City Shanghai Financial News

NMDC Share Price Today: Shares of public-sector undertaking (PSU) NMDC were locked in at over four per cent upper circuit at ₹204.90 apiece to hit its 52-week high mark on Tuesday, December 26. The shares of the iron ore company rallied earlier today after iron ore futures hit an 18-year mark. Iron ore rallied to its highest since June 2022, showing Beijing’s efforts to stem the property market’s decline in recent months may be paying dividends.

Chinese gaming companies have announced share buybacks — plans seen as an attempt to reassure investors after the market was spooked by regulatory moves to clamp down on consumer spending on games. Last Friday, regulators published draft rules that would ban online games from giving players rewards if they log in every day, if they spend on a game for the first time or if they spend several times on a game consecutively. All are common incentive mechanisms in online games.

BEIJING (Reuters) — Giant Christmas trees adorned with lights, tinsel and gift boxes greet shoppers at glittering malls in big Chinese cities like Shanghai and Chongqing, but in many parts of China, extending season's greetings is out of the question.

China stocks slipped on Monday, with online gaming shares extending their decline of the previous session as China's new rules to curb spending on video games dented sentiment despite regulators' latest efforts to soothe investor concerns. The Hong Kong market is closed for the Christmas holiday. ** The blue-chip CSI 300 Index slipped 0.1% and the Shanghai Composite Index was down 0.3% by the midday recess. ** China's CSI Anime Comic Game Index slumped 4.9%, extending a 10% tumble in the previous session. ** The weak sentiment towards the sector persisted despite a statement from regulators on Saturday that they would make improvements to the proposed rules after «earnestly studying» public views on them. ** The proposed rules aim at curbing money and time spent on video games, dealing a blow to the world's biggest games market and knocking the value of Tencent Holdings, Netease and other gaming stocks. ** On Monday, shares in gaming companies Giant Network Group, 37 Interactive Entertainment Network and Kingnet Network were all down their 10% daily limit. ** Stocks in the media sector tumbled 2.6%, while defence shares gained 1.6%.

Asian shares have slipped after Wall Street slammed the brakes on its big rally following disappointing corporate profit reports and warnings that the market had simply gone too far, too fast

By Sophie Yu and Valerie Insinna

SHANGHAI: Shanghai Disney Resort will open a Zootopia-themed attraction to the public on Wednesday aiming to capitalise on a post-pandemic desire for travel and experiences in China. Zootopia, which came out in Chinese cinemas in 2016, remains one of the highest-grossing imported animated films ever released in the country. This marks Disney's first Zootopia-themed site and the eighth themed area at the Shanghai Disney Resort which opened in 2016 and was expanded in 2018 with a Toy Story-themed attraction. While consumption in China has been slow to bounce back following the lifting of COVID-19 curbs a year ago, domestic travel and experiences have rebounded more strongly, with Shanghai Disney Resort one of the beneficiaries. «I think what you saw over the last year as people emerge from the virus is them getting out and experiencing life again,» said Joe Schott, president and general manager at Shanghai Disney Resort. In its fourth-quarter earnings last month, Walt Disney flagged higher attendance at its Shanghai and Hong Kong parks as one of the factors driving 31% growth in its Experiences division, which includes its theme parks. Shanghai Disney Resort is a joint venture in which Chinese state-owned Shendi Group holds a 57% stake. (Reporting by Casey Hall; editing by Jason Neely)

Asian shares have mostly advanced after Wall Street ticked higher amid hopes that Japan's moves to keep interest rates easy for investors could augur similar trends in the rest of the world

SHANGHAI/SINGAPORE (Reuters) — China stood pat on benchmark lending rates at the monthly fixing on Wednesday, matching market expectations, after the central bank kept its medium-term policy rate steady earlier last week.

Nippon Steel in an all-cash deal valued at approximately $14.1 billion. The transaction is worth about $14.9 billion when including the assumption of debt. The combined company will be among the top three steel-producing companies in the world, according to 2022 figures from the World Steel Association.

Midway through 2001, the U.S.-China relationship looked to be in a dire place. Two years earlier, NATO missiles had hit the Chinese Embassy in Serbia, killing three Chinese citizens. Then the spy plane crisis of April 2001—where a Chinese plane collided with a U.S.

Asian shares have churned higher after the Dow Jones Industrial Average climbed to another record high

Investing.com-- Most Asian stocks rose sharply on Friday, extending recent gains following dovish signals from the Federal Reserve, while some positive economic readings from China also aided sentiment.

BEIJING (Reuters) -China's new home prices fell for the fifth straight month in November, official data showed on Friday, as the sector still struggles to elbow its way out of a weak market in the face of dampened confidence in demand and investment.

The supply of Ether has hit a new low since the historic Shanghai upgrade of the Ethereum (ETH) network, witnessing a decline of more than 309,500 coins since September last year. 

Investors in Chinese stocks next year will be seeking out businesses with global reach or other insulation from an economic downturn, after three straight years of China underperforming world markets. Companies in defensive sectors such as health, medical innovation and exporters in the electric vehicles supply chain and advanced manufacturing, as well as multinationals such as e-commerce firm PDD Holdings, will top the list. That's despite sell-side analysts turning bullish on China's broader market for next year, with Morgan Stanley and Goldman Sachs forecasting Chinese equities to outperform the S&P 500. «Since economic recovery is slower than expected, we lowered exposures which are sensitive to macro cycles,» said Wang Qing, chairman at Shanghai Chongyang Investment Management. Chongyang is instead buying defensive high-dividend stocks, medical innovators with global competitiveness, and advanced manufacturing backed by Beijing, Wang said, declining to list any investments by name. This follows China's blue chip CSI300 index sinking to five-year lows and losing 12% over 2023 against a 15% gain for global stocks as the Chinese economy struggled with a property crunch and a slow recovery from COVID-19. Hong Kong's Hang Seng fared even worse, sliding more than 18% to trade on a forward price-to-earnings ratio below six, against 21 for the S&P 500. Performance over the last 10 months crushed the optimism that infused the beginning of the year, with four straight months of foreign outflows in the second half of the year totalling a net 138 billion yuan ($19 billion) withdrawn from Chinese equities via the Stock Connect scheme. «Investors (have) struggled to think what the next growth driver for China will be,»

Huawei Technologies Co.’s Mate 60 Pro smartphone shows “significant progress” in China’s domestic design and engineering of radio-frequency chips, according to the latest findings from research firm TechInsights. The Shenzhen-based company’s handsets include RF switches from Maxscend Microelectronics Co. and power-amplification modules from Beijing OnMicro Electronics Co., components most commonly provided by US suppliers Skyworks Solutions Inc. and Qorvo Inc., respectively. The architecture “is tailored for the Chinese industry” and suggests there was design collaboration between Huawei and its suppliers, TechInsights said in a post on Monday.

Investing.com — Most Asian stocks rose on Monday, albeit marginally, as investors hunkered down before a string of key central bank meetings this week, while Chinese shares plummeted on continued signs of deflation in the country.

Investing.com — China’s disinflationary trend worsened in November, data showed over the weekend, with consumer prices falling at their fastest pace in three years, while producer prices remained in contraction for a fourteenth consecutive month.

Asian shares are mostly higher after Wall Street reached a 20-month high ahead of a week that includes essential U.S. inflation data and a final rate decision of the year by the Federal Reserve

World shares are mostly higher ahead of a U.S. jobs report after Wall Street rose Thursday to snap its first three-day losing streak since Halloween