The Chinese e-commerce giant Alibaba has raised about $11 billion in a share offering in Hong Kong, the city's biggest offering since 2010.
Alibaba said Wednesday that it has set the price for the offering at 176 Hong Kong dollars ($22.50) per share. The price is a 2.9% discount for the closing price for its shares traded in New York.
The company's shares are due to begin trading on Nov. 26.
The secondary listing in Hong Kong is a rare boost for Hong Kong at a time when the former British colony is embroiled in political unrest.
The company's share code, 9988, is a homonym in Chinese for "eternal prosperity."
Alibaba earlier reported it logged $38.4 billion in "Singles Day" sales on Nov. 11, up 26% from a year earlier.
Japan's exports fell 9.2% in October from the year before, the biggest drop in three years as the U.S.-China trade war and tensions with South Korea bit into demand.
The tariff war between the U.S. and China has taken a toll across Asia, hurting manufacturers and supply chains.
Imports slumped nearly 15%, resulting in the country's first surplus in four months, according to customs data released Wednesday.
The weaker trade data reflect lower oil prices but also mounting pressure on the economy from a mainstay of growth at a time when consumers are adjusting to an Oct. 1 sales tax hike.
Exports to the U.S. dipped 11% from a year earlier in the third straight month of declines, with weaker shipments of cars, auto parts and machinery. Imports from the U.S. fell 17% year-on-year, the Finance Ministry said Wednesday.
Shipments to China, Japan's biggest export market, dropped 10%.
Two-way trade with South Korea in October sank 41%, with both exports and imports falling as relations between the neighbors and U.S. allies languish at their worst level in decades amid antagonisms over longstanding historical issues and disputes over high-tech exports.
Overall, imports totaled 6.56 trillion yen ($60.5 billion) while exports were 6.58 trillion yen ($60.6 billion), leaving a trade surplus of 17.3 billion yen ($159 million).
Analysts said lower export prices exaggerated the decline, but they forecast still weaker demand in coming months.
Adjusted for price changes, imports fell only 2.3% in October from the same month a year earlier, Tom Learmouth of Capital Economics said in a commentary.
That "supports our view that domestic demand was relatively resilient following the sales tax hike in October," he said.
But relatively weak global demand suggest that export volumes will fall further in 2020. Learmouth forecast a 2.7% decline in exports in the coming year after a 2% drop this year.
On the domestic front, the increase in the sales tax to 10% from 8% appears to have had less impact than earlier hikes, economists say.
A downturn in the high-tech industry, especially for computer chip makers, also is thought to have bottomed out, raising hopes for a recovery in that sector.
Global shares rose Tuesday as investors appeared hopeful for positive news from the trade talks between the United States and China.
Strong economic data and better-than-expected corporate earnings have buoyed U.S. shares since early October, while "markets remain convinced that we will see the phase-one trade deal finalized before the next major tariff increase deadline of December 15th," analyst Edward Moya of Oanda said in a report.
Britain's FTSE 100 gained 1.1% to 7,390, while Germany's DAX rose 1% to 13,333. France's CAC 40 added 0.3% to 5,947.
U.S. shares were tracking higher with Dow futures up 0.2% at 28,050. S&P 500 futures were also up 0.2% at 3,129.
Chinese indexes rose as political protests in Hong Kong quieted somewhat, with police tightening a blockade at Hong Kong Polytechnic University. Hundreds of demonstrators who left the campus after a violent weekend were arrested.
Hong Kong's Hang Seng gained 1.6% to 27,093.80, while the Shanghai Composite index rose nearly 0.9% to 2,933.99.
Japan's benchmark Nikkei 225 shed 0.5% to finish at 23,292.65. Australia's S&P/ASX 200 added 0.7% to 6,814.20. South Korea's Kospi slipped 0.3% to 2,153.24.
Markets seemed to react with calm to news that Trump summoned Federal Reserve Chairman Jerome Powell to the White House on Monday to discuss the economy and interest rates — issues where the president has repeatedly attacked the Fed, which is meant to be independent of politics.
Trump tweeted Monday that his meeting with Powell was "very good and cordial." He added that they discussed "interest rates, negative interest, low inflation, easing, Dollar strength and its effect on manufacturing, trade with China, E.U. and others, etc."
The Fed said in a statement that Powell's message to Trump during their meeting was similar to the one he expressed in congressional testimony last week, when he said that the economy is in good shape and that the Fed would likely suspend its rate cuts for now. The central bank has cut its benchmark short-term rate three times this year to try to support the economy.
ENERGY: Benchmark oil fell 60 cents to $56.45 a barrel in electronic trading on the New York Mercantile Exchange. It fell 67 cents to $57.05 a barrel Monday. Brent crude, the international standard, lost 61 cents to $61.83 a barrel.
CURRENCIES: The dollar rose to 108.72 Japanese yen from 108.68 yen on Monday. The euro ticked up to $1.1079 from $1.1072.
A meeting of the board of directors of Islami Bank Capital Management Limited (IBCML) was held recently at Dilkusha area of Motijheel.
The meeting was presided over by Professor Md Kamal Uddin, PhD, Director of IBBL and Chairman of IBCML, said a press release.
Md Joynal Abedin and Md Mosaddek ul Alam, Directors of the Bank and IBCML, Muhammad Qaisar Ali, Additional Managing Director of IBBL and Director of IBCML, Md Omar Faruk Khan, Deputy Managing Director of IBBL and Director of IBCML, Md Ashraful Haque, FCA, CFO of IBBL and Director of IBCML and Mohammad Abdur Rahim, FCA, Managing Director and CEO of IBCML were also present there among others.
The meeting took several important business decisions.
Islami Bank Bangladesh Limited organized a workshop on “Green Finance and Environmental & Social Risk Management” at Islami Bank Tower on Monday. Md. Mahbubul Alam, Managing Director and CEO of the Bank, addressed the program as chief guest.
Mohammed Monirul Moula, Additional Managing Director, presided over the program. Muhammad Qaisar Ali, Additional Managing Director, Mohammad Ali, Taher Ahmed Chowdhury and Hasne Alam Deputy Managing Directors of the Bank addressed the program as special guests.
Abu Reza Md. Yeahia, Md. Abdul Jabbar, Md. Saleh Iqbal and Md. Omar Faruk Khan Deputy Managing Directors of the Bank were present on the occasion. Mohammed Shabbir, Executive Vice President gave the welcome speech, said a press release.
Divisional Heads, Zonal Heads and other executives of the Bank attended the workshop.