City Shanghai Financial News

By Jamie McGeever

Investing.com-- Most Asian stocks retreated on Tuesday, extending recent losses as persistent concerns over slowing economic growth and high U.S. interest rates largely offset a bigger-than-expected cut in China’s benchmark lending rate.

interest rate cut in China failed to excite investors jaded at the lack of bigger stimulus measures. China's five-year loan prime rate was lowered by 25 basis points to 3.90%, bigger than the five to 15 bp cuts forecast by economists. The Shanghai Composite, however, fell 0.7% in early trade and blue chips fell 0.6%.

European shares opened lower after a mixed session in Asia as Chinese markets reopened from a long Lunar New Year holiday

Top NFT news today, February 19, 2024: The Azuki collection is among the top performers per sales volume over the past 24 hours, Arcade announces an airdrop, and Yuga Labs acquires Proof.

Volkswagen is reviewing the future of its joint venture in the Xinjiang region of northwestern China and another German industrial giant is starting to sell its stakes there following new international scrutiny of forced labor by predominantly Muslim ethnic groups. Volkswagen said last week that it was in discussions with one of its main joint venture partners in China, the state-owned Shanghai Automotive Industry Corp., in the wake of allegations of human rights violations at their joint venture in Xinjiang.

By Sumeet Chatterjee, Engen Tham and Selena Li

Investing.com-- Hong Kong’s Hang Seng index shot up on Friday as traders piled into China-exposed stocks before the reopening of mainland markets after a week-long holiday next week.

China is set to revise its outdated Anti-Money-Laundering (AML) law in a bid to tackle the increasing risks associated with virtual assets.

By Nicoco Chan

Ava Labs started testing a new Avalanche upgrade proposal yesterday. Dubbed “Durango”, the upgrade went live on the Fuji testnet at 4PM UTC.

shares on Dalal Street over those in Shanghai. Since January 2021, India's weight in the MSCI Standard Index has more than doubled from 8.9% to 18.2%, whereas China's weight has declined from 40.1% to 25.4% during the same period. This is the shortest-ever gap between the weights of stocks of the two countries. Analysts expect this gap to shrink further with the likelihood of higher flows into India as economic uncertainty in China is driving overseas fund managers out of the country.

Shares have risen in China after Beijing ousted its top stock market regulator and announced more funding for hard-strapped property developers

BEIJING — Chinese stocks will likely climb by at least 10% in coming days as authorities signal concerted support efforts, said Marko Papic, partner and chief strategist at Clocktower Group.

A Chinese infrastructure company has successfully raised $350 million in digital yuan for its new technology innovation bond.

SHANGHAI (Reuters) -China's securities regulator said on Sunday that it will fully suspend the lending of restricted shares effective from Monday, in policymakers' latest attempt to stabilise the country's stock markets following recent sharp falls.

By Jamie McGeever

BEIJING (Reuters) — China's major southern city of Guangzhou fully relaxed home purchase limits for some people on Saturday and said it would increase affordable housing supply, in a move to support the local property market.

Investing.com-- Most Asian stocks retreated on Friday as a stimulus-driven rebound in Chinese shares stalled, while Japan’s Nikkei 225 slid further away from 34-year highs as growing bets on a Bank of Japan pivot spurred more profit-taking.

MSCI's broadest index of Asia-Pacific shares outside Japan held broadly steady and was on track for a weekly gain of 2%. Trading was thinned with Australia out on a holiday. Chinese stocks looked set to end the week on a strong footing as a wave of policy support from Beijing restored fragile investor confidence and put a floor under its sliding stock market. The blue-chip index rose 0.03% and was eyeing a 2% weekly gain, while the Shanghai Composite edged 0.3% higher, putting it on track for a 3% weekly rise, its largest since July 2023. Hong Kong's Hang Seng Index eased 0.41%, but was still more than 5% higher for the week, also its best performance since last July. In an attempt to shore up its fragile economic recovery, China's central bank announced a deep cut to bank reserves on Wednesday, in a move that will inject about $140 billion of cash into the banking system. Those came a day after Bloomberg News reported Chinese authorities are seeking to mobilise about 2 trillion yuan ($278.98 billion), mainly from the offshore accounts of Chinese state-owned enterprises, as part of a stabilisation fund to buy shares. «We remain cautious on China, in line with our view for several years,» said John Pinkel, a partner and portfolio manager at Indus Capital. «We see evidence of selling induced by structured 'snowball' products, especially from onshore China sources.

The central People’s Bank of China says it plans to expand its “cross-border” digital yuan pilot in Hong Kong.