China Financial News

In this article

Bitcoin application-specific integrated circuit (ASIC) manufacturer Bitmain has paused employee salary payments for September and beyond.

By Clare Jim and Scott Murdoch

The impact of the conflict in West Asia could well be felt in markets across the world. Dalal Street was no exception. In India, Nifty opened gap down and remained in negative territory throughout the session. It finally ended down 0.7%, around 19500 and the Sensex shut shop at 65,512, down nearly 500 points. The market saw heightened volatility and 27 of 30 index stocks on Sensex ended lower on Monday. All sectors ended in red with major selling seen in PSU Banks, metals and consumer durables. The Adani stock cracked even as the company issued statement highlighting the concerns and employee safety at the Haifa Port.

“It is difficult to believe that [the regulator] would actually stop a distressed company from restructuring,” the group said.

Investing.com — U.S. futures slumped Monday, as investors fretted over the impact of the intensifying conflict between Israel and Hamas and looked ahead to fresh inflation data later this week.

Congress MP Rahul Gandhi said that PM Modi is «incapable» of doing the caste census. «The PM is incapable of doing the caste census. Our three out of four CMs are from the OBC category.

Representatives in the European Union are reportedly negotiating a plan for additional regulations on the largest artificial intelligence (AI) systems, according to a report from Bloomberg. 

BEIJING/TAIPEI (Reuters) — China on Monday extended an investigation into what it calls Taiwan's trade barriers against it by three months to the eve of the island's presidential election, prompting Taipei to accuse Beijing of attempting to interfere in the vote.

By Louis Juricic and Sarina Isaacs

Investing.com -- U.S. stock futures slump after fresh violence over the weekend between Israel and Hamas. The conflict's geopolitical ramifications spark a jump in oil prices, adding to concerns over inflationary pressures as crucial U.S. consumer price data looms later in the week. Elsewhere, activist investor Nelson Peltz reportedly plans a push for board seats at Walt Disney (NYSE:DIS), while Citigroup (NYSE:C) agrees to sell its mainland Chinese consumer wealth unit to HSBC Holdings (LON:HSBA).

We don’t support this browser anymore. This means our website may not look and work as you would expect. Read more about browsers and how to update them here.

We don’t support this browser anymore. This means our website may not look and work as you would expect. Read more about browsers and how to update them here.

BEIJING — China's big «Golden Week» holiday saw domestic tourism rebound to around pre-pandemic levels, while overseas travel had yet to fully recover, according to official figures.

chipmakers, diamond processors and software-services providers. Saturday’s assault has sparked fresh concern about geopolitical risks among investors just when global financial markets were already grappling with the impact of high-interest rates and the slowdown in China’s economy. Oil surged more than 5% while US equity futures dropped in Asia trading, as the risk of the conflict escalating across the Middle East region remains acute. “The Israel-Hamas conflicts over the weekend may escalate geopolitical tensions in the Middle East region, causing risk-off trades,” Tina Teng, an analyst at CMC Markets wrote in a note. “Markets will be concerned about the rippling effects to the region.” The MSCI Asia Pacific Index treaded water as markets in Japan, South Korea and Taiwan were closed for a holiday, while trading in Hong Kong was halted due to a typhoon. Here are some global themes to watch: Technology Chip stocks from Nvidia Corp.

Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here! "The agents were tasked with assassinating Hardeep Singh Nijjar, the Sikh leader in Canada. Following the meeting, the CCP agents meticulously executed the killing plan," she claimed. Explaining their modus operandi, the independent blogger alleges, "On June 18th, the agents armed with silenced guns tracked Nijjar.

BEIJING — China called for a ceasefire in the Israel-Hamas conflict — and for «establishing an independent State of Palestine,» according to a Ministry of Foreign Affairs statement Sunday.

Sunil Subramaniam, MD & CEO, Sundaram Mutual, says he “would tend to be underweight on external oriented sectors. This includes metals, energy and even IT to that extent. We believe that the growth story of the world is at least a couple of years away in terms of the world booming back to growth. It is going to be an extended slowdown. False alarms will keep coming. We would rather stay cautious on the side lines.” What will happen to global sectors? Metal is a bet on China. IT is a bet on the US. Manufacturing is a bet on Europe. What happens there? Globally we are not very positive on what is happening in the US GDP data and all seems to keep surprising us. But if you look at the credit cycle that is happening there, people are revolving credit like there is no tomorrow. There is a slowdown in jobs. So, we believe that a slowdown is inevitable. Now, between a hard landing and soft landing, one could have probability factors but we do not think that there is a growth story in the world yet. We believe that the world is going to go through an extended period of slowdown. Europe will suffer a little more. So, we would tend to be underweight on external oriented sectors. This includes metals, energy and even IT to that extent. We believe that the growth story of the world is at least a couple of years away in terms of the world booming back to growth. It is going to be an extended slowdown. False alarms will keep coming. We would rather stay cautious on the side lines.

“Banking, cement, infra, paper, sugar, power and chemicals (as a contra bet) are some of the sectors where we still see reasonable valuations in some pockets,” says Jiten Parmar, Co-Founder, of Aurum Capital. In an interview with ETMarkets, Parmar said: “Many pockets look expensive. One has to look at individual stocks, for example, many stocks from defense, and railways do not have a margin of safety and are looking stretched,” Edited excerpts: Nifty hit 20200 levels and then we saw some bit of healthy profit-taking amid muted global cues. What is your take on markets for the medium to long term? For the medium term and long-term, I remain constructive on the markets. Indian economy is doing fairly well.

China Evergrande seeks to resume trading amid probe In an announcement made in August, the EV subsidiary stated its agreement to issue 6.18 billion new shares to the Dubai-based mobility company NWTN. The total consideration for this was HK$3.89 billion ($496.72 million), indicating a subscription price of HK$0.6297 per share. According to the filing on Sunday, trading in shares of the China Evergrande New Energy Vehicle Group, which had been suspended on September 28, is set to resume on Monday - October 9.

The Chinese central bank has claimed that its program of digital yuan giveaways is helping to drive up CBDC adoption.