China Financial News

By Ankika Biswas

BEIJING (Reuters) — A court in China's capital Beijing on Friday accepted Zhongzhi Enterprise Group's application for bankruptcy liquidation, as the wealth manager grapples with a deepening property market downturn.

If the most important development of 2024 will be the wave of elections sweeping the democratic world, the second-most important story to watch is China’s economy. It boils down to two questions: What is it that has steeled Xi Jinping’s nerve to drive China into this—possibly necessary—economic turmoil, and can he keep his resolve over the next 12 months? The deterioration of the Chinese economy is, perhaps surprisingly for anything involving China, reasonably well understood. The country has never recovered from the twin shocks of a Beijing-induced property-market slowdown and the draconian (and failed) zero-Covid policy of the pandemic era.

BEIJING (Reuters) -Tesla is doing an effective recall on 1.62 million vehicles, including its models S, X, 3 and Y in China, the market regulator said on Friday.

Investing.com-- Most Asian currencies moved in a flat-to-low range on Friday, while the dollar hovered near three-week highs as markets awaited key U.S. labor data for more cues on the Federal Reserve’s plans for interest rate cuts. 

By Andrew Silver

least developed country. Bangladesh’s GDP in 2023 is estimated to have grown at 6%, as per a World Bank report. There are several other compelling factors to why India would be keenly watching the results of the 7 January poll in the country it helped gain independence from Pakistan in 1971.

SHANGHAI (Reuters) — Tesla (NASDAQ:TSLA)'s strategy in China of real-time, aggressive management of its sales staff is giving its stores an edge over dealerships offering BYD (SZ:002594) and other brands in the world's largest auto market, according to three people with knowledge of the matter.

SHANGHAI (Reuters) — China's yuan eased against the dollar on Friday, as a widening yield spread and balance sheet policy divergences between the U.S. and China remained short-term headwinds for the yuan.

nuclear-power stations faster than any other country. It has also invested heavily in renewable energy (see chart 2), such that it now has around 750 gigawatts of wind and solar generating capacity, about a third of the world’s total. By the end of the decade the government aims to have 1,200GW of such capacity, more than the total power capacity of the European Union at the moment.

Investing.com-- Most Asian stocks moved little on Friday as they steadied after a weak start to the new year, although anticipation of key U.S. payrolls data and persistent concerns over China kept investors on edge.

“We expect Nifty50 to give a further return of 5,000 points and Nifty50 is expected to reach 26,000 in the year 2024,” says Shailesh Saraf, smallcase Manager & MD — Dynamic Equities Pvt Ltd. In an interview with ETMarkets, Saraf who has over 3 decades of experience in capital markets said: “We believe that 2024 will continue to see a great number of IPOs—possibly even better than 2023—given the expectation of GDP growth and the India manufacturing story where capital spending by the Government is significant ($120bn),” Edited excerpts: We were cruising nicely but suddenly COVID, freight concerns, and potential geopolitical tension strike D-St. What is your take – is it profit booking or will any of the above factors have a material impact? Shailesh Saraf: The Indian market has crossed 4 trillion USD in terms of market capitalization. With 25% gains this year India has outperformed the major global markets like the US, China, Japan, and Europe.

Cathie Wood has started buying Tesla Inc. shares after selling them for most of last year. Her purchases come at a time when Wall Street’s outlook on the electric-vehicle maker is darkening rapidly.

Stocks and bonds steadied after a bruising two-day selloff to start 2024. Oil advanced as conflict in the Middle East added to supply concerns.

China, has commended India's economic strategies and diplomatic accomplishments during the last four years under Prime Minister Modi's leadership. This positive assessment was articulated in an article titled “Bharat Narrative," highlighting New Delhi's strategic thinking in “foreign policy has evolved, moving towards a great power strategy." Also Read: Jaishankar dismisses 'West as bad guy' narrative, sheds light on Global South's rising role in diplomacy An article by Zhang Jiadong, who serves as the Director of the Centre for South Asian Studies at Fudan University in Shanghai, emphasized India's notable advancements during the preceding four years.

By Devayani Sathyan

BEIJING — BYD has overtaken Tesla again by the sheer number of new energy vehicles produced in 2023, thanks in part to the Chinese automaker's hybrids and wide range of offerings in a lower price range.

(Reuters) — A look at the day ahead in Asian markets by Alden Bentley, Americas Breaking News Editor for Finance & Markets

China is “not normal". This comes even as innumerable disengagement talks, diplomatic, and military talks have failed to resolve the issue in Eastern Ladakh- a trouble that has been brewing for over three years now. The Indian and Chinese troops are locked in an over three-and-half-year confrontation in certain friction points in eastern Ladakh even as the two sides completed disengagement from several areas following extensive diplomatic and military talks.

India's increased intake of African oil helped partly offset the 18% month-on-month import decline from its top supplier Russia in December, according to energy cargo tracker Vortexa. Russia's share in India's imported crude market shrank to 30% in December from 34.5% in November. Africa's share increased to 7.6% from 4.7%.

Stifel analysts downgraded shares of Yum! Brands (NYSE:YUM) to Hold from Buy and Papa John's (NASDAQ:PZZA) to Sell from Hold in a note to clients Thursday. The firm maintained a price target of $135 for YUM and $65 per share for PZZA.