China Financial News

Two former top editors of Hong Kong’s defunct online media Stand News will learn their sentences Thursday after a landmark sedition verdict

With core inflation touching an all-time low, which is an indication of excess capacity in the economy, it makes a strong case for rate cuts by the Reserve Bank of India, says Jahangir Aziz, Head Emerging Market Economics at JP Morgan in an interview with The Economic Times. He also talks about how debt flows from the index inclusion could help in easing the balance of payments along with softer bond yields. Even as geopolitics is crucial, it is the outcomes of the US elections which will have a bigger influence on the markets. Below are edited excerpts from the conversation: What is your assessment of the 50 bps rate cut by the Fed last week and its impact on the Indian market ? We had expected 50 basis points of rate cut after the July non-farm payroll came in.

dollar hit a 14-month low against the euro on Wednesday as traders bet that the Federal Reserve will make another large rate cut at its November meeting on weakening labor optimism, while the yuan eased on growing doubts about the impact of a new round of Chinese stimulus. The greenback tumbled on Tuesday after data showed that U.S. consumer confidence dropped by the most in three years in September amid mounting fears over the labor market.

Australian Treasurer Jim Chalmers will become the first government minister from Australia in that key economic role to visit China in seven years

Sensex and Nifty closed at fresh record highs on Wednesday, driven by gains in banking and energy stocks. The 30-share BSE Sensex rose 256 points, or 0.30%, to settle at 85,169, while the broader NSE Nifty added 64 points, or 0.25%, to end at 26,004.

Subscribe to enjoy similar stories. Properties on the Peak, a rich neighbourhood in Hong Kong, are among the world’s most desirable. But nobody lives in Dragon Lodge, an Italianate mansion built in the 1920s.

defence production hit a record high of Rs 1.27 lakh crore in 2023-24, with the country exporting military hardware to over 90 nations, Defence Minister Rajnath Singh announced on Wednesday. The milestone aligns with the 10th anniversary of the 'Make in India' programme under the NDA government. Started under Prime Minister Narendra Modi, this initiative aimed to achieve self-reliance across various sectors, including defence. Singh noted, «Ten years since then, many reforms have been made in every sector including the defence sector. India is rising on the defence industrial landscape of the world.» In recent years, several measures were taken to promote domestic defence manufacturing, focusing on enhancing military preparedness, particularly along the China border. Defence exports surpassed Rs 21,000 crore for the first time in 2023-24. The ministry targets increasing this to Rs 50,000 crore within five years.

Shares in Asia pushed higher on Wednesday, again led by gains in China, after U.S. stocks climbed to more records in a quiet day of trading

Subscribe to enjoy similar stories. The war in West Asia has intensified. With its Gaza operations against Hamas not yet over, Israel has aimed its firepower at Hezbollah, an Iran-backed militia based in Lebanon to its north.

BEIJING — China's slowing economy needs more than interest rate cuts to boost growth, analysts said.

The Aussie peaked at $0.6907 in the early Asian session, its highest since February 2023, while the kiwi rose to a nine-month top of $0.6353, with both currencies extending their rallies from the previous session.

«It is important to preserve what we have made. Last two-three years the returns have been very-very good. So, maybe a little more prudent and balanced approach will ensure that we preserve these returns,» says Gurmeet Chadha, Complete Circle Consultants. Not pure play commodities, but commodity stocks definitely, and in particular metals after China talking about a slew of measures and a fair amount of rate cuts as well coming in in the remainder part of the year too, that sort of instilled a sentimental move on metals. But would you look at it from an investment point of view? Gurmeet Chadha: We got to be more tactical when it comes to metals and commodities. They have announced a host of measures which clearly tells you that now they have to resort to more stimulus to revive the economy. And also, traditionally, if you see a weak dollar in the rate cuts, I am not saying weak in like absolute sense, but a relatively weaker dollar is always positive for commodities.

Rajat Sharma, Founder & CEO, Sana Securities, says stick to largecaps, stick to stocks where you still see value, be prepared to take a 10-15% dip because even if it happens, it is going to bounce back really sharply. Further, Sharma says he likes FMCG stocks like ITC, Britannia, and Dabur where he sees a lot of value. Earlier, he used to find private banks really expensive. But right now, he thinks Axis Bank and HDFC Bank make a very compelling case to buy. What are you making of the market right now, given the global construct – not just the Fed rate cut, but the measures from China as well earlier this morning and now our stint with Peak 26,000 and then straight away an 80-point fall from there? Rajat Sharma: Compared to the way markets have gone up, 80-100 points move is just a blip. These days when I talk to clients and when I invest money, I tell them upfront that 10% to 15% correction from here should not bother you and if it does, then wait before you get into the markets because since April, the markets have run up quite aggressively. We were trading at a multiple of around 22 that time, now we are trading at a trailing multiple of 24 and this is after four years back, we changed how we calculate the price earnings from standalone to consolidated.

Oil prices steadied on Wednesday after rising in the previous session on fading excitement for the economic stimulus in China, the world's biggest crude importer, though an industry report showing falling U.S. crude and fuel inventories supported the market. Brent crude futures gained 3 cents at $75.20 a barrel by 0004 GMT. U.S. West Texas Intermediate crude lost 2 cents at $71.58 per barrel.

Jaishankar, said that when he said that 75 per cent of the border dispute between the two countries have been sorted, he is only talking about the 'disengagement' part, while adding that challenge persists in other aspects. While addressing the Asia Society at the Asia Society Policy Institute on Tuesday (local time), the Foreign Minister highlighted how China violated the previous agreements during Covid pandemic, by increasing the troop deployment at the border, eventually resulting in clashes resulting in casualties on both sides. This incident, according to Jaishankar, has overshadowed the bilateral relationship.

Asian shares gained for a fifth day as a rally sparked by support measures from Beijing continued, while US stocks set fresh highs, with investors preparing for further rate cuts. Equity benchmarks rose in South Korea and Australia, while those for Japan were mixed after the yen strengthened against the dollar in the prior two sessions. The Golden Dragon index of US-listed Chinese companies rallied 9.1% in New York trading on Tuesday. The moves follow the best day since 2020 for a gauge of mainland equities after China unveiled a sweeping stimulus package to support the economy and financial markets.

Subscribe to enjoy similar stories. Mumbai: China’s latest push to revive its struggling real estate sector could benefit Indian steelmakers but may still not be enough to resolve high steel imports from India’s neighbour, according to experts. “The stimulus should improve domestic steel demand in China, which would be positive for the global market," said Ranjan Dhar, director and vice-president, sales and marketing, ArcelorMittal Nippon Steel India (AM/NS).

Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology...

U.S. stocks edged further into record heights on Wall Street after shaking off a bumpy start to the day

Japan’s Foreign Minister Yoko Kamikawa has asked her Chinese counterpart to ensure the safety of Japanese citizens there after a 10-year-old schoolboy was fatally stabbed

U.S. stocks drifted to more records in a quiet day of trading