Bloomberg Business

Tencent’s $160 Billion Rally Faces Key Earnings Test

Tencent Holdings Ltd.’s successful foray into short videos and a softening regulatory backdrop have fueled a $160 billion rally since October, the next leg of which will hinge on a crucial earnings release this week.

Vanguard Said to Shutter Business in China, Exit Ant Venture

Vanguard Group Inc., the US asset management giant, has decided to shutter its remaining business in China after a retreat two years ago, according to people familiar with the matter, abandoning a 27 trillion yuan ($3.9 trillion) fund market that global competitors are embracing.