Bloomberg Tencent Holdings Ltd. slumped after a world-beating surge in the stock pushed its market value to the cusp of $1 trillion for the first time. The Chinese internet behemoth lost 6.3% in Hong Kong on Tuesday, putting its market capitalisation below $890 billion. Traders took profit after Monday’s 11% rally, which was Tencent’s biggest in almost a decade. Adding …
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Bloomberg Global stocks were mixed as M&A deals gave a boost to Europe, while worries about new virus variants and hurdles to the Biden administration’s stimulus proposal fanned a risk-off mood in the US and Asia. S&P 500 equity futures dropped, while Treasury yields climbed as President Joe Biden said he’s open to negotiating his $1.9 trillion Covid-19 relief proposal. …
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Bloomberg Hong Kong’s equity traders can’t get enough of Tencent Holdings Ltd., the $950 billion giant that’s on pace for its biggest ever monthly gain. They’re paying up for bullish derivatives tracking the Chinese internet firm, buying thousands of January call options that expire on Thursday. The price of one Tencent contract — which bets the stock will rise past …
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Bloomberg Global stocks rise with US equity futures as investors focused on the prospect of additional fiscal stimulus and supportive Federal Reserve policy amid the worsening pandemic. The dollar dipped. Europe’s Stoxx 600 Index opened higher in a broad-based rally. Stocks outperformed in South Korea and Hong Kong. US futures pointed higher, with Nasdaq 100 contracts leading gains ahead of …
Read More »Bloomberg Debt sales in India’s rupee corporate bond market are likely to slow significantly this year after reaching a record in 2020, according to a Bloomberg News survey of debt arrangers. Issuance will fall by 17% to about 7.55 trillion rupees this year, according to the median estimate of six of the nation’s top debt arrangers. Companies have less need …
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Bloomberg The high-yield bond market is wrapping up what’s likely to be the busiest January on record next week as investors continue to pour cash into risky assets as they hunt for higher returns. Sales stand just about $1.2 billion below the current January peak of $37 billion, which was set in the first month of 2020. Yields on CCC …
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Bloomberg Citadel Securities went from strength to strength in 2020, as the pandemic spurred wild swings across finance. To cap the tumult, Ken Griffin’s firm, one of the world’s biggest market makers, just posted record revenue — some of it from a rapidly constructed Florida trading floor. Fourth-quarter net trading revenue of $1.7 billion brought the firm’s full-year total to …
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Bloomberg European stocks tracked US equity futures higher on Wednesday, buoyed by earnings and hopes for more stimulus. The dollar extended its retreat. Nasdaq futures rallied and tech shares led gains in the Stoxx 600 Index following strong earnings from Netflix Inc. and chipmaker ASML Holding NV. S&P 500 contracts edged higher a day after US Treasury Secretary nominee Janet …
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Bloomberg Donald Trump’s presidency promised a more confrontational approach towards China. While he certainly achieved that, he also helped create a winner in Taiwan’s stock market. The Taiex benchmark surged 92% in US dollar terms since Trump’s inauguration on January 20, 2017, the best performance among 93 global gauges tracked by Bloomberg and far beating the MSCI All-Country World Index’s …
Read More »Bloomberg India stocks rise, buoyed by prospects of earnings growth. The S&P BSE Sensex climbed 0.3% to 49,568.70 as of 10:01 am in Mumbai, while the NSE Nifty 50 Index advanced 0.4%. Both measures are set to gain for a second day. Foreign fund purchases have pushed India’s key equity gauges to successive new records this year, while all five …
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