Asian equities traded mostly higher on Wednesday, following a Wall Street bullish queue. Most Asian indices have already closed on a bullish note with Japan’s Nikkei finishing the day 1.1 percent higher, India’s Nifty adding 0.6 percent to last trade at 8155.65 and Hong Kong’s Hang Seng climbing 0.3 percent at 22380.00 as of 7:35 GMT. European Markets are in for a wobbly start however, amid concerns that Eurozone’s largest economy, Germany, is growing at a sluggish rate!
In today’s pre-European indices trading, Germany’s DAX is expected to open flat, France’s CAC 40 is seen opening 0.1 percent lower, U.K.’s FTSE 100 is seen starting the day 0.3 percent lower while the EuroStoxx 50 is expected to open 0.2 percent higher.
Amazon has filed lawsuits against counterfeit sellers, for the first time today, after a number of businesses voiced concerns that knockoffs were harming their sales and taking advantage of consumers. The online retail giant has increasingly relied on third-party sellers to fuel its growth, but increased its chances of hosting fake goods in its warehouses. The company is not one to compromise quality though, so Amazon is now taking legal action against sellers who offer counterfeit goods!
Snap Inc. has reportedly confidentially filed paperwork for an initial public offering (IPO) which is likely to value the company at $20-$25 billion. Reports have also suggested that the IPO is expected to commence as early as March. The sellout move should place the social network after Alibaba and Facebook as the third-most-valuable technology company at the time of its market debut. The four-year-old company has confidentially made the filing with the Securities and Exchange Commission.