China Financial News

«I would say that this deal was never in the making and nobody in the market expected it to go through because if you look at Foxconn’s history it is of broken promises that they made across various countries including US, Indonesia,» says Rakesh Arora, Go India Stocks.com.Now let us begin with the stock of Vedanta. It came as a bit of a surprise with respect to Foxconn walking out of the deal and now the question is — A) where will the Vedanta get the money from and secondly, what happens to the technology that they needed? Your take.I would say that this deal was never in the making and nobody in the market expected it to go through because if you look at Foxconn’s history it is of broken promises that they made across various countries including US, Indonesia. So, people were not very confident that Foxconn is a serious player.

inflation data due on Wednesday.  On Monday, rupee snapped four-day losing streak to end at 82.57 a dollar. Comments from US Federal Reserve officials that additional interest rate hikes were needed, also indicated the end to the US central bank's current monetary policy tightening cycle is getting close, Reuters reported.

Investing.com-- Gold prices moved little in Asian trade on Tuesday as investors awaited more cues on U.S. monetary policy and inflation this week, while copper ticked higher amid bets on more government spending in major importer China.

By David Lawder

Investing.com-- Oil prices rose in Asian trade on Tuesday, buoyed by the prospect of supply cuts in the world’s largest crude producers, while expectations of more stimulus measures in major importer China also helped support sentiment.

By Julie Zhu

Rep. Mike Lawler, R-N.Y., discusses U.S. tech titans attending the state dinner for India Prime Minister Narendra Modi and China's rising aggression.

US Federal Reserve to increase interest rates by 25 basis points this month. Meanwhile, several Fed officials said additional interest rate hikes are needed to bring down inflation that is still too high, but the end to the US central bank's current monetary policy tightening cycle is getting close, Reuters reported. Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — 11th July In Japan, Nikkei 225 gained 0.6% and the Topix rose 0.3%.

equity market is likely to open on a cautiously optimistic note on Tuesday following similar moves in Asian peers amid marginal gains in the US markets ahead of the key inflation data. Trends on GIFT Nifty also indicate a mildly positive start for the broader index. The Gift Nifty was trading 31 points, or 0.16%, higher at around 19,487.50 level.

«Now, to a large extent all of that holds good even now, nothing much has changed. It is just that valuations have increased quite rapidly,» says Venugopal Garre, MD, Bernstein.We have seen quite a bit of rally from March lows, almost a double-digit rally in Nifty already. Do you see it trending higher or a bit of consolidation is on the cards?Broadly if I look at the way we have been looking at the market, we sort of upgraded the equity view in the first week of April, perhaps that was a time when the market was closer to 17,000 Nifty.

«With Q1 result season starting this week, we expect stock-specific action in the market, starting with the technology sector. Also, monsoon-related stocks are likely to remain in momentum,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services. Option data suggests a broader trading range in between 19100 to 19700 zones while an immediate trading range in between 19200 to 19500 zones. Here's breaking down the pre-market actions:STATE OF THE MARKETSGIFT Nifty (Earlier SGX Nifty) signals a positive startGIFT Nifty on the NSE IX traded 29 points, or 0.15 per cent, higher at 19,485.50, signaling that Dalal Street was headed for positive start on Tuesday.

BEIJING — For foreign businesses in China, geopolitics hold more sway than new Chinese laws, according to analysts.

China a systemic rival. The development is a reflection of the end of a period of peace and stability in Europe seen since the end of the Cold War. In fact, Czech-China relations have witnessed significant changes since 2021.

MUMBAI : India is the top choice for debt investments among emerging markets (EMs) for sovereign wealth funds (SWFs) and central banks, a global survey by American fund manager Invesco Ltd has found. The survey, which polled 85 SWFs and 57 central banks managing a combined $21 trillion, found that India beat China in the EM debt sweepstakes. While the share of SWFs that found Chinese debt attractive fell from 71% in 2022 to 51% in 2023, those who found Indian debt attractive rose to 76% in 2023 from 66% in 2022.

2023 to become hottest year ever? Global temperature rises by 1.5 degrees Alarm bells had started ringing last week as sweltering heat blanketed much of the planet. On Thursday, the European Union's Copernicus Climate Change Service said on Thursday that June 2023 had smashed all previous records by a substantial margin.

inflation data, due to be released on Wednesday. The S&P 500 gained 3.89 points, or 0.09%, at 4,402.84. The Dow Jones Industrial Average rose 167.86 points, or 0.5%, at 33,902.74.

With the drainage system overwhelmed, roads were inundated with water at waist height and more. Most delivery services such as Swiggy, Zomato, Zepto, Blinkit and Milk Basket stopped taking orders as large clusters were unserviceable. Elsewhere, there were extended delays, said executives at ecommerce platforms, besides grocery and restaurant companies. «Our operations have been affected due to rains in some parts of the country. We hope to be back soon,» food delivery platform Zomato, which also owns instant grocery delivery platform Blinkit, tweeted on Sunday, in response to multiple consumer complaints. The monsoon has been lashing northern India over the past few days leading to deaths, landslides, property destruction and people rendered homeless.

Emerging Market debt, US asset manager Invesco said, confirming New Delhi's growing stature among large emerging economies competing for overseas fund flows into local fixed-income assets. The finding is part of Invesco's 11th annual edition on sovereign investors titled 'Invesco Global Sovereign Asset Management Study'.

Six members of the United States Congress have called on the U.S. Securities and Exchange Commission (SEC) and Department of Justice to investigate Prometheum, claiming the firm has ties to the Chinese Communist Party. 

By Gertrude Chavez-Dreyfuss

By Caroline Valetkevitch