Advertisement
Singapore markets open in 8 hours 45 minutes
  • Straits Times Index

    3,367.90
    +29.33 (+0.88%)
     
  • S&P 500

    5,474.91
    -0.18 (-0.00%)
     
  • Dow

    39,103.99
    -65.53 (-0.17%)
     
  • Nasdaq

    17,896.69
    +17.39 (+0.10%)
     
  • Bitcoin USD

    61,823.90
    -1,386.36 (-2.19%)
     
  • CMC Crypto 200

    1,308.50
    -36.00 (-2.68%)
     
  • FTSE 100

    8,121.20
    -45.56 (-0.56%)
     
  • Gold

    2,331.90
    -7.00 (-0.30%)
     
  • Crude Oil

    83.10
    -0.28 (-0.34%)
     
  • 10-Yr Bond

    4.4460
    -0.0330 (-0.74%)
     
  • Nikkei

    40,074.69
    +443.63 (+1.12%)
     
  • Hang Seng

    17,769.14
    +50.53 (+0.29%)
     
  • FTSE Bursa Malaysia

    1,597.96
    -0.24 (-0.02%)
     
  • Jakarta Composite Index

    7,125.14
    -14.48 (-0.20%)
     
  • PSE Index

    6,358.96
    -39.81 (-0.62%)
     

UPDATE 1-China's Cyberspace Administration is conducting review of Shein -WSJ

(Adds details from WSJ report in paragraph 2-3 and background in paragraphs 5-6)

Jan 17 (Reuters) - The Cyberspace Administration of China is conducting a cybersecurity review of online retailer Shein's data handling and sharing practices, the Wall Street Journal reported.

China's internet regulator is looking at how Shein handles information on its partners, suppliers and staff in China, and if the fashion company can protect such data from leaking overseas, WSJ reported, citing people familiar with the matter.

The government is also interested in the type of Chinese data that the company will disclose to regulators in the U.S. as Shein seeks a listing there, the newspaper reported.

ADVERTISEMENT

Shein did not immediately respond to a request for comment.

This comes as Shein seeks Beijing's nod to go public in the United States and could potentially complicate the fast fashion retailer's listing plans, which have run into political opposition in the United States.

Shein, which according to Reuters sources was valued at $66 billion in a fundraising in May, filed its planned U.S. IPO with the China Securities Regulatory Commission (CSRC) in November.

(Reporting by Chandni Shah in Bengaluru; Editing by Muralikumar Anantharaman and Sonali Paul)