China Financial News

earthquake of magnitude 5.2 on the Richter scale hit Assam and Meghalaya on Monday.

(Reuters) -China Evergrande Group said on Monday it has applied to the Hong Kong Stock Exchange for trading in its shares to resume on Tuesday, adding there is currently no other inside information related to the company that needs to be disclosed.

US stock futures rose and Treasuries fell after a deal was reached on the weekend to avoid an American government shutdown. Traders are waiting to hear remarks from Federal Reserve Chief Jerome Powell later Monday.

An official Chinese survey says the country's factory activity has recorded its first expansion in six months

Shares are mostly lower in Europe and Asia even after the U.S. Congress averted a U.S. government shutdown

Indonesian President Joko Widodo has inaugurated Southeast Asia’s first high-speed railway, which begins its commercial operations on Monday, a key project under China’s Belt and Road infrastructure initiative that will drastically cut the travel time ...

Investing.com -- Futures faltered on Monday, paring back some earlier gains, after last-minute negotiations between lawmakers on Capitol Hill over the weekend led to a surprise short-term funding deal that averted a U.S. government shutdown. Elsewhere, UAW workers and Mack Trucks forge an agreement to avoid a strike, while the World Bank cuts its growth forecast for China's economy next year.

By Marc Jones

By Rae Wee

The third quarter was a story of dashed hopes in emerging markets, with the unraveling of some of the most profitable trades in the asset class.

sepaktakraw at the Asian Games on Monday. The men's side thrashed Singapore 2-0 (21-7, 21-15) in just 38 minutes before beating Philippines 2-0 (21-16, 21-15) at the Jinhua Sports Centre Gymnasium.

Jack Kong, former chairman of China-based computer hardware manufacturer Canaan, has disclosed a hack of a cryptocurrency project that he has invested in.

Also read: Amid India-Canada row, Elon Musk accuses Canadian PM Justin Trudeau of ‘crushing free speech’ But a senior government official told Reuters that New Delhi has not instructed importers to refrain from purchases. Besides, an official with the Canadian Global Affairs Department said that Canada is also not taking any action that would directly affect trade with India.

World Bank has maintained its forecast for China's 2023 economic growth at 5.1%, in line with its previous estimate in April, but trimmed its prediction for 2024 to 4.4% from 4.8%, citing the persistent weakness of its property sector. For East Asia and the Pacific including China, the bank slightly trimmed its 2023 gross domestic product growth forecast to 5.0% from its prior 5.1% estimate, the World Bank said in its semi-annual regional update released on Sunday. For 2024, the bank lowered its regional outlook to 4.5% growth from 4.8%, dragged down by external factors including a sluggish global economy, high interest rates and trade protectionism. «Almost 3,000 new restrictions were imposed on global trade in 2022, three times as large as those in 2019,» the World Bank said. For China, the bounce back from the reopening of the economy following three years of ultra-stringent zero-COVID policies has faded, and elevated debt and weakness in its property sector are weighing on growth, the World Bank said in the report. After months of mostly dismal data, the world's second-largest economy has started to show signs of stabilisation. China's factory activity expanded for the first time in six months in September, an official survey showed on Saturday. Initial signs of improvement had emerged in August, with factory production and retail sales growth accelerating while declines of exports and imports narrowed and deflationary pressures eased.

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China will back firms in the smart vehicle supply chain to form groups dedicated to spreading innovation, state media said on Monday, as it races to hammer out standards for assisted and autonomous driving functions by 2025. The world's largest auto market, which set the target for such standards in July, has made so-called intelligent connected vehicles (ICVs) a long-term strategic focus in a drive to become the leading global player in the still nascent industry.

Also Read: Asian markets mixed as China’s factory activity expands, US govt shutdown averts; dollar gains China’s GDP growth estimates for next year have been cut to 4.4% from the 4.8% previously projected. “In 2024, improving external conditions will help growth in the rest of the region but persistent domestic difficulties in China – the fading of the bounce back from the re-opening of the economy, elevated debt, and weakness in the property sector, structural factors such as aging – will weigh on growth in China, slowing it to 4.4% in 2024," World Bank said.

Read here: US Congress passes bill to fund govt for 45 days, averts shutdown Japan’s Nikkei 225 gained 0.68%, while the Topix rose 0.45%. Chinese markets are closed for the Golden Week holiday. Stock markets in South Korea and Hong Kong are also shut for holidays.

Indonesia is preparing to launch Southeast Asia’s first high-speed railway, a key project under China’s Belt and Road infrastructure initiative

An official Chinese survey says the country's factory activity has recorded its first expansion in six months

Maldives President-elect Mohammed Muizzu may give India a headache in its southern neighbourhood in the backdrop of his pro-China leanings and «India out» campaign. However, the new Maldivian President may not be able to push out India's footprints from the archipelago given the historical development partnership and New Delhi's role as the first responder in a crisis. Muizzu was the proxy candidate for jailed former president Abdullah Yameen and may revive China's footprints in Maldives, according to Maldives watchers.