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Traders Seek Bargains in China Stocks That Dodged the Clampdown

(Bloomberg) — Investors are returning to Chinese stocks after Beijing’s regulatory crackdown triggered last month’s $1 trillion global selloff. But this time they’re placing bets very selectively, in sectors that have found favor with policy makers. The top two performers on the Hang Seng Index in the first three days of August are BYD Co. […]

Asian Stocks Set to Dip as Traders Mull Fed Views: Markets Wrap

(Bloomberg) — Asian stocks are set to slip early Thursday after U.S. stocks dipped amid mixed economic data and comments from a Federal Reserve official that the central bank is on course to taper stimulus support. Futures fell in Japan and Australia and were flat in Hong Kong. U.S. contracts fluctuated after the S&P 500 […]

Petrobras Earnings Jump on Oil Rally and Brazil’s Water Crisis

(Bloomberg) — Brazil’s state-controlled oil company saw its earnings surge in the second quarter, thanks to a rally in crude prices and a hydropower crunch in Brazil that boosted electricity demand. Since late last year, Petrobras has sold more fuel oil domestically and increased output at its own thermal power plants, part of a wider […]

Perfect Balance Sheets Harder to Find in Asia Than in the U.S.

(Bloomberg) — Asia investors following the global switch to quality stocks are not only suffering from striking underperformance but also a relative lack of candidates with the strongest balance sheets. Just two of the MSCI Asia Pacific Index’s 1,543 members have a perfect Piotroski F-Score — a financial-health assessment devised by an accounting professor to […]

China Clampdown Sparks a Pupil Exodus From Hong Kong Schools

(Bloomberg) — Disillusioned by China’s crackdown on dissent in Hong Kong, engineer Alan Chan emigrated to the U.K last month with his wife and 10-year-old son. Like many other parents, his decision to leave the former British colony was influenced by Beijing’s overhaul of the education system. “The political changes during the past two years […]

Lidar Maker Cepton in Merger Talks With Growth Capital SPAC

(Bloomberg) — Automotive technology company Cepton Technologies Inc. is in discussions to go public through a reverse merger with a blank-check company, according to people familiar with the matter. The San Jose, California-based startup is seeking to combine with Growth Capital Acquisition Corp. in a deal that is valued at about $1.5 billion including debt, […]

Shale Driller Callon Bulks Up in Permian with $788 Million Deal

(Bloomberg) — Callon Petroleum Co. agreed to acquire closely held Primexx Energy Partners Ltd. for about $788 million in cash and stock for one of its biggest deals ever as the explorer further bulks up in the most prolific U.S. shale patch. Callon, which acquired its Permian Basin rival Carrizo Oil & Gas Inc. for […]

U.S. Jet Fuel Demand Surges But Full Recovery Is Still Elusive

(Bloomberg) — Jet fuel demand is finally taking off as American travelers return to the skies, but concerns over the Delta variant of Covid-19 may further delay a full recovery. U.S. consumption of the fuel on a four-week average basis surged to 1.57 million barrels a day, the highest since the pandemic shut the economy […]

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