Latest news with #Tencent
Yahoo
7 hours ago
- Business
- Yahoo
Chinese Stocks in Hong Kong Poised for Highest Close Since 2021
(Bloomberg) -- A key gauge of Chinese stocks traded in Hong Kong was on course for its highest close since November 2021, boosted by easing Sino-American trade tensions and gains in heavyweight tech shares. Trump Awards $1.26 Billion Contract to Build Biggest Immigrant Detention Center in US Why the Federal Reserve's Building Renovation Costs $2.5 Billion Salt Lake City Turns Winter Olympic Bid Into Statewide Bond Boom Milan Corruption Probe Casts Shadow Over Property Boom How San Jose's Mayor Is Working to Build an AI Capital The Hang Seng China Enterprises Index jumped as much as 1.8% on Wednesday, topping a previous year-to-date high hit on March 18. Baidu Inc. and Tencent Holdings Ltd. were among the top performers in the gauge. Hong Kong's benchmark Hang Seng Index advanced 1.6%. The move cements a rapid rebound following the April turmoil triggered by US President Donald Trump's tariff threats. Treasury Secretary Scott Bessent said he will meet his Chinese counterparts in Stockholm next week for discussion aimed at extending a tariff truce, suggesting a continued stabilization in ties after the US recently eased chip curbs and China resumed rare earths exports. Investors are also looking to the country's Politburo meeting later this month to set the tone for policy measures in the second half of the year. Markets have reacted positively to recent moves by Beijing to curb excessive price wars and overcapacity in some sectors, seeing them as a significant step toward tackling deflation. 'Geopolitical tensions between China and the US de-escalated notably not only for trade issues but also the technology disputes,' said Jason Chan, a senior investment strategist at Bank of East Asia. Trump saying he may meet President Xi Jinping in the near future has boosted optimism that trade talks between two nations are on the right track, he added. The Hang Seng China gauge has gained roughly 26% so far this year, beating the S&P 500's 7% advance and the MSCI Asia Pacific Index's 15% advance. HSCEI is trading at about 10 times its forward earnings estimates, below the Asian benchmark's ratio of nearly 15. On the mainland, the CSI 300 Index has climbed about 5% for the period. Despite a slew of positives, some analysts warn the rally may take a breather. Strategists at UBS said Hong Kong stocks will have limited upside for the rest of this year, citing potential earnings downgrades driven by intensifying competition in food delivery and other sectors. Wednesday's equity moves track broad gains across Asia, aided by Trump's announcement of a deal with Japan that puts levies at 15% — down from a threatened 25% tariff. MSCI's China Index, which includes both onshore and offshore stocks, gained nearly 2% on Wednesday, headed for its highest close since February 2022. Stocks in Hong Kong have been supported in 2025 by a surge in inflows from mainland investors. Southbound net inflows expanded by another HK$2.7 billion ($344 million) Tuesday, taking this year's total to HK$800 billion, a whisker away from 2024's previous record of HK$808 billion. 'The market had rallied to some degree but it's not expensive still compared to some other markets,' said Keiko Kondo, head of multi-asset investments for Asia at Schroder Investment Management. 'So from the valuation point, it doesn't stretch, therefore I think there is definitely room to go.' --With assistance from Zhu Lin. (Updates with analyst comment in fifth paragraph.) Elon Musk's Empire Is Creaking Under the Strain of Elon Musk Burning Man Is Burning Through Cash A Rebel Army Is Building a Rare-Earth Empire on China's Border Thailand's Changing Cannabis Rules Leave Farmers in a Tough Spot How Starbucks' CEO Plans to Tame the Rush-Hour Free-for-All ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
8 hours ago
- Sport
- Yahoo
"He might be the most popular guy in Las Vegas" - Yang Hansen has been 2025 Summer League's biggest sensation
"He might be the most popular guy in Las Vegas" - Yang Hansen has been 2025 Summer League's biggest sensation originally appeared on Basketball Network. Yang Hansen may have been the biggest surprise of the 2025 NBA Draft. He was projected to go outside the first round, but the Portland Trail Blazers took a bold swing by selecting him 16th overall. But so far, the risk has paid off. Hansen has become the breakout star of the Summer League, attracting a Chinese documentary crew to Las Vegas and drawing massive social media audiences. "[Yang] might be the most popular guy in Las Vegas," Blazers Summer League coach Ronnie Burrell said, per Ben Golliver of The Washington Post. "I got to play basketball internationally, and I understand what's it like to play as a foreigner. To watch the grace and the joy he handles it with is impressive. I wasn't able to do that, and I was older than him when I was traveling abroad. I'm amazed by him." Massive Chinese following At 7'1", it's hard to miss the 20-year-old center. However, it isn't just Hansen's height that has made him popular. The fact that he is the first Chinese player selected in the first round of the NBA draft since Yi Jianlian in 2007 is enough for the world's most populous country to rally behind him. Hansen has been nothing short of a phenomenon. According to Golliver, Tencent, the Chinese media company, has a film crew following him around. It was supposedly for a 10-part documentary series, not to mention dozens of journalists from the East Asian nation covering his games. Moreover, fans from China travelled to Sin City in droves, many of them wearing his No. 16 Blazers jersey. Even more astonishing is that more than 5.2 million Chinese viewers watched Tencent's free broadcast of the Blazers vs. Memphis Grizzlies