China Financial News

Asian stocks lacked direction on Wednesday, while the dollar remained firm despite lower U.S. Treasury yields as markets assessed mixed signals from U.S. policymakers and economic data on the path for Federal Reserve interest rates. The yen remained on the back foot even with the threat of currency intervention from Japanese authorities to support it.

Gold prices were steady on Wednesday, while market participants awaited fresh cues from U.S. Federal Reserve officials for further clarity on the timeline for potential interest rate cuts.

Also Read: Nifty 50, Sensex today: What to expect in Indian stock market trade on May 8 According to Vinod Nair, Head of Research at Geojit Financial Services, the domestic market kept consolidating in spite of encouraging signals from outside the world. A number of variables, such as premium valuations and the low turnout in the current election, are contributing to profit booking in the home market. Nonetheless, FMCG continued to be the largest sectoral gainer throughout today's trading session, supported by hopes for better volume growth from rural regions thanks to favourable monsoon forecasts.

licenses that allow companies to ship goods, such as chips, to sanctioned Chinese telecommunications equipment maker Huawei Technologies .

China’s Yandang Mountain witnessed some tense moments earlier this week, as climbers, who were in large numbers, were found stuck for more than an hour, clinging on to just their ropes.

Toronto-Dominion Bank is hoping it can soon work out a “global resolution” to a series of regulatory and law-enforcement probes it faces in the U.S. over allegations that the lender was used for the laundering of drug money.

SINGAPORE–When Elon Musk made a surprise visit last month to Beijing, the Tesla chief executive brought along a trusted lieutenant: Tom Zhu, the company’s former China head who had skyrocketed through the ranks as a turnaround guru. Now, Zhu—one of just three senior executives including Musk currently named on Tesla’s website—is getting deployed from Tesla’s Texas headquarters back to China at a vulnerable time for the world’s most valuable automaker, according to a person familiar with the matter. Zhu, who was born in China and educated in the U.S.

economy is expected to emerge as the world's third largest consumer market by 2026. In 2023, India’s consumption grew at a faster pace than that of China, US and Germany. But consumption growth lagged investment growth, post pandemic since mid-2022, said a report by UBS Securities.

Gold and silver prices today on 07-05-2024: Check latest rates in your city On Monday, spot gold prices gained almost 1% on Monday amid softer dollar and decline in US treasury yields. Friday’s weaker than expected US jobs report fueled expectation of potential rate cuts later this year. Further, safe haven buying due to the ongoing tension in the Middle East also supported the bullions to trade higher.

Thailand has extended its visa exemption program for tourists from India and Taiwan for another six months, allowing these travelers to enter the country without a visa until November 11, 2024. The move aims to attract more foreign visitors to boost Thailand's economy, which relies heavily on tourism. According to a Bloomberg report, Prime Minister Srettha Thavisin announced the extension following a cabinet meeting on Tuesday, indicating that travelers from India and Taiwan can stay for a maximum of 30 days without a visa. This extension comes after the success of the initial waiver implemented last November. Previously, tourists from India and Taiwan were allowed to stay in Thailand for only 15 days under a visa-on-arrival scheme. By extending the exemption, Thailand hopes to encourage longer stays and more frequent visits from these countries.

consumer business. Reliance Industries Ltd (RIL) is entering the consumer electronics and home appliances market with a new made-in-India brand Wyzr. RIL's retail unit, Reliance Retail, has just launched Wyzr air coolers and plans to extend the range to categories such as televisions, washing machines, refrigerators, air conditioners, small appliances and LED bulbs. Reliance Consumer Products (RCPL) has already been growing rapidly.

Chinese leader Xi Jinping’s visit to European ally Serbia starting Tuesday falls on a symbolic date: the 25th anniversary of the bombing of the Chinese Embassy during NATO’s air war over Kosovo

How do you smooth over trade tensions with the all-powerful leader of economic powerhouse China

Chinese leader Xi Jinping will spend most of his five-day tour in Europe this week in two small countries at the continent’s eastern half

Asian markets are mostly higher, although Chinese shares faltered

Chinese President Xi Jinping is kicking off a three-country trip to Europe with the continent divided over how to deal with Beijing’s growing power and the U.S.-China rivalry

French President Emmanuel Macron has put trade disputes and Ukraine-related diplomatic efforts at the top of the agenda for talks with visiting Chinese President Xi Jinping

Rahul Singh, CIO-Equities at Tata Asset Management, believes the Indian market has inherent strengths that could sustain gains and hence, investors should look beyond immediate triggers. In an interview with Mint, Singh also shared his views on FII and DII trends and different sectors. India’s GDP growth rate has gone past China’s after many decades.

chemicals and polymers maker SRF posted a drop in profit for the fifth quarter in a row on Tuesday, hurt by sustained weak demand in its mainstay chemicals business. SRF's chemical business, which consists of specialty chemicals, fluorochemicals and agrochemicals among others, contributes half the company's quarterly revenue.

China said on Tuesday its military took steps to warn and alert an Australian aircraft after Australia blamed a Chinese fighter jet for endangering one of its military helicopters during an «unsafe» confrontation over the Yellow Sea.

tourist arrivals, Sri Lanka has renewed visa-free entry for visitors from India and six other select countries, aiming to make travel more accessible and convenient for international tourists. The countries included in this initiative are India, China, Russia, Japan, Malaysia, Thailand, and Indonesia, allowing their nationals to visit Sri Lanka for up to 30 days without visa fees. The Sri Lankan government's decision comes as part of efforts to rebuild the tourism industry, which has faced significant challenges due to the COVID-19 pandemic and the country's ongoing economic and political crises. The visa-free entry scheme, launched in October as a pilot project, reflects Sri Lanka's commitment to promoting tourism and creating seamless travel experiences for visitors from key markets. Although the visa-free entry allows visitors from the select countries to stay in Sri Lanka for 30 days, they are required to apply for their visa online through the website www.srilankaevisa.lk before their arrival. This online application process is designed to ensure smooth processing while maintaining security checks for incoming tourists.