China Financial News

Many millions of Chinese tourists are expected to travel within their country, splurging on hotels, tours, attractions and meals in a boost to the economy during the 8-day autumn holiday period that began Friday

By Aditya Soni

By Robert Harvey

Investing.com -- Nike reported much better than expected fiscal first-quarter earnings that overshadowed a miss on revenue, pressured by weakness in North America and an economic slowdown in its key China market.

(Reuters) -Hong Kong's Cathay Pacific Airways (OTC:CPCAY) said on Friday it had purchased 32 Airbus A321-200neo aircraft from Airbus for a basic price of $4.66 billion.

China Evergrande Group wiped out international investors, roiled financial markets and left thousands of suppliers in the lurch. Yet it was the developer’s failure to pay households who invested in its wealth management products that may have provided the last straw for Chinese authorities.

China has no claim over Arunachal Pradesh as the state has always been part of India, Chief Minister Pema Khandu asserted on Friday. Referring to the recent denial of regular visa to three Wushu players from Arunachal Pradesh for the Asian Games in Hangzhou, he said China «unnecessary» tries to bring a «political angle» whenever there is an issue related to the border state. «China has no claim over Arunachal Pradesh.

Pakistan to fulfil its commitments under the IMF programme for the sake of economic continuity. In June, the IMF already agreed, in principle, to a nine-month Stand-by Arrangement worth about $3 billion with Pakistan. The finance minister also touched on the external financing gap.

Investing.com-- Gold prices moved little in Asian trade on Friday, hovering near a seven-month low hit earlier this week as markets awaited key U.S. inflation data, while copper prices rose amid bets that a week-long Chinese holiday will help perk up economic growth. 

By Kirsty Needham

Ramkumar Ramanathan and Saketh Myneni settled for the men's doubles silver medal at the Asian Games after being edged by Chinese Taipei's Hsu Yu-Hsiou and Jason Jung but India's hopes of winning a gold from the tennis courts is still alive with the mixed team reaching the title clash, here on Friday. The duo of Rohan Bopanna and Rutuja Bhosale outplayed the Chinese Taipei combine of Chan Hao-ching and Yu-Hsiou Hsu 6-1 6-3 in the mixed double semifinal. In the men's doubles event, the Taipei team was unseeded but both Hsu (182) and Jung (231) were better-ranked singles players and it showed in their ground strokes and the way they went about their business in a 6-4 6-4 victory against the second-seeded Indians in the title clash.

The Dawn newspaper reported that this information was part of a detailed policy statement issued by caretaker Finance Minister Shamshad Akhtar before the Senate Standing Committee on Finance and Revenue, presided over by Senator Saleem Mandviwalla in Islamabad on Thursday. She said the government was currently working on an economic revival plan that would be presented to the caretaker prime minister Anwar ul Haq Kakar soon and shared with the Senate Standing Committee on Finance.

an article that raised concerns about the risk management practices in the peer-to-peer (P2P) lending space in India. This is why I am compelled to remove all doubts about the robustness of the P2P lending space in India. Here are the reasons that makes the Indian P2P lending space unique and relatively safe for investors.

LAC) with China, according to officials who wished to remain anonymous. What makes this road indispensable is its invisibility from the LAC, enhancing its security. The new road, which will be used for the movement of soldiers, weapons and logistics to bolster the front lines, cannot be seen from across the LAC.

Ajay Bagga, market expert, says “PSU banks are still looking quite good. Talking about valuations, I would say India is quite moderately valued. The problem is the global macro. These higher for longer riskoff is affecting us. We have seen about six-seven weeks of FII outflows on a net basis. So that is a problem. It is a constraint on our market's ability to rise fast. But the domestic funds that are coming in, are providing a good support and those should win through.” Are you optimistic about the October series looking at the moving pieces? We are waiting for a couple of events to pass through. One is, of course, the looming US shutdown. Historically, it has not had much of an impact but the reports are that this could last for anything like a couple of weeks to four weeks. In 2018-2019, it went on for six weeks and it had a minor impact on the GDP. So let us get that through, especially given Monday is a holiday in India, we can wait that out. The other two concerns are: a)Chinese property loans that are standing at about 60 trillion Yuan. It is not a new problem, it is a three years old problem but the Chinese government has not been able to resolve it and now the position is that even quality real estate developers like Country Garden are facing a lot of issues of liquidity. So eventually the rescue package will come from the Chinese government which will be a trigger for the markets so you can position for that.

exports received a much-need boost on account of free trade agreements (FTAs) with UAE and Australia with shipments to both nations surging 9% in April-August period of the financial year 2023-24 even as overall engineering exports slipped during the period under review. Engineering exports to UAE in April-August period of FY24 increased 9% year-on-year to $2.24 billion. In the same period, engineering exports to Australia also jumped 9% year-on-year and stood at $596.14 million as compared to $548.62 in April-August period of FY23. Overall engineering exports in April-August period of 2023-24 dropped 4.55% to $44.62 billion as against $46.74 billion in April-August period of 2022-23. Notably, engineering exports to Russia surged 178% year-on-year to $568.41 million in April-August period of FY24.

Palak Gulia and Esha Singh powered to a gold-silver finish in 10m air pistol event for India at the Hangzhou Asian Games on Friday. 17-year-old Palak shot 242.1 in the finals for an Asian Games record to swell the country's tally in the sport to 17 — six of them gold.

Also Read: US agency files lawsuit against Tesla over alleged harassment of Black factory workers The sportswear maker also forecast a 100 basis point increase in second-quarter gross margins, following six consecutive quarters of declines, on the back of fewer planned markdowns and lower freight costs. The company maintained its annual forecasts and said it expected second-quarter revenue to be up slightly. Analysts had expected a 2.1% rise to $13.59 billion, according to LSEG data.

Asian shares eased away from their lowest levels in 10 months but were on course to clock their worst quarterly performance in a year as worries over elevated interest rates dragged on sentiment, while the dollar held strong. MSCI's broadest index of Asia-Pacific shares outside Japan was 0.59% higher but not far off the 10-month low it touched on Thursday.

equity offerings have more than quadrupled in value this year, with investors encouraged by a surge in the Nikkei stock index to a 33-year high and signs that Japanese firms have begun to manage their capital more efficiently. A tough 2022 for equity capital markets globally resulted in a backlog of fundraising deals. Japan has also benefitted from far lower interest rates than other countries, billionaire Warren Buffett's lifting of stakes in Japanese firms and a re-allocation of funds away from China amid tensions between Beijing and Washington. Proceeds from initial public offerings and secondary share and convertible bond issues soared 343% to $23.7 billion in the first nine months of the year, LSEG data showed.

Oil prices fell in early trade on Friday after a recent rally, as profit-taking and expectations of supply increases by Russia and Saudi Arabia outweighed forecasts of positive demand from China during its Golden Week holiday. Brent November futures which expire on Friday were down 21 cents to $95.17 per barrel. Brent December futures lost 10 cents to trade at $93.00 per barrel at 0055 GMT. U.S.