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On its first day of trading, Hong Kong-listed Tianxing Medical (01609.HK) opened at HK$288, a surge of over 192%, compared to its offering price of HK$98.5.On Tuesday, May 5, the Hang Seng Index opened down 150.13 points, or 0.58%, at 25,945.75; the Hang Seng Tech Index opened down 27.58 points, or 0.55%, at 4,949.12; the H-share Index opened down 38.04 points, or 0.43%, at 8,736.35; and the Red Chip Index opened down 8.68 points, or 0.2%, at 4,402.56.Hang Seng Index futures opened down 0.5% at 25,891 points, a discount of 197 points.May 5th - The China Federation of Logistics and Purchasing (CFLP) released the April China Bulk Commodity Price Index today (May 5th). The index showed that, influenced by improved supply and demand in some domestic industries and external factors, the index continued to rise in April, although the increase was narrower than the previous month, indicating that the bulk commodity market remained generally stable and continued its positive development trend. The April China Bulk Commodity Price Index was 132.1 points, up 1.7% month-on-month and 20.2% year-on-year. Among the 50 key bulk commodities monitored by the CFLP, 38 saw month-on-month price increases in April. Paraxylene, methanol, and polypropylene saw the largest increases, rising by 22.4%, 14.5%, and 11.8% respectively compared to the previous month.According to the Wall Street Journal, OpenAI CEO Sam Altman discussed spinning off the company’s robotics and consumer hardware division late last year.

As Vacation Demand Rises, Airbnb Is Bullish About Earnings

Aria Thomas

Feb 15, 2023 11:17

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Airbnb Inc on Tuesday anticipated current-quarter revenue above market expectations due to solid travel demand and said it will keep a tight control on expenses to safeguard profits, causing its shares to rise 10% in extended sessions.


The rental company intends to retain last year's margin of 35%, the best since it went public in 2020, despite worries of a recession that have prompted consumer spending concerns.


It was claimed that domestic and short-distance travel remained robust, increasing occupancy rates at major metropolitan sites, and that long-distance and cross-border travel improved during the quarter in question, aided by a stronger dollar and the reopening of borders.


This year, European tourists are planning their summer travels earlier than usual, according to Airbnb.


According to Refinitiv data, the business projected first-quarter sales between $1.75 billion and $1.82 billion, above analysts' average estimate of $1.69 billion.


In addition, it predicted that its average rental prices would decline slightly in the current quarter and continue under pressure through 2023, as tourists return to more affordable urban rentals.


The holiday quarter ending in December saw a 24% increase in revenue to $1.90 billion, which was lower than the previous two quarters but exceeded analysts' average expectation of $1.86 billion.


In the meanwhile, average daily rates decreased by 1% to $153 and bookings increased by 20% to $13.5 billion, falling short of the average analyst forecast of $1.69 billion.


According to Refinitiv statistics, Airbnb recorded a quarterly net profit of $319 million, or 48 cents per share, above projections of 25 cents per share.

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