China Financial News

Gold rose to a record as indications the Federal Reserve is getting closer to cutting interest rates added impetus to a rally that’s also been driven by geopolitical tensions and robust Chinese demand.

Mai apke ghar ka naam badal dun to mera ghar ban jayega kya? [If today I change the name of your house, will it become mine]." ALSO READ: US recognises Arunachal Pradesh as Indian territory, strongly opposes ‘unilateral attempts by China’, says official Jaishankar emphasised that "Arunachal Pradesh was, is and will always be a state of India". He said changing names does not have an effect. When asked about claims of alleged encroachments by China in Ladakh, Jaishankar said, “Our army is deployed there (Line of Actual Control)...they know what they need to do." Meanwhile, Ladakh-based climate activist Sonam Wangchuk alleged that China has encroached upon Indian territory.

The Qingdao branch of the Bank of China (BOC) has rolled out a new payment option for Qingdao’s metro transit system through digital yuan hardware wallets.

₹7,531 crore in assets under management (AUM), which tracks the performance of the Nasdaq 100 index. Another large passive fund, the Motilal Oswal S&P 500 Index Fund, also remains open for fresh investments. It tracks the broader S&P 500 rather than the Nasdaq 100, which is dominated by US technology stocks.

Also Read: Rise of the uber-rich drives luxury brands in India Over a century ago, gold was perceived as a luxury item, reserved for special occasions and the affluent. However, today, it has transformed into a common household commodity, with widespread ownership and usage.

Some of the biggest U.S. companies in artificial intelligence have asked their Taiwanese manufacturing partners to step up production of AI-related hardware in Mexico, seeking to diminish reliance on China. Taiwan-based Foxconn, the world’s largest contract electronics manufacturer, and other Taiwanese companies are heeding the call and investing more in Mexico, according to industry executives and analysts.

S Jaishankar on Monday said that India's national security interests are involved in its investigation into the alleged involvement of a government official in the assassination plot aimed at Khalistani extremist Gurpatwant Singh Pannun. As reported by PTI, Jaishankar while replying to a question about US Ambassador to India Eric Garcetti's statement that the involvement of a government official in an assassination bid on the citizen of another country is an “unacceptable red line", said, “It is something we are investigating as we believe our own national security interests are involved in that investigation." Also Read: Katchatheevu row: Jaishankar says ‘6,184 fishermen, 1,175 vessels detained by Sri Lanka in 20 years’ Jaishankar further noted that the US ambassador will say what he feels is the thinking or position of his government.

production-linked incentive (PLI) scheme for smartphones in August 2021, as per an Economic Times report. The majority of those employed are first-time time job seekers aged between 19 and 24 years, it added citing estimates from government officials and experts. Companies that get PLI benefits are required to report employment data to the government.

Stock Market News: The beginning of the new financial year saw new highs for the domestic equities benchmark indices, the Sensex and Nifty 50, driven by metal stocks following positive data from China. An improvement in a crucial US inflation figure also helped the overall sentiment. The BSE Sensex rose by 0.81% to reach an all-time high of 74,254.62, while the blue-chip NSE Nifty 50 index climbed by up to 0.91% to a new record high of 22,529.95.

China launches an amphibious attack on Taiwan. The U.S. responds with a missile attack to sink Chinese ships.

Rose Hanbury's United Kingdom estate Houghton Hall has refuted claims regarding the possession of antique valuables allegedly looted from China, as per a Hindustan Times report. The accusations arose following scrutiny towards artefacts in the Marquess and Marchioness of Cholmondeley's grand residence.

SAIC Motor intends to significantly reduce its workforce at its joint ventures with General Motors (GM) and Volkswagen (VW), as well as at its electric vehicle (EV) subsidiary, Reuters reported citing sources. The planned reductions include slashing 30 percent of employees at SAIC-GM, 10 percent at SAIC Volkswagen, and over half at its Rising Auto EV arm, it added. The staff cuts are not expected to occur all at once through mass layoffs but are targeted for the year 2024.

China's manufacturing activity expanded at the fastest pace in 13 months in March, with business confidence hitting an 11-month high, driven by growing new orders from customers at home and abroad, a private survey showed on Monday. The Caixin/S&P Global manufacturing PMI rose to 51.1 in March from 50.9 the previous month, above analysts' forecasts of 51.0 and marking an expansion for the fifth consecutive month. The 50-point mark separates growth from contraction.

Oil prices edged down slightly on Monday, holding on to most of their recent gains amid expectations of tighter supply from OPEC+ cuts, attacks on Russian refineries and upbeat Chinese manufacturing data. Brent crude fell 17 cents, or 0.2%, to $86.83 a barrel by 0017 GMT after rising 2.4% last week. U.S. West Texas Intermediate crude was at $83.06 a barrel, down 11 cents, or 0.1%, following a 3.2% gain last week.

Gold prices touched a record high on Monday after data showed that U.S. inflation moderated in February, boosting bets for the Federal Reserve's June interest rate cut. FUNDAMENTALS * Spot gold rose 1% at $2,255.39 per ounce, as of 0103 GMT. Bullion hit a record high of $2,256.09 per ounce earlier in the session.

Sensex spiked 655.04 points to close at 73,651.35, while the Nifty 50 settled 203.25 points, or 0.92%, higher at 22,326.90. Nifty 50 formed a reasonable bull candle on the daily chart with a long upper shadow. “This pattern indicates high volatility in the market near the all-time highs around 22,500 levels.

South China Morning Post has reported. On Saturday, the Ministry published the country’s latest set of “standardised" names which included 11 residential areas, 12 mountains, four rivers, one lake, one mountain pass and a piece of land.

Read here: Week Ahead: RBI Policy, auto sales, Q4 updates, global cues among key market triggers in first week of FY25 On Thursday, the Indian stock market indices ended sharply higher amid positive global cues, ending the financial year 2024 with robust gains. The Sensex spiked 655.04 points, or 0.90%, to close at 73,651.35, while the Nifty 50 settled 203.25 points, or 0.92%, higher at 22,326.90. The benchmark equity indices wrapped up the financial year 2023-2024 with notable gains as the Nifty 50 soared by 29%, while the Sensex jumped 25% during FY24.

Bangladesh Prime Minister Sheikh Hasina is fighting back against the Opposition BNP’s India-Out campaign and has advised the BNP leaders and their families to first ban India made products in their homes before launching the malicious campaign. Last week Hasina launched an attack on BNP’s “India-Out” campaign on the occasion of the country’s Independence Day on March 26 advising the leaders of the Opposition party to first shun India made products at home and highlighted that even most kitchen items in Bangladesh are bought from India. “How many Indian saris do their wives have?” Hasina asked in a reference to BNP leaders at an event in Dhaka organised on the occasion of the country’s Independence Day observed on March 26.

The majority of these are first-time job seekers in the 19-24 years age group, said government officials and experts aware of the details. Apart from this, about 300,000 people have been employed indirectly, they estimated. Companies that get incentives under the PLI scheme need to submit employment creation data to the government.

smuggled Chinese garlic in India has prompted authorities to step up vigilance at the land customs posts. Customs authorities have deployed sniffer dogs and alerted its local intelligence at wholesale distributors and warehouses to prevent smuggling via bordering Nepal and Bangladesh, said people aware of the matter. «There has been a spike in such instances, especially in Bihar, Uttar Pradesh and the Northeast, where garlic is transported via Nepal,» a customs official told ET on condition of anonymity.