China Financial News

A recent report by blockchain researcher Bitrace has shed light on the potential use of stablecoins in money laundering activities. 

By Robert Harvey

Investing.com — U.S. stock futures traded largely flat Wednesday, with traders consolidating the year's strong gains in the final week of the year. SoftBank received a hefty windfall in the form of T-Mobile US shares, while Toyota detailed a record November for global sales. The Chinese economy showed signs of life, while the crude market continued to look at the turmoil in the Middle East.

BEIJING (Reuters) — China will strive to expand domestic demand, ensure a speedy economic recovery and promote stable growth, according to an interim report on China's 14th five-year plan published by parliament on Wednesday.

Tesla is expected to post another record quarter for electric vehicle (EV) deliveries, likely shy of an ambitious 2 million annual internal target that CEO Elon Musk touted at the beginning of the year. Faced with slowing sales, Tesla leveraged its industry-leading margins and slashed prices of its four car models globally in 2023, with a focus on China, where the company has lost market share to locals including BYD .

A smelting furnace has exploded at a Chinese-owned nickel plant on Indonesia’s Sulawesi island, killing at least 13 workers and injuring dozens of others

China's authority in charge of press and publications has approved 105 online games, saying it fully supports the industry after newly proposed curbs caused massive losses for major game companies

A distillery in southwestern China is aiming to tap a growing taste among young Chinese for whisky in place of the traditional “baijiu” liquor used to toast festive occasions

The death toll following the explosion of a smelting furnace at a Chinese-owned nickel plant on Indonesia’s Sulawesi island has risen to 18

Asian shares have advanced, tracking gains on Wall Street after markets there reopened following Monday's holiday

World shares have advanced, tracking gains on Wall Street after markets there reopened following Monday's holiday

China says it is banning a United States research company and two analysts who have reported extensively on claims of human rights abuses against Uyghurs and other Muslim minority groups native to the country’s northwest

Sensex rallied over 700 points on Wednesday to scale the 72,000 mark for the first time. Nifty, too, hit a fresh all-time peak of 21,654.75 amid all-round buying in banks, auto, metals and IT stocks. The market rally was broad-based but Nifty's 1% rise left smallcap and midcap indices behind as investors found more value in bluechips after the non-stop rally seen in smaller stocks. UltraTech Cement ended over 4% higher, along with other cement stocks, after Nomura upgraded the sectoral outlook. Among bluechips, Hindalco and Bajaj Auto ended 4% higher while heavyweight HDFC Bank advanced 1%. The combined market capitalisation of all BSE-listed stocks rose by Rs 2.5 lakh crore to Rs 361.4 lakh crore. Here are the key factors behind today's rally:

The problem was staring up from a deck of cards, handed from one presidency to the next. As the Trump administration exited the White House, its national security team left behind some 30 baseball-style cards for the incoming Biden staff, monuments to an ancient practice that had somehow become a grave 21st-century challenge. Each bore the photo of an American held hostage abroad.

China Aerospace Science and Technology Corporation, the Long March 11 carrier rocket blasted off from the Xichang Satellite Launch Center in Southwest China's Sichuan Province. A pair of side boosters from the Long March 3B rocket used in a recent launch appear to have descended near populated regions in the Guangxi province, downrange from the Xichang launch site in Sichuan.

Metal stocks rallied for the fourth consecutive session on Wednesday, which saw the Nifty Metal index hitting a lifetime high. Rollover of positions to the January derivative series and a reversal in the dollar index are aiding the up move in the stocks in the sector. In four sessions, the Nifty Metal index has gained nearly 6% and hit a lifetime high of 7863.75 points. Among base metals, Hindalco Industries rose more than 3% and scaled a 52-week high of Rs 603. National Aluminium Co rose over 1% to Rs 116.85. Steelmakers across the board gained, with Tata Steel, Steel Authority of India, and JSW Steel rising 1-2%.

European shares were marginally higher on Wednesday as robust China data lifted miners, while an overnight Wall Street rally amid persisting optimism the Federal Reserve could begin cutting rates as early as next March helped tech stocks rise. By 0814 GMT, the pan European STOXX 600 rose 0.1% at 477.83 points following an over 0.4% gain across major Wall Street indexes overnight. Basic resources was amongst the top gainers, rising 0.4% as most base metal and iron ore prices advanced after data showed manufacturing activity in top consumer China improved last month, while energy advanced 0.6%. The technology sector, which houses Europe's major chipmakers, jumped 0.7%, in line with their rising Wall Street counterparts. Keeping a lid on gains, telecoms and insurers fell 0.4% each. Volumes are expected to be light as traders return from an extended Christmas break with only a few trading days left in 2023. Bayer rose 1.7% after the German drugs-to-pesticides group said it has won a trial in a lawsuit brought by a California man who said he developed cancer from exposure to its Roundup weedkiller.

China has launched its first automated digital yuan wallet-opening machine for overseas passport holders.

Tata Motors expect record sales in 2024, and big cities are racing to adopt electric buses. Despite the subsidy row, India is expected to become one the world's largest EV markets. India’s biggest and increasingly most consequential neighbour, China will complete 75 years of rule by a one-party communist regime on 1 October.

₹887.95 apiece on the BSE. Emkay Global Financial Services has initiated coverage on Tejas Networks with a ‘Buy’ recommendation and DCF-based target price of ₹1,050 per share, implying 14.3x P/E (Dec-24E).

Joey Jia witnessed the 2020 implosion of short-form video app Quibi and thought: I can do better. Hollywood mogul Jeffrey Katzenberg’s high-profile but short-lived startup charged users $4.99 a month for slick content meant to appeal to a wide user base. Jia, a veteran of Chinese tech companies, says he saw a market in the U.S.