Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Snowshoe who wrote (151701)	11/19/2019 7:52:21 AM
From: TobagoJack	Respond to of 218480

The shift is good for trade peace ... reuters.com What trade war? Chinese companies wow with third-quarter report cardBENGALURU (Reuters) - The top 200 Chinese companies spanning consumer, technology, industrial, property and financial industries reported September quarter earnings well ahead of market expectations, setting them up for a strong showing next year, analysts said. FILE PHOTO: A man checks phone at Lujiazui financial district in Pudong, Shanghai, China March 14, 2019. REUTERS/Aly Song These companies mostly beat lowered market expectations as consumer spending remained strong, boosted by Chinese shoppers who opted to buy at home than to travel abroad, as a weaker yuan inflated travel costs. Profits at Chinese companies grew 10% in the July-September period, beating the 2% growth rate analysts had predicted, and ahead of China’s slowing economic growth rate. Only companies with a market capitalization of over $1 billion and tracked by at least three analysts are covered in this analysis. For a graphic on Asian firms Sep profit growth by Country, click here “The sectors that were expected to suffer from the U.S.-China trade conflict — the tech hardware exporters, textiles and sports goods exporters — have largely outperformed consensus expectations,” said Manishi Raychaudhuri, head of equity research at BNP Paribas Asia Pacific. For a graphic on Asian firms Sep profit growth by sector, click here Raychaudhuri added that earnings growth at Asian companies, excluding Japan, is likely to bounce back in 2020, partly as trade concerns recede. For a graphic on Profit growth for Asian firms, click here Below is a report card of the third quarter for Asian companies and expectations for next year. Online retail giants Alibaba Group Holding Ltd ( BABA.N) and JD.com Inc ( JD.O) posted strong sales as people bought baby products and sports gear. Western luxury and mass-market consumer companies had a good quarter as well. Overall, profitability at 1,625 Asian firms fell 5%, versus an expected 6% decline, according to a Reuters analysis of Refinitiv data. Results outperformed estimates for the first time in five quarters. Hong Kong-listed firms are not included in this analysis, as most of them announce earnings results on a semi-annual basis. Profits at 346 South Korean firms nearly halved, dragged down by lower chip prices and a fluctuation in commodity prices. Profit at Samsung Electronics Co Ltd ( 005930.KS) fell 56%. Smaller rival SK Hynix Inc ( 000660.KS) posted its lowest profit in three years. Steelmaker Posco’s ( 005490.KS) earnings plunged by a third as iron ore prices rose. Profits at 201 Indian firms rose 29.5%, led by consumer staples, financial and healthcare firms and helped by a corporate tax cut. Profits at 673 Japanese firms which exclude SoftBank Group Corp ( 9984.T), fell 1%, in line with estimates, as the yen firmed and demand fell for export items such as cars and machinery. The top three Japanese steelmakers and carmakers Suzuki Motor Corp ( 7269.T) and Mitsubishi Motors Corp ( 7211.T) have reduced their annual profit forecasts. ** Analysts expect profits at Asian firms to jump 13% in 2020, versus a 5% estimated increase this year, helped partly by recovering global demand as trade worries ease further. Reporting By Patturaja Murugaboopathy and Gaurav Dogra in Bengaluru; Edited by Sayantani Ghosh and Shounak Dasgupta

To: Snowshoe who wrote (151701)	11/19/2019 7:55:11 AM
From: TobagoJack	Respond to of 218480

