China Financial News

Gold prices firmed on Monday after a slower-than-expected U.S. job growth data knocked the dollar and bond yields off their recent highs, as investors brace for this week's inflation test that could influence the Federal Reserve's policy path. FUNDAMENTALS * Spot gold was steady at $1,942.33 per ounce by 0130 GMT, off an over three-week low hit in the last session.

dollar was on the back foot on Monday after a mixed U.S. jobs report provided little directional conviction and as market focus turned to inflation data from the world's two largest economies due this week. The U.S.

Oil prices extended gains on Monday to touch their highest levels since mid-April after top producers Saudi Arabia and Russia pledged to keep supplies down for another month to tighten global markets further and support prices. Brent crude futures rose 25 cents, or 0.3%, to $86.49 a barrel by 0023 GMT, while U.S. West Texas Intermediate crude was at $83.05 a barrel, up 23 cents, or 0.3%.

Barbie" movie might have a hard time finding an audience in China. It's an American film, when Chinese moviegoers' interest in, and government approval of, Hollywood movies is falling.

MSCI's broadest index of Asia-Pacific shares outside Japan were a fraction lower in thin trade, after losing 2.3% last week. Japan's Nikkei slipped 1.0% to test its July low. A summary of the last Bank of Japan meeting showed members felt making yield policy more flexible would help extend the life of its super-easy stimulus.

This week would be crucial for domestic markets as RBI is set to announce its interest rate decision. «Markets are likely to move in a broader range with some volatility. Interest-sensitive sectors are expected to remain in focus,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services. Option data suggests a broader trading range in between 19000 to 20000 zones while an immediate trading range in between 19200 to 19600 zones. Here's breaking down the pre-market actions:STATE OF THE MARKETSGIFT Nifty (Earlier SGX Nifty) signals a muted startGIFT Nifty on the NSE IX traded 8 points, or 0.04 per cent, higher at 19,596.50, signaling that Dalal Street was headed for muted start on Monday.

Investors in emerging markets are shifting to stocks from bonds as they prepare for the world after monetary tightening. There are early signs of a rotation under way, with equity benchmarks beating local-currency bonds since the beginning of July. And traders are already starting to chase the rally, with Bank of America Corp.

Gen Z consumers, or those between 15-26 years, are driving the fastest growth not only for categories such as fashion, sneakers, smartwatches and wearable devices, but also light spirits including seltzers, ale and gins, executives said. «We have seen a demand uptick of over 105% year-on-year in the first half of the year (January-June 2023) in the Gen Z fashion segment,» a spokesperson for fashion platform Myntra, which has over 8.6 million Gen Z consumers, said.

When battery-grade lithium prices descended into a bloodbath on the new Guangzhou Futures Exchange last month, it sent ripples through the Australian bourse, tearing chunks off the share prices of lithium miners and explorers.

Foreign buying of Japanese equities has exceeded that of Chinese peers for the first time since 2017, according to a Goldman Sachs Group Inc. report, which cited data for the first six months of the year. Long-only managers continued to sell stocks in China and Hong Kong on a net basis in July despite a sharp rally, while buying shares in Japan, strategists at Morgan Stanley wrote in a report last week.

Cryptocurrency exchange Huobi has seen outflows worth $64 million between Aug. 5-6, amidst ongoing rumors about its solvency and that Chinese authorities were investigating its executives. Outflows over the weekend resulted in the exchange's total value locked (TVL) falling to $2.5 billion at the time of writing, down from $3.09 on July 6.

(Reuters) — Record flooding struck Alaska's capital city on Saturday after a glacial dam outburst, destroying at least one structure and prompting city officials to issue evacuation orders for residents on one street.

LISBON (Reuters) — More than 1,100 firefighters and 14 water-carrying aircraft battled a wildfire in central Portugal's Castelo Branco area on Saturday as civil protection authorities said hot, windy conditions meant it could take days to put out.

debt markets, bigger gains will come from stocks. The macro backdrop is also tilting in favor of developing nations. Emerging economies are expected to expand almost three percentage points quicker than advanced nations over the next three years, led by China, albeit at a slower pace, and India.

By Boureima Balima

India returned to winning ways with a 5-0 victory over Malaysia in their Asian Champions Trophy match here on Sunday. The city's Karthi Selvam gave India the lead right at the end of the first quarter with his 15-minute field goal off a fine Harmanpreet Singh pass.Hardik Singh doubled the lead for the home team when he scored off a penalty corner in the beginning of the third quarter (32nd minute), putting the Malaysians under tremendous pressure.

GoI the benefit of the doubt. While upholding the letter of multilateral and bilateral agreements, the plan was, we argued, to push vendors to switch to China Plus One options quickly. Now, with the follow-up announcement that FTA partners like Japan and South Korea will not be spared, the whole import licensing issue shows up India in poor light, especially to its trading partners.

Nuh district Sunday razed some illegal structures including a hotel from where stones were allegedly pelted on a religious procession last week, even as a mahapanchayat was held in support of four men arrested over arson at a mosque and the death of its junior imam. Sunday was the fourth day of demolition drive after the communal flare-up in the district, with Deputy Commissioner Dhirender Khadgata saying a total of 162 illegally built permanent and 591 makeshift structures were razed and 57.5 acre land across 37 sites made encroachment-free.TMC leader and Rajya Sabha MP Saket Gokhale and some others, however, questioned the demolition drive alleging it targeted only a particular community.

China maintained that it took the necessary action to deter Philippine ships which were trespassing and carrying illegal building materials, news agency Reuters reported on Sunday. The report mentions that the incident took place close to the Second Thomas Shoal, which is referred to as Ayungin Shoal by Manila. The area is a submerged reef where a small number of its troops reside on an old US ship from World War Two that was deliberately grounded in 1999.

Investing.com — All eyes will be on the U.S. in the coming week as inflation data is released. GDP data out of the U.K. will show how the economy is holding up in the face of continued rate hikes. Data out of China could point to deflation risks in the world’s number two economy. Here’s what you need to know to start your week.

Investing.com — There are four more weeks to this year’s Labor Day — the timeline typically used to ascertain the peak for summer oil demand; typically, because oil demand itself is so dynamic that it can go any way any time of the year.