China Financial News

Asian shares fell on Friday after Tesla and Netflix weighed on U.S. tech shares after their earnings reports, while the dollar and Treasury yields held their gains ahead of an action-packed week that could see the end of the U.S. tightening cycle.

China Nicholas Burns' email account in an espionage operation thought to have compromised at least hundreds of thousands of individual U.S. government emails, the Wall Street Journal (WSJ) reported on Thursday. Daniel Kritenbrink, the assistant secretary of state for East Asia, was also hacked in the wider spying operation disclosed earlier this month by Microsoft, the report said, citing people familiar with the matter.

Investing.com-- Gold prices rose on Friday and were headed for a positive week amid increasing bets that the Federal Reserve was close to ending its rate hike cycle, while copper prices rose as major importer China unveiled more stimulus measures. 

Investing.com-- Oil prices rose on Friday after wild swings through the week as markets weighed tightening supplies and uncertainty over demand, with focus now shifting squarely towards a Federal Reserve meeting next week. 

By Andrea Shalal

Chandrayaan-3' — India's moon mission is paving its way through the space towards Moon, neighbouring country Pakistan is still struggling with a dwindling economy, the huge pile of debt and religious extremism-fuelled politics. Qaisar Rashid in his piece in the Daily Times said that while India ticked one after the other boxes right from ISRO, focusing on IT to opting for a modern education system, Pakistan kept on struggling with its internal conflicts and orthodox education system.

foreign exchange reserves have surged to a nine-month high following a fresh financial bailout from the International Monetary Fund (IMF).  The country's reserves nearly doubled to $8.73 billion as of July 14, with inflows coming from the IMF and friendly nations like Saudi Arabia and the UAE. This is the highest reserve level since October when the central bank held $8.76 billion.

Chinese telecom operators are growing increasingly keen on digital yuan adoption, a report has claimed, as the CBDC finds new adoption strongholds.

WASHINGTON (Reuters) — U.S. Transportation Secretary Pete Buttigieg said on Thursday his agency has national security concerns about Chinese autonomous vehicle companies in the American market after some lawmakers called for restrictions on their operations.

By Arathy Somasekhar

By Anant Chandak

stock euphoria is spilling over to the rest of the world. Beaten-down shares of tech companies — from software and IT services providers to hardware manufacturers to ecommerce plays — are making a comeback across the word, as the headline-grabbing Wall Street rally in the US prompts a relook elsewhere. The MSCI Japan IT index has surged 36% so far this year, while the MSCI Taiwan and Europe IT indices have rallied 30% and 25%, respectively.

Yi Gang, the governor of the People’s Bank of China, revealed the milestone at a conference hosted by the Moneyary Authority of Singapore.As reported by Reuters, Yi Gang said the digital yuan has recorded over 950 million transactions, from 120 million wallets.Yi Gang told the conference: “You can see that right now, the balance of e-CNY is only counting two-tenths of 1% of M0, so that the balance is very small, but with this kind of balance (we) support a big number of transactions, which means that the velocity is high and more efficient.”The Chinese Government has made steady progress in seeding the digital currency across the country, with all banks and digital wallets from Alipay and WeChat onboard.

Investing.com — Down one day and up the next: The yo-yo trade in oil continues as Saudi production cut pledges are being mitigated by weak gasoline demand in the United States — despite the advent of summer travel, which typically sees a surge in fuel consumption.

Michael Moritz, the storied venture capitalist who sits on the boards of Stripe and Instacart, is leaving Sequoia Capital after 38 years, according to a letter sent to limited partners on Wednesday and viewed by Reuters. Moritz, 68, will now focus on Sequoia Heritage, a $15 billion wealth management fund that he helped launch in 2010. The fund will be independent from Sequoia Capital, with focus on a diversified range of assets, according to the letter.

By Timothy Gardner and Patricia Zengerle

New Delhi: India and Sri Lanka are expected to discuss economic connectivity and China during the visit of president Ranil Wickremesinghe starting on Friday. This is the Sri Lankan president’s first visit to India since taking office after his predecessor Gotabaya Rajapaksa was swept from power amid mass protests in 2022. Wickremesinghe’s visit comes even as his country continues to grapple with a protracted economic crisis with inflation soaring at 25.2%.

New Delhi: India is considering expanding its solar STAR-C initiative, run by the International Solar Alliance, to a number of Pacific Island countries, according to persons aware of the matter. The programme aims to boost solar power ecosystems in the poorest countries. In the Pacific, it currently runs in Tonga.

Authorities in China's Shanxi Province have arrested 21 individuals allegedly involved in a major Tether (USDT) money laundering scheme. 

By Laura Sanicola

China's ambassador to the United States says it does not want a trade war but will retaliate against any further U.S. restrictions on technology and trade