Restructured Chinese tech group also plans to continue divestments in portfolio companies, says finance chief
Today is Thursday, March 30th, and this is your FT News Briefing. One of the world’s biggest online retailers is splitting itself up into six smaller companies. The world’s biggest crypto exchange says it’s got nothing to do with China anymore, but our reporter finds otherwise.
Asia's stock markets held recent gains on Thursday, as fears of a banking crisis receded and investors weighed whether a break-up of Chinese conglomerate Alibaba signals Beijing's regulatory storm aimed at tech companies might finally be clearing. Like the S&P 500 it's recovered from March lows hit as fallout from the collapse of Silicon Valley Bank reverberated around global markets. Calmer markets mean investors can now afford to focus more on economics, with German, Spanish and Italian inflation data due later in the day.