China’s policymakers are currently facing the challenge of boosting domestic demand in order to combat deflationary pressures. Former head of the People’s Bank of China, Yi Gang, emphasized the need for proactive fiscal policy and accommodative monetary policy to address the lackluster domestic demand. This is crucial in light of falling consumer prices in 2023
Finance
C3.ai experienced a significant 19.2% drop in its stock price due to weaker-than-expected subscription revenue in the company’s fiscal first quarter. The company’s top-line revenue came in at $73.5 million, falling short of analysts’ expectations of $79.2 million. This indicates potential challenges in acquiring new customers or retaining existing ones, leading to concerns among investors
The Asian semiconductor market experienced a downturn on Wednesday morning, following the significant drop in Nvidia’s share price in the U.S. Nvidia, a leading chipmaker, saw its stock plummet by more than 9% during regular trading hours in the U.S. This decline had a ripple effect on semiconductor stocks across the region, as investors reacted
The Milken Institute’s best performing cities China Index for 2023 has shown significant fluctuations in rankings for Chinese cities. Hangzhou, the capital of Zhejiang province, has emerged as the top-ranked city thanks to its status as a tech hub, hosting companies like Alibaba. On the other hand, Zhuhai, a once-promising city in Guangdong province, has
Travel spending among American households has seen a notable increase, surpassing pre-pandemic levels, fueled by a growing interest in international travel. According to Bank of America research, vacationing abroad has become a key driver of travel momentum, with a significant rise in spending compared to 2019 levels. Despite some fluctuations, travel spending remains high, with
The recent plunge of PDD’s stock by almost 30% following disappointing quarterly results serves as a stark reminder of the changing dynamics within China’s consumer market. The era of double-digit growth that once characterized the sector seems to be fading into the past, with no immediate signs of a turnaround in sight. Despite this overarching
When companies release their quarterly earnings reports, the results can have a significant impact on their stock prices. Positive earnings surprises often lead to a surge in stock prices, as investors view the company’s performance more favorably than they had initially anticipated. On the other hand, negative earnings surprises can result in a sharp decline
Dollar General’s shares tumbled almost 30% after the company reduced its sales and profit guidance for the full year. CEO Todd Vasos attributed the softer sales trends to financially constrained core customers. The retailer also reported disappointing results for the fiscal second quarter. This news impacted competitor Dollar Tree as well, with their shares falling
In a recent development, U.S. government researchers paid a visit to a South Korean mine to assess the progress towards increasing the supply of tungsten, a critical metal used in various industries. This visit marks a significant step in the efforts to reduce dependence on China, which currently dominates over 80% of the global tungsten
The partnership between Volkswagen and Xpeng marks a significant step towards the creation of electric cars tailored for the Chinese market. With Volkswagen’s $700 million investment in Xpeng, the two companies are working together to develop two electric vehicles for release in China by 2026. The collaboration involves Volkswagen staff spending time at Xpeng’s offices,