Alibaba Group Holding (NYSE:BABA) – Why Alibaba and Nio shares aren’t trading in Hong Kong today: Asia-Pacific markets watch key US data
Asia-Pacific markets opened in the green on Monday on improving risk sentiment, but investors are watching closely for US inflation data due later this week.
from Japan Nikkei and australia ASX rose more than 1% at the open on Monday, while markets in mainland China and Hong Kong were closed due to the Mid-Autumn Festival.
Currency: The Japanese government must take action to prevent an excessive decline in the yen, a senior government official said on Sunday, as the currency fell to its weakest level against the dollar in 24 years, reported Reuters. The yen hit a low of 144.99 against the dollar on Wednesday before paring its losses. USD/JPY last traded at 142.54 on Monday.
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Macro News: The Biden the administration plans to expand restrictions on U.S. shipments to China of semiconductors used for artificial intelligence and chipmaking tools next month, reported Reuters.
Auto sales in China rose 32.1% to 2.38 million units in August, led by electric vehicles (EVs), whose sales were boosted by government incentives, reported Reuters.
Company News: Ubisoft Entertainment SA UBSFY is always open to other partners who publish an agreement in which Tencent Holdings will increase his stake in the company, co-founder and CEO Yves Guillemot said, reported Reuters.
Nio Inc. NIO has set up more than 1,100 battery exchange stations in China and aims to establish more than 1,300 stations in China by the end of this year, reported the CnEVPost. The company’s shares ended their Hong Kong session up 5.7% on Friday.
Alibaba Group Holding Ltd BABA maintained its leading position in China’s cloud market, according to data released last week. The company’s Hong Kong shares ended up nearly 3% on Friday.
World News: US futures were trading in the green in the Asian session on Monday morning. Dow Jones futures rose 0.06%, while Nasdaq futures gained 0.1%. S&P 500 futures rose 0.07%.