China Financial News

Shanghai Composite posting their biggest single-day losses since Oct. 9, dragged down by big tech firms' disappointing earnings and investors' fears over U.S. President-elect Donald Trump's future policies on China. The Shanghai Composite index closed 3.06% lower at 3,267.19.

India's electronic production has more than doubled in the last six years to $115 billion in 2024, led by growth in mobile manufacturing by global firms such as Apple and Samsung. It is now the world's fourth-largest smart phone supplier. But the sector faces criticism for its heavy reliance on imported components from countries such as China.

Subscribe to enjoy similar stories. Mumbai: Softening prices of active pharmaceutical ingredients (API) are likely to stabilise in the months ahead and bring relief to Indian manufacturers, but they will still have to improve their operational efficiency to compete against Chinese rivals, industry executives and analysts said. API prices have been falling for the past 12-15 months, driven mainly by sharp price cuts by Chinese companies, which is impacting the bottom line of Indian API companies.

Bitcoin prices have surged to their highest level since 26 August, propelled by an acceleration in the global central banks' easing cycle.

Mexico's president has acknowledged that Canada is concerned about reports of a Chinese company's auto plant in Mexico, but she says it does not exist

Rahul Singh, CIO, Tata Asset Management, says the market has shifted away from thematic sector-based movements to stock-specific movements now and he expects that even while the markets remain sideways, the nature of the market will be very different and it will be a very bottom-up stock selection rather than the sectoral swings we saw in the last 24 months. So Singh says we should expect a slightly narrower market focused more on valuation and more stock specific. Between November 2021 and March 2023, there were 17-18 months of a very similar phase and it can happen again. What is your view on the market? We know the reasons for the correction which are basically valuation and earnings and the FII outflows, but the question is has all of that been factored in by the market and from here on do we expect a recovery or do you expect this the sideways move to be the nature of the market for the next couple of months? Rahul Singh: The market would be watching the earnings.

Wall Street as investors shook off initial concerns over Nvidia Corp.’s revenue outlook. Bitcoin edged closer to $100,000 while the dollar gained. Shares in Australia and Japan advanced. An index of US-listed Chinese stocks fell 1% Thursday, running against the grain of trading in New York but partly reflecting selling in Hong Kong stocks in their most recent session.

Xiaomi reported a 30.5% increase in revenue compared to the previous year, driven by robust sales of both its smartphones and the SU7. As the world's third-largest smartphone manufacturer, Xiaomi introduced the SU7 earlier this year as part of its strategic shift towards electric vehicles. The SU7 is equipped with advanced features such as assisted driving software and remote voice control, which allows drivers to operate household appliances from their car. Priced at 215,900 yuan (approximately $30,000), the SU7 has quickly become a top seller in China, the largest market for electric vehicles globally. In October alone, Xiaomi delivered over 20,000 units of the SU7. The company has now set a new target of 130,000 deliveries for the year, having already surpassed its initial goal. The SU7 has also gained international attention, with Ford's CEO praising the vehicle as «fantastic» and expressing reluctance to part with it after driving one for six months.

Hinduja Group firm IIHL for acquisition of debt-ridden Reliance Capital Ltd (RCAP), sources said. DPIIT approval was required as some of the shareholders of IndusInd International Holdings Ltd (IIHL) are residents of Hong Kong, a special administrative region controlled by China. According to Press Note 3, if an entity from a nation sharing a land border with India (China, Bangladesh, Pakistan, Bhutan, Nepal, Myanmar, and Afghanistan), or if a citizen or permanent resident of any such country is the beneficial owner of an investment in India, they are required to pursue investment through the government approval route. According to sources, the green signal from the DPIIT will help take forward the resolution plan submitted by Mauritius-based IIHL, which emerged as the successful bidder by submitting Rs 9,861-crore bid for the debt-ridden financial firm.

Citadel CEO Ken Griffin issued a warning against the steep tariffs President-elect Donald Trump vowed to implement, saying crony capitalism could be a consequence.

Indian equities have entered correction territory on sustained selling by overseas investors and slowing earnings. Yet, valuations remain stretched relative to trends. External factors such as China's stimulus and US moderating rate cuts have been sold into.

The deadly collapse of a concrete roof at a rail station in Serbia has raised tensions across the Balkan county

The U.S. leads the world in developing artificial intelligence technology, surpassing China in research and other important measures of AI innovation, according to a newly released Stanford University index

A former top executive in Sam Bankman-Fried's fallen FTX cryptocurrency empire was sentenced to two years in prison on Tuesday for the part she played in a fraud that stole billions of US dollars from investors, lenders, and customers.

BEIJING — Chinese tech giant Baidu on Thursday posted a 3% annual drop in third-quarter revenue, nevertheless beating market expectations amid AI cloud growth.

Ridham Desai, Head of India Research and Chief India Equity Strategist,Morgan Stanley, says India is in a strong position and there's no need for concern. However, stricter policies could pose challenges in the latter half of next year. The recent growth slowdown was temporary, influenced by elections and heavy rains. By the end of September, the government's cash balance with the RBI was nearly Rs 3.6 trillion, indicating deferred spending, resulting in a fiscal deficit of 3.4%, well below the 4.9% target. The government's cash balance has now decreased to below Rs 60,000 crore, and since October 1, they have spent Rs 3 lakh crore in addition to tax revenues. Desai says India will be one of the rare exceptions which will stop borrowing to pay interest in about three years and will move to primary balance. When that happens, government debt to GDP will fall because nominal GDP in India is still 10-11%. It will create major space for the private sector to re-lever and a major lending boom in the private sector can be expected, accompanied by a big capex cycle.

Subscribe to enjoy similar stories. Each year China makes as much steel as the rest of the world combined. The vast scale of its output—around 1bn tonnes a year—is obscured by the fact that most of it stays in the country.

Also read: Google has kept a ‘lid’ on internal comms through concealment strategies amid antitrust fears, report saysThe company confirmed that the iQOO 13 will feature a Q10 LTPO AMOLED display with a 144Hz refresh rate and 2K resolution. The smartphone will come with a triple-camera setup consisting of a 50MP main camera with a Sony IMX 921 sensor, a 50MP Sony portrait sensor and a 50MP ultra-wide camera. On the front, it will feature a 32MP selfie camera.

Subscribe to enjoy similar stories. On his first day in office, leader Xi Jinping inherited an ambitious road map to build 10,000 miles of high-speed rail to link China’s biggest cities. He took those plans and supersized them.

Subscribe to enjoy similar stories. A Chinese ship that sailed over two severed data cables in the Baltic Sea around the time they were cut has been stopped by the Danish navy as part of an international investigation into what police say is a possible act of sabotage.

Subscribe to enjoy similar stories. Some countries have greeted Donald Trump’s election with despair. In India, the dominant feeling is hope.