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Nintendo's surge on China entry prospects has not deterred short bets by hedge funds

Nintendo Co. shares have surged this year thanks to a stellar games line-up and potential entry into China. But the hedge funds betting against the company aren’t going away.Nintendo’s stock has rallied 27 per cent this year, the best start since 2015. Still, short sales, or bets the stock will fall, are more than double their level a year ago. Hedge funds even added to those positions last Friday – the day Nintendo shares rallied 15 per cent as China gave a nod to Switch game sales in the… Source…

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Stocks Blog: China's stocks face headwinds as traders weigh where to place their bets

Got a bit of jitters? If so, you aren’t alone among traders in mainland and Hong Kong markets, where bears came out swinging Monday, sending the Shanghai benchmark down for the third consecutive trading day and the Hang Seng to its lowest level in nearly two weeks. Check in with us throughout the day to catch up on the latest action. We also feature our “Crystal Ball,” in which leading experts offer you their insights on where they think sectors and companies are going.  Your market guides… Source link

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Hong Kong virtual bank among Standard Chartered’s digital bets as bank aims to improve returns

Standard Chartered hopes to make its proposed virtual bank in Hong Kong a key pillar of its digital strategy as the lender looks to streamline and grow its retail business in parts of Asia and Africa, Bill Winters, the bank’s chief executive, said on Tuesday.The lender, which is based in London but generates much of its revenue in Asia, is waiting to hear whether it will receive one of the first virtual bank licences that the Hong Kong Monetary Authority plans to issue this year.Speaking at the… Source link

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Not ‘typical foreigners’, says Raffles chairman as Singapore hospital operator bets big on China market

Patience is key to international companies cracking China’s health care market, the world’s second-largest, Dr. Loo Choon Yong, chairman of Singapore-based Raffles Medical Group, said on Saturday.Singapore’s largest private medical services operator, Raffles is betting on mainland China to drive growth amid muted prospects at home. It opened an 800 million yuan (US$119.09 million) fully owned and run hospital in the southwestern city of Chongqing in January, and expects to open a second one in… Source link

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Ecommerce 

Lazada bets on Chinese e-commerce models to win big in burgeoning Southeast Asian markets

Lazada Group, the Southeast Asian e-commerce platform, is betting on the tried-and-tested technology and e-commerce models of parent company Alibaba Group Holding as it strives to conquer the largely untapped online shopping market in the region.Lazada has adopted Alibaba’s technology to power its platform, and this week announced a host of tools for sellers on its online shopping centre Lazmall to build its brand and better engage with users. Merchants and retailers on Lazmall can now do… Source link

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Ecommerce 

Alibaba bets on Frenchman at Lazada to lead high-stakes Southeast Asia expansion

In December, Alibaba Group Holding put Pierre Poignant in charge of Lazada, the subsidiary spearheading the Chinese e-commerce giant’s high-stakes Southeast Asia expansion.The choice was out of character for several reasons. Poignant is a professional manager – a type Alibaba supremo Jack Ma has long disdained. He was part of Lazada’s founding team, also typically disqualifying. Finally, as a Frenchman, he is one of a very few Westerners to have cracked Alibaba’s upper echelons.New York-listed… Source link

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Singapore 

Couple who collected illegal 4-D bets to pay Government $1.1 million, Singapore News

SINGAPORE – The die is cast for a criminal couple running an illegal 4-D betting operation. On Tuesday (Jan 15), Heng Ee Howe, 60, was ordered to pay the Government $1,093,246.92 while his 55-year-old wife, Tin Suh Chyong, will hand over $29,669.81. Police said on Thursday that the amounts were “unexplained wealth… disproportionate to their known sources of income”. The money, accumulated between June 1, 2010, and June 3, 2015, is believed to be from illegal betting activities conducted by the couple. A joint investigation by the Commercial Affairs Department…

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German private equity fund bets on bitcoin mining in cryptocurrency slump

While thousands of miners in China, hurt by the recent slump in bitcoin, have called it a day, German private equity firm Xolaris is preparing to launch a US$50 million bitcoin farming fund targeting Asian investors. The Munich-based private equity manager’s entry into the Asian market, including a new office set up in Hong Kong in July, comes at a time when cryptocurrencies have lost as much as US$700 billion in market capitalisation this month.   Stefan Klaile, managing partner of Xolaris Group, said subscription for the Asian fund would…

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Singapore bets on drones to reduce dependence on human labour

Hi-tech Singapore is planning to roll out a swarm of drones for tasks that include delivering parcels, inspecting buildings and providing security, but safety and privacy concerns mean the initiative may hit turbulence. Companies have already started testing the devices for commercial use, mainly in an area of over 200 hectares (500 acres) dotted with high-rise buildings and shopping malls, specially designated by the government for the trials. Latest DJI Mavic 2 Zoom drone brings users closer to action It is part of the affluent city’s drive to embrace technological…

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China’s biggest snack food retailer Shanghai Laiyifen bets on quality imported products to revive flagging sales

Shanghai Laiyifen, the publicly traded snack food retailer with the most number of shops in China, aims to increase sales of overseas sourced products by 30 per cent in the next few years, as it taps increasing demand from a growing middle class. Revenues from sales of overseas products ranging from food to beverages will probably reach 300 million yuan (US$43.2 million) this year and the proportion is likely to account for about 10 per cent of the company’s annual sales, said Yu Ruifen, founder and president of Laiyifen, at…

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