Alibaba, the Chinese giant known for its e-commerce dominance, faced a significant setback in the fiscal fourth quarter as its net profit plunged, leading to a drop in its stock price. The company reported revenue of 221.9 billion yuan ($30.7 billion), slightly higher than the LSEG consensus estimates of 219.66 billion yuan. However, its net
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The Asia-Pacific markets experienced a downward trend on Monday as investors digested China’s April inflation data. While China’s consumer price index exceeded expectations by rising 0.3% year on year, the producer price index fell 2.5% compared to an estimated 2.3% drop. These figures indicate a mixed outlook for the region’s economies, prompting cautious trading behaviors.
Home Depot is gearing up to release its earnings before the bell, with a call scheduled at 9 a.m. In the previous quarter, HD reported better-than-expected earnings and revenue despite consumers focusing on smaller home improvement projects. However, this quarter, the home improvement giant is predicted to see a decline of more than 5% in
In April, China witnessed a third consecutive month of rising consumer prices, signaling a positive shift in domestic demand as the government continues to navigate economic challenges. Data from the National Bureau of Statistics revealed that consumer prices increased by 0.3% year on year, surpassing both March’s 0.1% rise and a Reuters poll forecast of
In recent years, the trade landscape for Germany has been experiencing a significant shift, with the United States quietly but steadily emerging as its top trading partner. The total trade volume between Germany and the U.S. reached 63 billion euros in the first quarter of 2024, surpassing the trade volume between Germany and China, which
The global semiconductor industry is on the brink of a major transformation, with the rise of artificial intelligence (AI) PCs powered by chips developed by British chip designer Arm. According to analysts at Morgan Stanley, the demand for more powerful PCs to run AI applications is driving this shift in the industry. The energy conservation
South Korea’s convenience stores have seen a new addition to their menu items – gold bars. The country’s largest convenience store chain, CU, has partnered with the Korea Minting and Security Printing Corporation (KOMSCO) to offer customers mini gold bars that have been selling rapidly. These small gold bars, ranging from 0.1 gram to 1.87
The Asia-Pacific markets are showing signs of optimism as investors anticipate further gains following a positive session on Wall Street. The market sentiment is being driven by expectations that the Federal Reserve will slash interest rates, providing a boost to stocks in the region. Central Bank Decisions Investors in Asia are closely monitoring the Reserve
The Asia-Pacific markets showed resilience on Monday, following the gains seen on Wall Street. This surge in market optimism was triggered by a softer-than-expected U.S. jobs report, which raised hopes of an imminent rate cut by the Federal Reserve. This development has put investors on high alert, eagerly anticipating the rate decision by the Reserve
As Chinese President Xi Jinping embarks on a diplomatic tour of Europe, the continent finds itself grappling with a multitude of challenges and contradictions in its relationship with Beijing. While European nations are deeply enmeshed in economic ties with China, concerns over Beijing’s growing power and its alignment with Russia are causing diplomatic headaches for