Citi Strategists Downgrade US Tech Stocks as Rally to Broaden
The US stock rally is set to broaden out beyond technology, according to Citigroup Inc. strategists whose outlook on the sector has turned more cautious.
The US stock rally is set to broaden out beyond technology, according to Citigroup Inc. strategists whose outlook on the sector has turned more cautious.
Huawei Technologies Co. sustained its run of strong quarterly profit growth, building on the resurgence of its consumer business against Apple Inc.’s iPhone and the rise of its cloud division against incumbent Alibaba Group Holding Ltd.
Shares in Asia rose following gains on Wall Street, with focus shifting to key US consumer price data due later Friday.
South Korean Prime Minister Han Duck-soo met leaders of five top general hospitals as the new head of a medical lobby group rejected dialogue with the government to end a doctors’ walkout that has strained the health care system.
The biggest chemicals producer in the United Arab Emirates is pursuing a target in the Asia-Pacific region, even as its biggest shareholder is working on a €30 billion ($32 billion) merger of the company with a unit of Austria’s OMV AG.
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