A man walking past a logo of fast fashion e-commerce company Shein outside its office in Guangzhou in southern China’s Guangdong province. Jade Gao | Afp | Getty Images The bottom of the barrel prices that have made Chinese-linked e-tailers Shein and Temu so popular with American consumers could soon rise if the Biden administration … Read more
The Alibaba Group logo displayed on a mobile phone. Cfoto | Future Publishing | Getty Images Chinese tech giant Alibaba on Wednesday said that its core Taobao and Tmall e-commerce platforms will now allow payment through Tencent’s WeChat app for the first time. Previously, Alibaba’s Chinese e-commerce sites only accepted limited payment options and pushed … Read more
China’s slow post-Covid recovery could be a lasting headwind for its stock market. With the mainland’s two largest indexes — the Shanghai Composite and the Shenzhen Composite — each negative so far in 2024, KraneShares Chief Investment Officer Brendan Ahern thinks government stimulus is necessary to kick-start the country’s stock market performance. “Investors, particularly in … Read more
The Nvidia logo at Computex in Taipei, Taiwan, on June 5, 2024. Ann Wang | Reuters This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here. What … Read more
Jakub Porzycki | Nurphoto | Getty Images The nearly 30% drop in shares of Chinese online retailer PDD Holdings is “too much of a correction,” according to Shaun Rein, founder and managing director of the China Market Research Group. Speaking to CNBC’s “Street Signs Asia,” Rein said the “panic was overblown last night,” and that … Read more
Traders work on the floor of the New York Stock Exchange during morning trading on August 20, 2024 in New York City. Michael M. Santiago | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no … Read more
Traders work on the floor of the New York Stock Exchange during morning trading on August 20, 2024 in New York City. Michael M. Santiago | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no … Read more
Traders work on the floor of the New York Stock Exchange during morning trading on Aug. 20, 2024. Michael M. Santiago | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. … Read more
Shein and Temu. Yuki Iwamura | Bloomberg | Stefani Reynolds | AFP | Getty Images Chinese-linked fast-fashion giant Shein is suing rival Temu, alleging the retailer stole its designs and built an empire using counterfeiting, intellectual property infringement and fraud. The suit, filed Monday in Washington, D.C., federal court, comes as Shein itself fends off … Read more
A person seen walking next to the Alibaba’s corporate logo, in front of its office building at Chaoyang Technology Park in Beijing, China. Sopa Images | Lightrocket | Getty Images BEIJING — Chinese e-commerce giants Alibaba and JD.com‘s quarterly results from Thursday underscored the slowdown in China’s consumer market, with retailers struggling to attract value-conscious … Read more
