China Financial News

02.07 / 12:33

Citi Target Apple Tesla NVIDIA Micron TSLA week This week in tech: AI could face fresh U.S. regulations; Apple gets past $3T

By Louis Juricic and Sarina Isaacs

02.07 / 12:33

UPS Reuters NASDAQ COMPOSITE ADP week Top 5 things to watch in markets in the week ahead

Investing.com — Friday’s nonfarm payrolls report and Wednesday’s minutes of the Federal Reserve’s June meeting will be the highlights of a holiday-shortened week. The stock markets go into the second half with a tailwind after strong gains in the first six months of the year. The Reserve Bank of Australia is set to make its latest rate decision while PMI data from China is likely to underscore the need for more stimulus measures

02.07 / 12:17

UPS Action Gap NIFTY Ahead of Market: 10 things that will decide stock action on Monday

Here's how analysts read the market pulse:“The market's upward momentum was further supported by strong inflows from FIIs, the merger update of HDFC, and a narrowing current account deficit. Globally, investor confidence was uplifted by favourable revisions in US Q1 GDP, a decline in jobless claims, and positive outcomes from the US bank stress test conducted by the Fed,” Vinod Nair, Head of Research at Geojit Financial Services, said.

02.07 / 08:19

Citi Citizens Southern China complains to France after Chinese tourists hurt in riots

China's Consulate General in Marseille complained to France after a bus carrying a Chinese tour group in the southern city had its windows smashed leading to minor injuries, China's Consular Affairs Office said in a statement on Sunday. The Consulate General's formal complaint called for France to ensure the safety of Chinese citizens and their property, the statement said.

02.07 / 07:13

UPS Provident Manufacturing Strategy Apple Parke Leading Taiwanese firms looking at relocating production bases to India: Policymakers

technology firms are looking at relocating their manufacturing bases to India to bring down their exposure to the Chinese market, top policymakers in the Taiwan government have said, amid the self-governed island's increasingly tense relations with China. Deputy Minister for Taiwan's National Development Kao Shien-Quey said there is huge scope for collaboration between New Delhi and Taipei in areas of emerging and critical technologies including manufacturing of semiconductors and electronics equipment.

02.07 / 06:33

UPS Strategy Morningstar FPIs investment hits 10-month high of Rs 47,148 cr in Jun

US Federal Reserve, Mayank Mehraa, Smallcase manager and principal partner at financial consultancy Craving Alpha, said. Besides, VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said FPIs are likely to turn a bit cautious going forward as valuations in the country are rich from a short-term perspective. According to the data, FPIs invested a net sum of Rs 47,148 crore in Indian equities in June.

02.07 / 05:07

COST UPS Digital Racing global economy Charting the global economy: China's economic woes pile up, US consumer spending loses steam

inflation cooled in the US and quickened in Europe, according to the latest readings, while central bankers in both regions signaled they’re prepared to raise interest rates further. In China, where the economy was expected to stage a huge rebound this year, the problems just keep piling up. On top of weak consumer spending and a housing slump, holiday tourism moderated last month and industrial profits are still plunging. Here are some of the charts that appeared on Bloomberg this week on the latest developments in the global economy:

02.07 / 05:07

COST Citi Platform Pool NIFTY A $7.5 billion derivative trade shifts to India as SGX feud ends

SGX Nifty, the Singapore Exchange Ltd.-traded futures on India’s key equity NSE Nifty 50 Index, will be known as GIFT Nifty from July 3, and all outstanding orders will be transferred to the GIFT City, the new financial hub in the western Indian state of Gujarat. The switch from SGX to the NSE International Exchange at GIFT or Gujarat International Finance Tech-City also highlights partial success of the Prime Minister Narendra Modi-led administration’s attempts to attract India-centric trading that had moved to global financial centers such as Dubai, Mauritius and Singapore to its shores.

02.07 / 04:17

UPS Provident Progressive Pool POT Russia’s rusty oil tanker fleet sets sail with newer ships

Shortly after President Vladimir Putin’s invasion of Ukraine early last year, hundreds of aging tankers were snapped up by a cohort of faceless traders, intermediaries and investors to keep Russian oil flowing. By some estimates, the purchases, which added to vessels that were already transporting crude for Venezuela and Iran, created a more than 900-strong dark fleet. Now, the average age of the ships being purchased is declining, according to data from VesselsValue Ltd., a researcher of shipping deals.

02.07 / 04:17

Cooper Platform PM Modi to advocate startup culture at July 4 SCO Summit

Narendra Modi will advocate sharing best practices from the Indian Startup sector to promote innovation and business in the Eurasian region at next week’s Shanghai Cooperation Organisation (SCO) Summit. The PM has put special emphasis on promoting Startup culture through the SCO platform to encourage young entrepreneurs and boost the economy of the vast Eurasian region. Besides the PM, presidents of Russia, Belarus, China, Pakistan’s prime minister and other Central Asian leaders, would attend the SCO Summit virtually.

02.07 / 03:59

Adoption regulation Web3 Hong Kong establishes task force to advance Web3 development

As part of Hong Kong's ongoing commitment to embrace the "megatrend" of Web3 development, it has established a diverse group of industry and government officials to supervise the progress of Web3 in the region.

