Walmart (NYSE:WMT) has disposed its near 10% stake in JD.com (NASDAQ:JD), it disclosed in an exchange filing, sending the Hong-Kong listed shares of the Chinese e-commerce firm down 9.6% on Wednesday.
BUSINESS
How China and Japan’s brotherhood of steel – forged by Deng Xiaoping – ultimately corroded
With a lengthy joint venture in steel between China and Japan coming to an end, analysts reflect on its broader meaning in the context of the two countries’ new roles in the global economy.
Walmart’s $3.6 Billion JD.com Sale Fuels China Tech Slump
Walmart Inc. is raising about $3.6 billion by selling its stake in Chinese e-commerce firm JD.com Inc., winding down an eight-year partnership that appears to be paying diminishing returns amid a …
Taiwan July export orders beat forecasts on AI chip demand; orders from China flat
Taiwan’s export orders rose more than expected in July as demand for chips used in artificial intelligence applications continued to soar and the government said it expects the momentum to extend into August.
Indonesia searches for ways to balance domestic industries with surging Chinese imports
A flood of Chinese products into Indonesia has hit local manufacturers hard, prompting the government to look for ways to placate domestic producers while avoiding angering the country’s biggest …
China’s summer durian market heats up as Thailand, Vietnam vie for top spot
Thailand has raised its share of China’s fresh durian supply considerably, putting it in an advantageous position as countries scramble to win a stake in the world’s largest market for the fruit.
China says EU draft on tariffs for Chinese EVs brings ‘enormous risks, uncertainty’
The China Association of Automobile Manufacturers said it firmly opposes a final draft from the European Union on high tariffs for Chinese made electric vehicles, CCTV reported on Wednesday.
Shein Gets Go-Ahead to Build $517M Supply Chain Headquarters in China
The mega warehouse is located within miles of a top garment making district, its primary distribution center and a 400-train railroad hub.
Online brokerage Webull targets young Asian traders ahead of Nasdaq IPO
Set to raise US$100 million in a Nasdaq listing through a SPAC deal, the company eyes Southeast Asia’s young, mobile-savvy population for growth.
China Sends a Permitting Wake-Up Call
U.S. restrictions on mining critical minerals give Beijing military leverage.
China’s money laundering crackdown heightens risk for crypto investors, USDT traders
China’s highest court says use of virtual assets to transfer criminal proceeds is among a range of money laundering methods on the mainland.
China’s eateries slash prices by up to half to woo diners hungry for value, but at what cost?
From hotpot to coffee, F&B brands have been slashing prices to attract increasingly budget-conscious diners in a competitive market. Analysts have questioned if such moves are sustainable, and whether …
China’s gold imports tumble again as prices deter buyers
according to customs data released yesterday. That follows an even sharper decline in June, when shipments plunged 58% from the previous month. China’s voracious appetite for the precious metal, which …
