China Financial News

Asian stocks fell Monday after another rout hit Wall Street on Friday, as a highly anticipated update on the U.S. job market came in weak enough to add to worries about the economy

Wall Street's staunchest supporters, with hopes for a turnaround fading in the world's No. 2 economy. Over the past two weeks, long-standing China bulls UBS Global Wealth Management, Nomura Holdings Inc., and JPMorgan Chase & Co. have all downgraded the country's equities, citing concerns ranging from the property-led demand slump to piecemeal stimulus measures and geopolitical tensions ahead of the US elections.

stock market rally is wobbling as it confronts a horde of challenges to the momentum that's taken it from record high to record high. A rout early last month was a glimpse of how quickly things can turn bad, a sharp selloff driven by US recession fears that rocked investors used to going in only one direction. While the S&P 500 subsequently rebounded, crucially it didn't made back all the ground lost.

Asian stocks slipped on Monday after US jobs data added to concerns that the Federal Reserve may have waited too long to cut interest rates. Equities in Australia, Japan and South Korea racked up losses in early trading, while US futures were little changed. The dollar was steady against peers, with traders split on the size of the Fed’s easing next week. Iron ore fell below $90 a ton for the first time since late 2022.

iPhone 16 series will be available across the world within the first few days of the launch of sales, multiple people familiar with the matter told ET. Apple is scheduled to unveil the latest range on Monday and worldwide sales are likely to begin within 10-12 days. Foxconn has commenced production of the iPhone 16 series in India, to be exported and made available in multiple cities and countries, officials said.

It allowed unlicensed money transfers from around the world to reach gamblers.

Haryana Assembly polls, state AAP president Sushil Gupta confirmed that talks between the AAP and Congress were going on and the aim is to oust the BJP government. Sushil Gupta said, "Aam Aadmi Party is a disciplined party, being the state president of the party, I am making full preparations for 90 seats. Our workers are associated with the 'Parivar Jodo Abhiyan', Arvind Kejriwal's guarantee is going from village to village, our public meetings are going on… All the leaders are preparing to oust the BJP government with full readiness. It is true that talks of agreement (between AAP and Congress) are going on." He further said that leaders from BJP and other opposition parties are also in contact with him and AAP will try to accommodate them in this election.

Boeing’s first astronaut mission ended Friday night with an empty capsule landing and two test pilots still in space, left behind until next year because NASA judged their return too risky.

Apple will use organic light-emitting diode (OLED) displays for all iPhone models sold in 2025 and later, moving entirely away from liquid crystal displays (LCDs), Japan’s Nikkei newspaper reported, citing unnamed sources. Television and smartphone makers are adopting OLED displays over LCDs for the former’s ability to deliver more vivid colours and sharper contrast, ideal for high-definition videos. <div data-placement=«Mid Article Thumbnails» data-target_ty

Renewable Energy (MNRE) on Saturday notified draft norms for an approved list of models and manufacturers (ALMM) for solar cells, which is proposed to be effective from April 2026, similar to that for modules which has worked like a non-tariff barrier for domestic manufacturing. The list for solar modules comprises models and manufacturers that project developers can buy equipment from. With installed capacity of solar photovoltaic (PV) cells in the country expected to increase substantially in the next two years, the government proposes to issue solar PV cells under ALMM from April 2026, according to the draft.

At Oscar de la Renta, fashion shows are out and documentary films are in. After decades of runway shows in New York, the brand is trying something new. In August, the brand released a documentary, “A Sense of Beauty," following co-creative directors Laura Kim and Fernando Garcia as they complete their pre-fall 2024 collection.

External Affairs Minister S Jaishankar on Saturday highlighted India's readiness to collaborate with like-minded partners on focused agendas, citing the Quad as a prime example. Jaishankar made these remarks as he addressed the FPCI Global Town Hall 2024. Jaishankar also shared a post on X and wrote, «Addressing the @fpcindo Global Townhall 2024 session on 'Anticipating Greater Geopolitical Turbulence Ahead, and Finding Ways to Calm the Storm.'

