China Financial News

Nifty 50 ended with weekly gains of 0.4% amid significant volatility and a sell-off in bluechip stocks on Friday after concerns of greater scrutiny on investments done from Mauritius soured D-Street sentiments. When markets resume trading on Monday, a host of important domestic and global events lined up during the holiday-truncated week are likely to impact them. Commenting on last week's action, Santosh Meena, Head of Research, at Swastika Investmart, said that Nifty surrendered most of its gains on Friday dragged by US inflation concerns, geopolitical tensions, and selling by Foreign Institutional Investors (FIIs).

manufacturing slump. The nascent industrial recovery is led by the world’s two biggest economies. Chinese manufacturing has made a strong start to the year, boosting the economic outlook, and US factory activity unexpectedly expanded last month for the first time since September 2022, buoyed by rising new orders and a jump in production.

David Chang, said it won't defend its trademark on the name “chile crunch" after it sparked an outcry by sending cease-and-desist letters to other businesses using the term. Momofuku started selling its Chili Crunch product in 2020, a crunchy spicy oil with dried peppers and other ingredients like sesame seeds and garlic. It's a riff on Chinese condiment chili crisp and other similar products from other countries.

As the Middle-East braces for potential Iranian strike, commandos from Iran's paramilitary Revolutionary Guard today rappelled down from a helicopter onto an Israeli-affiliated container ship near the Strait of Hormuz and seized the vessel. U.S. President Joe Biden had said on Friday he expected Iran to attack Israel «sooner, rather than later» and warned Tehran not to proceed. Israel did not claim responsibility for the airstrike on April 1. But Iran's supreme leader, Ayatollah Ali Khamenei, said Israel «must be punished and shall be» for an operation he said was equivalent to an attack on Iranian soil.

China renaming 30 places in Arunachal Pradesh, Union Minister VK Singh on Saturday said that changing names won't have any effect, adding that Arunachal Pradesh will always be India's part. «By changing the names of the places does not mean that it is their place. I can say confidently that na ek inch udhar hui hai naa ek inch idhar… Opposition is just making an issue as they don't have anything or proper knowledge,» Singh told ANI. When asked about the preparations for Lok Sabha, he said that the manner in which the BJP and our workers are working hard, the results will be good.

Congress on Saturday hit out at the Narendra Modi government on the issue of Chinese transgressions and said External Affairs Minister S Jaishankar's reported remark that «China has not occupied any of our land» is akin to giving another free pass to the neighbouring country. Congress president Mallikarjun Kharge said the EAM's statement is a «copy-paste» of Modi's clean chit to China after the Galwan skirmish in 2020, when 20 Indian soldiers were killed. Kharge responded to the remark in a post on X, «Wearing '56-inch' long Chinese Blinkers, on the 'Laal Aankh,' Modi Government has given a free pass to the Chinese, twice in a week's time.» He added, «First, @narendramodi ji's interview in foreign press where he failed to put forth India's case strongly at the global stage. Now, his Foreign Minister, handing over another Clean Chit to expansionist China.»

ALSO READ: India slips to 6th rank on Maldives Tourism charts as President Mohamed Muizzu welcomes China "There is only one platform left. As the two countries have already signed, they [the remaining Indian military personnel] will also be recalled ahead of May 10. They will leave," President Muizzu was quoted by the report as saying.

ET Now: The deposit growth what we have seen for private banks has been strong. In fact, the advances growth for PSU banks has also been in a very comfortable range. Now, should we expect stellar numbers from banks and finance also? What are you making out of it?

China has not liked Tesla CEO Elon Musk planning to open an electric car factory in India. Musk is set to travel to India later this month and meet Prime Minister Narendra Modi, with plans for a Tesla factory expected to be announced. Musk has negotiated with the Indian government for long. He preferred to import cars into India at a lower duty while India wanted him to manufacture cars locally. He is likely to announce Tesla's India entry after the government announced its new EV policy last month which is likely to suit him. The government will allow the import of completely built-up electric cars that have a minimum cost, insurance and freight value of $35,000 (Rs. 29.2 lakh) at 15% import duty five years in exchange for a minimum investment of $500 million to start local manufacturing. India levies import duty of up to 100% on completely built-up cars. Read| Musk coming to India this month, may announce Tesla's India plan during meeting with PM Modi

Amidst growing concerns about national security and infrastructure vulnerabilities, China’s role in the cryptocurrency sphere has become a focal point of discussion. 

