China Financial News

Why Is China Slowing? Is This India's Opportunity?...

'BlackRock believes that tiered pricing represents an appropriate way to share further scale benefits on eligible BFM funds to UK retail investors.'

China's Huawei Technologies has started presales for its high-end Mate 60 Pro+ smartphone, adding to its lineup of devices that have gained attention for the company's resilience against U.S. sanctions.

leadership of Prime Minister Narendra Modi and his mantra of "Sabka Sath, Sabka Vikas", and said the results show the people's "approval" to the developmental work carried out by the party's "double-engine" government in the state. "I extend my heartfelt gratitude to the people of Tripura for making the BJP victorious in the Boxanagar and Dhanpur assembly bye-elections," Home Minister Amit Shah said in a post on X. The victory in the bypolls will further strengthen "our determination" to transform Tripura into a prosperous state under the leadership of the prime minister, he added.

The recent reports about potential restrictions on government officials using Apple’s iPhones in China have caused a selloff in shares in recent days.

Investing.com — Apple (NASDAQ:AAPL) shares hug the flatline in premarket trading on Friday following a two-day skid sparked by reports that China is telling government officials not to use the California company's iPhone device for work. Elsewhere, two more Federal Reserve policymakers hint that the central bank may skip hiking interest rates at its September gathering, while U.S. Treasury Secretary Janet Yellen suggests that China's post-COVID economic woes may not have a «significant impact» on the United States.

HSBC Holdings Plc has made a u-turn on its dollar forecast, predicting the world’s reserve currency will now strengthen well into next year given weaker global economic prospects. 

Huawei Technologies.Bloomberg News previously reported that the South Korean chipmaker's DRAM — LPDDR5 — and NAND Flash memory are used in the Chinese tech company's latest smartphone Mate 60 Pro. SK hynix's memory products were «an isolated example of materials» the Chinese handset maker sourced from overseas, according to the report. «SK hynix no longer does business with Huawei since the introduction of the U.S. restrictions against the company and with regard to the issue, we started an investigation to find out more details,» the chipmaker said. «Also, SK hynix is strictly abiding by the U.S.

A look at the day ahead in U.S. and global markets from Mike Dolan

Hong Kong has entered the second phase of technical testing for China's digital yuan, expanding the trial to include more Hong Kong banks. 

By Sruthi Shankar

China's yuan finished the domestic session on Friday at its weakest since the global financial crisis, hit by capital outflow pressures as the economy struggles. A growing yield gap with other major economies, particularly the United States, has also put fresh pressure on the yuan and a number of other emerging currencies. The onshore yuan ended the domestic trading session at 7.3415 per dollar, its weakest close since Dec.26, 2007. The yuan, one of region's worst performing currencies, has lost 1.0% against the dollar so far this week and depreciated roughly 6.1% so far this year as the dollar climbed and China's post-pandemic recovery quickly lost steam. Analysts and traders expect the currency to face further selling pressure in the near term but expect losses will likely be measured. On Friday, the central bank again looked to be shoring up the currency by setting guidance through its daily fixing that was stronger than Reuters estimate. Prior to the market's opening, the People's Bank of China (PBOC) set the midpoint rate at 7.215 per U.S.

Joe Biden is en route to the G20 conference in New Delhi, India, where he is scheduled to hold discussions with Indian Prime Minister Narendra Modi and possibly meet with Saudi Crown Prince Mohammed bin Salman. The proposed multinational infrastructure deal holds significant strategic importance.

Ant Group, the owner of the world’s largest mobile payment platform, Alipay, revealed its new sub-brand under the name ZAN. The brand will focus on blockchain development and services for both institutional and individual Web3 developers. 

Investing.com-- Gold prices rose slightly from a 10-day low on Friday, taking some relief as the dollar retreated from a near six-month high, while weak data from Japan and fears of worsening U.S.-China tensions also drove some safe haven demand for the yellow metal.

By Emily Chow and Lewis Jackson

By David Lawder

TAIPEI (Reuters) — Taiwan's exports dropped for the 12th consecutive month in August but less sharply than expected, and may return to growth in September ahead of the year-end holiday shopping season, the finance ministry said on Friday.

G20 summit, contributing to deteriorating relations. India has also strengthened its defence ties with the US by joining the Quadrilateral Security Dialogue with Japan and Australia, aimed at countering China's growing influence, reported Bloomberg. India, under Prime Minister Narendra Modi's leadership, is reportedly studying potential responses to a hypothetical Chinese invasion of Taiwan, according to senior Indian government officials.

Motilal Oswal Financial Services expects this trend and the momentum in silver to continue, which could add another 15% over the next few quarters. Motilal Oswal expects silver prices to touch ₹85,000 in next 12 months. It continues to maintain its stance of ‘buy on dips.’ “After every major dip domestic silver prices have been seeing a range shift on the higher side and we expect this trend to continue.

championed by leaders across the region, went out of vogue after the Asian financial crisis of 1997. The idea that East and South-East Asia’s disciplined governments had a unique economic edge over the decadent West suddenly seemed less compelling. Today in prosperous East Asia a different facet of those ballyhooed values is looking even more parlous.