Walmart’s (WMT, quote) plans for global commerce took a big step forward today as the world’s largest retailer announced its purchase of a controlling stake in the Chinese e-commerce website Yihaodian. If the Chinese government approves the transaction, Walmart will gain significant footholds in both the Chinese market and e-commerce.
Analysis seem to be split on weather China’s economy is coming in for a hard landing or not, but colleagues who have been to China recently indicate see both less construction cranes and more consumption of non-necessity items such as smart phones, electronics, education and a higher standard of eating.
Chinese Web company NetEase (NTES, quote) has partnered with Ping An Insurance (PNGAY, quote), China Pacific Insurance and others to launch Baoxian, an auto insurance comparison platform. The new portal adds a potentially lucrative purchase path for consumers in the fast-growing Chinese insurance market.
Despite all the serious developments erupting in France and Italy, it turns out that Asian markets were more worried about the environment closer to home overnight. This is weighing on the markets today.
Traders around the world will likely spend this week glued to macro data and political news, but those willing to look at individual stocks can still find plenty to occupy their attention.