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Alibaba to upgrade Hong Kong listing amid profit drop
Alibaba to upgrade Hong Kong listing amid profit drop
by  AFP

Chinese e-commerce giant Alibaba said Friday it would upgrade its Hong Kong-listed shares to primary status, opening it up to China's huge army of investors that could potentially rake in billions of dollars for the firm.

Asian stocks slip with Wall St ahead of Powell, yen rises
Asian stocks slip with Wall St ahead of Powell, yen rises
by  AFP

Asian investors jockeyed for position ahead of a much-anticipated speech by Federal Reserve boss Jerome Powell later Friday, as the dollar weakened amid speculation about how big an expected interest rate cut next month could be. Powell's speech comes after three Fed officials said they wanted to see more data before agreeing to a rate cut.

US Fed chair expected to signal support for rate cuts
US Fed chair expected to signal support for rate cuts
by  AFP

US Federal Reserve chair Jerome Powell is widely expected to use a keynote speech at a major central banking conference on Friday to signal support for cutting interest rates ahead of next month's rate decision. Powell is unlikely to come out strongly in favor of either move on Friday, said Luzzetti from Deutsche Bank.

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