Xiaomi’s Success Means More Trouble for Battered China EV Stocks

(Bloomberg) — Xiaomi Corp.’s roaring entry into the electric vehicle market is dimming the recovery outlook for China’s beaten down auto startups. Most Read from Bloomberg Hype around the launch and better-than-expected initial orders for the SU7 have helped a rally in Xiaomi shares gain momentum. Investors have meanwhile ramped up bets on further declines … Read more

Chinese city Zhengzhou tells state-owned company to buy second-hand homes to reduce new housing inventories

BEIJING (Reuters) – China’s central city of Zhengzhou has asked residents to sell their second-hand homes to a local state-owned company and buy new ones instead, in a bid to reduce new-home inventories and boost the local property sector. Local state state-owned company Zhengzhou Urban Development Group Co. will buy 500 second-hand homes from April … Read more

BlackRock’s President Sees Markets Primed for a Comeback

(Bloomberg) — BlackRock Inc.’s co-founder sees markets primed for a comeback. Most Read from Bloomberg There’s almost $9 trillion right now sitting in money market funds, and the same amount sitting in cash alternatives at banks, Robert Kapito, president of the world’s largest asset manager, said at the Asia Pacific Financial and Innovation Symposium in … Read more