China Financial News

Companies within emerging markets feature most frequently across the stable of trusts, with only two developed market-headquartered firm appearing more than twice – Microsoft and 3i Group.

BMW AG is spending €650 million ($712 million) to retool its parent factory in Munich into the company’s first site that will only make fully electric vehicles, part of a push to challenge leaders Tesla Inc. and BYD Co. The overhaul involves four buildings including a new assembly line and will be completed by the end of 2027, BMW said Wednesday.

Mohamed Muizzu is currently on a five-day visit to China, courting investors and trying to deepen bilateral ties. In an address at the Maldives Business Forum in Fujian Province, he termed China as the island nation's «closest» ally.

By Joe Cash

Investing.com — Shares in Intuitive Surgical (NASDAQ:ISRG) rose in premarket trading in New York on Wednesday after the robotic products maker announced preliminary results for the fourth quarter that surpassed analysts' expectations.

Investing.com — U.S. futures stagnated Wednesday, trading in tight ranges as investors adopted a “wait-and-see” approach ahead of the release of the key monthly inflation data later in the week.

Old Bridge Asset Management, said, “We are excited to introduce our first equity fund to investors seeking long-term capital appreciation. The fund's strategy is aligned with our investment philosophy focusing on early-cycle businesses with strong leadership and growth potential." Andrade added, “The launch of the Old Bridge Focused Equity Fund aligns with the unprecedented growth in India's mutual funds industry as highlighted by recent data from the industry trade body AMFI.

ALSO READ: India-Maldives row: ‘China one of our best allies’, Maldives President Muizzu urges Beijing to send more tourists He reached Beijing last night after staying in the Chinese city of Fujian for two days. In an address to the Maldives Business Forum in Fujian Province on Tuesday, Muizzu appealed to China to "intensify" efforts to send more tourists to his country.

₹71,000 crore to China, the ED alleged. Several arrests have been made and a court room drama is expected soon. We will return to the charges in a bit.

Xi Jinping upgraded diplomatic ties with a record number of countries last year as he seeks to rally the Global South to help reshape the US-led world order. Beijing elevated the way it described ties with 17 countries and territories, most of them from the developing world, according to a Bloomberg analysis of statements issued by the foreign ministry. That’s a pace not seen during Xi’s first decade in office.

By Qiaoyi Li and Brenda Goh

Stocks gapped lower, while the equal-weight and small-cap indexes didn’t recover much. The S&P 500 finished the day lower by around 15 bps.

China stocks dipped again on Wednesday to the lowest since February 2019, while Hong Kong shares logged a seven-day losing streak, as the absence of market catalysts kept investor sentiment low. ** The blue-chip CSI 300 Index and the Shanghai Composite Index fell 0.5% each. ** Hong Kong's Hang Seng Index fell 0.6% and the Hang Seng China Enterprises Index dropped 0.5%. ** In Asia, Japanese stocks hit a near 34-year high, while other Asian equities meandered around one-month lows ahead of U.S.

Ukraine war have fallen to an 11-month low as the price tag on the discounted oil rises, figures show. Since the invasion of Ukraine nearly two years ago, India has bought hundreds of millions of barrels of cut-price Russian crude, saving itself billions of dollars while bolstering Moscow's war coffers. The purchases have catapulted it to second place among Russia's customers behind China, and Indian officials have made no secret of their decision to prioritise national interest over international sanctions against Moscow. But the price of Russian crude has risen in the face of OPEC+ production cuts and increased demand from China, analysts say, making it less attractive to Indian customers. Indian refiners bought 1.45 million barrels per day of Russian oil last month, their lowest amount since last January and down nearly 16 percent from November, according to global energy trade intelligence platform Kpler. The «interplay between India and China» was a key driver of the change, Viktor Katona, lead crude analyst at Kpler told AFP, «as both countries now vie for the same barrels». The biggest beneficiary of the change is Moscow: Russian crude has been trading above $85 per barrel, reports say, even though a coalition of the G7, EU and Australia imposed a $60 price cap a year ago. New Delhi's reduced imports will be welcomed by some European policymakers who have raised concerns over how Indian refiners have processed Russian crude into fuel for the European market, effectively bypassing the EU's sanctions. New Delhi and Moscow have ties dating back to the Cold War, and Russia remains by far the biggest arms supplier to the world's most populous country. India has shied away from explicit condemnations of Russia

ByteDance Ltd.’s TikTok became the first app to surpass $10 billion in cumulative consumer spending, helping power mobile app sales to a new high in a year revenue from games was down, according to the latest annual report by data.ai. Video-streaming platforms like TikTok and Disney+ drove an 11% rise in consumer app sales in 2023, showing resilient demand while the games industry dealt with a double-digit sales decline in China that dragged global sales down 2%.

Beijing will «never compromise» on the issue of Taiwan and urged them to stop «provocative actions» in the South China Sea, the defence ministry said Wednesday. China «stressed that it will never compromise or back down on the Taiwan issue,» the ministry said in a readout of the talks in Washington, held Monday and Tuesday, urging the United States to «stop arming» the self-ruled island, which is holding elections this week.

₹62,209 per 10 grams. Silver prices also gained 0.08% to trade at 72,105 per kg. International gold prices held steady as investors refused to make big bets awaiting US inflation print that could offer more clarity on when the US Federal Reserve might begin cutting interest rates, Reuters reported.

AirDrop, as stated by the city's judicial bureau in an online announcement. The agency reported that law enforcement has identified several suspects using this technique but did not reveal whether any arrests have been made. “It improves the efficiency and accuracy of case-solving and prevents the spread of inappropriate remarks as well as potential bad influences," said the bureau.

Life Insurance Corporation of India (LIC) has increased its stake in Navin Fluorine International, one of the largest Indian manufacturers of speciality fluorochemicals, by about 0.24% through open market. The insurance behemoth disclosed in a regulatory filing on Tuesday that it bought 1.21 lakh shares of Navin Fluorine International on January 08 at an average price of ₹3,630.39 apiece. As a result of this transaction, LIC's overall stake in Navin Fluorine International crossed over 5%, reaching 5.04%.

The Maldives Association of Tourism Industry (MATI) also came in support of India and ‘strongly condemned’ the derogatory remarks made by the ministers on PM Modi's post on Lakshadweep. Meanwhile, on Tuesday, Maldivian President Mohamed Muizzu urged China to intensify efforts to send more tourists to his country amid the India-Maldives row.

India-Maldives row that caused the cancellation of reservations by Indian tourists after a diplomatic row erupted over the derogatory remarks against Prime Minister Narendra Modi. Addressing the Maldives Business Forum in Fujian Province on the second day of his five-day visit to China, Muizzu termed China as the island nation's “closest" ally. “China remains one of our closest allies and development partners." He praised the Belt and Road Initiative (BRI) projects launched by Chinese President Xi Jinping in 2014, saying that they "delivered the most significant infrastructure projects witnessed in Maldivian history", according to his speech.