(Bloomberg) — Stock markets in Asia ended a three-day winning streak, reflecting a halt in the rally on Wall Street as investors’ appetite for risk waned ahead of Federal Reserve Chairman Jerome Powell’s speech in Jackson Hole on Friday. Most read by Bloomberg Shares fell in Japan and South Korea, despite being unfazed by improved […]
A game developed in China and backed by Tencent Holdings Ltd. has become the fourth most played title on Steam within hours of its release – an unusually rapid rise that may help it cement its place in industry history. Black Myth: Wukong, an action-adventure title based on the escapades of the legendary Monkey King, […]
(Bloomberg) — Utilities stocks have unexpectedly emerged as investors’ darlings in Asia, with bets growing that their stellar run will continue this year. Most read by Bloomberg The sector’s recovery after two years of losses is being driven by supportive local policies and excitement around artificial intelligence, which is driving dramatic increases in electricity demand […]
(Bloomberg) — Michael Burry, the hedge fund manager best known for his 2008 bet against the U.S. housing market and his later portrayal in the book and movie “The Big Short,” continued to increase his stake in Alibaba Group (BABA) Holding Ltd. while halving his overall stock portfolio in the second quarter. Most read by […]
(Bloomberg) — Germany’s largest power generator RWE AG saw its profits fall by almost a third in the first half of the year after falling electricity prices weighed on results. Most read by Bloomberg The energy group said adjusted earnings before interest, taxes, depreciation and amortization were 2.9 billion euros ($3.2 billion) in the six […]
(Bloomberg) — China’s steel industry is facing a crisis even more severe than the downturns of 2008 and 2015, the world’s largest steelmaker warned, stressing the need to preserve cash and likening conditions to a “harsh winter.” Most read by Bloomberg The crisis is likely to last longer and be “more difficult to endure than […]
(Bloomberg) — Oil prices fell after a five-day rise, with a likely escalation in the Middle East conflict offset by signs of a slowdown in global demand growth. Most read by Bloomberg Brent fell below $82 a barrel after rising nearly 8 percent over the past five sessions. West Texas Intermediate traded at about $79. […]
(Bloomberg) — Singapore expects the island’s economy to grow 2 to 3 percent this year, but the forecast is supported by robust external demand despite ongoing risks. Most read by Bloomberg The Ministry of Trade and Industry’s updated growth forecast was released on Tuesday along with final second-quarter gross domestic product figures, showing that growth […]
(Bloomberg) – Huge, mile-long trains snake through the reddish-brown expanses of Australia’s remote outback, transporting iron ore – the country’s most valuable export – through a key mining region that is increasingly vulnerable to weather volatility and where temperatures have reached a Southern Hemisphere record of 50.7 degrees Celsius. Most read by Bloomberg Last summer’s […]
A locked gate on a patch of unkempt jungle that used to be Istana Woodneuk on Holland Road in Singapore. (PHOTO: Lauryn Ishak/Bloomberg) (Lauryn Ishak/Bloomberg) By Chanyaporn Chanjaroen and Faris Mokhtar (Bloomberg) — A sprawling vacant lot in the heart of Singapore that served as the backdrop for the hit movie “Crazy Rich Asians” could […]
