Singles’ Day is shop window for Alibaba’s new toys 10 Nov 2017 Jack Ma's $480 bln behemoth is set for its annual shopping festival. That means lots of free PR and huge transaction volumes. Ma’s stunts will also show how supermarkets, augmented reality and mobile payments fit together. That will help sell his "new retail" idea to investors.
Investors scramble for a slice of almost-Tencent 9 Nov 2017 Chinese search engine Sogou, which just listed in the U.S., is the No. 3 in its home market. The reason to invest, though, is its connection to the owner of near billion-user chat app WeChat. If ties with Tencent get closer, Sogou might merit its $5.1 billion valuation.
Goldman imports Chinese money to lift U.S. trade 9 Nov 2017 The investment bank unveiled a plan to invest $5 bln in American manufacturers with Beijing sovereign fund CIC. In effect, pricey capital generated from trade deficits will go to help the heartland export to China. It's a rich idea to present an anti-globalist U.S. president.
Even China can’t thaw Alaska’s LNG ice age 9 Nov 2017 Exxon and BP walked away from liquefied natural gas projects in the U.S. state last year because the costly endeavor doesn’t compute at current prices. China’s cheap debt and need for gas alter the equation. But other energy sources still look better than the Last Frontier.
China’s vitamin collusion is a bitter trade pill 9 Nov 2017 Beijing wants to be treated as a rule-abiding market economy. But in an ongoing legal dispute, Chinese officials say they pushed domestic vitamin makers to coordinate prices in the U.S. market. China’s unwritten trade rules are often more important than the written ones.
Tencent and Snap send short message to Facebook 8 Nov 2017 The owner of China’s killer app WeChat now owns 12 pct of its struggling vanishing-photo peer. Even though the shares are non-voting, Snap has reason to embrace a powerful new friend. And Tencent will be slightly better positioned should Facebook get an entry visa from Beijing.
Hadas: Even China will struggle to control finance 8 Nov 2017 With state-dominated banks, capital controls and a trade surplus, along with a strong economy, the People's Republic would seem well-placed to limit the risk of foreign debt. Not so. As a new report illuminates, China, like its global peers, is vulnerable to a liquidity crisis.
Hong Kong’s IPO market is turning Chinese 8 Nov 2017 China Literature smashed the chandeliers in its $1.1 billion Hong Kong debut, soaring more than 80 pct in early trade. As local punters swarm into mainland tech, the new-issue market is mimicking distortions common in China. For the exchange, it's a good problem to have.
China’s Sina fires up governance Wayback Machine 8 Nov 2017 Days after escaping a board insurgence effort, the web outfit issued new stock that hands control to its chairman. It retroactively aligns Weibo's parent with Silicon Valley structures just as momentum swings against them. It's a bad turn for China Inc that also cost $500 mln.
Congressional stick may beat Trump’s China bombast 7 Nov 2017 The president has talked tough about punishing the nation’s largest trading partner, but mostly avoided measures like tariffs. Now some U.S. lawmakers want to make it hard to buy American companies. Such bipartisan legislation poses a bigger risk to Beijing than the White House.
Lycra is stretch project for China’s budding LVMH 7 Nov 2017 Shandong Ruyi snapped up the sporty fabric brand from a subsidiary of Koch Industries for more than $2 billion. That advances the firm’s quiet aim of becoming China’s Louis Vuitton. While less bold than moves by other Chinese conglomerates, it just might work.
China’s Evergrande closes in on magical rebirth 7 Nov 2017 The property developer controlled by Xu Jiayin just raised another $9 bln by selling down a stake in a subsidiary. Based on the market reaction, the bold campaign to reduce debt is working. Pressure is now on, though, to complete the amazing turnaround with a Shenzhen listing.
U.S. rally, pain at home deter China tech’s return 5 Nov 2017 After a bold take-private deal last year, software maker Qihoo’s $8 bln backdoor listing has hit a regulatory snag. Meanwhile, shares of U.S.-listed Chinese outfits are outperforming those on the mainland. Tech firms considering an escape from New York might rethink their plans.
Chinese auto-trading IPO may prove to be a lemon 5 Nov 2017 Yixin is preparing a Hong Kong IPO. Connecting auto buyers, sellers and lenders is good business as China’s car market booms and millennials embrace debt. But a mooted value of up to $6.5 bln sounds over-revved. Even if the float goes well, the stock could later go into reverse.
Sina’s board wins Yahoo-like prize 3 Nov 2017 Bosses of the $8 bln Chinese web outfit thwarted a U.S. hedge fund's quest to add two directors. Sina's big problem is that it's worth less than its big stake in Weibo. As Yahoo laid bare, it can be hard to run a company whose value sits elsewhere – regardless of who's in charge.
Chinese markets can shake off post-party funk 3 Nov 2017 Following Beijing's twice-a-decade conclave, a so-called "congress put" that had kept trading calm in the run-up is wearing off. Investors are getting anxious again as a shadow-banking crackdown roils bond and money markets. Equities look first in line for policy reassurance.
Viewsroom: Saudi Arabia’s city of the future 2 Nov 2017 Crown Prince Mohammed bin Salman has a $500 bln plan to attract new business to the oil-dependent kingdom: build a utopian society on the Red Sea free of many of Saudi’s legal and cultural constraints. Plus: why tech and finance execs won’t be joining President Trump in Asia.
Alibaba splurges to impress China’s store owners 2 Nov 2017 Sales are soaring at Jack Ma's $477 bln e-commerce giant. But it is investing heavily in experimental supermarkets and malls that show off its payments, logistics and marketing prowess to others. It's a costly way to keep Alibaba’s technology and services revenue growing.
Wall Street loses in search for easy China wins 1 Nov 2017 Energy and industrial companies like GE will get to cozy up to Beijing’s new leaders during Trump’s Asia trip, but financial services aren't part of the group. That reflects White House desires for low-hanging deals to tout, and dim hopes for improved market access.
Tencent’s hit spinoff reads like a prologue 1 Nov 2017 China Literature’s $1.1 bln IPO priced at the top of the range. That could encourage parent Tencent to list other units, which would both raise capital and lessen the regulatory scrutiny on some businesses. The most radical move would be floating crown jewel WeChat.