seng, J, T Express, Reuters, Deloitte, Hong Kong's, ZJLD, Onewo, Global Equity Research, International Monetary Fund Locations: Hong, Mongkok District, Hong Kong, Ringo Choi Asia, Pacific, Asia, Indonesian, Zhejiang, China, Shanghai, Shenzhen, KPMG China, —

☆ This city never slept. Now with China tightening its grip, is the party over?
▼ + stars: | 2023-11-03 | by ( Chris Lau | ) edition.cnn.com time to read: +16 min

China’s message at the time was that even if change was coming to Hong Kong, its spirit of “anything goes” would be staying put. People gather outside a restaurant on a near-empty street in the Soho area of Hong Kong. Officials say they were “fluorescent.”A Hong Kong government spokesman told CNN this week that the activities were “well-received by local residents and tourists”. Under Hong Kong’s pandemic restrictions, live music was all but banned in small venues for more than 650 days. Months before the virus emerged, China had been tightening its grip on Hong Kong in response to pro-democracy protests that had spread throughout the city.

Persons: Hong Kong, Boy George, Grace Jones, Pete Tong, Paul Oakenfold, China’s, Deng Xiaoping, China –, Deng, Deng’s, –, Noemi Cassanelli, Hong, John Lee, “, ”, Gary Ng, Covid, Benson Wong, Wong, Lan Kwai Fong, Cassanelli, Hong Kongers, Kongers, Ng, Yan Wai, ” Yan, hasn’t, Billy H.C, Kwok, Richard Feldman, Feldman, Becky Lam, ” Lam, “ They’ll, ” Feldman, Kwai Fong, Marco Chan, Chan, ” Allan Zeman, Allan Zeman, Lan, CNN “ They’ll, they’ll, Lam, Hong Kong’s Organizations: Hong Kong CNN, East, West, Britain, Occupy Central, National Security, Michelin, CNN, Hong, Tai Hang, National, Hong Kong Wine, HKSAR, Immigration Department, Chinese University of Hong, Soho Association, Netflix, “, Lan Kwai Fong Group, Hong Kong, Shady Locations: China, Hong Kong, Asia, Hong, Soho, Japan, Singapore, Tai, Thailand, Lan Kwai, expats, Britain, Canada, Australia, Natixis, Chinese University of Hong Kong, Lan, revelers, California, Central, Shenzhen, Hong Kong’s Central, Bangkok, Shanghai, Taipei, Petticoat

☆ CNBC Daily Open: Apple drops on a sunny day
▼ + stars: | 2023-11-03 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Exuberant stocksU.S. stocks enjoyed a broad rally Thursday, with all 11 S&P 500 sectors ending the day in positive territory. Bond yields declined. With bond yields hitting their highest in 16 years recently, it's clear the bond market has been experiencing a sell-off. (When bond yields go up, prices go down.)

Persons: Sam Bankman, Fried, Apple's, Elon, Musk Organizations: CNBC, Apple, CNBC Pro Locations: Asia, Pacific

TOKYO (AP) — Asian shares were trading mixed Tuesday as investors looked ahead to a week that could see more swings in financial markets, including key reports on U.S. consumer confidence and the job market. In currency trading, the U.S. dollar rose to 150.16 Japanese yen from 149.04 yen. On Wall Street, the S&P 500 rose 49.45 points, or 1.2%, to close at 4,166.82 on Monday. Because it’s the most valuable stock on Wall Street, it is also the most influential stock on the S&P 500. Big Tech soared much more than the rest of the market early this year, which helped to lift the S&P 500 but also meant big expectations for continued growth.

Persons: Australia's, Korea's Kospi, Brent, Stan Choe, Damian J, Troise Organizations: TOKYO, Nikkei, Bank, Bank of Japan, U.S . Federal Reserve, U.S, Dow Jones, Nasdaq, Apple, Big Tech, Treasury, Fed, Workers, U.S ., CVS Health, Pfizer, Starbucks, Traders, Benchmark Locations: Hong, Shanghai, Japan’s, Israel, Iran

☆ Shares of Tencent-backed J&T Express fall in lackluster Hong Kong debut
▼ + stars: | 2023-10-27 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

The logistics service provider traded at 11.84 Hong Kong dollars ($1.51) on Friday morning, after opening at HK$12. The HK$3.92 billion ($500 million) IPO is the second largest listing in Hong Kong this year, after premium Chinese liquor company ZJLD Group . J&T Express is listing in an uncertain economic environment, characterized by hiking inflation, high interest rates and ongoing conflict such as the Israel-Hamas war and Ukraine invasion. Hong Kong's global IPO ranking dropped to eighth following a historically slow third quarter," said KPMG in a report published on Oct. 9. "The IPO pricing is dropping significantly by more than 50% or even 70%."

