Pinduoduo (PDD) has emerged as a dominant player in China’s e-commerce space, surpassing industry stalwarts like Alibaba Group and JD.com in market capitalization. Not only has PDD’s value-for-money positioning resonated well with consumers, but its innovative marketplace approach through Temu has also contributed significantly to its success. The company’s first-quarter results showcased remarkable growth, with
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The prices of precious metals, specifically gold, have been skyrocketing to unprecedented levels, hitting a new record high of $2,449.89 per ounce. Currently trading at $2,351.3, gold has maintained its upward momentum due to a weakened U.S. dollar and falling U.S. Treasury yields. China’s increased demand for gold jewelry, with a 10% rise in purchases
Asia-Pacific markets saw a boost on Monday as China’s industrial profits rose by 4.3% year on year in the first four months of the year, according to official data from the National Bureau of Statistics. This increase in profits contributed to the positive outlook in the region, with Mainland China’s benchmark CSI 300 index climbing
Recently, Asia equity analyst Yang Liu and a team at Morgan Stanley updated their forecasts for Tuya, a U.S.-listed Chinese company that generates most of its revenue from overseas markets. The analysts not only raised their price target on Tuya by 50 cents to $3.50 but also expressed optimism about the potential for the company’s
Recent military exercises conducted by China around Taiwan have raised tensions in the region. The drills involved simulated attacks with bombers and the boarding of ships, which Taiwan has condemned as a “blatant provocation.” These exercises were part of the “Joint Sword – 2024A” drills that took place for two days, starting from Thursday and
The recent clash between X CEO Linda Yaccarino and Australia’s online safety regulators has once again brought to light the challenges faced by social media platforms in balancing online safety regulations with freedom of speech. The standoff occurred after a court in Australia refused to extend a temporary order blocking videos of a violent incident
Nvidia shares skyrocketed above $1,000 for the first time in after-hours trading following the chipmaker’s release of its fiscal first-quarter results, exceeding analyst expectations. This surge reflects a growing enthusiasm among investors for Nvidia’s performance and innovation. Nvidia’s quarterly earnings have increasingly become a litmus test for the AI market’s health, which has captured the
Federal Reserve officials are facing uncertainty and confusion when it comes to the inflation picture in the United States. Julian Howard, lead investment director of multi-asset solutions at GAM, expressed his concerns, stating that Fed officials seem to have “no idea” about what is happening with inflation. Despite recent calls for patience in regards to
The Asia-Pacific markets experienced a downward trend on Tuesday following the surge in tech shares that propelled the Nasdaq Composite to record highs. Specifically, Nvidia shares saw an increase of more than 2% due to bullish analyst calls highlighting the company’s dominant position in the market. In anticipation of its upcoming earnings report, several Wall
Asia-Pacific markets mostly rose Monday, tracking Wall Street gains, as investors await economic data from across the region this week. China held its one- and five-year loan prime rates unchanged at 3.45% and 3.95%, respectively, after the country laid out measures on Friday to boost its property market. The five year LPR is the reference