Capital war seems to start well-enough ... reuters.com Chinese AI start-up Megvii seeks approval for Hong Kong IPO of at least $500 million: sources HONG KONG (Reuters) - Chinese artificial intelligence (AI) firm Megvii Technology Ltd plans to seek listing approval on Thursday for a Hong Kong initial public offering (IPO) of at least $500 million, people with direct knowledge of the matter said. However, Beijing-based Megvii, which is backed by e-commerce giant Alibaba Group and is widely known for its facial recognition platform Face++, has yet to decide whether to carry out a roadshow once approval is granted, one of the people said. Sources had previously told Reuters the listing was scheduled for Hong Kong in the fourth quarter and might raise as much as $1 billion. The latest move comes weeks after the U.S. government placed Megvii and seven other Chinese companies on a trade blacklist over their alleged involvement in human rights violations related to Beijing’s repression of Muslim minority populations in the Xinjiang Uighur Autonomous Region. Goldman Sachs, which is a joint sponsor of the Megvii IPO alongside Citigroup and JPMorgan, last month said in an emailed statement in response to a request for comment on the Megvii IPO that it was “evaluating in light of the recent developments”. Megvii last month said it “strongly objects” to being added to the blacklist and there were “no grounds” for the designation. In a statement, it said around 1% of revenues were derived from Xinjiang in 2018 and none in the six months ended June 30. Megvii and the three banks declined to comment. Hong Kong, which topped the global charts in 2018 for funds raised through IPOs, has been roiled by nearly six months of political crisis. But IPO activity in the city has picked up since September, marked by AB InBev’s Budweiser Brewing Company APAC Ltd, which raised about $5 billion in Hong Kong’s biggest IPO so far this year. Alibaba last week also launched the share sale for its Hong Kong listing, aiming to raise up to $13.4 billion in what would be the biggest follow-on share sale globally in seven years, according to Refinitiv data. Founded in 2011 by Chief Executive Yin Qi and two friends from Tsinghua University, Megvii will become the first Chinese AI firm to go public if the deal goes ahead. The company provides AI technology to governments and companies including Alibaba, Ant Financial, Lenovo Group Ltd and Huawei. Its $750 million fundraising in May valued the company at slightly over $4 billion and attracted investors including Bank of China Group Investment Ltd, Macquarie Group and the Abu Dhabi Investment Authority. Reporting by Julie Zhu and Scott Murdoch; editing by James Drummond

To: Snowshoe who wrote (151701)	11/19/2019 7:58:20 AM
From: TobagoJack	Respond to of 218480

Huawei stance helps to maintain technology peace ... reuters.com Huawei plays down impact of new U.S. license extensionWASHINGTON (Reuters) - Huawei Technologies has dismissed a new 90-day extension by the Trump administration allowing U.S. firms to continue doing business with the Chinese company as making little difference, repeating that it was being unfairly treated. U.S. regulators are crafting rules on telecommunications firms that pose national security risks. But after adding Huawei to an economic blacklist in May, the U.S. Commerce Department has allowed it to purchase some American-made goods. Its 90-day license extensions aim to minimize disruption for its customers, many of which operate networks in rural America. Huawei said on Monday that the latest extension would not “have a substantial impact on Huawei’s business either way”. “This decision does not change the fact that Huawei continues to be treated unfairly either,” the Chinese firm said. The extension comes as the United States and China try to resolve a trade war that has lasted for more than a year, with Huawei one of its most visible targets. Beijing reiterated on Tuesday that it hopes Chinese companies will be treated fairly. “We urge the U.S. to stop abusing export controls to discriminate against the firms of another country in the name of national security, and to stop politicizing a trade problem,” Foreign Ministry spokesman Geng Shuang said on Tuesday. Reuters on Sunday reported the 90-day extension after the administration of President Donald Trump had initially planned a two-week reprieve, but ran into bureaucratic issues. “The Temporary General License extension will allow carriers to continue to service customers in some of the most remote areas of the United States who would otherwise be left in the dark,” U.S. Commerce Secretary Wilbur Ross said. FILE PHOTO: The Huawei logo is pictured at the IFA consumer tech fair in Berlin, Germany, September 6, 2019. REUTERS/Hannibal Hanschke -/File Photo “The Department will continue to rigorously monitor sensitive technology exports to ensure that our innovations are not harnessed by those who would threaten our national security,” Ross said in a statement on Monday. The U.S. Commerce Department added Huawei to its “Entity List” in May, concluding it was engaged in activities “contrary to U.S. national security or foreign policy interests.” Huawei said the decision to add it to the list had caused more harm to the U.S. than to Huawei. “This has done significant economic harm to the American companies with which Huawei does business,” it added. In May, Trump also signed an executive order declaring a national emergency and barring U.S. companies from using telecommunications equipment made by companies posing a national security risk. The Commerce Department was directed to draw up an enforcement plan by mid-October but has yet to publish one. The Commerce Department is also considering whether to grant individual licenses for U.S. firms to sell components to Huawei after receiving more than 200 requests. No action was taken on those on Monday. Reporting by David Shepardson; additional reporting by Mathieu Rosemain in Paris and Huizhong Wu in Beijing; Editing by Susan Heavey, Nick Zieminski and Alexander Smith