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Asia: Markets rise as strong US tech earnings offset poor data

Asia: Markets rise as strong US tech earnings offset poor data
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Asian Markets Mixed As Strong US Tech Earnings Offset Poor Data

Asian Markets Mixed As Strong US Tech Earnings Offset Poor Data
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Asian markets mixed as strong US tech earnings offset poor data

Markets were mixed on Friday after forecast-topping earnings from Microsoft and Alphabet helped soothe worries that a tech-fuelled rally may have been overdone, while the yen hit a fresh 34-year low after the Bank of Japan stood pat on interest rates.The rally has been helped by blockbuster reports from heavyweights Microsoft and Alphabet, which topped estimates, while the latter also announced its first dividend. ....

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Chinese Food-Delivery Billionaire Wang Xing Suffers $6.6 Billion Wealth Plunge As Growth Wanes

The 44-year-old mogul still has a sizeable net worth of $9.3 billion, but he is having trouble convincing investors skeptical of the firm’s future outlook. ....

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Alibaba Group: How Alibaba's six main new business units stack up

Alibaba Group Holding s former CEO, Daniel Zhang, has unexpectedly left the company s cloud computing unit, raising concerns about its spinoff plans. Alibaba announced in March that it would split into six main business units, each with its own CEO and board of directors. The Cloud Intelligence Group, which includes Alibaba s cloud computing unit, is the company s dominant player in China s domestic cloud computing sector. ....

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