Alibaba Group's Hong Kong shares made a solid debut on Tuesday, trading 6.9% higher than their issue price and at a small premium to pricing in New York after marking the world's largest stock sale this year.
Asian stocks rose on Tuesday, bolstered by Wall Street's record closing highs and signs of new momentum in Beijing's and Washington's efforts to end their long and acrimonious trade dispute.
Asian stocks rose on Tuesday as an apparent olive branch from Beijing in trade talks with Washington added to other recent signs of progress, fuelling a rally in Wall Street's main benchmarks to record highs.
Oil prices were steady on Tuesday, holding onto gains from the previous session, after positive comments from the United States and China kept alive hopes that the world's two largest economies are soon to agree an end their trade war.
Alibaba Group's Hong Kong shares were trading 7.7% higher at HK$189.50 in their debut, after marking the city's biggest share sale in nine years. Alibaba has raised at least $11.3 billion from the secondary listing and that amount could climb to as much as $12.9 billion if an over-allotment option is exercised. At Tuesday’s listing ceremony, CEO Daniel Zhang noted Alibaba's Hong Kong debut had been a long time coming.
Monetary policy is "well positioned" to support the strong labor market, which is just now starting to benefit workers on the margins, Federal Reserve Chair Jerome Powell said Monday.
U.S. insurer American International Group Inc said on Monday it would sell a major portion of its stake in reinsurer Fortitude Re to buyout fund Carlyle Group and Japanese insurer T&D Holdings for about $1.8 billion.
Hewlett Packard Enterprise Co missed Wall Street estimates for quarterly revenue on Monday, hit by lower demand for its servers and storage products, sending its shares down about 4% in trading after the bell.
A Delaware judge on Monday ordered broadcaster CBS Corp to turn over records regarding its plan to reunite with Viacom Inc to a shareholder who wants to investigate if the deal unfairly benefits Shari Redstone, who controls both companies.
Australia's Westpac Banking Corp said on Tuesday its CEO will step down and its chairman will bring forward his retirement as a money-laundering scandal rocks the country's second-largest retail bank.
The U.S. securities regulator on Monday proposed new regulations for the use of derivatives by investment funds to introduce some safeguards for more risky products and increase competition.
U.S. House of Representatives Speaker Nancy Pelosi said on Monday that a version of the U.S.-Mexico-Canada trade agreement that House Democrats could back was "within range" but that they needed to conduct a final review.
Texas' attorney general settled with T-Mobile Inc and Sprint Corp and will drop his opposition to the $26.5 billion merger, leaving just Democratic attorneys general fighting the proposed combination.
U.S. insurer American International Group Inc said on Monday it would sell a 76.6% stake in reinsurance company Fortitude Re to buyout fund Carlyle Group and Japan's T&D Holdings for about $1.8 billion.
Westpac Banking Corp said on Tuesday Chief Executive Brian Hartzer will step down and Chairman Lindsay Maxsted will bring forward his retirement, as the country's biggest money-laundering scandal rocks Australia's No.2 retail bank.