China Financial News

Indo-Pacific Economic Framework (IPEF) as they finalize agreements on two additional pillars — clean energy & infrastructure and tax & anti-corruption. The signing of an agreement on resilient supply chains is also anticipated later this week.

rare earth content has hit high gear, with European, U.S. and Japanese automakers and suppliers racing for alternatives in an area dominated by China. Automakers have mostly relied on motors with rare earth-based permanent magnets, which have been the most efficient at providing the torque to power EVs. But different types of motors without permanent magnets that were previously too big and too inefficient, or those with greatly-reduced rare earth content have become commercially viable, prompting the rush for alternatives.

Investing.com-- Oil prices rose slightly in Asian trade on Tuesday, extending gains after a report from the Organization of Petroleum Exporting Countries helped ease some concerns over slowing demand.

Investing.com-- Most Asian stocks rose slightly on Tuesday, recovering a measure of recent losses as investors hunkered down before key U.S. inflation data, while Chinese markets lagged following weak lending activity data. 

United Kingdom Prime Minister Rishi Sunak reshuffled his cabinet Monday, and Britons can be forgiven if they don’t learn his new ministers’ names. They might not be around long. Changing ministers at this late date is unlikely to change the bleak Tory prospects in an election expected next year.

Investing.com-- Most Asian currencies crept lower on Tuesday, while the dollar clocked small gains before key U.S. inflation data that is expected to determine the path of monetary policy.

TikTok’S chief executive, Shou Zi Chew, faced angry lawmakers in Washington, who grilled him for five hours on topics ranging from misinformation to mental health. A threat of a ban in America, the short-video app’s largest market, looms large. Other Western governments are making similar noises.

Oil prices inched up on Tuesday after an OPEC report said market fundamentals remained strong and due to concerns supplies might be disrupted as the U.S. cracks down on Russian oil exports. Brent crude futures rose 33 cents, or 0.4%, to $82.85 a barrel by 0113 GMT. U.S.

MSCI's broadest index of Asia-Pacific shares outside Japan was 0.49% higher, while Tokyo's Nikkei gained 0.36%. Australia's S&P/ASX 200 index was up 0.61%. The Japanese yen was at 151.71 per dollar in Asian hours, having touched a one-year low of 151.92 on Monday.

Chip technology design maker Imagination Technologies plans to lay off 20% of the company's staff, according to sources familiar with the matter. The U.K.-based company, which signed an agreement to supply Apple with chip technology in 2020, said it was cutting the staff because of a challenging «business environment» over the last 18 months, according to an internal message reviewed by Reuters.

India presents a promising growth story and, ideally, a sustainable one, but the inflow of investments may not match the scale witnessed in China, said Krishna Memani, chief investment officer at Pennsylvania- based Lafayette College's endowment fund. In an interview with Rajesh Mascarenhas, the seasoned money manager said sectors like healthcare and technology can deliver exceptional growth. Edited excerpts: What is your evaluation of India and where does it fit in your portfolio allocation? India's economic growth will be decent, perhaps not as turbocharged as it has been over the last few years. But it will still be the world's largest or fastest growing economy by a wide metric. Although India is an expensive market, foreign investors may have to accept this reality to participate in its growth potential, hoping that growth justifies the high valuation. However, Indian stakeholders must remain cautious. While India presents a promising growth story and, ideally, a sustainable one, the inflow of investments may not match the scale witnessed in China. Therefore, expectations should not outpace the capital allocation process. India is attracting attention from global fund managers alongside Brazil, albeit for different reasons, making them the focal point in the emerging market landscape.

Biden-Xi bilateral will be the marquee moment of the forum, which is dedicated to promoting trade, investment, and economic development among nations around the Pacific Ocean. The meeting came 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. 1) Trade, Taiwan, and managing fraught US-Chinese relations are likely to feature in the talks between the two world leaders.

By David Lawder

The weeklong Asia-Pacific Economic Cooperation (APEC) summit began on Nov. 11 in San Francisco. The highlight of the event will surely be on the sidelines, when United States President Joe Biden and Chinese leader Xi Ping meet on Nov. 15. But with the focus of the organization being on the regional economy, the finance ministers’ meeting is also of primary importance.

The United States Securities and Exchange Commission (SEC) could approve all 12 pending spot Bitcoin exchange-traded fund (ETF) applications by Nov. 17. Beginning on Nov. 9, the SEC reportedly has a “window” to approve all 12 spot Bitcoin ETF filings, including Grayscale Investments conversion of its Grayscale Bitcoin Trust product.

By Steve Holland and Nandita Bose

Investing.com — The Dow eked out a gain on Monday, supported by energy and health care stocks, but upside momentum was kept in checked as traders awaited fresh inflation data due Tuesday. 

Crypto news site The Block has been sold to venture capital group Foresight Ventures in a $70 million deal.

By Tim Hepher, Alexander Cornwell and Pesha Magid

Crypto security analytics firm SlowMist has uncovered a new phishing scam in China that uses a fake Skype video app to target crypto users.

how to spur trade and economic growth across the Pacific region. The meeting between US President Joe Biden and Chinese President Xi Jinping on Wednesday is expected to be a centerpiece of the gathering.