China Financial News

By Nell Mackenzie

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Investing.com — U.S. futures climbed higher Thursday, as investors took confidence in Fed Chair Jerome Powell’s comments, hoping that U.S. interest rates have now peaked.

Vanguard Group Inc. is taking its last steps to exit China and shut down its office in the 29 trillion yuan ($4 trillion) mutual fund market.

PRNewswire. The event will take place in Paris in association with GIFEN, the French Nuclear Industry Association. It will witness over 650 exhibitors and around 20,000 participants from over 76 countries, reported PRNewswire.

(Reuters) -Starbucks beat Wall Street targets for fourth-quarter results on Thursday, as strong demand for its pricey coffees and cold drinks in North America offset a feeble recovery in China, sending its shares up 8% premarket.

Starbucks (NASDAQ:SBUX) posted an impressive set of results that surpassed analyst expectations, sending its shares more than 7.5% higher in early New York trading on Thursday.

SINGAPORE—During his final months as China’s premier, Li Keqiang evoked two grand waterways seen as nurturing Chinese civilization as he tried to reassure citizens about their country’s future. “The Yangtze and Yellow rivers won’t flow backwards," Li said last year, arguing that China would never reverse course on a four-decade policy of opening up its economy. Those words went viral on Chinese social media after Li’s unexpected death of heart failure last week, shared by mourners to subtly rebuke top leader Xi Jinping for seemingly breaching Li’s promise.

By Stephen Nellis

By Leika Kihara

Shein, known for its ultra-affordable clothes shipped from China, is enlisting top Western executives in its quest to go truly global. The China-founded retailer, which has become increasingly entangled in Beijing-Washington friction, has started making some of its products outside China and forged partnerships with Western brands. Now it is globalizing its leadership ranks as it looks to establish itself in its biggest markets, especially the U.S.

Maneesh Dangi, Founder, Macro Mosaic Investing, says “it is very unlikely that the US would have a 2008 play out because the US balance sheets are pretty clean in terms of household balance sheets and corporate balance sheets are not levered. But that cannot be said for Europe, cannot be said for China, it cannot be said for many other emerging markets. So I do not know and I do not think a GFC kind of liquidation or credit events are going to play out in the US but then it is more likely that it could pay out in some other places. Thankfully, Indian balance sheets look as clean as they were in 2007. So India is out of the picture as far as that sort of balance sheet stress is concerned.” Do you think everything is moving on expected lines? The Fed was not supposed to increase rates, they have not increased rates. The Fed was supposed to say that they are keeping the interest rate window open, which is what they said. The Fed was supposed to increase their outlook for the US economy, which they did. So, the Fed is becoming rather easy to call now. Yes, it is a sensible Fed because having taken the rates higher by about 550 basis point, Fed is deeply aware as we all are, that interest rates work with a lot of lag and incidentally I was reading a research report today early that perhaps today's interest rates operating in US could be of last Diwali.

The Tongliang Court in China handed down sentences to 21 individuals, including key figures in a $300 million USDT money laundering case.

Chris Ellison’s Mineral Resources made a down payment on the Bald Hill lithium mine as he advances a billion-dollar spending spree in the West Australian lithium sector, and mounts a potential challenge to SQM’s takeover of Azure Minerals.

WASHINGTON (Reuters) -U.S. House of Representatives Speaker Mike Johnson said on Wednesday he plans to hold a vote on a standalone Israel aid bill despite a Congressional Budget Office report showing it could increase the federal deficit.

Investing.com-- Oil prices jumped from a one-month low in Asian trade on Thursday as weak U.S. economic readings and middling comments from the Federal Reserve saw traders pricing in a diminished chance of more interest rate hikes, denting the dollar.

Investing.com-- Most Asian stocks rose on Thursday, buoyed by a rally in the technology sector as somewhat middling comments from the Federal Reserve spurred bets that the central bank was done with its run of interest rate hikes. 

Asian shares and bonds extended a global rally on Thursday as a non-committal Federal Reserve Chair had markets double down on bets that U.S. interest rates have peaked and cuts are on the way. Investors are now awaiting the results from Apple later in the day, a bellwether for consumer demand and the tech sector.

Dixon Technologies and Karbonn Group have been able to nearly equal the cost of manufacturing in India with that in China, executives said. They have been able to do so by learning from Chinese methods and will invest in automation to further pare expenses.

The U.K. government said Wednesday that it will invest £225 million, or $273 million, into an artificial intelligence supercomputer, highlighting the country's ambition to lead in the technology as it races to catch up to the U.S. and China.