China Financial News

Maldives votes in a presidential runoff on Saturday that could drastically rebalance its relations with India and China, two regional giants competing for influence in the geopolitical hotspot. The atoll nation of nearly 1,200 coral islets is a prestige tourism hotspot and favourite beach holiday destination for the world's rich and famous. It also sits in a strategically vital position in the middle of the Indian Ocean, astride one of the world's busiest east-west shipping lanes. Frontrunner Mohamed Muizzu's party moved into Beijing's orbit while last in office and was an eager recipient of financial largesse from China's Belt and Road infrastructure programme. Muizzu, the 45-year-old mayor of Male, spearheaded the $200 million China-backed bridge linking the capital to the country's main airport while in the last government. He won just over 46 percent of the first round earlier this month while incumbent Ibrahim Mohamed Solih, who presided over the restoration of ties with traditional benefactor India, trailed at 39 percent. But with only 283,000 eligible voters, and barely 15,000 votes between the pair, former foreign minister Ahmed Shaheed told AFP the contest was on a knife's edge. «The mood in the Maldives suggests that the two candidates are narrowing their gap,» Shaheed said. «This is going to be a very, very close race.» Solih won office in 2018 on the back of discontent with his autocratic predecessor Abdullah Yameen, an ally of Muizzu's who is now serving an 11-year prison sentence for corruption. He had accused Yameen of pushing the country into a Chinese debt trap by borrowing heavily for infrastructure. Yameen's turn towards Beijing had alarmed New Delhi, which shares Western concern at China's

Siddhartha Khemka, V-P, Head of Research (Retail), MOFSL, says “within the ferrous space, JSW Steel is a preferred pick followed by SAIL. Hindalco in the non-ferrous space is something that we like. The market has shown some appetite for niche luxury properties. So, real estate will do well. Our preferred picks would be Oberoi Realty and Macrotech Developers.” What is your view on metals and Vedanta specifically because it is a high beta name?All these headlines regarding debt etc keep on circling around and impacting the stock price. What should a medium to long term investor do? Within the metal space, Vedanta has been very volatile. There have been continuous news flows or developments with regards to the company, with regards to the promoter and the promoter entity as was the case today. But if you look at it from the overall sector perspective, after having some pressure in the past couple of quarters, the companies have now taken price hikes in the last couple of weeks and that is helping to change the sentiment.

Investing.com-- Oil prices rose sharply in Asian trade on Thursday, with U.S. crude futures hitting an over one-year high on continued signs of tighter supply, while positive data from China also aided sentiment. 

By Selena Li

Investing.com-- Most Asian stocks drifted lower on Thursday, extending recent declines amid persistent fears of higher U.S. interest rates, while Chinese stocks fell on renewed concerns over the country’s beleaguered property market. 

London | Australia’s journey out of French President Emmanuel Macron’s diplomatic doghouse took another step forward on Thursday (AEST), as the two countries signed a pact to work more closely on supply chains for critical minerals.

Uday Kotak, Founder & Director of Kotak Mahindra Bank said on Thursday in a tweet. The billionaire businessman said that Evargrande has finally imploded while attributing the crisis to delays in action by Chinese policymakers. «Evergrande China finally implodes.

commodity exchange of India established in 2003 has made an official announcement in this regard and said that mock session ahead of the commodity derivative platform launch has been fixed on 2md October 2023. MCX made an announcement in regard to new commodity derivative platform launch citing, “In terms of the provisions of the Rules, Bye-Laws and Business Rules of the Exchange and in continuation of earlier circular no.

Hangzhou: The men's 10m air pistol team continued India's success story at the Asian Games here, winning gold with two marksmen also making it to the individual finals on Thursday. The team of Sarabjot Singh, Arjun Singh Cheema and Shiva Narwal narrowly beat the Chinese team to take the top podium and earn India its fourth gold medal from the shooting ranges.