Videos of Pakistan Army allegedly 'torturing' policemen spark outrage The same attackers later fired at a car belonging to a provincial parliamentarian. While the lawmaker was not in the vehicle, two passengers were killed and two others injured when the car careened into a ditch, AFP reported. Prime Minister Shehbaz Sharif described Friday night's attack as an "incident of terrorism" in a statement and said "facilitators will be punished".

‘Uri is our reply’: Jaishankar affirms India's stand on cross-border terrorism "Narendra Modi came (to be Prime Minister) only in 2014, but this problem did not begin in 2014. It started in 1947, not even after the Mumbai terrorist attacks (of 26/11). This started in 1947.

AI) chips to China's military modernization efforts. This move comes as part of the US government's efforts to prevent sensitive American technology from being used for military purposes in China. The blacklisted companies, including Linkzol (Beijing) Technology Co, Xi'an Like Innovative Information Technology Co, Beijing Anwise Technology Co, and SITONHOLY (Tianjin) Co, were among 11 additions to the Commerce Department Entity List this week. Being placed on this list makes it significantly challenging for these companies to access American goods and technology.

Philippines, the United States and Japan will change the dynamic in the South China Sea and the region, Philippine President Ferdinand Marcos Jr. said on Friday, while seeking to assure China it was not a target. «I think the trilateral agreement is extremely important,» Marcos told a press conference in Washington a day after meeting President Joe Biden and Japanese Prime Minister Fumio Kishida in the nations' first trilateral summit. «It is going to change the dynamic, the dynamic that we see in the region, in ASEAN in Asia, around the South China Sea,» Marcos said, referring to the Association of Southeast Asian Nations.

markets retreated despite a tech-fueled rebound on Wall Street the day before. Oil prices were higher. The future for the S&P 500 slipped 0.1% while that for Dow Jones Industrial Average edged 0.1% higher.

Gold rate today: Despite the continuous rally in the US dollar rates and the US Treasury yield, gold prices finished higher for the fourth week in a row. The MCX gold rate registered over ₹1,000 per 10 gm on Friday and touched a fresh high of ₹73,461 per 10 gm mark.

Ukraine, China is helping Russia ramp up its defence industrial base at such a large scale that Moscow is now undertaking its most ambitious expansion in military manufacturing since the Soviet era, CNN reported, citing senior Biden administration officials. One of the official claimed that the Chinese and Russian entitles have also been working jointly to produce drones inside of Russia. The support from China is having a significant impact on Russia's ability to continue its assault on Ukraine, while Ukraine's military has been plagued with equipment and weapon shortages. The challenge for Ukraine is exacerbated by Republicans in the US Congress continuing to block a vote on a new American military aid package to Kyiv.

Hong Kong is expected to approve Bitcoin and Ether ETFs as early as Monday, according to two sources familiar with the matter, marking a big step for the cryptocurrency industry in the region.

The victims of an investment fraud scheme have called on China to negotiate with the UK government to recover 61,000 Bitcoin seized in a money laundering investigation, valued at $4.3 billion at the time of publication.

New Delhi's decision to post military and defence attaches to several new countries reflects India's changing assessments of strategic interests. Countering China, safeguarding critical gateways and increasing export of Indian military hardware is behind the choice of these new outposts that include several countries in Africa, East Europe and Asia Pacific. Now, GoI must ensure that defence personnel in missions abroad aren't limited to procurement, trade and training, as defence is an essential component of strategic relations. A better understanding of a defence attache's role is a must for the most optimum outcome.

China has surged sales to Russia of machine tools, microelectronics and other technology that Moscow in turn is using to produce missiles, tanks, aircraft and other weaponry for use in its war against Ukraine, according to a US assessment. Two senior Biden administration officials, who discussed the sensitive findings Friday on the condition of anonymity, said that in 2023 about 90 per cent of Russia's microelectronics came from China, which Russia has used to make missiles, tanks and aircraft. Nearly 70 per cent of Russia's approximately USD 900 million in machine tool imports in the last quarter of 2023 came from China.