China Financial News

Mid-market stockbroker Petra Capital has lured Nick Burmester from Canaccord Genuity’s London offices to its ranks, just as it signs a joint venture with CGS-CIMB Securities to expand into Asia.

White House and the Chinese government. Biden arrived at San Francisco International Airport on Tuesday afternoon and Xi landed shortly after. The Chinese president was welcomed on the tarmac by Treasury Secretary Janet Yellen, California Gov.

SRF and Aarti Industries have seen 11-18 % rise in their share prices since their October Lows. The outlook for the specialty chemical manufacturers is improving and they are expected to have seen earnings to have bottomed out. The weak demand from developed markets led to increased concerns about specialty chemical manufacturers during the first half of FY24.

India, the US and 12 other members of the IPEF grouping have signed a supply chain resilience agreement that would provide benefits like potential shifting of production centres in critical sectors and mitigating risks of economic disruptions from supply chain shocks. The agreement was signed in San Francisco, where Commerce and Industry Minister Piyush Goyal is attending the ministerial meeting of the Indo-Pacific Economic Framework For Prosperity (IPEF).

BEIJING — The size of unfinished, pre-sold homes in China is about 20 times the size of property developer Country Garden as of the end of 2022, according to a Nomura report on Wednesday.

Xi Jinping, US President Joe Biden has said that for him, the idea of a successful meeting is to get back on a normal course of corresponding, and being able to pick up the phone and talk to one another whenever there is a crisis, US-based ABC7 news reported. Even though Biden has a full schedule for the 30th APEC Economic Leaders' Meeting, his meeting with Xi Jinping on Wednesday is the most crucial one. Their four-hour meeting is scheduled to take place at San Mateo County's Filoli Estate. «To get back on a normal course of corresponding, being able to pick up the phone and talk to one another when there's another crisis,» Biden said, shortly before departing for San Francisco on Tuesday. «Being able to make sure our militaries still have contact with one another,» he told reporters at the White House. According to ABC7 News, there are reports circulating that say that an agreement could be announced on Wednesday that would address source material involved in the illegal fentanyl trade. Prior to their respective trips to San Francisco, Biden hosted meetings with fellow APEC leader Joko Widodo of Indonesia on Monday at the White House. The president of the most populous Muslim nation in the world, Widodo, has been vehemently critical of Israel's actions in the Gaza Strip; thus the visit to the Oval Office came at a rather uncomfortable time, reported ABC7 News. In contrast, Biden has not wavered in his support of Israel's right to self-defence in the wake of the 1,200-death onslaught on October 7 by Hamas terrorists.

UBS Group AG. Stocks in China have currently priced in “lots of negatives,” making them poised for a sharp rebound when catalysts arrive, said Sunil Tirumalai, UBS’ global emerging market strategist. Meanwhile, earnings-based valuations for Indian shares are already at “fairly extreme levels.” Additional stimulus measures from Beijing and improving geopolitical relations can provide “positive sustained market reaction” for China, he said in an interview last week.

Mukesh Aghi, CEO of the US-India Strategic and Partnership Forum (USISPF) told PTI that it is important that communication starts between the US and China, the two largest global economies. The much-anticipated summit between Biden and Xi will take place on Wednesday on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit, which the US is hosting in San Francisco from November 11 to 17. “I think the summit is important both from President Biden's perspective and also President Xi's perspective. China is struggling with its economy.

China is in the midst of a breakneck expansion of its copper industry that’s reshaping global flows of the essential metal for the world’s energy transition. The smelter build-up will be a key talking point for hundreds of copper-industry executives descending this week on China’s commodity hub of Shanghai for Asia Copper Week. Miners and smelters will negotiate key annual ore-supply contracts, and attendees will take the latest temperature of Chinese demand. Despite the financial toll of the pandemic and China’s property crisis, the nation’s metals consumption has been relatively strong in 2023.

BEIJING — China on Wednesday reported better-than-expected retail sales and industrial data for October, while the real estate drag worsened. 

scheduled to meet prior to the 30th Asia Pacific Economic Cooperation (APEC) forum in San Francisco, aiming to mitigate tensions in what's viewed as a critical global rivalry. Leaders from the 21-member forum will gather at the global summit. However, the Biden-Xi bilateral will be the marquee moment of the forum, as it comes amid rising tension between the two nations following a series of events touched off by the shooting down of a Chinese spy balloon that had wafted across the US earlier this year.

US Federal Reserve will not hike interest rates further. Indian markets were shut for a holiday on November 14. On Monday, the domestic benchmark equity indices ended half a percent lower amid mixed global cues.

investments they were counting on for hefty returns. With public markets in a slump and offering unattractive valuations, buyout firms are exploring private sales. But mounting concerns about the risks of investing in mainland China have left so-called secondary buyers demanding discounts of 30% to more than 60%, according to people familiar with the market.

oil markets won't be as tight as expected this quarter, as upward revisions to demand are outpaced by upgrades to supplies, the International Energy Agency said. The IEA boosted forecasts for world fuel consumption this year on surprising strength in China, and still anticipates a supply shortfall during the fourth quarter. But it will be roughly 30% smaller than previously projected, at about 900,000 barrels a day. «World oil demand continues to exceed expectations,» the Paris-based agency said in its latest monthly report.

Sea reported a surprise third-quarter loss as the Southeast Asian tech giant prioritized growth over profits by pouring money into its e-commerce business, sending its shares more than 17% lower on Tuesday. Rising competition from Alibaba Group's Lazada and ByteDance's TikTok, along with new entrants like PDD's Temu, have forced Sea to revamp its playbook this year, with warnings that the increased ecommerce investments may lead to losses in some quarters.

International students attended U.S. universities in surging numbers last year, rebounding from a pandemic slump with the help of a 35% jump in students coming from India

Nepal’s government has decided to ban the popular social media app TikTok, saying it was disrupting “social harmony” in the country

President Joe Biden wants to show Asia-Pacific leaders that he remains focused on the region even as his administration is grappling with the wars in Ukraine and the Mideast and a looming government shutdown in Washington

Asian shares are trading mostly higher ahead of potentially market-moving developments, including a U.S.-China summit and data releases in the U.S., Japan and China

President Joe Biden and Indonesian President Joko Widodo have formalized closer ties between their countries at the White House

President Joe Biden and China’s Xi Jinping’s have no shortage of difficult issues to discuss when they meet Wednesday in the San Francisco area