China Financial News

TikTok, the hugely popular video-sharing app that some in both parties allege is a potential spy mechanism for China. But entrepreneur Vivek Ramaswamy recently became the first 2024 candidate to join the platform, which says it has over 150 million U.S. users. That's even as he's accused Beijing of pushing TikTok as "digital fentanyl" to Americans and wants the app banned entirely.

Also read: ‘Empty houses everywhere': Former Chinese official's rare public critique on China's economy Evergrande's main domestic unit, Hengda Real Estate Group, said in a Shenzhen stock exchange filing late on Monday it had failed to pay the principal and interest for a 4 billion yuan ($547 million) bond that was due by 25 September. (Exciting news! Mint is now on WhatsApp Channels: Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) Hengda said it will actively negotiate with bondholders in a bid to reach a solution as soon as possible while working to resolve the debt risks and safeguard creditors' rights and interests.

China appears to woo the `Global South’ following the success of India’s G20 Summit where New Delhi gave leadership to the ‘Global South’. The Indian government is today at the forefront of providing leadership to the Global South and New Delhi’s leadership has been acknowledged globally. China has become hyper-active about the Global South and related developments.

Philippines said on Tuesday there were no signs of a standoff at a fiercely contested, China-held shoal in the South China Sea, a day after its coastguard severed a floating barrier installed by Beijing to block its fishermen. China's coastguard had even removed remnants of the ball-buoy barrier from the Scarborough Shoal, a Philippine coastguard spokesperson said, adding Beijing was measured in its response to the presence of the vessel, which reached its closest point to the strategic atoll since China seized it in 2012. With coastguard personnel posing as fishermen in a small boat, the Philippines said on Monday it executed a «special operation» to cut the 300-m (980-ft) barrier at the shoal, one of Asia's most contested maritime features, a move that could further strain ties that have deteriorated in the past year. Coastguard spokesperson Commodore Jay Tarriela said four Chinese vessels were in the area when a Philippine ship approached and were «not that aggressive», adding it was clear media were on board the Philippine ship. The Chinese took away the barrier, a few hours after discovering it was no longer aligned and blocking the lagoon, Tarriela told DWPM radio. «They might still return the floating barrier once again, they might still do shadowing and dangerous maneouvres once again,» he told CNN Philippines, adding that the Philippines «will not back down» and will maintain its presence in the sea.

told CNBC that SoftBank’s holding in Arm was a red flag – that he would want to avoid whatever SoftBank tells him to buy, and that it didn’t “have a soft touch when it comes to building businesses". Data shows why prudent investors are exercising caution. Several of SoftBank’s high-profile IPOs are currently yielding negative returns: Chinese ride-hailing company DiDi Global, valued at $63 billion, is down 77% from its offer price, and artificial intelligence (AI) software provider SenseTime is down 64%.

US Polls 2024: Vivek Ramaswamy's Silicon Valley fundraiser dinner to cost ₹41 lakh per ticket. More details here Indian Americans account for around 2.1 million or around 16 percent of the 13.4 million Asian Americans eligible to vote and are the third largest Asian-origin population behind Chinese and Filipino Americans, reported New York Times.

BEIJING — Europe has launched an investigation into Chinese electric vehicle subsidies, but no assumptions should be made about the probe's outcome, the head of trade for the European bloc's executive branch said Tuesday.

China is willing to play a «constructive» role in the success of the Asia-Pacific Economic Cooperation (APEC) summit in San Francisco, its top diplomat said on Tuesday, after President Xi Jinping's absence at the annual Group of 20 summit in India. «As the world's largest developing country and an important member of APEC, China is willing to comply with the expectations of the international community and play a constructive role in the success of APEC this year,» said Chinese Foreign Minister Wang Yi. Xi, with no official explanation, did not go to the G20 summit in New Delhi this month, with the Chinese premier, Li Qiang, attending in his place. That prompted the United States to say China was «giving up» on the G20 and was building an alternative world order. «Of course, we and all parties hope that the United States will recognise its responsibility as the host, demonstrate openness, fairness, inclusiveness, and responsibility, and create better conditions for the smooth holding of the meeting,» Wang said at a news conference, when asked whether Xi would attend APEC. Dialogue between China and the United States has been gradually resuming despite tensions between the two superpowers, especially over Taiwan.

CNBC-TV18, Dimon said that India and the United States are emerging as natural partners amid the global changes. Also Read: US issues record number of visas to Indian students amid India-Canada row; 25% given to India He pointed out that India and the United States have a distinct and special relationship, and they should take advantage of the opportunity to enhance their economic connections even more.

Investing.com-- Most Asian currencies fell slightly on Tuesday, while the dollar steadied at its highest levels for the year on growing bets that U.S. interest rates will rise further this year.

Reliance Industries and L&T were offset by banking and IT stocks The Nifty 50 was up 10 points, or 0.05% at 19,684 as of 9:20 a.m., while the S&P BSE Sensex rose 11 points, or 0.02% to 65,958. From the Sensex stocks, Tata Steel, L&T, UltraTech Cement, and Titan opened in the green, while TCS, Asian Paints, Kotak Bank, and Axis Bank opened in the red.Strides Pharma Science shares fell over 3% after the firm approved the demerger of CDMO business into Stelis Biopharma. Century Textiles & Industries shares rose over 4% after its arm Birla Estates launched a residential project in Bengaluru. The project is expected to have a revenue potential of Rs 3000 crore. On the sectoral front, Nifty IT declined 0.55%, and Nifty Financial Services fell 0.28%.

