China Financial News

ALSO READ: Macro data, BoE, China verdict, FII mood, global cues to drive markets this weekOn June 18 (Tuesday), US retail sales data for May and a report on industrial production for the same month will be released.June 19 (Wednesday) will see the release of a report on home builder confidence index for June.On June 21 (Friday), data on the S&P flash US services PMI and the S&P flash US manufacturing PMI for June will be declared. Existing home sales data for May will also be released on the same day.Following companies are due to report quarterly earnings in the week ahead— Lennar, La-Z-Boy, KB Home, America's Car-Mart, Accenture, Kroger, Darden Restaurants, CarMax, and FactSet.ALSO READ: Red Lobster Looks to New Wall Street Savior After Prior WoesUS stocks closed mixed on Friday following another slide in Europe.The Dow Jones Industrial Average fell 57.94 points, or 0.15 per cent, to 38,589.16.

air defence missiles, DRDO is going to carry out trials of the indigenous shoulder-fired air defence missiles before handing them over to the Indian Army for user trials. The Defence Research and Development Organisation has been developing Very Short Range Air Defence missiles to meet the requirements of the Indian Army and Air Force to tackle aerial targets like fast-moving drones, fighter aircraft and helicopters in border areas. DRDO is looking to carry out high-altitude trials of the Indigenous tripod-fired short-range air defence missile in mountainous regions like Ladakh or Sikkim, defence officials told ANI.

PLI scheme, the government is in the final stages to put in place similar processes for other manufacturing units, an official said. The move assumes significance as some domestic manufacturing firms have flagged the issue of delay in getting visas for Chinese technicians, who are required for works like installation or repair of certain machines, besides training workers in India. «Most of the PLI (production-linked incentive scheme) visas have been taken care of. For general manufacturing also, we are trying to create a better streamlined SOP… that is with the Ministry of Home Affairs. It's at the final stages. We are hoping to sort it out. We have done a lot of sensitisation,» the official said. The rollout of SOPs does not require any approval from the Union cabinet as it is an internal process to relax norms «a bit» for facilitating visa applications of Chinese professionals or technicians whose expertise is required by domestic manufacturing units, the official added.

Indian stock market: On Friday, the domestic benchmark equity indices Sensex and Nifty 50 closed the session in positive territory. The 30-share BSE Sensex concluded the session up by 181.87 points or 0.24 per cent at the level of 76,992.77, while the Nifty 50 finished at 23,465.60, marking an increase of 66.70 points or 0.29 per cent.In broader market movements, the Nifty Midcap 100 rose by 1.05%, and the Nifty SmallCap 100 gained 0.8%, both surpassing the performance of the benchmark indices.

₹85,582.21 crore in market valuation, driven by a positive trend in equities, with Life Insurance Corporation of India (LIC) leading the gains.During the period, the BSE benchmark Sensex rose by 299.41 points or 0.39 per cent, reaching an all-time high of 77,145.46 on June 13.Among the gainers were Reliance Industries, HDFC Bank, Bharti Airtel, State Bank of India, and LIC, while Tata Consultancy Services (TCS), ICICI Bank, Infosys, Hindustan Unilever, and ITC saw declines in their market valuations.

instant cameras like Instax. Chinese electronic company Fiio came to CES in January 2024 with the CP13 – a portable cassette player with a sleek design and a few retro touches. James Chunge, CEO of Fiio, said he wanted to pay homage to the original Sony Walkman that came out in 1979.

benchmark Brent crude and rupee-dollar trend would also guide the market. «This week is a truncated one with no major triggers expected. However, we anticipate sector-specific movements amid budget-related buzz. Key factors to watch will be progress of monsoon and institutional flows,» said Santosh Meena, Head of Research, Swastika Investmart Ltd.

Nifty remains locked within a narrow range of 23,200-23,500. If it breaks out above 23,600, the index can rally as much as 24,000 depending on news flow around the upcoming Union Budget and 100-day plans by various ministries. However, recent movements in Nifty suggest a time-based correction. «A near-term consolidation seems probable as domestic investors await cues from the upcoming union budget. There is a growing opinion that the government could place emphasis on welfare, giving a fillip to consumption-led stocks,» said Vinod Nair, Head of Research, Geojit Financial Services.

Li Qiang's visit to Australia on Sunday focused on positive aspects of the bilateral relationship including shared giant pandas and a rebounding wine trade after he urged both countries to put aside their differences. China's most powerful leader after President Xi Jinping arrived late Saturday in Adelaide, the capital of South Australia state, which has produced most of the Australian wine entering China since crippling tariffs were lifted in March that had effectively ended a 1.2 billion Australian dollar (USD 790 million) a year trade since 2020. Li visited Adelaide Zoo, which has been home to China-born giant pandas Wang Wang and Fu Ni since 2009, before he was to have lunch at a restaurant at an Adelaide winery.

Also Read: Nifty 50 to hit 25,816 in 12 months; PL overweight on banks, auto, telecom: ITC, BEML among high conviction picksOn a weekly basis, the BSE benchmark climbed 299.41 points or 0.39 per cent, while the Nifty advanced 175.45 points or 0.75 per cent. The benchmark index's tone was subdued from start to finish, resulting in modest gains for both indices. Sectoral buying and traction in select themes kept traders engaged.