01.07 / 11:49

UPS Continental Deepak, Nishant, Parveen secure Asian Games berths; Amit Panghal, Nitu miss out

Deepak Bhoria (51kg) and Nishant Dev (71kg) were on Saturday named in the Indian men's boxing team for this year's Asian Games in Hangzhou, China after undergoing assessment. Parveen Hooda (57kg), the 2022 Worlds bronze medallist, Commonwealth Games bronze medallist Jaismine Lamboria (60kg), Arundhati Chaudhary and Preeti Pawar joined star boxers Nikhat Zareen (51kg) and Lovlina Borgohain (75kg) in the women's team for the continental event to be held from September 23 to October 8.

01.07 / 11:27

UPS Citi Lowe's Target Manufacturing China’s economic woes are multiplying — and Xi Jinping has no easy fix

Covid-19 controls, roared back to help power global growth. Instead, halfway through 2023, it’s facing a confluence of problems: Sluggish consumer spending, a crisis-ridden property market, flagging exports, record youth unemployment and towering local government debt. The impact of these strains is starting to reverberate around the globe, impacting everything from commodity prices to equity markets.

01.07 / 10:05

UPS Lowe's Target Manufacturing Yellow safe Gold remains vulnerable as safe-haven demand missing

Market participants keenly watched a panel discussion involving Federal Reserve Chair Powell, Bank of England Governor Bailey, ECB's President Lagarde and Bank of Japan's Governor Ueda wherein these leaders discussed the economy, interest rates and their respective outlooks. The key takeaways from their discussions and views are that except Bank of Japan, the rest of the three central bankers deem inflation to be way above their respective target levels. Inflation control is their priority and they will continue to remain hawkish to quell the inflationary pressure.

01.07 / 08:37

Lansdowne Cantonment Board proposes to rename town as Jaswantgarh

Lansdowne Cantonment Board has passed a proposal to rename Lansdowne town, a popular tourist spot in the Pauri district of Uttarakhand, as Jaswantgarh after the 1962 India-China war hero Jaswant Singh, sources said. A proposal to this effect was passed by the board earlier this week at a meeting chaired by its president Brigadier Vijay Mohan Chaudhary, they said.

01.07 / 05:49

Man Austrian artist Gustav Klint's painting fetches $108mn at London auction

Klimt sold Tuesday for 85.3 million pounds ($108.4 million), making it the most expensive artwork ever auctioned in Europe. 'Dame mit Facher' — Lady with a Fan — sold to a buyer in the room at Sotheby's in London after a 10-minute bidding war for a hammer price of 74 million pounds ($94.35 million). The higher final figure includes a charge on top of the sale price known as the buyer's premium.

01.07 / 04:39

UPS Lowe's Action NIFTY SENSEX Bulls on the Street: D-St indices scale fresh highs

Nifty closed above 19,000 and the Sensex settled above 64,000 for the first time, led by financials, automobiles and IT shares. The gauge of top 50 Indian companies hit a high of 19,201.70 before closing at 19,189.05, up 216.95 points or 1.14% from the previous close. The Sensex closed at 64,718.56, up 803.14 points or 1.26% from Wednesday's close, the biggest single-day gain since March 31.

01.07 / 04:39

debate EU leaders to pledge de-risk from China and debate what this means

European Union leaders are set on Friday to commit to reducing the bloc's dependence on China and debate how to strike the balance between "de-risking" and engaging in areas such as climate change. «This is the million euro question,» Latvian Prime Minister Krisjanis Karins told reporters on his arrival at the two-day summit in Brussels on Thursday. «We need to de-risk and that means being able to step back to some degree because geopolitically the apparently growing relationship between China and Russia is a potential problem for all of us,» he said.

01.07 / 04:39

CEO JPMorgan ICBC Boards of HDFC Bank, HDFC give nod to merger plan

HDFC and HDFC Bank Friday approved the merger between the two institutions, creating the world's fourth-biggest bank by market value behind bulge-bracket Wall Street lender JPMorgan, China's ICBC and Bank of America. The merger takes effect Saturday.

01.07 / 03:39

COST Provident FIVE Progressive Gap Mobile external debt Pakistan’s flawed external debt policy

Pakistan on policies to be supported by a Stand-By Arrangement (SBA) in providing USD 3 billion, the last minute rescue package for Islamabad’s acute balance of payment crisis. According to major global credit rating agencies Islamabad would be compelled to default on external borrowings without the IMF assistance. Surprisingly, Pak forex reserves are now below USD 3.5 billion, hardly sufficient for less than a month’s requirement for even essential imports.

30.06 / 20:57

Provident JPMorgan Chase ICBC HDFC Bank to be world’s fourth most valuable lender

HDFC Bank will be the fourth most valuable bank in the world in terms of market capitalisation after the merger with mortgage lender HDFC. According to Bloomberg data, the merged entity will have a market capitalisation of $172 billion, the most after JPMorgan Chase, Industrial and Commercial Bank of China (ICBC) and Bank of America.

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