Check all the latest updates here.Indian tennis player Ankita Raina secures victory in straight sets (6-1, 6-2) against Adithya Patali Karunaratne from Hong Kong China in the Round 3 of the Women's Singles event.In Heat 1 of the men's 4x100m medley, India secured the second position with a time of 3 minutes and 40.84 seconds. The team consisted of Srihari Nataraj, Likith Selvaraj Prema, Sajan Prakash, and Tanish George Mathew.The top 8 athletes from both heats will advance to the final round.India have made its mark at the Asian Games 2023, excelling in specific sports that brought a total of 11 medals for the country.

Strike threat looms: Ford, GM and Stellantis remain at odds with UAW demands TR Reid, a Ford spokesman while making the announcement said, “We’re pausing work and limiting spending on construction on the Marshall project until we’re confident about our ability to competitively operate the plant…We haven’t made any final decisions about the plant investment there." The proposed plant by Ford near Marshall, Michigan was expected to employ around 2,500 workers and produce enough batteries to power around 400,000 electric vehicles a year. Ford had announced the Michigan plant in February this year as a way to diversify its battery profile from the nickel cobalt manganese (NCM) that are costly to produce owing to raw material scarcity.

Treasury yields scaled a fresh 16-year peak on Tuesday, underpinning the dollar near a 10-month summit, as investors responded to the message from the Federal Reserve and other major central banks of rates staying elevated for longer. Asia-Pacific stock benchmarks sagged along with gold, while crude oil continued to drift back from 10-month highs. The yield on 10-year Treasury notes rose to 4.552%, a level not seen since October 2007. The U.S. dollar index — which measures the currency against six major developed market peers, including the euro and yen — ticked up 0.05% to 106.00, after reaching 106.10 overnight for the first time since Nov.

Investing.com-- Most Asian stocks retreated on Tuesday as the prospect of higher U.S. rates weighed on the technology sector, while persistent concerns over a Chinese economic slowdown also kept investors wary of regional markets. 

NEW YORK (Reuters) -The board of the International Monetary Fund said on Monday it had completed a third review of Suriname's $630 million program, allowing the government of the South American country to withdraw about $52 million.

Investing.com-- Oil prices fell slightly in Asian trade on Tuesday amid growing fears that higher-for-longer U.S. interest rates will weigh on demand, while renewed concerns over China’s economy also dented sentiment.

equity indices ended flat as sentiment remained fragile on concerns of higher interest rates and faltering economic growth. “We expect weakness to persist in the market amid cautiousness ahead of the monthly F&O expiry this week and economic data like India’s Infrastructure Output for the month of August US and UK Q2 GDP data and US and China manufacturing PMI data to be released," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd. Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — September 26 Here are key domestic and global market cues for Sensex today" Asian markets were trading mostly lower on Tuesday as concerns about China’s property sector re-surfaced.

JPMorgan chairman and chief executive Jamie Dimon to face a crisis and bail out those who get into trouble. In an interview with MC Govardhana Rangan, Bodhisatva Ganguli and Joel Rebello, the go-to banker even for the US Federal Reserve said he expects that global financial metrics could get worse before getting better. When few thought the 10-year US bond yield would rise to 3%, Dimon was preparing for 5%, and he says he is now ready to face even 7% by way of risk-free rates.

global bond index and anticipation of more such announcements will likely bolster the rupee vis-a-vis its peers even as the probability of US interest rates remaining higher for longer theoretically dims the appeal of emerging market assets. While the Reserve Bank of India is likely to absorb some of the dollar inflows and ensure competitiveness of exports, the stable influx of overseas funds is seen providing the rupee a cushion against a multi-year ascent in US bond yields and hardening crude oil prices. Major dollar inflows on account of index inclusion are not expected for around six months but at a time when peer units such as the Chinese yuan and the Malaysian ringgit have been taking a beating against the greenback, the view on the rupee remains constructive. «The inclusion of India in one of the major global indices is a clear medium-term positive — both from the flows perspective and additional inflows which it can bring in if other index providers also include India,» said Anubhuti Sahay, Standard Chartered Bank's Head of South Asia Economic Research. Last week, JP Morgan said India would be included in its Government Bond Index Emerging Markets global index suite starting June 2024, a development that is expected to bring in over $20 billion of stable flows to India's sovereign bond market over two years. Following the move, traders hope for a similar announcement by the Bloomberg Global Aggregate Index. «Between March 2024 and March 2025, we expect $20-25 billion only on the JP Morgan inclusion.

Beijing/Shanghai: Huawei Technologies on Monday showcased a series of new products from a gold smartwatch to a smart car but disappointed viewers by not revealing more details about its new Mate 60 smartphone series, prompting an outpouring of complaints online. The event, held in a stadium and watched by millions online, was expected to see Huawei break its silence on the smartphone, which has been hailed by Chinese state media as a sign the firm had overcome U.S. sanctions that since 2019 has cut its access to advanced chipmaking tools and crippled its smartphone unit.