City Shanghai Financial News

slowdown among Chinese shoppers have dogged the luxury industry for the better part of a year. Last week the scale of the problem hit home for one of fashion’s biggest but most exposed brands, Gucci. French group Kering SA saw $9 billion wiped off its market value after warning that sales of the Italian label’s products in China have slumped this quarter. The slowdown is also starting to show up in other corners of the luxury industry.

Tesla (NASDAQ:TSLA) has reportedly scaled back its electric vehicle (EV) production in China as it faces slower growth in the sales of new-energy vehicles and increased competition in the world's largest car market.

Investing.com-- Shares of SMIC sank on Friday, leading declines across major Chinese technology firms after the Biden administration suggested that China’s biggest chipmaker may have flouted U.S. export curbs to produce a new chip for a flagship Huawei phone. 

SHANGHAI (Reuters) -China's yuan declined to a four-month low against the dollar on Friday, breaching a key threshold and prompting state-owned banks to step in to defend the currency.

Investors’ wealth jumped Rs 5.72 lakh crore on Thursday as markets soared nearly 1 per cent in tandem with a rally in global equities after the US Fed projected three rate cuts this year. The 30-share BSE Sensex jumped 539.50 points or 0.75 per cent to settle at 72,641.19. During the day, it zoomed 780.77 points or 1.08 per cent to 72,882.46. The market capitalisation of BSE-listed firms went up by Rs 5,72,752.79 crore to Rs 3,79,85,669.12 crore (USD 4.57 trillion).

Hong Kong’s central bank cautioned the public Wednesday about schemes falsely claiming association with its e-HKD pilot projects. The warning comes as Hong Kong explores the potential of a central bank digital currency through various trial projects.

By Selena Li and Brenda Goh

Asian shares have closed mostly higher while European markets opened lower as investors awaited the latest signals from the Federal Reserve on the timing of cuts to interest rates

By Stella Qiu

Troubled property developer China Evergrande Holding says Beijing's stock watchdog has fined it 4.2 billion yuan ($333.4 million) for allegedly falsifying its revenue, among other allegations

fasting, a popular strategy to lose weight by limiting food intake to certain times, was called into question by a surprise finding from research presented at a medical meeting. Limiting mealtimes to a period of just eight hours a day was linked to a 91% increase in risk of death from heart disease in the study, which was released on Monday in Chicago. The American Heart Association published only an abstract, leaving scientists speculating about details of the study protocol. The study was reviewed by other experts prior to its release, according to the AHA. Lifestyle interventions aimed at weight loss have come under scrutiny as a new generation of drugs help people shed pounds. Some doctors questioned the study’s findings, saying they could have been skewed by differences — such as underlying heart health — between the fasting patients and the comparison group, whose members consumed food over a daily period of 12 to 16 hours. “Time-restricted eating is popular as a means of reducing calorie intake,” Keith Frayn, emeritus professor of human metabolism at the University of Oxford, said in a statement to the UK Science Media Center. “This work is very important in showing that we need long-term studies on the effects of this practice. But this abstract leaves many questions unanswered.”

SHANGHAI (Reuters) — A record-breaking rally in Chinese sovereign debt is hitting a fever pitch in another sign China's financial system is low on confidence and overflowing with cash and bank deposits.

Asian stocks are higher ahead of policy decisions this week by Japan's central bank and the Federal Reserve

Asian stocks have advanced and European markets started the day with gains ahead of policy decisions this week by Japan’s central bank and the Federal Reserve

Shares have retreated in Europe and Asia after a mixed batch of data on the U.S. economy dashed hopes that easier interest rates are coming soon

By Liangping Gao and Ryan Woo

China stocks slide after the overnight United States inflation report

Shares are mostly higher in Asia ahead of a report on inflation in the U.S. that could sway the Federal Reserve's timing on cutting interest rates

Chinese-made cargo cranes that have been flagged as a security concern by an ongoing congressional probe in the United States are widely deployed throughout Canada’s ports.

China’s Shandong Province has introduced a digital yuan loan program for entrepreneurs, a step towards integrating digital currency in regional business practices.

(Reuters) -Bitcoin is back in the headlines, having roared to a new record high, just as many of the world's major central banks are starting to pave the way towards cutting interest rates, but only if inflation behaves.