China Financial News

Attingal constituency is set to take place on April 26, 2024. The Election Commission of India had released the final schedule for the voting and result announcement in March. Voting for the Attingal Lok Sabha seat is scheduled for April 26, 2024, during Phase 2 of the elections. The results will be declared on June 4, 2024.

Hong Kong Securities and Futures Commission (SFC) has approved three spot Bitcoin and Ethereum exchange-traded funds (ETFs) that will start trading on April 30.

Rahul Gandhi is contesting Lok Sabha Elections against Annie Raja, a leader from the Communist Party of India (CPI), which is a key partner in the opposition INDIA bloc. With Bharatiya Janata Party's (BJP) Kerala state President K Surendran in the fray, the contest in the seat has become triangular. Wayanad will vote, along 19 other seats of Kerala, in the second phase of Lok Sabha Elections 2024 on Friday, April 26.

Day trading stocks to buy today: Following weakness in the Asian stock market, the Indian stock market opened lower on Thursday, ending its four-day winning streak that started last Friday. The Nifty 50 index is down by nearly 60 points, the BSE Sensex is down by over 200 points whereas the Bank Nifty today is down by nearly 170 points. Asian equity markets dropped after Meta Platforms Inc.’s disappointing outlook raised concern about whether the industry that has powered the bull market in equities has run too far.

solar manufacturers filed trade complaints Wednesday formally requesting that the Biden administration impose tariffs on solar products being exported from Southeast Asia into the United States. The petitions were filed with the Department of Commerce and the U.S. International Trade Commission. They come amid growing alarm within the U.S. solar industry that a flood of cheap Chinese green energy technology exports are pushing down prices of solar panels and threatening efforts by the Biden administration to develop a domestic solar supply chain. Chinese companies have been relocating production of solar products to neighbouring countries to avoid existing tariffs, and U.S. manufacturers believe new trade measures are needed to protect their businesses. The complaints call for investigations into the trade practices of Vietnam, Cambodia, Thailand and Malaysia. In the past year, the United States has imported $12.5 billion worth of solar products from those countries as prices of solar products have dropped by around 50%.

Apple lost its crown as China's biggest smartphone seller in the first quarter of 2024 as its smartphone shipments fell 6.6% from a year ago amid intense competition, preliminary data from research firm IDC showed on Thursday. Honor and Huawei were tied for the top spot, with Honor's market share rising to 17.1% and Huawei's share climbing to 17%, IDC said, while the iPhone maker's market share fell to 15.6%.

Xiaomi has locked in 75,723 orders for its sporty SU7 electric sedan as of April 24, and aims to deliver over 10,000 units in June, founder Lei Jun said on Thursday. The delivery target sets a record for an electric vehicle (EV) startup, Lei said during an event on the first media day of the Beijing auto show. The locked-in orders, which refer to those where buyers have opted for non-refundable deposits, have come less than one month into the launch of Xiaomi's first car in late March.

Asian stocks fell on Thursday as disappointing earnings forecasts from Facebook parent Meta Platforms hammered tech shares, while the yen's slump past 155 per dollar for the first time since 1990 raised the spectre of intervention from Tokyo. A 15% dive in shares of Meta in extended trading after the Instagram parent forecast lighter-than-expected current quarter revenue and higher expenses soured the mood, sparking a sell-off in U.S. tech and tech-related stocks.

Saurabh Nanavati, and four others have settled a case of alleged violation of mutual fund and portfolio management services regulations with market regulator Securities and Exchange Board of India (Sebi) by paying ₹4.98 crore as settlement amount. The case relates to an inspection of mutual funds and portfolio management services (PMS) activities of Invesco Asset Management for the period between October and November 2021.

investors were right to back him as an agent of change, Modi’s Bharatiya Janata Party peppered its 2014 poll manifesto with 22 references to “reform.” Ten years later, very little remains of that zeal. The BJP’s 2024 manifesto still promises to “reform, perform, transform.” But the few specifics it offers on the economy are modest — such as automatic approvals for standard housing designs. Gone are the days when Modi pledged to change everything from inefficient markets in labor and farm produce to entire sectors like banking. And yet, the appetite for a third term for the Indian leader is very high in the global financial industry. “Modi has done an unbelievable job in India,” JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said Tuesday at the Economic Club of New York. Both Goldman and JPMorgan are predicting a deluge of overseas capital after general elections are over on June 4. (The BJP is favorite to win the contest.)

The European Union says it will investigate whether China is using unfair methods to deprive companies in Europe of access to its market for medical devices

The head of Mexico's detective service has acknowledged the country is “the champion” of fentanyl production, which appears to run counter to past statements by President Andrés Manuel López Obrador

A team of experts from the U.N. nuclear agency has inspected the tsunami-hit Fukushima Daiichi nuclear power plant for a review of its discharge of treated radioactive wastewater into the Pacific

The hugely popular Chinese app TikTok may be forced out of the U.S., where a measure to outlaw the video-sharing app has won congressional approval and is on its way to President Biden for his signature

spot bitcoin and ether exchange traded funds aim to start trading on April 30, three asset managers that provide the products said on Wednesday. The financial hub is set to be Asia's first to accept cryptocurrency products as a mainstream investment tool, and the products have also received official regulatory approval from the Securities and Futures Commission, according to the Hong Kong markets watchdog's website.

BRUSSELS—The European Union is ramping up economic pressure on Beijing with two new probes into allegations of unfair Chinese business practices, days ahead of Chinese President Xi Jinping’s planned visits to Paris and Budapest. The European Commission, the bloc’s executive body, is voicing growing concern over Chinese subsidies and other economic policies that it says harm European businesses.

Jack Dorsey’s payments company Block has shifted its focus from designing chips to developing a full Bitcoin mining system.

Toronto-Dominion Bank still sees foreign students as an important source of growth even as Prime Minister Justin Trudeau’s government has ushered in new caps on study permits in a bid to ease rental-housing demand.

Hong Kong is gearing up to launch its much-anticipated spot  Bitcoin  and  Ethereum  exchange-traded funds (ETFs) by the end of April. 

Japan is benefiting from India's growth story. Japanese companies and investors are showing heightened interest in India finds an anchor report by Nomura. Japan's FDI in India has been gaining a growing presence, and Japanese investments in foreign equities (as of end-2022) showed India at the top of the list for developing countries although trade ties between Japan and India are currently weak. Japanese individual investors are also investing more aggressively in Indian stocks by way of investment trusts India at the top of the list among emerging market economies, the report said. With the Indian economy maintaining high growth, Japanese corporations are showing more interest regarding investment in India, according to Nomura. “In the ranking of countries seen as promising for the medium term in the Japan Bank for International Cooperation (JBIC)'s FY23 Survey on Overseas Business Operations by Japanese Manufacturing Companies, India took the top spot for a second consecutive year, even as China fell to number three” the report, an collaborative effort by India’s and Japan’s economists and equity strategists.

BJP era, Union Home Minister Amit Shah declared on Wednesday. Speaking in Alappuzha, Kerala, on the last day of campaigning before the state goes to LS polls on Friday, he said the Communist party was finished in India, just as it had been ended all over the world, and so was the Congress. “This Lok Sabha election is the one to make India the world’s third-largest economy. Giving Narendra Modi and the BJP a third time will make India number one in the world in the fields of agriculture, manufacturing and technology,” he said. With a dismal performance in the 2019 general elections where the party was unable to win even a single seat in the state, the BJP is sparing no effort to turn people’s opinions in its favour in Kerala this year, an uphill task in a state that has historically swung ideologically left.