Shares of larger-than-life cinema technologist Imax (NYSE:IMAX) closed Monday’s trading 8.4% higher, having risen 10.2% earlier in the day. The stock rose thanks to an impressive second-weekend showing of Walt Disney’s (NYSE:DIS) latest superhero movie.
Shang-Chi and the Legend of the Ten Rings dominated the box office in its second week, collecting domestic ticket sales of $35.8 million. By comparison, Free Guy from another Disney-owned subsidiary, 20th Century Studios, landed in second place with a domestic showing worth $5.8 million.....More>>>
China will encourage market consolidation in the electric-vehicle sector, an industry it has nurtured for years amid the breakneck growth of greener transportation, the country’s industry and information technology minister said Monday.
In addition to improving charging infrastructure and electric-vehicle mileage, China’s EV sector must “embrace the market,” Xiao Yaqing said in a press conference Monday, translated by Chinese state-owned channel CGTN. This will allow many small and scattered firms to “concentrate their industrial practices,” the minister said.
By Clarence Leong
Hong Kong Exchanges & Clearing Ltd.’s third-quarter profit fell 30%, as sluggish trading activities weighed on its revenue.
The exchange operator on Wednesday posted net profit of 2.26 billion Hong Kong dollars (US$287.9 million) for the quarter, compared with HK$3.25 billion in the year-earlier period.
Revenue dropped 23% to HK$3.94 billion, weighed by declines in trading and clearing fees, it said. The headline average daily turnover fell 41% to HK$97.6 billion.
Hong Kong’s initial-public-offering market showed a recovery from....More>>>
Recent research by blockchain analytics firm Chainalysis reveals that cryptocurrencies saw an impressive growth rate over the last year.
What Happened: According to a Wednesday Chainalysis paper, “global cryptocurrency adoption is skyrocketing,” having “grown by over 880% in the last year.”
At the end of last year's second quarter, total global adoption stood at 2.5, while at the end of Q2 2021, it stood at 24.
This data suggests that “global adoption has grown by over 2300% since Q3 2019.”
Still, the United States and....More>>>
Alibaba Group Holding (NYSE:BABA) is being crushed by politics, on both sides of the Pacific. Regulatory woes domestically and internationally are eating into BABA stock, toppling a company with otherwise fantastic valuation.
Source: testing / Shutterstock.com
China’s leading Cloud Emperor is down nearly 30% so far in 2021. All the technical signs are bearish. Chinese President Xi Jinping has hit the company with harsh regulations.
The crackdown on Chinese tech companies by the government has some investors considering Chinese investing as a whole. Alibaba doubly....More>>>