China Financial News

Investing.com -- U.S. stock futures pointed to a mixed open for equities on Wall Street, as investors examine how recent services sector data and a closely-watched Federal Reserve survey could impact the central bank's monetary policy. Elsewhere, China's exports contract in August in a sign of mounting pressure on the manufacturing industry in the world's second biggest economy, while a report that Beijing is barring government officials from using iPhones at work weighed on Apple (NASDAQ:AAPL) shares.

Check out the companies making headlines in premarket trading Thursday.

Congress on Thursday took a swipe at the government over the heads of state of Russia and China not coming for the G20 Summit, saying their absence raises a lot of questions which External Affairs Minister S Jaishankar should answer.

India towards a higher 8% growth, which will help overtake China as the biggest contributor to global growth, according to the latest Barclays research. “India is set to remain the fastest-growing major economy for some time. However, post general elections, the policy may tilt towards even faster economic expansion… targeting 8% could see it overtake China as the biggest contributor to global growth,” said Rahul Bajoria, Head of EM Asia (ex-China) Economics, Barclays. The study pointed out that India is likely to become an $8 trillion economy by 2030 if it achieves a higher growth rate, compared with the $6.6 estimated at 6.1% growth by the IMF.

Stocks declined, while Treasury yields climbed after a stronger-than-estimated reading on the US services industry bolstered speculation the Federal Reserve will keep interest rates higher for longer.

The dollar’s recent strength has confounded naysayers, and according to some hedge funds, the rally isn’t over.

Shares are lower in Europe and Asia after China reported that its exports fell for a fourth straight month in August, adding to pressures on its slowing economy

Australia and China have started their first high-level dialogue in three years in a sign of a slight thaw to relations between countries that have clashed on human rights, COVID-19 and trade

China's exports slide 8.8% in August at lower rate than expected, even as economy remains under pressure

Chinese Premier Li Qiang has taken a test ride on Southeast Asia’s first high-speed railway, which connects two Indonesian cities as part of China’s Belt and Road infrastructure initiative

Chinese exports and imports both fell in August, reflecting tepid global demand that is adding to pressures on its slowing economy

Shares are lower in Asia after a decline on Wall Street, where strong economic data revived worries that the Federal Reserve might keep interest rates high for longer than hoped

Treasury Secretary Janet Yellen is facing growing skepticism from some leading rich and developing nations as the residual impact of sanctions against Russia is deepening divisions among the Group of 20 countries

China on Thursday expressed its support for the inclusion of the African Union (AU) in the G20, saying it is the «first country to explicitly support» the inclusion of the African bloc in the grouping. In a recent interview with PTI, Prime Minister Narendra Modi said India backs the inclusion of the African Union as a full member of the Group of 20 largest economies as no plan for the future of the planet can be successful without the representation and recognition of all voices. «China is the first country to explicitly voice support for the AU's accession to G20,» Chinese Foreign Ministry spokesperson Mao Ning told a media briefing here while replying to a question about reports that AU will be admitted to G20 at the New Delhi summit to be held on September 9-10. «At the recent China-Africa leaders dialogue, President Xi Jinping once again stressed that China actively supports the full membership of AU in the G20,» said. Mao said China and AU are important partners in building high-level commentary with a shared future and safeguarding international equity and justice. «We support the AU in playing a bigger role in global governance,» she said. In the last few years, India has been positioning itself as a leading voice, flagging concerns, challenges and aspirations of the Global South or the developing nations, especially the African continent. Prime Minister Modi has been leading from the front on the issue of the African Union's membership of the G20.

COVID-19 pandemic. His remarks come amidst growing concerns over China's assertive actions in territorial disputes, which were highlighted by Beijing's release of a controversial map claiming territories of other nations as part of China. India, Japan, Indonesia, Malaysia, the Philippines, Vietnam and Taiwan have protested against the Chinese map.

Jonathan Schiessl, Deputy CIO, Westminster Asset Management, says “China looks very cheap compared to India. And some of the other markets in the region, be they developed markets like Japan, look quite attractive as well. I think India will continue to do well. We still very much like India, particularly on the medium to longer term basis. But, yes, in the short term, it has obviously recovered, had a good run, and looks a little bit expensive compared to some other markets.”PSUs were not the most favoured stocks till about three-odd years back, but in the last three years, the game has completely changed. Some of these stocks are even looking overheated at these levels. Within the PSU pack, do you have any favourites? What do you make of the rally that one is seeing in the government-owned entities?It is not surprising. Clearly the indices have done pretty well and they were looking fairly good value and under-owned. Personally, we tend to steer away from most of the PSU stocks. We tend to focus on other segments of the market. So it is not a part of the market that we chase. But yes, there are some pretty decent ones out there. Some of the oil and gas ones look quite interesting. But generally speaking, we tend to focus on the private sector rather than public sector stocks.

Indian rupee ended at a record closing low on Thursday, despite the central bank's likely intervention, as elevated U.S. treasury yields and weakness in other Asian currencies weighed on the local unit. The rupee ended at 83.21 against the U.S.

The Wall Street Journal. The move has been initiated in sensitive departments to government-backed agencies and state companies, instructing staff not to bring their iPhones to work. Apart from this, Beijing intends to extend that restriction far more broadly to a plethora of state-owned enterprises and other government-controlled organizations.

Mint takes a look at the issue. A joint declaration or a joint communique at the end of a formal summit is usually standard diplomatic practice. It seeks to show a unified front and some level of agreement on key issues.

map," China has been questioned by various countries with many of them lodging protests against the nation. Japan is the latest country to join the others in rejecting Beijing's map. According to Matsuno Hirokazu, chief cabinet secretary of Japan, the map's description of the Senkaku Islands is based on Beijing's claims. Hirokazu said the islands are unquestionably an «inherent part» of Japan's territory, in terms of both history and international law, according to Japanese public broadcaster, NHK World. He said that Japan has lodged a strong protest with Beijing via diplomatic channels and has demanded an immediate retraction of the description on the map. However, a Chinese foreign ministry spokesperson dismissed the Japanese government's protest over a description of Japan's Senkaku Islands in a new map released by Beijing, according to NHK. Notably, Japan controls the islands.

China plans to expand a ban on the use of iPhones in sensitive departments to government-backed agencies and state companies, a sign of growing challenges for Apple Inc. in its biggest foreign market and global production base. Several agencies have begun instructing staff not to bring their iPhones to work, people familiar with the matter said, affirming a previous report from the Wall Street Journal.