South China Sea as well as cultural value and discover its past, authorities have recovered 1,000 pieces of treasure, including copper coins and ornate pottery from the Ming Dynasty. According to China's National Cultural Heritage Administration, valuable artifacts from the debris of a pair of ancient shipwrecks, buried under 5,000 feet have been taken out. The shipwrecks were discovered in 2022 and the authorities toiled for one year to assess their value and ways to reach them. After much deliberations, planning and study, the archaeologists used a crewed submersible called "Deep Sea Warrior" to conduct the excavation, reports CBS News.

Border Security Force and Punjab police, in a joint operation, recovered a Chinese drone along with narcotics from a farming field in Amritsar, the force said «On June 14, 2024, acting on information by the BSF intelligence wing about the presence of a drone with narcotics in the border area of Amritsar district, BSF troops, in collaboration with Punjab Police, launched an extensive search operation in the suspected area» the BSF said in a statement

OnePlus Nord CE 4 Review: Powerful mid-ranger with great battery lifeThe CE 4 Lite could be powered by the Qualcomm Snapdragon 695 processor and paired with the Adreno 619 GPU for handling graphics intensive tasks. The Phone could come with up to 12GB of LPDDR4x RAM and up to 512GB of UFS 2.2 storage.

Also Read | Samco baffled by post election rally; liked Jubilant Food, Metropolis, Mamaearth, Senco in mid/smallcap spaceEASA spokesperson Janet Northcote stated, “EASA will investigate further the root cause of the document traceability issue and continue to closely monitor any new developments that could lead to a potentially unsafe condition in the fleet," as quoted by Bloomberg.Also Read | Latest Market News Today Live Updates June 15, 2024: Samco baffled by post election rally; liked Jubilant Food, Metropolis, Mamaearth, Senco in mid/smallcap spaceBoeing has assured us that it will remove any affected parts on aeroplanes prior to delivery and that the in-service fleet can continue to fly safely. “This industry-wide issue affects some shipments of titanium received by a limited set of suppliers, and tests performed to date have indicated that the correct titanium alloy was used," the company said," as quoted by Bloomberg.An Airbus spokesperson confirmed awareness of the situation and noted that numerous tests on parts from the same supplier confirmed the A220’s airworthiness remains intact.Also Read | Mumbai-Ahmedabad NH traffic chaos: Viral video shows vehicles crawling on highway, netizens call it ‘peak corruption’The integrity of every component used in the aviation industry relies on verified provenance to ensure safety and structural integrity.

India-Middle East-Europe Economic Corridor (IMEC) in the G7 Summit Communique issued at the end of the three-day G7 Summit, attended by Prime Minister Narendra Modi. The Communique was issued on Friday evening after the customary «family photo» at the luxury resort of Borgo Egnazia, where the G7 also reiterated a commitment to a «free and open Indo-Pacific» based on the rule of law. Prime Minister Modi attended the G7 Summit at the invitation of Italian Prime Minister Giorgia Meloni, the host. «We will further promote concrete G7 PGII (Partnership for Global Infrastructure and Investment) initiatives, flagship projects, and complementary initiatives to develop transformative economic corridors for quality infrastructure and investment, such as the deepening of our coordination and financing for the Lobito Corridor, the Luzon Corridor, the Middle Corridor, and the India-Middle East-Europe Economic Corridor, also building on the EU Global Gateway, the Great Green Wall Initiative, and the Mattei Plan for Africa launched by Italy,» reads the communique.

Central bank decisions in Britain, Switzerland and Norway are expected to provide more evidence that the global rate cutting dash is slowing to a crawl, while retail sales data from the United States and China will provide a consumer health check. A supply crisis puts cocoa markets in the spotlight and Europe gears up for a summer of sports with the Euros 2024 tournament kicking off in Germany.

artificial intelligence, economic security and migration on the second and final day of their summit Friday, as their delegations worked on a comprehensive joint communique touching on many of the world's major geopolitical and social challenges. The gathering in a luxury resort in Italy's southern Puglia region also discussed other major topics, such as financial support for Ukraine, the war in Gaza, climate change, Iran, the situation in the Red Sea, gender equality as well as China's industrial policy. The second day opened with a session on migration, a key issue to host Italy, which lies on one of the major routes into the EU for people fleeing war and poverty in Africa, West Asia and Asia.

anti-dumping probe into pork imports from the European Union, the state-backed Global Times reported, escalating tensions after the bloc imposed anti-subsidy duties on Chinese-made electric vehicles (EVs). The move opens a new front in bilateral strains in one of the world's key trading relationships after Brussels slapped tariffs of up to 38.1% on EVs made in China to shield its auto industry from competition. China imported $6 billion of pork in 2023, including offal, with the EU accounting for over half, customs data showed.

Moon is slowly moving away from Earth, 3.82 centimeters per year. Over millions of years, that movement lengthens the average day on Earth. Researchers at the University of Wisconsin-Madison examined rock formations aged at 90 million years to analyze the Earth-Moon interactions 1.4 billion years ago. The scientists concluded that in 200 million years, days on Earth will last 25 hours.

India-UK bilateral trade pact such as the one about minimum import price (MIP) for Scotch whisky and those related to finalisation of a bilateral investment treaty will be discussed after the general elections in Britain, a top official said. The issues that need to be ironed out include duties in sectors like electric vehicles, alcoholic beverages and services. General elections in the UK will be held on July 4. «The outstanding issues to seal the deal will be resolved once the general elections in the UK are over,» said L Satya Srinivas, additional secretary, department of commerce.

India has the world's largest feature film industry. Yet, the state of its independent, especially documentary, filmmaking is not so rosy. It certainly doesn't lack talent.