China Financial News

Japan has landed a spacecraft on the moon, an attempt at the world’s first “pinpoint lunar landing.”

Indian firm Tata Steel says it will close both blast furnaces at its plant in Port Talbot in Wales, eliminating 2,800 jobs

mountainous northeastern Afghanistan, a provincial government official said Sunday. The aircraft crashed in Badakhshan province, which borders China, Tajikistan and Pakistan but the exact site of the accident was unknown.

The surge in illegal activities, through Chinese loan apps, has raised concerns about the exploitation of unemployed youth and financially-stressed individuals in India.

GJEPC) have urged the government to reduce import duty on gold and cut and polished diamonds to help the sector stay competitive globally. India's gem and jewellery industry is dependent on imports for raw materials, including gold, diamonds, silver, and coloured gemstones. The GJEPC seeks a reduction in import duty on precious metals to 4 per cent from the current 15 per cent. It demands bringing down customs duty on cut & polished diamonds to 2.5 per cent from 5 per cent at present. The apex industry body stated that imposing higher import duty on cut and polished gemstones would lead to reduced exports, fewer employment generation in the jewellery industry thereby making survival difficult due to losing competitive edge to other competing countries like China and Thailand. Also Read: Interim Budget measures that Modi govt needs to take

Inflation in Japan slowed for a second month, giving central bankers reason to wait before ending their negative rate policy. While the data support the view the Bank of Japan officials won’t rush into the first rate hike since 2007 when they meet next week, services prices remained elevated and suggest that an eventual normalizing of policy remains on the table. Inflation expectations declined in Europe, while retail sales and consumer sentiment in the US increased.

North Korea said Sunday it has agreed to further strategic and tactical cooperation with Russia to establish a «new multi-polarised international order,» as the two countries work to build a united front in the face of their separate, intensifying tensions with the United States. In describing North Korean Foreign Minister Choe Son Hui's meetings with Russian President Vladimir Putin and Foreign Minster Sergey Lavrov in Moscow last week, the North's Foreign Ministry said Putin also reaffirmed his willingness to visit Pyongyang and said that could come at an «early date.» North Korea has been actively strengthening its ties with Russia, highlighted by leader Kim Jong Un's September visit to Russia for a summit with Putin.

Market expert Ajay Bagga says the worst seems to be definitely over for the IT sector but the recovery will be slow. As we saw from the order books and the commentary of sluggish order flows coming through, margins are not that great and expectation is that it could take two to three quarters for things to normalise. What will be critical is how soon can they get onto the bandwagon of things like generative AI and machine learning. Those are the value additions that the market is looking to reward. But the worst is definitely over.” What is the market telling you because the midcap rally continues unabated and some very sharp earnings reactions, be it on the positive side by the IT big boys or on the negative by an HDFC Bank or for that matter, even IndusInd and Unilever? Ajay Bagga: Yes, quite surprising moves, actually, if you see and most of the impact has been due to the FII moves. Rs 23,000 crore worth shares being sold in these first few days, which was a surprise. We were not expecting a selloff by the FIIs and especially not of this magnitude. Maybe it is related to some of the Chinese money or the foreign money invested in China getting withdrawn and we being a collateral damage within GEM funds. Maybe some part of it was that. But I do not think fundamentally the earnings were that bad for the banks or were that good for the IT companies to see such sharp reactions.

Olympic medal hopes from badminton have always been resting on the shoulders of its women players. They were, expectedly, realised too. Saina Nehwal brought home the first one in 2012 and Sindhu two, in 2016 and 2020 respectively.

HS Prannoy is enjoying the best phase of his career and would be one of the dark horses at the Paris Olympics, reckons Denmark's head coach Kenneth Jonassen. Prannoy had a phenomenal season in 2023, winning a maiden bronze medal at the Asian Games and World Championships, and also sealed his first super 500 title at the Malaysia Masters besides finishing runner-up at Australia Open. Jonassen, who has coached the likes of world no.

Iga Swiatek crashed out of the Australian Open at the hands of Czech teenager Linda Noskova in the third round on Saturday to further deplete an already weakened women's draw heading into the second week at Melbourne Park. While only three of the top 10 women's seeds remain, the main contenders for the men's title have all breezed into the fourth round with Carlos Alcaraz, Daniil Medvedev and Alexander Zverev joining the charge on day seven. Swiatek's bid for a maiden title at Melbourne Park was brought to an abrupt halt when 19-year-old Noskova became the first teenager to down the top seed since Amelie Mauresmo beat Lindsay Davenport in 1999. Noskova held her nerve after Swiatek had won the opening set, and on the big points in the third set, and only let emotions get the better of her after serving out for a 3-6 6-3 6-4 victory. «I think it was an unbelievable match for me,» the world number 50 said.

