Latest Shanghai News

26 million tons of clothing end up in China's landfills each year, propelled by fast fashion

Jul. 10, 2024 16:55 PM EDT

WENZHOU, China (AP) — At a factory in Zhejiang province on China’s eastern coast, two mounds of discarded cotton clothing and bed linens, loosely separated into dark and light colors, pile up on a workroom floor. Jacket sleeves, collars and brand labels protrude from the stacks as workers...

Stock market today: Japan's Nikkei 225 hits new record close, as other world markets advance

Jul. 04, 2024 06:28 AM EDT

BANGKOK (AP) — Japan’s benchmark Nikkei 225 surged Thursday to a record close of 40,913.65, while most other major world markets also advanced. Investors worldwide are keen to see the Federal Reserve cut rates that it has been keeping at two-decade highs to slow growth and tame...

Stock market today: Asian shares mostly rise, boosted by Wall Street records as Tesla zooms

Jul. 02, 2024 23:45 PM EDT

TOKYO (AP) — Asian shares were mostly higher on Wednesday after Tesla shares zoomed up more than 10%, helping to drive U.S. benchmarks to new records. Japan's benchmark Nikkei 225 rose 0.9% in morning trading to 40,425.27. Australia's S&P/ASX 200 gained nearly 0.3% to...

Stock market today: Asian stocks are mixed after Wall Street edges to more records

Jun. 19, 2024 00:41 AM EDT

HONG KONG (AP) — Asian stocks were mixed on Wednesday after U.S. benchmarks ticked to more records following the latest signs that the U.S. economy may be slowing without falling into recession. U.S. futures were mixed and oil prices were little changed. Tokyo’s...

Stock market today: Asian shares shrug off latest Wall St rout as Chinese factory activity weakens.

May. 31, 2024 00:16 AM EDT

Asian shares were higher on Friday as investors shrugged off yet another decline on Wall Street, while an official survey showed a weakening in Chinese factory activity. Tokyo's Nikkei 225 added 0.2% to 38,119.96 and the Kospi in Seoul gained 0.4% to 2,646.44. Chinese...

Noah: Q1 Earnings Snapshot

May. 29, 2024 17:09 PM EDT

SHANGHAI (AP) — SHANGHAI (AP) — Noah Holdings Ltd. (NOAH) on Wednesday reported net income of $18.2 million in its first quarter. The Shanghai-based company said it had net income of 26 cents per share. Earnings, adjusted for non-recurring costs, were 32 cents per share. ...

EV maker Tesla breaks ground on Megapack energy storage battery factory in Shanghai

May. 23, 2024 06:30 AM EDT

BEIJING (AP) — Electric vehicle maker Tesla has begun construction of a factory in Shanghai to make its Megapack energy storage batteries, Chinese state media reported Thursday. The $200 million plant in Shanghai’s Lingang pilot free trade zone will be the first Tesla battery...

Bilibili: Q1 Earnings Snapshot

May. 23, 2024 06:14 AM EDT

SHANGHAI (AP) — SHANGHAI (AP) — Bilibili Inc. (BILI) on Thursday reported a loss of $104.5 million in its first quarter. The Shanghai-based company said it had a loss of 25 cents per share. Losses, adjusted for stock option expense and amortization costs, came to 15 cents per...

111: Q1 Earnings Snapshot

May. 23, 2024 05:22 AM EDT

SHANGHAI (AP) — SHANGHAI (AP) — 111 Inc. (YI) on Thursday reported a loss of $1.9 million in its first quarter. The Shanghai-based company said it had a loss of 2 cents per share. The Operator of a digital and mobile healthcare platform in China posted revenue of...

GDS Holdings: Q1 Earnings Snapshot

May. 22, 2024 07:24 AM EDT

SHANGHAI (AP) — SHANGHAI (AP) — GDS Holdings Limited (GDS) on Wednesday reported a loss of $47.9 million in its first quarter. On a per-share basis, the Shanghai-based company said it had a loss of 27 cents. The results surpassed Wall Street expectations. The...