game. That's nearly five times the number of Americans who viewed Cooper Flagg's Summer League debut with the Dallas Mavericks (1.1 million). Additionally, according to Golliver, one of Hansen's Summer League games drew more than 3.4 million paid viewers, 16 times Tencent's average. "Since the draft, Portland's retail sales have increased 1,091 percent compared with 2024, and its TikTok account has collected more than 30 million views, according to a team official," wrote Golliver. "In less than a month, the Blazers have added nearly 900,000 followers on Chinese social media platforms such as Weibo and Douyin, outpacing all other NBA teams in engagement during that time period."More than a novelty Analysts and fans alike questioned the Blazers' decision to draft Hansen. Some believed the moves had more to do with marketing than basketball. Even if that were true, it's not the worst way to attract more fans. However, aside from having a massive following behind him, Hansen is very skilled as a player. He has a penchant for squeezing the ball into tight places only his teammates could reach, and a fun, nonchalant personality. In four Summer League games, Hansen averaged 10.8 points, 5.0 rebounds and 2.3 blocks per game before being shut down. He recorded a total of 15 assists over that span. Of course, Hansen is still raw in some aspects. He is slow on his feet has to develop an outside shot to get meaningful rotation minutes. At this point, he should be behind Donovan Clingan and Robert Williams III in Portland's depth chart, but given the latter's injury history and Clingan's offensive limitations, he might get a shot sooner than most people think. If Hansen's Summer League performance is any indication, the Blazers might have done more than stumble into a marketing win. He could be a contributor who brings something different to the table at the center position. And if he holds his own once the real games begin, Portland won't just have China's attention. They'll have everyone' story was originally reported by Basketball Network on Jul 22, 2025, where it first appeared.
Int'l Business Times
21 hours ago
- Business
- Int'l Business Times
Games Giant Ubisoft Bets On Reorganisation To Dispel Blues
Struggling French video games giant Ubisoft shed light on a far-reaching reorganisation of its business Tuesday, as it reported disappointing sales in April-June. The internal rejig into a slew of autonomous units aims for "a more agile and focused organisation while ensuring necessary long-term stability and creative vision", chief executive Yves Guillemot said in a statement. Ubisoft reported 311 million euros ($364 million) of sales in the first quarter of its 2025-26 financial year, a fall of 3.9 percent compared with the same period last year, largely driven by technical problems with shooter game "Rainbow Six Siege". Acknowledging "mixed results", Guillemot nevertheless hailed the release of "Assassin's Creed Shadows". The latest instalment in the money-spinning franchise "delivered on its expectations, with now more than five million unique players since launch," he said in a statement. Sales were slightly less impacted, losing 2.9 percent, when measured using Ubisoft's own preferred indicator of "net bookings", which excludes some deferred revenues. The company forecast net bookings of around 450 million euros in its second financial quarter, boosted by new partnerships and revenue from TV series. For the full financial year, it confirmed objectives including stable year-on-year net bookings and "approximately break-even" operating profit. Ubisoft made a net loss of 159 million euros in 2024-25 and is in the midst of a cost-cutting plan that has seen it shut several studios outside France and slash over 2,000 jobs. Its woes reflect broader, global headwinds for the video games industry over the past two years. Guillemot -- a member of the founding family that has run Ubisoft for decades -- also said the company had made "meaningful progress" on the plan to split its activities among several "creative houses", each responsible for a different slate of games. Ubisoft has not gone into detail about the functioning of the new units or how its remaining franchises will be divided among them, promising further information about the reorganisation by October. In an email to staff last week seen by AFP, Guillemot had said the units would be "autonomous" and "completely responsible for their business objectives". Pressured to change by a string of disappointing releases and a slumping stock price, Ubisoft created the first such subsidiary earlier this year in a billion-euro deal with heavyweight Chinese investor Tencent. The 3,000-strong unit will control Ubisoft's biggest franchises in "Assassin's Creed", "Rainbow Six" and "Far Cry". Ubisoft said last week that the subsidiary will be run by the CEO's son Charlie Guillemot alongside Christophe Derennes, a veteran chief of the company's major development studio in Montreal. "Christophe, Charlie and their teams will benefit from advice and expertise from Tencent," one of China's largest gaming and internet firms, Yves Guillemot said in his email to staff. Looking ahead, Ubisoft plans to release in March a remake of "Prince of Persia: The Sands of Time", one of its most popular titles from two decades ago. Strategy series "Anno" will get a new episode set in ancient Rome while the company is also cooking up mobile versions of "Rainbow Six" and fellow shooter "The Division". It warned in May however that several unannounced major titles were being delayed. Such news has contributed to a 28-percent slump in Ubisoft's stock price since January. Ubisoft's image has also been harmed by a high-profile case in which three former executives were sentenced this month for enabling a culture of sexual and psychological harassment.
