Sat, Jan 2, 2021 7:34 PM
China says it will take action against US delisting of its telecom firms
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Benchmarks in Hong Kong are having their best week in years. Foreign fund purchases of Chinese stocks through a trading link hit a record 22.4 billion yuan ($3 billion) on Friday. UBS Group AG has turned overweight, while others say there’s growing interest in one of last year’s worst-performers. Improvement in China’s economy and earnings growth are driving what some money managers are calling.
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Meta Platforms (NASDAQ: META) recently presented first-quarter results that exceeded expectations on the top and bottom lines. Instagram, WhatsApp, and Facebook outperformed expectations, but shares of their parent company still fell hard in after-hours trading.Meta stock was down about 15% when the market opened on Thursday, April 25.
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Shares of L&T Technology Services (LTTS) fell 9.5 percent on Friday (April 26) after the IT firm forecasted a 100 basis point decline in its FY25 EBIT (earnings before interest and taxes) margin in guidance. L&T Tech reported a modest 0.2 percent YoY increase in net profit, reaching ₹340 crore, due to slower revenue growth and a reduction in margins. Its revenue grew 5 percent YoY.
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