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BEIJING: Meituan has shed more than $60 billion of its market value over two frenetic trading sessions, after Beijing unveiled sweeping reforms against private-sector companies that darkened the outlook for the world’s No 2 economy.
SHANGHAI: Chinese A-shares and Hong Kong's benchmark index extended heavy losses to hit multi-month closing lows on Tuesday, as investors worried over the impact of tighter government regulations, while a surge in COVID-19 cases dealt a further blow to sentiment.
HONG KONG: Asia's stocks fell to fresh seven-month troughs on Tuesday, led by a third straight session of heavy selling of Chinese internet giants, while bond and currency markets clung to tight ranges ahead of the Federal Reserve policy meeting.
KUALA LUMPUR: AmInvest launched its new Hong Kong Tech Index Fund that will enable investors to catch the growth underpinned by the fast-growing technology sector and the increasing number of technology companies listed in Hong Kong.
KUALA LUMPUR: The ringgit opened higher against the US dollar today as weak economic data from the United States (US) took a toll on the greenback, a dealer said.
NEW YORK: U.S. stocks touched record highs in choppy trade on Monday and the dollar weakened, as investors avoided making new, bold bets before this week's Federal Reserve policy meeting, which might offer clues on the outlook for monetary policy.
Philippine stocks fell to a two-month low, it worst show since May 26, and led losses among Asian equities on Monday
Shares were mostly lower in Asia on Monday, where Tokyo advanced while markets in Hong Kong and Shanghai fell sharply.
Myanmar's economy is expected to shrink by 18 per cent in 2021, the World Bank said Monday, as a result of massive unrest following a military coup and a resurgent coronavirus outbreak.
SYDNEY: Asian shares skidded to their lows for this year on Monday as concerns over tightening regulations upended Chinese equities and strong U.S. corporate earnings sucked funds out of emerging markets into Wall Street.