China Construction Bank Corp., Bank of Communications Co. and China Merchants Bank Co. may face heavier provision burdens in the second half of 2023 and early 2024 after developer Country Garden Holdings Co. failed to pay dollar bonds on time. Global investors including BlackRock Inc. and Allianz SE have recent exposure to the bonds as well.
As China’s economic recovery loses steam, the People’s Bank of China unexpectedly lowered the rate on its one-year loans by 15 basis points to 2.5% earlier this week, the most since 2020. Shopping platform Meituan will report as China’s top leaders pledged to expand domestic consumption amid weak consumer sentiment.
Woodside Energy’s earnings probably fell in the first half as a global inventory buildup of liquefied natural gas came to an end, pressuring gas prices, BI said. Workers at Chevron and Woodside facilities in Australia voted to approve industrial action at the North West Shelf, Wheatstone and Gorgon operations, which may disrupt about 10% of global exports of the fuel. The firm earlier expected a $630 million expense related to its Pluto facility, denting first-half net income.
Gaming giant NetEase’s revenue may grow in the second quarter from a year earlier — though slow sequentially — with recovery seen in its online dictionaries and courses provider Youdao, estimates show. Strong early showings by the Justice and Racing Master games could put it on a solid footing for the rest of the year, BI said. With China’s consumer spending slowing and unemployment rising last month, overseas expansion is essential for long-term growth.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Fonte: BNNBloomberg - 🏆 83. / 50 Consulte Mais informação »