Latest Shanghai News

In this Friday, Oct. 23, 2020, photo, the figure of the Ant Group's mascot is displayed at the office in Hong Kong. The world's largest fintech company, China's Ant Group, will try to raise nearly $35 billion in a massive public offering of stock that would shatter records. (AP Photo/Kin Cheung)

Here's why Ant Group is about to shatter IPO records

Oct. 27, 2020 6:35 AM EDT

HONG KONG (AP) — Stella Su, who lives and works in Shanghai, has used an ATM only once in the past year. Instead of cash, in recent years she has done almost all her business using the digital wallet Alipay –- shopping in a mall, buying stuff online or transferring money to friends. “Now when...

A woman walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Tuesday, Oct. 27, 2020. Shares skidded in Asia on Tuesday after surging coronavirus cases and waning hopes for U.S. economic stimulus gave Wall Street its worst day in a month. (AP Photo/Vincent Yu)

World shares slip after Wall St's worst day in a month

Oct. 27, 2020 4:47 AM EDT

Shares skidded in Europe and Asia on Tuesday after surging coronavirus cases and waning hopes for U.S. economic stimulus gave Wall Street its worst day in a month. Stock benchmarks fell in Paris, London, Hong Kong, Sydney and Seoul. Tokyo was flat. Shanghai recovered from early losses to edge higher. Overnight,...

A woman walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Tuesday, Oct. 27, 2020. Shares skidded in Asia on Tuesday after surging coronavirus cases and waning hopes for U.S. economic stimulus gave Wall Street its worst day in a month. (AP Photo/Vincent Yu)

Asian shares slip after Wall St's worst day in a month

Oct. 27, 2020 12:10 AM EDT

Shares skidded in Asia on Tuesday after surging coronavirus cases and waning hopes for U.S. economic stimulus gave Wall Street its worst day in a month. Stock benchmarks fell in Tokyo, Shanghai, Hong Kong and Sydney. Shares were flat in South Korea, where economic growth data were slightly better than expected. ...

FILE - This July 20, 2020, file photo, shows, the app for Alipay, the mobile payments service operated by Ant Group, on a smartphone in Beijing. China’s Ant Group will try to raise nearly $35 billion in its initial public offering in Shanghai and Hong Kong, which would make it the largest share offering in history. Alibaba-affiliated Ant Group, which operates a suite of financial products including the widely-used Alipay digital wallet in China and one of the world’s largest money market funds, will hold dual listings in Shanghai and Hong Kong.  (AP Photo/Ng Han Guan, File)

Chinese fintech could shatter records with $35B share offer

Oct. 26, 2020 10:26 AM EDT

HONG KONG (AP) — The world’s largest fintech company, China's Ant Group, will try to raise nearly $35 billion in a massive public offering of stock that would shatter records. Alibaba-affiliated Ant Group, which operates a suite of financial products including the widely-used Alipay digital wallet...

Pedestrian stand near an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Monday, Oct. 26, 2020. Asian shares were little changed in muted trading Monday amid widespread uncertainty over what the U.S. presidential election will portend for markets and economic policy.(AP Photo/Eugene Hoshiko)

Asian shares little changed on uncertainty over US election

Oct. 25, 2020 11:47 PM EDT

TOKYO (AP) — Asian shares were little changed in muted trading Monday amid widespread uncertainty over what the U.S. presidential election will portend for markets and economic policy. Investors remain worried over surging cases and deaths related to COVID-19, especially in parts of the U.S. and Europe,...

FILE - In this Oct. 14, 2020 file photo, pedestrians pass the New York Stock Exchange.  Stocks are mixed on Wall Street, following gains in European markets, as more U.S. companies report encouraging results for the summer earnings period. (AP Photo/Frank Franklin II)

US stocks shake off a wobbly start and end mostly higher

Oct. 23, 2020 4:59 PM EDT

U.S. stock indexes closed mostly higher Friday, though the S&P 500 posted its first weekly loss in four weeks. The benchmark index eked out a 0.3% gain after another day of wobbly trading. The Dow Jones Industrial Average finished with a small loss. Gains in communication services, health care and other...

A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, Oct. 23, 2020. Shares were mostly higher in Asia on Friday after President Donald Trump and his challenger former Vice President Joe Biden faced off in their second and final debate before the Nov. 3 election. (AP Photo/Ahn Young-joon)

Asian shares, US futures gain after last Trump-Biden debate

Oct. 23, 2020 1:50 AM EDT

Shares were mostly higher in Asia on Friday after President Donald Trump and his challenger former Vice President Joe Biden faced off in their second and final debate before the Nov. 3 election. Stocks rose in Tokyo, Hong Kong and Seoul but fell in Shanghai. Sydney's benchmark ended flat. In their debate late...

Pedestrians pass the New York Stock Exchange Wednesday, Oct. 14, 2020, in New York. Stocks are mostly lower in Asia after pandemic concerns snapped a four-day winning streak on Wall Street.  US stocks are drifting higher Wednesday, Oct. 21,  as negotiations continue in Washington on more aid for the economy, though prospects remain cloudy that anything can happen soon.(AP Photo/Frank Franklin II)

Asian stocks follow Wall Street lower on lack of US aid plan

Oct. 21, 2020 11:46 PM EDT

BEIJING (AP) — Asian stocks followed Wall Street lower on Thursday as investors watched Washington for signs of whether political leaders can agree on an economic aid plan in the two weeks before the Nov. 3 presidential election. Market benchmarks in Shanghai, Tokyo, Hong Kong and Seoul retreated. On Wall...

A man looks at an electronic stock board of a securities firm in Tokyo, Wednesday, Oct. 21, 2020. Asian shares mostly rose Wednesday, cheered by the gains on Wall Street as investors welcomed a batch of solid earnings reports from U.S. companies.(AP Photo/Koji Sasahara)

Asian shares rise after Wall Street gains on solid earnings

Oct. 20, 2020 11:19 PM EDT

TOKYO (AP) — Asian shares mostly rose Wednesday, cheered by the gains on Wall Street as investors welcomed a batch of solid earnings reports from U.S. companies. Japan's benchmark Nikkei 225 gained 0.5% in morning trading to 23,676.90. South Korea's Kospi added 0.4% to 2,366.40, while Australia's...

A public health worker helps Chinese tourists from Shanghai, who arrived at Suvarnabhumi airport on special tourist visas, in Bangkok, Thailand, Tuesday, Oct. 20, 2020. Thailand on Tuesday took a modest step toward reviving its coronavirus-battered tourist industry by welcoming 39 visitors who flew in from Shanghai, the first such arrival since normal traveler arrivals were banned almost seven months ago. (AP Photo/Wason Wanichakorn)

39 Chinese are Thailand's 1st foreign tourists in 7 months

Oct. 20, 2020 9:03 PM EDT

BANGKOK (AP) — Thailand’s tourist industry took a modest step toward reviving its coronavirus-battered fortunes Tuesday by welcoming 39 visitors who flew in from Shanghai, the first such arrivals since regular travelers were banned almost seven months ago. The visitors who arrived at...