In results released Thursday — Airbnb's first as a publicly traded entity — the company took a charge of $2.8 billion for stock compensation related to the IPO. A year earlier, Airbnb lost $352 million.
Musk drops to second on the Bloomberg Billionaires Index of the world’s 500 richest people with a net worth of $183.4 billion -- down from a peak of $210 billion in January. Amazon.com Inc. founder Jeff Bezos reclaimed the top spot even as his fortune fell by $3.7 billion to $186.3 billion Monday.
World market: With China and Hong Kong markets closed for the Lunar New Year holiday, Japan's Nikkei led the way, climbing 1.9% to reclaim the 30,000-point level for the first time in more than three decades.
Shares of Bumble Inc, the owner of the dating app where women make the first move, soared 67% in its trading debut to $72 at 1:03 pm in New York, valuing Chief Executive Officer Whitney Wolfe Herd’s stake at $1.5 billion.
Asian markets today: MSCI's broadest index of Asia-Pacific shares outside Japan added 0.1%, having already climbed for four sessions to be up over 10% so far this year. Japan's Nikkei was shut after ending at a 30-year peak on Wednesday, while Australia's main index held near an 11-month top.
The Shanghai Composite Index gained 0.7% to 3,558.63 and the Nikkei 225 in Tokyo rose 0.4% to 29,497.51. The Hang Seng in Hong Kong was off under 0.1% at 29,312.65. The Kospi in Seoul advanced 0.6% to 3,110.81 and Sydney's S&P-ASX 200 shed 0.5% to 6,846.00. New Zealand retreated while Singapore and Jakarta advanced.
Japan's Nikkei 225 surged 2.1% in morning trading to 29,378.18. Australia's S&P/ASX 200 rose 0.8% to 6,897.80. South Korea's Kospi shed nearly 0.4% to 3,109.14. Hong Kong's Hang Seng jumped nearly 1.0% to 29,575.61, while the Shanghai Composite picked up 0.8% to 3,525.58.
MSCI's ex-Japan Asian-Pacific index fell 0.2% while Japan's Nikkei lost 0.4%, both snapping a three-day winning streak.
The Shanghai Composite Index rose 0.5% to 3,523.71 while the Nikkei 225 in Tokyo added 1% to 28,376.20. The Hang Seng in Hong Kong advanced 1.9% to 29,453.37.
Asian markets today: MSCI's broadest index of Asia-Pacific shares outside Japan rose slightly to 721.96 and just a short distance away from last week's record high of 727.31.
Jack Ma’s fintech giant may be worth less than 700 billion yuan ($108 billion) under the draft proposals, which could reduce the value of Ant’s Alipay service by half, according to senior analyst Francis Chan.
MSCI's broadest gauge of Asia Pacific stocks outside of Japan was off 0.2% at 722.49 points, a whisker away from its all-time high of 727.31 touched on Thursday.
MSCI's broadest index of Asia-Pacific shares outside Japan touched record highs and was last up 0.85%, with markets across the region posting gains.
Biden, due to take over as the 46th President of the United States just after noon (1700 GMT) on Wednesday, will waste little time trying to turn the page on the Trump era, advisers said, signing a raft of 15 executive actions on issues ranging from the pandemic to the economy to climate change.
Asian markets today: Japan's benchmark Nikkei 225 lost early gains to slip 0.4% in morning trading to 28,515.21. Australia's S&P/ASX 200 added 0.6% to 6,783.20, while South Korea's Kospi edged up 0.5% to 3,109.21. Hong Kong's Hang Seng added 0.9% to 29,921.79, while the Shanghai Composite rose nearly 0.4% to 3,579.93.
Asian stock markets: MSCI's broadest index of Asia-Pacific shares outside Japan firmed 0.98%, to be a whisker from record highs. Japan's Nikkei bounced 1.5%, recovering all the losses suffered on Monday when caution had dominated markets.
Samsung Electronics plunged 3.4%, logging its sharpest fall in five months, leading losses, while other heavyweights such as LG Chem, Samsung BioLogics and Samsung SDI also slid 1.5%, 2% and 4.2%, respectively.
Asian share market today: The Hang Seng in Hong Kong gained 0.5% to 28,712.79 while the Shanghai Composite index climbed 0.7% to 3,591.33. But gloom prevailed in other major regional markets. Tokyo's Nikkei 225 dropped 1.1% to 28,211.78 and the Kospi in South Korea lost 0.7% to 3,034.13.
Lockdowns and travel restrictions are prompting housebound shoppers to snap up more phones, game consoles, smart TVs and laptops, which in turn has fueled demand for the chips used in those devices.
Economists expect China’s GDP will expand 8.2% this year, continuing to outpace global peers including the US.
Asian markets today: MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.1% around midday in Asia, just off a record high. Hong Kong's Hang Seng added 0.32%, while Australia's ASX 200 rose 0.17%.
Global market update: Japan's Nikkei rose 1.4% to its highest point since August 1990. It is up more than 8% in three weeks. MSCI's broadest index of Asia-Pacific shares outside Japan was steady and just a whisker short of Monday's all-time high.
Tokyo, Australia and South Korea advanced while Shanghai was off by 0.1%. Hong Kong swung between gains and losses. On Wall Street, the benchmark S&P 500 index gained less than 0.1%, recovering from the previous day's decline.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3% after touching an all-time high on Monday, led by a 1.6% drop in South Korea as investors took some profit from a soaring Kospi.
MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.2%, having surged 5% last week to record highs. Japan's Nikkei was on holiday after closing at a 30-year high on Friday.