TOKYO (AP) — Shares soared Tuesday in Shanghai as Chinese markets reopened after a weeklong holiday but then gave up a chunk of their initial gains as officials in Beijing outlined details of plans to revive the world’s second-largest economy.The Shanghai Composite index was up 5.5% at 3,519.88 and in Shenzhen, Japan’s smaller market, the main index gained 5.3%. The Shanghai benchmark initially gained 10% but fell back as officials of China’s main economic planning agency briefed reporters about a slew of policies announced earlier meant to address key problems such as a property market slump.Hong Kong’s Hang Seng sank…
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(Reuters) -Boeing and its largest union said they would continue contract talks on Tuesday, as both sides seek an agreement to end a strike by around 33,000 U.S. West Coast factory workers. The company and the union, whose members have been on strike for 25 days, had resumed contract talks on Monday in the presence of federal mediators. “Although we met with Boeing (NYSE:) and federal mediators all day, there was no meaningful movement to report. We will be back at it tomorrow,” The International Association of Machinists and Aerospace Workers said late on Monday. Boeing also confirmed mediation would…
Financial influencers, aka finfluencers, have amassed an enormous following on social media, particularly among Gen Zs aged 18 to 25. Some finfluencers leverage social media to promote sound financial education, thereby providing significant benefit for society at large. But some others are bad actors, doling out questionable advice for monetary gain or social media fame. Our job as a community is to promote content creators who have a genuine interest in financial education and knowledge sharing. This is easier said than done. Social media platforms reward the loudest finfluencers who make the most extraordinary claims, because they drive traffic…
Image source: Getty Images Premium content from Motley Fool Share Advisor UK Our monthly Fire Best Buys Now are designed to highlight our team’s three favourite, most timely Buys from our growing list of growth-focused Fire recommendations, to help Fools build out their portfolios. “Best Buys Now” Pick #1: Nike (NYSE:NKE) Nike is the world’s leading sports apparel business – though it’s currently facing some near-term challenges. Sales fell by 10% in its first quarter and are set to fall again by 8-10% in Q2. The company has been tightening supply of some of its major shoe products – includingAir Force…
Businesses in Singapore and Hong Kong can now accept payments by JCB credit and debit cards through their existing single integration with Nuvei TOKYO and MONTREAL, Oct. 7, 2024 /PRNewswire/ — JCB International Co., Ltd. (“JCB”), Japan’s only international payment brand, today announced that it has expanded its global partnership with Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, to include Singapore and Hong Kong. This expansion builds upon Nuvei’s existing relationship with JCB in Europe, further strengthening Nuvei’s position in the rapidly growing Asia-Pacific (APAC) eCommerce market. Through this enhanced partnership, Nuvei now…
People walk near the New York Stock Exchange.Leonardo Munoz/VIEWpress via Getty ImagesA blockbuster jobs report raises the stakes for upcoming inflation data, BofA analysts say.The analyst predicted that an upside surprise to September CPI would stoke fresh volatility.The September jobs crushed estimates on Friday, with 254,000 jobs added last month.The September jobs report was good news, but it gives investors more reason to brace for the next inflation reading, Bank of America analysts say.The analysts say last week’s blockbuster jobs report puts more pressure on this week’s consumer price index data, with a big surprise to the upside now more…
Investing.com– Bernstein initiated coverage of Japanese semiconductor stocks with a positive view on the sector, expecting it to benefit from global growth in chip demand and the artificial intelligence industry. The brokerage said that after a sharp correction from their July peak, semiconductor valuations were now much more attractive, especially in the semiconductor production equipment (SPE) sector. Bernstein said Japan’s semiconductor production equipment (SPE) sector was strong, especially amid a rush by major world governments to build local production capacity. Top picks from this sector include Disco (OTC:) Corp (TYO:), Advantest Corp. (TYO:) and Tokyo Electron Ltd. (TYO:)- all three…
By Hyunjoo Jin, Heekyong Yang and Joyce Lee SEOUL (Reuters) -Samsung Electronics warned its third-quarter profit would come in below market expectations and apologised for the disappointing performance with the tech giant lagging its rivals in supplying high-end chips to Nvidia (NASDAQ:) in the booming AI market. Samsung said its AI chip business with an unidentified major customer was hit by a delay, while Chinese chip rivals increased supplies of conventional chips, contributing to the decline in its semiconductor earnings. The comments illustrate the challenges facing the company, which has been the world’s biggest memory chipmaker for three decades but…
The Samsung logo is on display at their pavilion during the Mobile World Congress in Barcelona, Spain, on February 28, 2024. (Photo by Joan Cros/NurPhoto via Getty Images)Nurphoto | Nurphoto | Getty ImagesSouth Korean tech giant Samsung Electronics said it expects worse-than-expected profit for the third quarter.In guidance released Tuesday, the world’s top memory chip maker said operating profit for the quarter ending September is projected to be around 9.10 trillion won, marking a 274% surge from last year’s 2.43 trillion Korean won. However, the figure missed LSEG expectations.Analysts polled by LSEG projected an operating profit of 11.456 trillion Korean…
Investing.com– Most Asian markets fell on Tuesday, tracking overnight weakness in Wall Street as strength in the U.S. job market drove bets that interest rates will remain relatively high. Chinese markets vastly outperformed their peers, rising sharply as trade resumed after a week and as investors reacted to a barrage of stimulus measures from Beijing. Other Asian markets took a weak lead-in from Wall Street, which fell sharply as traders priced in the prospect of a smaller rate cut in November. U.S. stock index futures were muted in Asian trade. Asian technology stocks saw the biggest losses on Tuesday, tracking…