Persons: Irene Chu, Ringo Choi Organizations: T Express, Hong, HK, ZJLD Group, KKR, SF Express, Temasek, T, KPMG, KPMG China, CNBC, Reuters . Companies Locations: Hong Kong, U.S, Sequoia, Israel, Ukraine, Asia, Pacific

☆ Stock Market Today: Dow Slides 250 Points; Amazon and Intel Stocks Rally
▼ + stars: | 2023-10-27 | by ( ) www.wsj.com time to read: +1 min

JPMorgan shares fell after Chief Executive Jamie Dimon announced plans to make his first substantial sale of the bank’s shares since taking over nearly two decades ago. Exxon Mobil and Chevron shares fell. The Fed's preferred gauge showed core prices rose by 0.3% from the previous month. Oil prices rose. Hong Kong’s Hang Seng Index rose more than 2% and Japan’s Nikkei 225 gained 1.3%.

Persons: Jamie Dimon, Stocks, Brent Organizations: Nasdaq, JPMorgan, Dow, Exxon Mobil, Chevron, Ford, United Auto Workers, Treasury, Nikkei Locations: America

☆ The founder of Chinese property developer Evergrande — who was once Asia's second-richest person — is no longer a billionaire
▼ + stars: | 2023-10-25 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Once China's second-largest property developer, Evergrande has been mired in a debt crisis since 2021. AdvertisementAdvertisementHui Ka Yan, the founder and chairman of embattled Chinese property developer Evergrande, was once Asia's second-richest person worth $42 billion in 2017. Currently worth $979 million, Hui's net worth followed a dive in the share price of Evergrande amid a real-estate sector meltdown in China. Hui's wealth has also taken a big hit from the recent wild swings in the company's share price on the Hong Kong Stock Exchange. AdvertisementAdvertisementEvergrande's share price was up 0.4% at 24 Hong Kong cents, or 5.4 cents, at 10.05 a.m. Hong Kong time on Wednesday.

Persons: China's, Evergrande, —, Yan, Hui —, Hui, Stocks Organizations: Service, Bloomberg, Hong Kong Stock Exchange, Reuters, Hong Locations: China, Evergrande, Hong Kong

☆ CNBC Daily Open: Strong earnings pave the way for markets
▼ + stars: | 2023-10-25 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. For the quarter, it reported earnings per share of $1.55 vs. $1.45 expected by LSEG, formerly known as Refinitiv. Google Cloud revenue was $8.41 billion vs. $8.64 billion, according to StreetAccount. Snap shares seesawSnap shares initially soared as much as 20% in after-hours trading as the company beat on the top and bottom lines.

Persons: Dow Organizations: CNBC, Dow Jones Industrial, Verizon, Microsoft, LSEG, Google, Treasury Locations: Hong Kong, Asia, Israel, United States, China

U.S. futures rose while oil prices fell back. A barrel of benchmark U.S. oil fell 97 cents to $87.11 per barrel. Chinese stocks fell to a 1-year low early Monday as foreign investors sold off holdings. High yields make borrowing more expensive for everyone, and they slow the economy while dragging on prices for stocks and other investments. But higher oil prices threaten to add upward pressure.

Persons: Brent, Taiwan’s Taiex, Fumio, Australia’s, ” Stephen Innes, It’s Organizations: Israel, Foxconn Technology, Fortune, Apple, Nikkei, Dow, Nasdaq, Treasury, Management, Federal, Fed, Enphase Energy, Regions Financial, U.S Locations: HONG KONG, Gaza, Gaza City, Israel, Shanghai, Hong, Taiwan, Seoul, Europe, U.S

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