This Week in Asia #3: Davos Blues

This Week in Asia #3: Davos Blues
Here are the key stories in week 3 of 2024 for Asia with the World Economic Forum leading the spotlight in Davos.

For week 3, the movers and shakers aggregate in the World Economic Forum at Davos, Switzerland. Of course, China remains the key headline from Davos with a surprising GDP growth and we share the key stories that we are reading that dominate the headlines of Asia from lithium discovery in Thailand to a Japanese football star with an angel track record raising a record $100m fund to invest into the Japanese startup ecosystem.

What we are reading this week:


  • China confirms GDP rose 5.2% in 2023 on higher government spending by CK Tan from Nikkei Asia Review. Premier Li Qiang shared the data at the World Economic Forum's Davos Conference. Our Take: The Chinese government is trying to assure foreign investors that the economy is growing despite the instability of the real estate sector marked by Evergrande and Country Garden.
  • Meituan Dips Below 2018 IPO Price as Selloff Reaches Extremes by Charlotte Yang from Bloomberg. Meituan's stock dips below its 2018 IPO price, closing 85% down from an all-time high; Alibaba and Tencent stock prices are down 78% and 60%+ respectively from their peaks. Our take: The Chinese tech giants are taking a beating from the stock market due to the current tensions and economic slowdown in China, but very few people pay attention to their fundamentals.

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