BYD and Geely Auto, vying to be China’s biggest carmaker, both rose in Hong Kong stock trading as higher exports offset concerns about domestic price competition.
Electric-vehicle giant BYD climbed 4.4 per cent on Wednesday even after reporting a 55 per cent drop in first-quarter net income to 4.09 billion yuan (US$590 billion), the lowest quarterly profit in three years. Geely gained 2.6 per cent, overcoming a 27 per cent decline in earnings to 4.2 billion yuan.
BYD sold 46 per cent of its…
Yen sinks to weakest level since 1986 as oil, US yields lift dollar; Japan intervention fears grow – Firstpost
The Japanese yen hovered near its weakest level in almost four decades on Wednesday as rising oil prices and higher US Treasury yields strengthened the dollar, leaving currency traders increasingly…