![]() Monday: Kuaishou (1024 HK) is expected to meet, or even beat, estimates. For more on what’s going on in other regions, see the US Earnings Week Ahead or the EMEA Earnings Week Ahead, and see the ESG Week Ahead for a selection of the environmental, social and governance themes that may come up on earnings calls.To subscribe to earnings coverage across your portfolio or other earnings analysis, run NSUB EARNINGS function on the Bloomberg terminal.As the region’s earnings season winds down, Asia Earnings Week Ahead will pause for the quarter and resume in late June. ![]() The nation’s central bank kept loan prime rates unchanged for May. Chip stocks in Asia rose after the country’s announcement.Ĭlouding the outlook, China’s latest economic data showed the recovery is losing momentum after an initial burst in consumer and business activity early in the year, prompting calls for more policy stimulus. The e-commerce leader said it will explore initial public offerings for two units and spin off its cloud arm after it posted sales that missed estimates.īut in an escalation of its semiconductor war with US, China said on Sunday that it found cybersecurity risks in Micron Technology Inc. Alibaba Group recently cleared a regulatory review by the US Securities and Exchange Commission for its fiscal 2022 annual report. The recent meeting between US and China officials is also easing geopolitical tensions as it set the stage for a possible call between the two countries’ leaders. ![]() This may signal an uneven recovery among Chinese tech giants.Ī return to growth would mark a revival for the tech stocks, which have been heavily discounted in the past two years amid regulatory crackdown and stern Covid policies, Bloomberg Intelligence analyst Marvin Chen said. Tencent’s revenue growth was at its fastest pace in more than a year supported by China’s border reopening post-Covid, but sales from its advertising business missed forecast. said an advertising rebound led to a stronger-than-expected 10% jump in the first quarter revenue. Earlier, internet search leader Baidu Inc. NetEase Inc., Xiaomi Corp., Meituan and Kuaishou Technology are among major players scheduled to announce their results. (Bloomberg) - China’s tech behemoths will shed more light on their prospects this week after peers signaled the industry is emerging from a volatile few years.
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