China Financial News

Helloworld shares were sharply higher on Monday after the travel agent said it had swung back to a profit and that it would continue growing earnings as international travel rebounds.

Tata Steel Ltd., India’s second-largest steel producer, is upbeat on prices as Chinese steel exports decline. Chief Executive Officer TV Narendran spoke to Bloomberg News in an interview on the sidelines of the B20 Summit in New Delhi. Demand in India remains strong, though Europe will take until next year to pick up, Narendran said. He expects a decision from the UK government ‘in weeks’ on a proposal to fund the transition to greener steel production. The shift to green steel in India will happen only after 2030, he said.

European shares opened higher on the final trading week of August, as traders weighed the prospect of higher interest rates from the U.S. Federal Reserve and looked ahead to upcoming economic data later in the week.

Terry Gou, who founded Apple supplier Foxconn, has announced that he will run as an independent candidate in Taiwan's presidential election, scheduled to take place in September this year. Gou pledged to fix ties with China and added, "I will definitely not allow Taiwan to become the next Ukraine". Gou criticised the ruling Democratic Progressive Party, saying its policies have “brought Taiwan into the risk of war" with China.

Pragyan, moving on the surface of the moon, is in a «race against time» and that the ISRO scientists are working to cover a maximum distance of the uncharted South pole through the six-wheeled rover. The scientist said that «real work» starts only after a soft landing on the moon's surface. India took a giant leap on August 23, as the Chandrayaan-3 lander module successfully landed on the moon’s South pole, making it the first country to have achieved the historic feat. The country became the fourth– after the US, China, and Russia – to have successfully landed on the moon’s surface. «On August 23, we achieved a soft landing on the lunar surface and Prime Minister Narendra Modi also interacted with scientists of ISRO to congratulate them. But, the real work started after rover Pragyan rolled out of the lander Vikram,» Desai said.

On the Comex, Gold futures were trading at $1,943.30 per troy ounce on Monday, up $1.80 or 3.40% while Silver futures were trading at $24.265, up $0.031 or 0.130%. Click to know more The DXY was trading down 0.09% at 104.07 against a basket of six top currencies, though the bias was slightly negative. The October Gold futures had ended with declines of Rs 117 per 10 grams while the September Silver futures closed marginally higher at Rs 73,627, up Rs 59 per kg. «Gold remained stable after a weekly increase, as top central bankers emphasised maintaining high-interest rates until inflation is controlled at the Jackson Hole event.

BEIJING — Chinese electric car company Xpeng said Monday it is buying Didi's smart electric car development business in an exchange of shares worth $744 million.

draw India closer. In June Narendra Modi, India’s prime minister, undertook a state visit to Washington, where he was feted by the White House, Congress and business leaders alike. Europe, too, has been trying to get cosier.

China lowers stamp duty on stock trades, tightens IPOs to woo investors Beijing's current move is aimed at giving a boost to market sentiment as the world's second-largest economy has been struggling in the wake of the Covid-19 pandemic. Earlier in August, China's central bank went for a smaller-than-expected cut in a key lending benchmark to boost economic recovery. However, the demand for a more robust policy response and hefty government spending is growing.

Hong Kong’s Financial Secretary, Paul Chan Mo-po has reiterated his support for blockchain technology, calling it the next wave of "breakthrough growth" in the digital technology industry in a recent blog post.

North Korea has apparently decided to reopen its border after more than three years of its tight virus curbs largely due to economic challenges from the closure, South Korea's Unification Ministry said on Monday. North Korea said Sunday it has allowed its citizens abroad to return home amid eased concerns about the Covid-19 pandemic and will put them under quarantine for a week, reports Yonhap News Agency. The decision marked the secretive regime making official the reopening of its border. «Due to its border closure, North Korea is presumed to have faced various economic difficulties, and there were probably many inconveniences as personnel exchanges were blocked,» Koo Byoung-sam, a spokesperson at the Ministry, told a regular press briefing. Still, the Ministry viewed the North's latest move as «limited border reopening,» as the North has only approved the return of its nationals abroad, without mentioning when it will allow entry by foreigners. With the latest decision, more North Korean diplomats, labourers and students staying in foreign nations are expected to return. There are also concerns that North Korean defectors in China could be forcibly repatriated to the North. The Unification Ministry voiced «grave concerns» about the possible repatriation of North Korean defectors who were arrested and detained in China. «We'd like to stress once again that such defectors should not be forcibly sent back to the North against their will.

the main treatment for infertility around the world. At least 12m people have been conceived in glassware. An IVF baby takes its first gulp of air roughly every 45 seconds.

real estate developer, Evergrande Group are bleeding in red as the stock plunged 87% in Hong Kong trading as they started trading for the first time in a year and a half. Over 99% of the share value of embattled Chinese developers has been lost in the past three years. On Monday, Evergrande's market value shrank to just HK$4.6 billion ($586 million) from a peak of more than $50 billion in 2017.

SYDNEY (Reuters) — New Zealand said on Monday it would cut its future budget allowances, reduce spending on consultants and for some government programmes citing a deterioration in the global economy, and particularly in its largest trading partner China.

KUALA LUMPUR (Reuters) — Malaysia will create a «special financial zone» in embattled Chinese developer Country Garden's $100 billion project in the Southeast Asian nation and offer incentives to attract investments, Prime Minister Anwar Ibrahim said.

Investing.com-- Most Asian currencies moved little on Monday as markets weighed hawkish yet somewhat reiterative comments on monetary policy from the Federal Reserve, while the dollar retained recent gains and came close to a three-month high.

By Florence Tan and Sudarshan Varadhan

It might look like Australia is pushing ahead with the transition to wind energy, but a major player in the market believes legislative red tape is slowing down the clean energy transition to a crawl.

Xpeng said it will acquire ride-hailing giant Didi's smart electric vehicle unit and the two companies will form a strategic partnership. Xpeng's shares surged around 16% in early Monday trade. As part of the deal, which could be worth as much as $744 million, Xpeng will launch an A-class model next year under a new brand, currently called MONA, aiming to expand in the mass-market segment. «Project 'MONA' will accelerate the Company's production and sales growth and help achieve greater economies of scale,» Xpeng said in a statement. Didi will support the launch by «providing access to its mobility market» and the two companies will explore strategic cooperation in a number of areas, including marketing, financial and insurance services. Didi will acquire around 3.25% of Xpeng shares under the deal, which could increase depending on whether production and sales targets are fulfilled.

Investing.com-- Most Asian stocks rose sharply on Monday, with Chinese shares in the lead after the country rolled out more measures to support its battered equity markets, while focus turned to key indicators from the world's largest economies this week.

Nifty, are likely to open higher Monday amid positive global cues. The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading flat at around 19,275 level as compared to the Nifty futures’ previous close of 19,223.60.