Straits Times Index
3,323.20 -6.89 (-0.21%) S&P 500
5,273.91 -32.13 (-0.61%) Dow
38,497.39 -355.47 (-0.91%) Nasdaq
16,953.69 -66.19 (-0.39%) Bitcoin USD
67,748.22 -137.59 (-0.20%) CMC Crypto 200
1,452.84 -31.85 (-2.15%)
BABA May 2024 78.000 call
- Benzinga
Temu's Growth Surge Makes Parent PDD Surpass Alibaba as China's Most Valuable E-Commerce Giant
PDD Holdings Inc (NASDAQ:PDD) and Alibaba Group Holding Limited (NYSE:BABA) have played pivotal roles in China’s e-commerce sector. PDD’s value-for-money strategy and the growth of its Temu marketplace have helped it surpass Alibaba in market value, making it the most valuable company in the segment. PDD Holdings reported impressive first-quarter results, boosting its shares by 7.5% and raising its market capitalization to about $208 billion, compared to Alibaba’s $196 billion, CNBC reports. PDD
- Moneywise
‘Big Short’ investor Michael Burry just made a big bet on gold — and dumped tech giants Alphabet and Amazon
A bullish bet on a safe haven asset.
- South China Morning Post
Lenovo issues US$2 billion convertible bonds to Saudi Arabia sovereign fund to finance debt repayment, expansion
Lenovo, the world's largest PC maker, is raising US$2 billion by issuing zero-coupon convertible bonds to a unit of Saudi Arabia's sovereign wealth fund, close on the heels of similar offerings made by e-commerce giants Alibaba and JD.com as issuers seek to lower funding costs. The three-year bonds will pay no interest but give the investor, Alat, a subsidiary of the Saudi Arabia's Public Investment Fund (PIF), the option to convert its holdings into shares at an initial conversion price of HK$1
