Singaporean shopping app Shopee, owned by Sea Ltd, has opened five new distribution centers in Brazil in recent months to improve shipping processes and cut lead times, Brazilian newspaper Valor reported on Tuesday. Shopee has become one of Brazil's most-downloaded e-commerce apps since its launch there in 2019, drawing users to its low-cost marketplace. The company told Valor that the new centers are located in the cities of Sao Joao do Meriti, Campinas, Ribeirao Preto, Contagem and Santana do Parnaiba.
Sea's shares had declined in line with the continued fall in the Nasdaq Composite and S&P 500 index. Year to date, the Nasdaq has fallen close to 30% while the bellwether S&P 500 has fallen by 20.2%, putting both indices firmly in a bear market. It didn't help that Sea Limited also released a downbeat set of earnings for its 2022 first quarter.
Inflation is running hot around the world. For instance, while U.S. inflation hit 8.6% in May, many countries in Europe and Southeast Asia have seen prices rise to a lesser extent. With that in mind, Adyen (OTC: ADYE.Y) and Sea Limited (NYSE: SE) offer heavy exposure to Europe and Southeast Asia, respectively, and both stocks are worth buying now and holding for the long term.