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5 Hours Ago
CNBC Pro: These 10 China-focused ETFs are up this year – and one is expected to go by nearly 40%
Chinese stock markets have failed to perform in 2023.
Major China-focused indexes have lost money for investors over the past week, this month, the past three months, the past six months, and the past year. Only patient investors who entered the market five years ago would barely be in the black.
CNBC Pro screened for ETFs and found 10 that have gained value this year in spite of the odds, and with the potential to rise further. Subscribers can read more here.
— Ganesh Rao
4 Hours Ago
Alibaba shares tumble after Daniel Zhang unexpectedly quits cloud business
Shares of Chinese tech giant Alibaba fell 3.5% on Monday, after the company said in a surprise move that outgoing CEO Daniel Zhang will step down as chairman and CEO of its cloud business.
The move comes months after Alibaba said in June that Zhang was departing as chairman and CEO of Alibaba Group to focus on the cloud intelligence unit.
Eddie Wu, who was set to take over from Zhang as CEO and director of Alibaba Group from September, will now also be chairman and CEO of the cloud business on an interim basis
Read the full story here.
6 Hours Ago
CNBC Pro: What China slowdown? Three Chinese companies making big money globally
3 Hours Ago
European markets: Here are the opening calls
European markets are expected to open in mixed territory Monday.
The U.K.’s FTSE 100 index is expected to open 11 points higher at 7,487, Germany’s DAX up 2 points at 15,736, France’s CAC 2 points lower at 7,241 and Italy’s FTSE MIB up 2 points at 28,234, according to data from IG.
Data releases include Italian industrial output for July and Russian foreign trade for the same month.
— Holly Ellyatt
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