China Financial News

United States and China resumed semi-official nuclear arms talks in March for the first time in five years, with Beijing's representatives telling U.S. counterparts that they would not resort to atomic threats over Taiwan, according to two American delegates who attended. The Chinese representatives offered reassurances after their U.S. interlocutors raised concerns that China might use, or threaten to use, nuclear weapons if it faced defeat in a conflict over Taiwan. Beijing views the democratically governed island as its territory, a claim rejected by the government in Taipei. «They told the U.S. side that they were absolutely convinced that they are able to prevail in a conventional fight over Taiwan without using nuclear weapons,» said scholar David Santoro, the U.S. organiser of the Track Two talks, the details of which are being reported by Reuters for the first time.

rupee weakened to a record low versus the US dollar Thursday as broad gains in the American currency globally and corporate outflows hurt the local unit, traders said. The Indian currency shed 0.2% against the dollar to settle at 83.6525/$1, a new closing low, LSEG data showed. During trade, the rupee weakened to a lifetime intraday low of 83.6650/$1.

The Swiss National Bank (SNB) announced on June 20 an extension of its wholesale central bank digital currency (CBDC) pilot program, also known as the “digital franc.”

China's Commerce Ministry has accused the European Union of making unreasonable demands in its investigation into imports of Chinese electric vehicles before announcing it was raising tariffs by as much as 38%

clean energy in 2023 globally may still not be enough to meet the COP28 target of tripling renewables capacity by 2030, consulting firm EY said on Thursday. Besides building assets to generate clean energy, the other challenge faced by companies is getting their projects hooked up to the electric grid, which is struggling to integrate new wind, solar and battery power. WHY IT'S IMPORTANT

European markets have opened higher after a mixed day of trading in Asia

Malaysian Prime Minister Anwar Ibrahim rejects the notion that China’s dominance is to be feared

The 30-share BSE Sensex rose 141 points or 0.18% to settle at 77,479. The broader NSE Nifty gained 51 points or 0.22% to end at 23,567.

Alkyl Amines Chemicals Ltd share price gained more than 7% during the intraday trades on Thursday. Alkyl Amines Chemicals share price opened at ₹2025 levels on Thursday on the BSE with gains of around 1% over the previous close.

Also Read: PSU stocks: Valuation premiums likely to sustain, says MOSFL; SBI, GAIL among 5 preferred PSU stock picksICICI Securities’ stock picks in the chemical sector among direct beneficiaries are Navin Fluorine International, Chemplast Sanmar and SRF, and among indirect winners are Archean Chemical Industries and Tatva Chintan Pharma Chem.Here are top chemical stocks to buy:ICICI Securities has increased Navin Fluorine share price target to ₹4,135 from ₹3,960 earlier on slight increase in EPS by 1-4% over FY25-26E. The brokerage firm maintained its ‘Buy’ rating on Navin Fluorine shares and the stock remains its preferred pick in the agrochemicals intermediate segment.Chemplast Sanmar is next in our pecking order, and we have increased our EPS estimates by 2-9% over FY25-26E as we factor in slightly higher spreads for PVC business on rising regulatory aids, ICICI Securities said.

Uno Minda shares appears set to continue, even after 15 consecutive months of upward momentum without significant pullbacks. In today's trade, the shares extended their bull run, reaching a new all-time high of ₹1,188 apiece with a 12.60% intraday gain.This latest spike in share prices followed a report from global brokerage firm Goldman Sachs, which initiated coverage on the stock with a 'buy' rating and set a target price of ₹1,350 apiece.

Also Read: MOSL advises multi-asset investments after election results: Here's what it recommends for equity, gold, fixed income“Factoring in favourable macroeconomic tailwinds, leading to an upgrade in our blended Nifty-50 target to 25,683 (from 24,084 earlier). The preference for large-caps remains.

Russian President Vladimir Putin is in Vietnam to strengthen ties with its longtime partner in Southeast Asia at a time when Moscow is facing growing international isolation because of its military actions in Ukraine

Asian stocks took a breather on Thursday, hovering near their highest in two years as traders waited for more U.S. policy clues, while sterling was steady before a Bank of England meeting where rates are expected to remain unchanged. Apart from the BoE, investors will also watch out for central bank decisions from Switzerland and Norway on Thursday to set the tone for global rates outlook.

demand optimism and concerns over escalating conflicts offset an industry report that said U.S. crude inventories unexpectedly rose. Brent crude futures for August, due to expire on Thursday, were up 20 cents to $85.53 a barrel by 1235 GMT, while the more active September contract gained 21 cents to $84.74.

Also read | India must learn from China's patent chase and focus on quality over quantity “The treaty could potentially attract investment to India, though several factors will influence the extent of this impact," said Jogeshwar Mishra, partner at law firm Shardul Amarchand & Mangaldas & Co. “These include providing a clearer legal framework for the use of genetic resources and traditional knowledge." The treaty would also improve market confidence, Mishra said, as it would ensure that “traditional knowledge and genetic resources are used ethically and legally, minimising the risk of legal disputes".

BEIJING — Ratings agency Fitch no longer expects China to cut its policy rate this year, and has pushed back its expectations for a reduction to next year as the U.S. Federal Reserve keeps its interest rates high.

China’s securities regulator plans to step up oversight on companies listed on the Star Market, the country’s Nasdaq-style tech board, as part of reform measures to contain market volatility. The China Securities Regulatory Commission said Wednesday that it will enhance oversight on all companies listed on the Shanghai Science and Technology Board, or the Star Market, under the Shanghai Stock Exchange. The regulator said it will prioritize supporting companies with innovative and cutting-edge technologies in listing on the board.

The Federal Trade Commission has referred a complaint against TikTok and its Beijing-based parent company to the Department of Justice

The project aims to explore a multi-central bank digital currency (CBDC) platform shared among participating central banks and commercial banks, built on distributed ledger technology (DLT) to enable instant cross-border payments and settlement. It is the result of extensive collaboration starting in 2021 between the BIS Innovation Hub, the Bank of Thailand, the Central Bank of the United Arab Emirates, the Digital Currency Institute of the People's Bank of China and the Hong Kong Monetary Authority.

₹162 to ₹171 per equity share, with a face value of ₹10 each. The Petro Carbon and Chemicals IPO will begin subscriptions on Tuesday, June 25, and end on Thursday, June 27. The floor price is 16.2 times of the face value and the cap price is 17.1 times of the face value of the equity shares.