ALIBABA EXPECTS NO MATERIAL IMPACT AFTER BEING FINED $2.75 BILLION

Highlights –

• Alibaba expects no material impact after being fined $2.75 billion.
• Alibaba was fined by China’s antitrust regulator for abusing market dominance.
• Alibaba Group Holdings Ltd shares rose as much as 9% in Hong Kong tr...

11 CHINESE TECHNOLOGY COMPANIES SUMMONED ON USE OF ‘DEEPFAKE’ TECHNOLOGIES

Highlights –

• 11 Chinese technology companies summoned on use of ‘deepfake’ technologies.
• Alibaba Group, Tencent and ByteDance are among the companies summoned by Chinese regulators.
• Deepfakes are said to use artificial int...

CHINA’S PINDUODUO E-COMMERCE FIRM REPORTS A 146% SURGE IN QUARTERLY REVENUE

Highlights –

• China’s Pinduoduo e-commerce firm reports a 146% surge in quarterly revenue.
• The company reported 788.4 million annual active buyers until the end of 2020.
• The company’s shares fell by 9% in pretrade activity ...

GLOBAL INVESTORS VALUE ANT GROUP AT OVER $200 BILLION AFTER HALTING IPO

Highlights –

• Global investors value Ant Group at over $200 billion after halting IPO.
• The amount is said to be third above Ant’s valuation after its fundraising in 2018.
• Ant’s business was affected a little by regulatory s...

CHINESE ANTITRUST REGULATORS LIKELY TO LEVY ALIBABA GROUP’S ON RECORD FINE

Highlights –

• Chinese antitrust regulator's likely to levy Alibaba Group’s on record fine.
• The fine is likely to surpass $975 million, an amount paid by Qualcomm in 2015.
• Chinese regulators have been stinging criticism on Jac...

ARE CHINA’S TYCOONS OUT OF LEAGUE WITH THE REST?

• One day you are right on top of the world, next day you are down in the dumps!  China’s billionaire rankings are as finicky as ever. In 2017,
• Hui Ka Yan, founder of real estate developer China Evergrande Group, was the nation’s most opulent man.

TOKYO STOCKS END FLAT ON FRIDAY WITH INVESTORS AWAY FOR CHRISTMAS HOLIDAYS

Highlights –

• Tokyo stocks end flat on Friday with investors away for Christmas holidays.
• The 225-issue Nikkei Stock Average ended down at 11.74 points.
• The Topix index of all First Section issues on the TSE ended at 4.14 points.
...

SEVERAL PREFECTURAL POLICE ARREST 8 MEN FOR SELLING COUNTERFEIT ‘DEMON SLAYER’ FIGURINES

Highlights –

• Several prefectural police arrest 8 men for selling counterfeit ‘Demon Slayer’ figurines.
• Kyoto, Hyogo, and Akita prefecture police arrested the 8 men.
• The suspects are said to have infringed the country&rsquo...

JACK MA RESIGNS FROM SOFTBANK BOARD

Highlights

• Jack Ma served on the board of SoftBank for over a decade

• SoftBank Group announced operating losses worth $12.7 billion for the fiscal year ended on March 31

Hours after SoftBank announced the largest loss in its history, which is also one of...