Also Read: ‘Oil markets well supplied’, says IEA as it raises 2024 global demand forecast; projects lower than OPEC The premium of the first-month Brent contract to the six-month contract rose to as much as $2.15 a barrel on Friday, the highest since November. This structure, called backwardation, indicates a perception of tighter supply for prompt delivery. Back home, on the Multi Commodity Exchange (MCX), crude oil futures due for a February 16 expiry, settled 0.28 per cent higher at ₹6,045 per bbl, having swung between ₹6,084 and ₹6,213 per bbl during the session, against a previous close of ₹6,106 per barrel.

Houthis, a Yemeni rebel group, are attacking commercial vessels. As a result far fewer ships are using the Suez Canal, a shortcut from the Indian Ocean to the Mediterranean Sea. The volume of trade passing through the Panama Canal, which connects the Atlantic and Pacific Oceans, has declined by 30% since November, after severe drought hit its reservoirs, lowering the water level.

Since its formal iteration by Prime Minister Modi at the Shangri-la dialogue in 2018, India’s Indo-Pacific policy has undergone transformative changes. Almost six years down the road, today, it is not only seen as an ambitious outreach campaign but also a tool for India’s strategic recalibration with Indo-Pacific countries. Navigating systemic and strategic constraints, a rising power India has made good attempts in both making friends and alliance building, as well as in managing intense rivalries with China and Pakistan. From a Valluvarian perspective, adeptness at balancing the complexities of super power competition and regional conflicts, can be seen as the essence of India’s Indo-Pacific gambit.

, Apple unveiled two additional configurations: a version with 512 gigabytes of storage for $3,699 and a top-end model with a capacious 1 terabyte of space for $3,899. The base model comes with 256 gigabytes of storage. Complementing the headset, Apple will offer a carrying case for $199, additional batteries for $199, and extra bands priced at $99 each.

China's recovery after opening up from its zero-Covid policy has been marred by a deepening property crisis, deflationary risks, and subdued demand; besides other factors such as a recession and joblessness, Reuters reported. Also Read | China: $6.3 trillion wiped out from market value of stocks as investors play the waiting game Expectations of a strong post-COVID rebound in the world's second-largest economy waned amid weak consumer and business confidence, mounting local government debts, and as global economic slowdown weighed on jobs, activity, and investment. China Beige Book International's survey noted a disappointing recovery from COVID-19, suggesting the need for major global upside surprises or more active government policies for acceleration, the report said.

BEIJING (Reuters) — China's coal imports from Australia picked up in 2023 after a ban of nearly two years was lifted, but they remained below pre-ban levels as the supplier tries to regain market share from cheaper competitors Mongolia and Russia.

Grim milestones have kept piling up in recent days: Tokyo has overtaken Shanghai as Asia’s biggest equity market, while India’s valuation premium over China has hit a record. Locally, a meltdown in Chinese shares is wreaking havoc on the nation’s asset management industry, pushing mutual fund closures to a five-year high. The Hang Seng China Enterprises Index has already lost 11% in 2024.

Arun Misra, CEO, Hindustan Zinc, says “if the market cap goes up, only the government starts to gain during the disinvestment process. We also believe that divestment of shares of silver company and zinc company separately will be easier than divestment of Hindustan Zinc shares as two different sets of buyers or investors will be attracted to buying these two different kinds of company shares. So I expect a positive nod from Government of India nominee directors by the next board meeting. And then we will take some time to implement.” It has been a pretty strong set of earnings, revenue growth of 8%. Margins as well have expanded nearly 200 basis points. Let us talk about the demand scenario. On ground, both domestically as well as international, are we seeing this gradual recovery play out? Arun Misra: Demand in India has been good and there is no dearth of demand.

Read more here Reliance Industries Limited reported a 10.9% increase in its net profit to ₹19,641 crore in the third quarter of FY 23-24. The company's total revenue from operations stood at ₹2,27,970 crore during the quarter under review. The robust performance of the oil and gas segments was one of the major highlights of the quarterly results of Mukesh Ambani's firm.

Reliance Industries, ICICI Bank, HUL, Paytm, are among the stocks that will be in focus todayBenchmark indexes rose in Japan, South Korea and Australia. TSMC jumped more than 5% in Taiwan after its American depository receipts surged almost 10% to close at the highest since February 2022.Shares in mainland China declined after making a late turnaround on Thursday.