Chief of Defence Staff General Anil Chauhan on Saturday held extensive talks with Maldives' Chief of Defence Force Major General Ibrahim Hilmy, focusing on a reset of military ties that came under severe strain after President Mohamed Muizzu assumed office in November last. The talks between the two top military officials came a day after India and the Maldives held the fifth round of defence dialogue which decided to expedite implementation of the ongoing defence projects. Officials said the talks were aimed at furthering the bilateral defence cooperation, especially on measures to strengthen regional security and enhance bilateral training opportunities. It is understood that cooperation in the maritime security domain dominated the discussions.

intelligence agencies said Saturday that Ukraine's surprise incursion into Russia is a significant achievement that could change the narrative of the grinding 2 1/2-year war. Richard Moore, the head of MI6, said Kyiv's surprise move in August to seize territory in Russia's Kursk region was «typically audacious and bold on the part of the Ukrainians, to try and change the game». He said the offensive had «brought the war home to ordinary Russians». Speaking alongside Moore at a rare public event in London, CIA Director William Burns said the offensive was a «significant achievement» that had exposed vulnerabilities in the Russian military. Burns also warned of the growing and «troubling» defence relationship between Russia, China, Iran and North Korea that he said threatens both Ukraine and Western allies in the Middle East. North Korea has sent ammunition and missiles to Russia to use against Ukraine, while Iran supplies Moscow with attack drones.

FPIs) invested a total of Rs 9,642 crores in equity through exchanges and an additional Rs 1,388 crores in the 'primary market and others' category in early September. The FPIs showed strong interest in the Indian market, reflecting its resilience amid global uncertainties.

Typhoon Yagi pounded south China's island province of Hainan with heavy rain and gusty winds, local authorities said Saturday. Yagi, the 11th typhoon of this year, made two landfalls in China on Friday, first striking Hainan and later Guangdong province. China has sounded a red alert on Friday and warned of floods in the southern region as Yagi made landfall first in Hainan followed by southern Guangdong province and is expected to hit China's Guangxi Zhuang autonomous region and northern Vietnam. More than one million people have been evacuated in the affected areas with work, classes and businesses suspended and over 100 flights cancelled on Friday, the Hong Kong-based South China Morning Post reported.

Narendra Modi accompanied by his Singapore counterpart Lawrence Wong on Thursday visited a leading Singaporean semiconductor company and also signed an MoU on India-Singapore Semiconductor Ecosystem Partnership. Around the same time Maharashtra cabinet panel approved a $10-billion (₹83,947 crore) investment proposal by a joint venture between Israel's Tower Semiconductor and Adani Group to set up a semiconductor chip manufacturing unit at Taloja. A few days earlier, the Union Cabinet had approved setting up of an Outsourced Semiconductor Assembly and Test (OSAT) facility in Sanand, Gujarat by Kaynes Semicon with a Rs. 3,307 crore investment. The capacity of this unit will be 63 lakh chips per day. Now, ET has reported that the Indian Semiconductor Mission (ISM) is likely to receive a second budgetary allocation of up to $ 10 billion ISM, a division within the Digital India Corporation tasked with furthering the country’s semiconductor manufacturing, packaging, and design capabilities was first established in 2022 with a budgetary allocation of $10 billion. The government will have to seek fresh funding under the ISM as it has almost exhausted the funds in the first phase which saw approvals of $11 billion, an official has told ET. Before nod to Kaynes and Tower-Adani plants, India had approved five chip plants: two by the Tata Group in Assam and Gujarat; and one each by Micron and CG Power in Gujarat and by RRP Electronics in Maharashtra.

Tim Cook can be heard saying, “The popular conception is that companies come to China because of low labor costs. I'm not sure what part of China they go to, but the truth is China stopped being the low labor costs country many years ago,"."The reason is because of the skill, the quantity of skill in one location, and the type of skill it is.

Super Typhoon Yagi, Asia's most powerful storm this year, churned towards the northern coast of Vietnam on Saturday after tearing through China's southern island province of Hainan and leaving two people reported dead. The lightning, rain and violent winds that hit Hainan also caused 92 to be injured, Chinese state media said on Saturday, citing local authorities. Yagi made landfall in Hainan on Friday, packing maximum sustained winds of 234 kph (145 mph) near its centre, downing trees and flooding roads. Power supply to more than 800,000 homes was cut.

Over the past two weeks, long-standing China bulls UBS Global Wealth Management, Nomura Holdings Inc., and JPMorgan Chase & Co. have all downgraded the country’s equities, citing concerns ranging from the property-led demand slump to piecemeal stimulus measures and geopolitical tensions ahead of the US elections.

China's central bank held back on buying gold for its reserves for a fourth straight month in August, official data showed on Saturday. China's gold holdings stood at 72.8 million fine troy ounces at the end of last month. The value of the gold reserves, however, rose to $182.98 billion compared with $176.64 billion at the end of July.