Naorem Roshibina Devi signed off with a silver medal after a 0-2 defeat against local heavyweight Wu Xiaowei in the women's 60kg wushu sanda final at the Asian Games, here on Thursday. The Indian found the going tough against Wu Xiaowei, the reigning champions in the category, allowing the Chinese to get off to a strong start.

Melbourne-based fund manager Datt Capital is initiating a wider raise for its freshly minted Small Companies fund, after securing $25 million in early commitments from a mix of existing and new investors.

China’s Tencent, the operator of the WeChat and WeChat Pay platforms, will join central bank-led digital yuan and CBDC interoperability pilots.

«Markets saw some respite after the previous day’s sell-off but the pressure still continues given several concerns regarding rising interest rates, crude oil prices, and growth concerns in China,” said Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services. Here's breaking down the pre-market actions: STATE OF THE MARKETS GIFT Nifty (Earlier SGX Nifty) signals a positive start GIFT Nifty on the NSE IX traded higher by 14 points, or 0.07 per cent, at 19,838.5, signaling that Dalal Street was headed for positive start on Thursday.

shares of China Evergrande were suspended on Thursday after a report that its chairman had been placed under police surveillance, stoking concerns over the developer's future as it struggles with a growing threat of liquidation. The stock last closed at HK$0.32.

This Google Doodle is only visible for users based in Taiwan due to its limited reach. Teacher's Day in Taiwan is celebrated every year on September 28 to mark the birth anniversary of the great Chinese philosopher Confucius.

Apple expanding local manufacturing operations in India at the cost of China has triggered scores of reactions on social media platforms such as Weibo and X (formerly known as Twitter) questioning the quality of the latest iPhone 15s being made in the South Asian nation. Indian users and industry executives have, however, been quick to rebuff the comments, pointing to how the locally made devices were as good as any manufactured elsewhere. For the first time, India-made iPhone 15 and 15 Plus devices were made available on the first day of sale on September 22, along with China units, across the world, underlining the US smartphone maker's rapid expansion of its manufacturing operations in the world's second largest smartphone market. India is now easily the second largest assembler of iPhones globally. The launch of the latest India-made iPhones though sparked an adverse reaction in China, marked by social media posts and reactions on Chinese state media. One post on Weibo alleged that the India-made iPhone 15 units are being diverted to China after being rejected in Europe for having quality issues. State media in China denied claims of diversion.

Vedanta shares tumbled 6.9% in Wednesday's trading after rating firm Moody's downgraded the corporate family rating (CFR) of UK-based parent Vedanta Resources. Analysts said concerns over the group's debt burden and volatile metal prices due to global headwinds could weigh down the stock in the near term. The stock closed at ₹208.95 on the BSE on Wednesday, after hitting a 52-week low of ₹208. «Vedanta Resources has been struggling to refinance its upcoming debt maturities worth $2 billion maturing during the next year,» said Jayesh Bhanushali, lead-research at IIFL.

By Casey Hall and Sophie Yu

Reuters has reported. While attending a briefing of the State Department officials, he said officials told lawmakers that 60,000 emails were stolen from 10 different State Department accounts. Although the victims weren't named, all but one of them was working on East Asia and the Pacific, he said as quoted by Reuters.

Reuters, the circumstances surrounding the diplomatic efforts that facilitated King's transfer are not fully disclosed, but this incident represents a noteworthy instance of cooperation involving the United States, North Korea, and China. According to the State Department, King is anticipated to arrive back in the United States later today. At the age of 23, Travis King unexpectedly crossed into North Korea from South Korea on July 18 during a civilian visit to the heavily fortified border.

Nomura has upgraded its ratings on India to 'overweight' as it sees the recent 'softness' in the stock market driven by higher oil prices as an opportunity to raise bets here. The firm's top stock picks in India include ICICI Bank, Axis Bank, L&T, Reliance Industries, ITC, Medplus Health, and Uno Minda. «We see recent softness driven by higher oil prices as an opportunity to raise exposure,» said Nomura's analysts including Chetan Seth, Anshuman Agarwal, and Ankit Yadav in the firm's Asia strategy note to clients.