China Financial News

global markets on Thursday, the US stocks were little changed ahead of the jobs data, while European equities gained as bond yields and oil prices declimed. MSCI's gauge of stocks across the globe was down 0.17%. Recently, global markets were hit due to hawkish comments from central banks and strong US economic data bolstering bets that interest rates will stay elevated for a longer period.

The troubled Hong Kong-based crypto exchange JPEX is embroiled in controversy over its recent asset lock-up plan as it seeks to transition into a decentralized autonomous organization (DAO).

Approximately 50% of crypto users are investing in digital assets to improve their everyday living standards.

By Marcelo Teixeira

Simone Biles led the US Women's team that won the Gymnastics World Championships for the seventh consecutive time. The US team of Simone Biles, Shilese Jones, Skye Blakely and Leanne Wong scored a total of 167.729 points to beat Brazil and France. They won by a margin of 2.199 points as the finals proved to be a close contest.

Japan’s wrecked Fukushima nuclear power plant says it has begun releasing a second batch of treated radioactive wastewater into the sea after the first round of discharges ended smoothly

The global economy has shown remarkable resilience but still bears deep scars from the coronavirus pandemic, the war in Ukraine and rising interest rates

broad-based slowdown. The projection is less than half the 1.7 percent increase forecasted in April, as per a release issued on October 5. The international trade body cited the inflation prevailing in the United States and Europe, the sluggish economic recovery in China and the continuing Russia-Ukraine war while projecting a grim forecast for this calendar year.

WASHINGTON—The Pentagon is poised to make controversial cuts to the Army’s storied special-operations forces, amid recruiting struggles and a shift in focus from Middle East counterterrorism operations to a threat from China. The Army is cutting about 3,000 troops, or about 10% from its special-operations ranks, which could include so-called trigger-pullers from the Green Beret commando units who have conducted some of the nation’s most dangerous and sensitive missions around the world, from the jungles of Vietnam to the back alleys of Baghdad. The reductions would enable the Army to rebalance toward the large conventional ground forces needed in a potential fight in Asia.

China is spending billions of dollars annually on foreign information manipulation efforts including through China-Pakistan Media Corridor and Beijing uses false or biased information to promote positive views of the country and the Chinese Communist Party (CCP) alleged a newly released US State Department Report. At the same time, China suppresses critical information that contradicts its desired narratives on issues such as Taiwan, its human rights practices, the South China Sea, its domestic economy, and international economic engagement, alleged the report titled ‘How the People’s Republic of China Seeks to Reshape the Global Information Environment.’ “More broadly, the PRC (People’s Republic of China) seeks to cultivate and uphold a global incentive structure that encourages foreign governments, elites, journalists, and civil society to accept its preferred narratives and avoid criticizing its conduct,” the State Department report claimed.

Vietnamese electric car maker VinFast said on Thursday its third-quarter revenues more than doubled as it ramps up deliveries and partnerships with U.S. dealers, and that it would set up a plant in India as part of its expansion drive. The company said in a filing to U.S. securities regulators that it made $343 million in revenues for the three months ended Sept. 30, up 159% on the same period last year. Its net loss widened 33.7% to $623 million, however, as it continued to rack up expenses.

US trade deficit in August to the smallest since late 2020, according to government data released on Thursday. The trade gap shrank to $58.3 billion, down nearly 10 percent from July's revised figure of $64.7 billion, said the Commerce Department. Analysts had expected a smaller change in deficit and the latest numbers showed exports rose $4.1 billion to $256 billion in August. Imports slipped by $2.3 billion from July to $314.3 billion. While consumer spending has helped to boost US trade, analysts have warned that this could weaken following steep interest rate hikes by the central bank over the past year — aimed at lowering inflation and cooling demand. «Trade flows have slowed overall,» economist Rubeela Farooqi of High Frequency Economics told AFP. «But quarter-to-date, exports are up and imports are down, suggesting some softening in domestic demand,» she added. The labor market remains strong and households are still spending.

Ritu Vohora of T. Rowe Price

GENEVA (Reuters) — The World Trade Organization halved its growth forecast for global goods trade this year, saying that persistent inflation, higher interest rates, a strained Chinese property market and the war in Ukraine had cast a shadow over its outlook.

Global headwinds and expensive stock valuations necessitate a cautious approach toward Indian equities in the short term as the country prepares for next year’s national elections, according to Goldman Sachs Group Inc.

Citigroup Inc. raised its growth forecast for China to 5% this year, as promising data helps build consensus around the nation’s ability to achieve its official government target.

India endured a forgettable 0-4 drubbing at the hands of China in the women's hockey semifinals, a result that not only pushed the team out of the gold medal race but also denied it a direct entry to the Paris Olympics. Last edition's silver medallist India, the highest-ranked team in the tournament at world number seven, was no match to world number China, who were the bronze medallist in 2018 in Jakarta. Jiaqi Zhong (25th minute), Meirong Zou (40th), Meiyu Liang (55th) and Bingfeng Gu (60th) scored the goals for China.

rupee closed little changed on Thursday as both weakness and subsequent recovery in the dollar index failed to budge the local unit out of the narrow trading range it has been stuck in this week. The Reserve Bank of India (RBI) has been intermittently selling U.S. dollars in the non-deliverable forwards, spot, and near-forwards markets to ensure the rupee does not breach the lifetime low of 83.29 hit in October 2022. «It's their zone,» a foreign exchange trader at a private bank said, referring to the RBI's multiple interventions around the 83.24-25 levels in recent sessions. The rupee closed at 83.25 against the U.S.

Referring to the company's logistics center at the cargo airport in the city of Liege, the security service said it was working to detect «possible espionage or interference activities» by Chinese entities including Alibaba, the newspaper said.

Hong Kong Exchanges and Clearing Limited (HKEX), which operates a range of equity, commodity, fixed income, and currency markets, has unveiled an equities settlement acceleration platform called "Synapse." 

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