China Financial News

World shares are mixed after losses for big technology stocks pulled major indexes lower on Wall Street

India's global trade story has long been shaped by its relationships with two of its largest partners: the United States and China. While these relationships have grown significantly over the past decade, they show stark contrasts that often remain as lesser-known facts, at least like Crisil called it in an investr note. India’s trade with the U.S. and China reached $120 billion and $118 billion respectively in fiscal 2024, doubling over the last decade. However, the similarity ends here, Crisil said, as it notes hat India has a $35.3 billion trade surplus with the U.S., while it faces an $85.1 billion trade deficit with China.

Higher interest rates should help prevent NIM contraction, and higher inflation could drive credit growth by an additional 100-150 bps, says Santosh Pandey, President & Head at Nuvama Professional Clients Group. Banks are currently trading at reasonable valuations, Pandey said as he opines that higher interest rates could benefit banking stocks, assuming no major surprises in asset quality. Excerpts:

Pony AI rose about 15% in their market debut on Wednesday, giving the robotaxi company a valuation of $5.25 billion, in an indication of a positive investor approach to China-based firms. The company's depositary shares opened at $15 in their Nasdaq debut, compared with the IPO price of $13. The IPO comes after nearly two years of uncertainty following Didi Global's delisting amid regulatory backlash in China, with Beijing easing tensions by resolving a long-standing audit dispute with the US accounting watchdog in December 2022.

The difficulty of trying to crack $100,000 for the first time «could convince traders that the top is in, and profits should be locked in now,» wrote Noelle Acheson, author of the Crypto Is Macro Now newsletter. However, any such episode should be «fleeting,» she added.

General Zhang held a one-on-one meeting with Army Chief Gen Asim Munir on Wednesday, followed by delegation-level discussions. According to the statement, the engagements focused on «matters of mutual interest, regional security dynamics, measures for regional stability, and enhancing bilateral defence cooperation.»

South Korea’s central bank has lowered its key policy rate for the second straight month and says the country’s economy will grow at a slower pace than it initially anticipated

The Redmi Note 14 series is gearing up for its grand launch in India on December 9, with a strong emphasis on its 'Super Camera and Super AI' features. As the successor to the Redmi Note 13 series, this mid-range lineup has already debuted in China and is now preparing for its global release. The series is expected to offer three models: Redmi Note 14, Redmi Note 14 Pro, and Redmi Note 14 Pro Plus. The pricing of the Redmi Note 14 series has been a buzzworthy topic among tech enthusiasts. Tipster Abhishek Yadav has revealed variant-specific prices for all three models. Here's a closer look at the details.

Barron's market reporter Jacob Sonenshine discusses the impact President-elect Trump's tariffs could have on the U.S. economy on ‘Varney & Co.’

Donald Trump loved to use tariffs during his first presidency

Nitin Gadkari stated. The Indian automobile industry's market size is approximately Rs22 lakh crore. China leads with Rs47 lakh crore, followed by the US at Rs78 lakh crore. Speaking at the 'Times Green Drive Conclave and Awards 2024,' the minister highlighted India's potential and growth. India is currently the fastest-growing major economy in the world.

Arunachal Frontier Highway connecting 12 districts of the state along the Line of Actual Control (LAC) on the India-China international border, a top official said. The ambitious project to be built at an estimated cost of Rs 40,000 crore is seen as a move to counter China's aggression in Arunachal Pradesh, besides contributing to the socio-economic development of the border state. The highway is being constructed along the 'India-Tibet-China-Myanmar' border and the road project will be as close as 20 km from the LAC and international borders. It will start from Bomdila and pass through Nafra, Huri and Monigong towns, which are closer to the LAC or the McMahon Line, and conclude in Vijaynagar near the India-Myanmar border.

U.S. President-elect Donald Trump has threatened to sharply raise tariffs on all Chinese imports and close some loopholes Chinese exporters currently use to sell their products more cheaply in the U.S. If enacted, his plans would likely raise prices in...

Gaza, triggered by a Hamas attack on Israel in October last year, and later pulled in Hezbollah too. The ceasefire does not extend to Gaza, where Israel’s military continues to fight Hamas as there is no progress on the release of Israeli hostages held by Hamas. Yet, the ceasefire is a definite turning point in the conflict and raises hope for final resolution. The ceasefire comes as a good news for India not just because India has trade and business interests in the Middle East which will be harmed if a wider war breaks out, but also because a highly ambitious project, which was deferred due to the conflict, can be back on track. The most consequential announcement at last year's G20 Summit in Delhi was the commitment to build a rail-and-port network that will connect India to the Middle-East and the Middle-East to Europe and the US. It has been named the India-Middle East-Europe Economic Corridor (IMEEC). Though no leader from the participating countries mentioned China, it is an obvious alternative to China's Belt and Road Initiative (BRI) that aims to connect the whole world to China through shipping, rail and road networks.

Subscribe to enjoy similar stories. India-China trade data for 2023 reveals a widening discrepancy, with India's reported imports from China falling significantly short of China's export figures, raising concerns over potential anomalies such as under-invoicing, misclassification, and inconsistent reporting practices.

Subscribe to enjoy similar stories. When President-elect Donald Trump said he would nominate the hedge-fund manager Scott Bessent as his Treasury secretary Friday, much of Wall Street and corporate America breathed a sigh of relief. The choice of Bessent, who is hawkish on deficits, a defender of the dollar’s reserve status, and until recently circumspect about tariffs, suggested that Trump would put a priority on market-friendly measures to boost economic growth and hold down inflation and interest rates.

Volkswagen and SAIC Motor say they have agreed to extend their 40-year-old automaking joint venture in China until 2040

World shares are mixed with Chinese stocks leading gains after U.S. stocks rose to records despite President-elect Donald Trump’s latest talk about tariffs

While sales of electric vehicles surge in China, the spread of more environmentally friendly vehicles is stumbling in the United States and Europe as carmakers and governments struggle to meet years-old promises about affordability and charging stations

Turkey follows behind in second place. Mine production in 2023 stood at 36.5 tonnes, which is six times lower than the demand of 201.6 tonnes. Gold demand in Turkey has also been rising, going from 1.13 grams per person in 2021 to 1.43 grams in 2022 and 2.34 grams in 2023. Rounding out the top three is China. With a population of over 1.4 billion, the country has a yearly gold demand of 909.7 tonnes. Although the mine production figure is the highest seen in all 10 countries, it still falls short of the demand by two times.

Ven Ajahn Siripanyo, the only son of Malaysian billionaire Ananda Krishnan, renounced his claim to a $5 billion empire to embrace a monastic life. Ananda Krishnan, one of Malaysia’s wealthiest individuals, owns a business empire spanning telecom, satellites, oil, real estate, and media.