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Alibaba Group Holding

NetEase, Baidu, Meituan hurt Hong Kong stocks as focus shifts to Fed chair’s speech

by Anas Siddiqui
NetEase, Baidu, Meituan hurt Hong Kong stocks as focus shifts to Fed chair’s speech

Hong Kong stocks fell on Friday, dragged down by Chinese blue chips’ disappointing earnings, while traders keenly await the Federal Reserve chair’s speech for clues on the coming interest-rate cut. …

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TikTok owner ByteDance launches new video search tool, eyeing Baidu’s dominance

by Anas Siddiqui
TikTok owner ByteDance launches new video search tool, eyeing Baidu’s dominance

TikTok owner ByteDance has launched a stand-alone app in China to search for short video content published on Douyin, bringing it into closer competition with internet search giant Baidu. Douyin …

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China’s Black Myth: Wukong mania lifts sales of Sony’s PS5 console, other gaming hardware

by Anas Siddiqui
China’s Black Myth: Wukong mania lifts sales of Sony’s PS5 console, other gaming hardware

He added that his bricks-and-mortar store on Tuesday received more than dozen inquiries about the PS5’s availability. Sony’s flagship store in Shanghai’s upscale Huangpu district on Tuesday saw its stock …

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ByteDance’s CapCut, Doubao top global AI app downloads, outpacing ChatGPT: report

by Anas Siddiqui
ByteDance’s CapCut, Doubao top global AI app downloads, outpacing ChatGPT: report

Video-editing app CapCut recorded 38.42 million downloads in July, while chatbot Doubao achieved 27.45 million downloads to outperform OpenAI’s ChatGPT, which had 19.81 million in the same period, according to …

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Alibaba’s long-awaited China stock link may provide timely boost

by Anas Siddiqui
Alibaba’s long-awaited China stock link may provide timely boost

Chinese investors finally being able to buy shares of Alibaba Group Holding may provide a much-needed boost for the e-commerce firm’s stock, with an inflow of up to about US$20 …

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DBS launches treasury tokens with Ant International for cross-border liquidity management

by Anas Siddiqui
DBS launches treasury tokens with Ant International for cross-border liquidity management

DBS, Singapore’s largest banking group, has launched a treasury token pilot project with Ant International to improve cross-border treasury and liquidity management. The project, which operates on DBS’ permissioned blockchain, …

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Chinese Big Tech to see big AI gains in social, educational and office use, report says

by Anas Siddiqui
Chinese Big Tech to see big AI gains in social, educational and office use, report says

Artificial intelligence (AI) adoption is primarily benefiting users in three areas – social and entertainment, education, and office collaboration – according to a new report, highlighting where the country’s technology …

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Hong Kong stocks drop for second day, miss regional rally amid soft economic data

by Anas Siddiqui
Hong Kong stocks drop for second day, miss regional rally amid soft economic data

Hong Kong stocks weakened for a second day, left out of a broader Asian rally, after a mixed bag of economic data for mainland China reinforced growth concerns. The Fed …

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JD.com profit surges in second quarter after slashing prices, installing trade-in programme

by Anas Siddiqui
JD.com profit surges in second quarter after slashing prices, installing trade-in programme

Chinese online shopping giant JD.com reported a 92 per cent year-on-year jump in quarterly net income to 12.6 billion yuan (US$1.7 billion), despite a flattish revenue, as better operational efficiencies …

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Alibaba revenue edges up to US$33.5 billion but misses estimates in June quarter

by Anas Siddiqui
Alibaba revenue edges up to US.5 billion but misses estimates in June quarter

“Our results this quarter demonstrated our strategy at work. Our focus on enhancing user experience by offering quality products at attractive prices with great service led to stabilising market share …

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