Yahoo
21 hours ago
- Business
- Yahoo
Ubisoft unveils 'Creative Houses' model as first-quarter bookings miss expectations
By Leo Marchandon and Noemie Naudin (Reuters) -France's lead videogame maker Ubisoft announced on Tuesday a sweeping reorganisation of its internal structure, shifting to autonomous "Creative Houses" tailored to specific gaming genres, as it reported first-quarter net bookings that fell short of expectations. The company said in a call that the leadership of each Creative House would be selected based on specific gaming genres, and could include those from creative or technical backgrounds, as part of the new approach. "These units will reflect our diverse types of gaming experiences and will allow for enhanced quality, focus, autonomy and accountability," CEO and co-founder Yves Guillemot said in a statement. The first such unit, jointly owned with China's Tencent, will manage flagship franchises including Assassin's Creed, Far Cry, and Rainbow Six. Co-CEOs Christophe Derennes and Charlie Guillemot will lead brand development across multiple platforms. Ubisoft plans to roll out the full organisational changes by the end of the year. The company reported first-quarter net bookings of 281.6 million euros ($305.7 million), missing its target of around 310 million euros and marking a 2.9% decline from the same period of last year. It attributed the shortfall to a weaker-than-expected performance from the Rainbow Six Siege game and the delay of a partnership now expected in the second quarter. Despite the miss, Ubisoft reiterated its full-year guidance and forecast second-quarter net bookings of approximately 450 million euros. Upcoming releases include Anno 117: Pax Romana, a Prince of Persia remake, and mobile titles Rainbow Six Mobile and The Division Resurgence. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Reuters
21 hours ago
- Business
- Reuters
Ubisoft unveils 'Creative Houses' model as first-quarter bookings miss expectations
July 22 (Reuters) - France's lead videogame maker Ubisoft ( opens new tab announced on Tuesday a sweeping reorganisation of its internal structure, shifting to autonomous "Creative Houses" tailored to specific gaming genres, as it reported first-quarter net bookings that fell short of expectations. The company said in a call that the leadership of each Creative House would be selected based on specific gaming genres, and could include those from creative or technical backgrounds, as part of the new approach. "These units will reflect our diverse types of gaming experiences and will allow for enhanced quality, focus, autonomy and accountability," CEO and co-founder Yves Guillemot said in a statement. The first such unit, jointly owned with China's Tencent ( opens new tab, will manage flagship franchises including Assassin's Creed, Far Cry, and Rainbow Six. Co-CEOs Christophe Derennes and Charlie Guillemot will lead brand development across multiple platforms. Ubisoft plans to roll out the full organisational changes by the end of the year. The company reported first-quarter net bookings of 281.6 million euros ($305.7 million), missing its target of around 310 million euros and marking a 2.9% decline from the same period of last year. It attributed the shortfall to a weaker-than-expected performance from the Rainbow Six Siege game and the delay of a partnership now expected in the second quarter. Despite the miss, Ubisoft reiterated its full-year guidance and forecast second-quarter net bookings of approximately 450 million euros. Upcoming releases include Anno 117: Pax Romana, a Prince of Persia remake, and mobile titles Rainbow Six Mobile and The Division Resurgence.
