9988.HK

Walmart Inc. opened its first store in China in 1996, a sprawling supercenter in the Hong Kong border city of Shenzhen. It has been working to find the right strategy ever since.Walmart has grown in China, but slower than competitors. Its giant hypermarkets, which it originally hoped would enable it to become a retail leader in China, have struggled for years to keep pace with Chinese retailers, known for their array of local products and more recently for fast home deliveries. More…

Didi Global Inc.’s DIDI -2.97% bumpy ride in the U.S. public markets is over—after 11 months.The ride-hailing company marked its last day as a New York Stock Exchange-traded company Friday, according to a person familiar with the matter, after an ill-fated debut helped turn it into a poster child for China’s tech crackdown. The Beijing-based company raised about $4.4 billion in June of 2021, in one of the biggest stock sales for a Chinese company since…

Chinese internet stocks jumped to a three-month high after regulators in China cleared dozens of videogames for release, a move investors welcomed as a new sign that Beijing is softening its stance on the technology sector.Late Tuesday, the country’s National Press and Publication Administration said it had approved 60 videogame titles. The regulator had given the green light to a smaller batch of games in April, and before that hadn’t granted any approvals since last July. Shares in Bilibili Inc.,…

Chinese internet stocks jumped, after results from Alibaba BABA 14.79% Group Holding Ltd. and Baidu Inc. BIDU 14.14% came in ahead of the market’s downbeat expectations. The rally, which extended a period of extraordinary volatility for the sector, began in the U.S., where American depositary receipts in both companies leapt by more than 10% Thursday. That helped fuel a 7.6% advance in…

Chinese e-commerce giant Alibaba BABA -0.19% Group Holding Ltd. posted its slowest quarterly revenue growth since it went public in 2014, as China’s Covid-19 restrictions and an economic slowdown added to the financial toll of a regulatory crackdown. For the quarter that ended in March, the Hangzhou-based company’s revenue rose 9% from the same period a year earlier to 204.1 billion yuan, or $32.2 billion, based on an exchange rate of…

TOKYO— SoftBank Group Corp. 9984 10.64% , one of the world’s most aggressive high-tech investors, said Thursday it lost more money in its last fiscal year than it ever has—$13.2 billion—and will cut back its pace of new investments.“The world is in a chaotic situation,” said Chief Executive Masayoshi Son, citing Covid-19 and Russia’s invasion of Ukraine. “In this chaotic world, the approach we at SoftBank should take is defense.” The rough…

Chinese companies like Alibaba Group Holding Ltd. BABA -5.79% are embracing buybacks and one-off dividends, handing cash to shareholders as they seek to shore up their battered stock prices and signal confidence in the long-term outlook. The dividend payouts and stock repurchases could help support a market that has been rattled by a series of challenges, which range from the economic impact of Beijing’s Covid-19 policies and sweeping regulatory crackdowns to concerns…

SINGAPORE—China is preparing to hit pause on its monthslong campaign against technology companies, according to people familiar with the matter, as officials seek to arrest a rapid deterioration in the country’s economic outlook.China’s top internet regulator is set to meet next week with the country’s embattled tech giants to discuss the regulatory campaign, according to the people, who described the meeting as a sign that officials acknowledge the toll the regulations have had on the private sector at a time when…