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Emerging-market stocks roar higher on signs of best earnings

Bloomberg Investors in emerging-market stocks are finally getting rewarded, as promising signs for company earnings prompt the longest weekly rally since June. For the first time in three years, developing-nation companies are beating profit forecasts, with average earnings coming in 3.6% above analysts’ projections, according to data compiled by Bloomberg. That helped to deliver a third week of gains for ...

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Alibaba has lost $344b in world’s biggest wipeout

Bloomberg Few people could have predicted the downward spiral for Alibaba Group Holding, when founder Jack Ma delivered a blunt criticism of China’s financial system last October. Yet one year on, the technology titan has lost a whopping $344 billion in market capitalisation — the biggest wipe-out of shareholder value globally, according to data compiled by Bloomberg. Shortly after the ...

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Japan to miss target with $7.4b postal stake sale

Bloomberg The Japanese government will raise 843 billion yen ($7.4 billion) from the sale of Japan Post Holdings Co shares — about $1 billion short of its original target — in the ongoing privatisation of the postal and financial-services giant. Shares in the secondary share sale were priced at 820.6 yen apiece, according to a statement, marking a 2% discount ...

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