China Financial News

Emerging-market stocks gained Tuesday as shares in Hong Kong rebounded from a 14-month low on speculation of a new stimulus package in China, while currencies pared earlier losses.

By Shristi Achar A

JSW Steel and Jindal Steel and Power gained up to 4% while Steel Authority of India Ltd saw its share price rise almost 6% on news flow around China Central Bank to cut reserve ratio requirement and boost economic growth. The People's Bank of China (PBOC) has decided to cut the reserve requirement ratio (RRR) for all banks by 50 basis points (bps) in February to boost the economic growth.

By Joe Cash

By Summer Zhen

Investing.com — European stock markets rose Wednesday, as investors digested a deluge of corporate earnings ahead of the release of the latest regional business activity data.

Interim Budget have been robust, but in view of the current global headwinds the govt would need to continue its thrust on public capex, Ficci said in a note on January 24. There is a need for an «Indian Taxonomy» comparable and interoperable with global taxonomies, frameworks and principles, it said, adding that evaluating exposure to sustainable versus non-sustainable activities is difficult for banks and other financial institutions without a taxonomy. China plus one: Given the current global business dynamics and most advanced economies looking at China plus one strategy, India has a big manufacturing opportunity knocking at its doors. India must keep making efforts to become a global manufacturing hub by incentivising and attracting large investments from global manufacturing companies, Ficci said in its budget recommendations. PLI scheme: While the Production Linked Incentive (PLI) schemes have worked well, the government could look at extending the concessional tax regime for manufacturing operations for at least five years, Ficci recommended. Given that many global investors are lookingn to put money to work in India, extending these concessions will boost investor confidence further, it said.

By Toby Sterling

International Energy Agency said Wednesday. In its annual report on the electricity market, the IEA said that renewables — in particular from solar panels — should see their share of total electricity production surpass a third of the total, passing from 30 percent last year to 37 percent in 2026.

ASML, which supplies chipmaking machines to the semiconductor industry, reported Wednesday a rise in annual net profit despite a high-tech trade spat between China and the West. Net profits came in at 7.8 billion euros ($8.5 billion) for 2023, the firm said in its annual results statement, compared to 5.6 billion euros the previous year.

Investing.com-- Most Asian currencies kept to a tight range on Wednesday, while the dollar steadied near six-week highs as markets awaited more cues on when the Federal Reserve could begin trimming interest rates.

Investing.com-- Gold prices edged lower in Asian trade on Wednesday, sticking to a trading range established over the past week as markets grew more uncertain over U.S. interest rate cuts this year.

A look at the day ahead in European and global markets from Ankur Banerjee

By Hyunjoo Jin and Joseph White

Investing.com-- Hong Kong shares of Alibaba Group (NYSE:BABA) surged on Wednesday, tracking a bounce in their U.S. counterparts after reports showed co-founders Jack Ma and Joe Tsai were acquiring shares in the e-commerce giant.

Investing.com-- Most Asian stocks retreated on Wednesday as mixed signals from the Bank of Japan spurred some profit-taking in Japanese markets, while Hong Kong stocks rebounded sharply on a tech-fueled rally led by Alibaba Group.

Mint, Kolli had said that AM Green is in talks with various international and domestic lenders for firming up debt. He added that upon achieving 5 million tonnes per annum (MTPA) green ammonia production scale, AM Green will clock $4 billion in top line and $1.6 billion in run rate Ebitda basis.

BEIJING — Hot competition in China's electric car market is pushing local automakers to sell vehicles with fancy tech that Tesla doesn't yet offer in the country — and sometimes at lower prices.

Envision Energy International, and AM Green, a hydrogen and green ammonia venture wholly owned and controlled by the founders of Greenko Group, have signed an agreement to partner in the manufacture of wind turbines for AM Green’s clean energy projects in India and collaborate on green hydrogen projects. The agreement was signed during the World Economic Forum’s Annual Summit in Davos, Switzerland, the companies said on Wednesday. AM Green and Envision will harness complementary capabilities to manufacture, supply, and service wind turbines in India specific to AM Green’s wind turbine requirements. Through its customers, AM Green will look to commit to an offtake of at least 2GW of capacity per year over the next three years.

PCs, will fuel the next replacement cycle for the Indian PC market that has been falling since 2021, according to Taiwanese firm Asus that will launch an AI-powered consumer notebook in the country on Wednesday. “How we are looking at AI PCs is similar to how we looked at smartphones when they first arrived 10 years back,” Arnold Su, vice president, consumer and gaming PC, at Asus India, told ET. “They were different, new, and promised to make our lives easier.

Lionel Messi showed off a new jersey, then helped christen a new ship