City Shanghai Financial News

Shares are mostly higher in Asia after Wall Street got back to climbing following more encouraging profit reports and the latest signal that inflation is loosening its chokehold on the economy

Saudi-Iran peace deal that it brokered, China is looking to mediate between Israel and Palestine, hoping this will boost its image in the Muslim world. Israeli Prime Minister Benjamin Netanyahu has been invited to visit Beijing and he may seek Beijing's assistance to secure a deal with the Saudis, ET has learnt. India is keeping a close watch on any China-Israel deal, given its high stakes in Israel.

Oscar winner Michelle Yeoh has tied the knot with her longtime fiance Jean Todt after nearly two decades of engagement. Ex-Ferrari Formula 1 driver Felipe Massa shared the news that Yeoh, 60, and Todt, the former CEO of Ferrari, got married in Geneva. They were engaged in 2004. Massa shared a photo of the couple's wedding program, which featured a message that read, «We met in Shanghai on 4th June 2004. On 26th July 2004, J.T proposed to marry M.Y and she said YES.» «Today after 6992 days on 27th July 2023 in Geneva, surrounded by loving family and friends, we are so happy to celebrate this special moment together!» the program read. Massa also posted several photos from the wedding celebration, including a selfie with Todt and Yeoh, who is seen holding her Oscar trophy. Todt, 77, later confirmed the news in a post on Twitter. «Now that my other son @MassaFelipe19 has „discreetly“ spread the good news, I can happily confirm the union with the Love of my life, Michelle,» he tweeted.

Yeoh, the renowned Everything Everywhere All at Once star, finally exchanged vows with her long-time partner, ex-Ferrari CEO Jean Todt. The couple's 19-year engagement culminated in a beautiful wedding ceremony held in Geneva, Switzerland, on July 26th.

Wall Street is back to climbing following more encouraging profit reports and the latest signal that inflation is loosening its chokehold on the economy

Shares in Europe and Asia are mixed after the Bank of Japan adjusted its bond purchase policy but kept its negative benchmark interest rate unchanged

A growing number of young Chinese are moving overseas to escape their homeland's ultra-competitive work culture, limited opportunities and family pressures

Shri Techtex IPO: GMP, subscription status on day 3, and other key details here Earlier this month, Shanghai Securities News reported that the CSRC is working to formulate an action plan for the reform at the investment end of the capital market, to achieve balanced development between investment and financing and direct more medium- to long-term capital to equity investment. The normalization has helped raise Chinese companies' interest in overseas IPOs.19 Chinese companies debuted on the US stock market in the first half of this year, netting $600 million in all.

China's video game player has grown to a record of 668 million, a government-run game industry association said on Thursday, as the world's biggest gaming market returns to growth after a bruising crackdown. The number of gamers, which is accurate as of end-June, represents about half of the population. Industry association CGIGC, which announced the data at an industry conference in Shanghai, also said sales revenue of the domestic gaming market reached 144.263 billion yuan ($20.23 billion) for the first half of this year.

Elon Musk, is eyeing new opportunities in Asia with its cutting-edge ‘new-gen platform’, which seeks to introduce more budget-friendly compact and sub-compact electric vehicles (EV) that have the potential to drive large volumes across developing Southeast Asian markets. According to Tesla’s Q2 investor deck, it is working on developing its next-generation EV platform across multiple locations. Industry insiders said the new product, which is projected to be priced around $25,000, may debut by 2023-end, although some analysts expect a 2025 launch.

HEFEI, China—More than one in five young people in China are jobless. The government casts much of the blame on the job seekers themselves, insisting that their expectations have gotten too high. Young people need to stiffen their spines and embrace hardship, says leader Xi Jinping, who labored in the countryside in China’s Cultural Revolution.

Global stock markets are lower after Wall Street hit a 15-month high ahead of what traders hope will be the Federal Reserve’s final increase in this interest rate cycle

Ant Group, a company backed by billionaire Jack Ma, is reportedly planning to restructure and cut ties to some operations that are not core parts of its Chinese financial business. The move prepares the company for a potential initial public offering (IPO) in Hong Kong. 

By Chen Aizhu, Emily Chow and Andrew Hayley

Banks in China are looking to adopt the digital yuan in more of their operations, and have launched the nation’s first central bank digital currency (CBDC)-powered settlement service for bulk commodity spot clearing.

By Clare Jim and Karin Strohecker

By Ankur Banerjee

SHANGHAI/BEIJING (Reuters) -China's major state-owned banks were seen selling U.S. dollars to buy yuan in both onshore and offshore spot markets in early Asian trade on Tuesday, three people with direct knowledge of the matter said, moves aimed at supporting the Chinese currency.

Asian shares jumped on Tuesday as China's pledge to step up policy support for its stuttering economy soothed sentiment and lifted beaten down Hong Kong and Chinese stocks, while the dollar eased ahead of the Federal Reserve meeting this week. MSCI's broadest index of Asia-Pacific shares outside Japan was 1.2% higher and on course to snap a six-day losing streak.

SHANGHAI (Reuters) — Shares in China's property developer Country Garden and its property service arm Country Garden Services Holdings tumbled on Monday, extending losses from the previous week on debt concerns.

Hua Hong Semiconductor said on Sunday it aims to raise up to 21.2 billion yuan ($2.95 billion)in a listing on the Shanghai stock exchange. The country's second-largest chip foundry will sell 407.75 million shares priced at 52 yuan per share, it said in a statement to the exchange.