City Shanghai Financial News

Asian markets are mostly lower after shares slumped on Wall Street despite better-than-expected reports on the U.S. jobs market and business activity

China has slammed a decision by the U.S. Treasury to sanction a Beijing-based cybersecurity company for its alleged role in multiple hacking incidents targeting critical U.S. infrastructure

Pony.ai Inc is seeking to launch its robotaxi services in Hong Kong, joining Baidu in a race to provide services in the city, as the autonomous driving firm looks to expand its operations globally.

Asian stocks were primed to begin the New Year on a cautious note after an inauspicious end to an otherwise stellar 2024 for global equity investors. Futures on benchmarks in Shanghai declined after mainland Chinese gauges tumbled in December’s final day of trading. The S&P 500 and Nasdaq 100 indexes dropped for a fourth consecutive session in a year-end pullback that shaved more than a trillion dollars from large-cap market values.

Subscribe to enjoy similar stories. The bookstore in the metro station beneath Shanghai’s city library seemed increasingly out of place in Xi Jinping’s China. Founded in 1997 by Yan Bofei, who researched philosophy, Jifeng Books was known for holding lectures on topics such as democracy and labour rights.

The benchmarks rose about 21% each to hit record highs on Sept. 27. They slipped into correction territory — a 10% drop from all-time high levels — in November, hurt by record monthly foreign selling in October and a moderation in earnings growth.

Vizhinjam Port in Kerala marked a milestone on Wednesday by welcoming its 100th commercial vessel, MSC MICHELA. The vessel, sailing under the flag of Portugal, with an impressive Length Overall (LOA) of 299.87 metres and a draft of 12.5 metres, berthed at 1:30 PM, marking a significant achievement in Vizhinjam Port's operations on Christmas Day, a port official said here.

China stocks closed roughly flat on Wednesday, as gains in energy shares offset losses in small-cap shares, while the Hong Kong market was closed for a public holiday. ** China's blue-chip CSI300 Index closed up 0.05%, while the Shanghai Composite Index was down 0.01%.

Lexmark International from a consortium of Asian investors in a deal valued at $1.5 billion.

Supreme Court on December 20 set aside the National Consumer Disputes Redressal Commission (NCDRC)’s earlier judgment that capped the interest charged by banks on late credit card bill paymets at 30 per cent. The national consumer court had in 2010 restrained banks from charging interest rates in excess of 30% per annum from the credit card holders for their failure to make full payments on due date. The NCDRC judgment had held that if banks charge rate of interest over 30% towards credit card dues, that would amount to unfair trade practice.

Asian stocks are mostly higher ahead of the Fed’s last rate decision this year

Shares are mixed in Asia after the Nasdaq set a record ahead of a meeting by the Federal Reserve later this week that could set the direction for markets in the new year

Asian shares have tracked Wall Street’s decline in response to potentially discouraging data on the U.S. economy

Chinese Vice Premier He Lifeng has met with several U.S. finance executives in the last month as Beijing seeks to build relationships ahead of President-elect Donald Trump's planned tariffs on China.

Shares are mostly lower in Asia, with South Korea's benchmark down 2.3%, after U.S. stocks rose to records on Friday

Vivek Ramaswamy, who is co-heading proposed Department of Government Efficiency, had a controversial past with billionaire Elon Musk. Ramaswamy has a lengthy history of attacking Musk's ties to China, frequently referring to his partner's as a «circus monkey», and a puppet for the Chinese Communist Party, reports the CNN. Ramaswamy also criticized Tesla's investments and Musk’s comment on Taiwan. He argued the Tesla CEO was pandering to the Chinese Communist Party for business benefits, such as regulatory approvals and tax breaks. Ramaswamy’s critiques, reviewed by CNN’s KFile, include pointed remarks about Musk’s 2022 suggestion that Taiwan should become a special administrative region of China. ALSO READ: US stares at billions in losses as China bans exports of these rare minerals. All you need to know

Formula 1 on Friday announced a five-year extension with the Chinese Grand Prix that will see the Shanghai International Circuit remain on the calendar through the 2030 season. As per a release from F1, the extension follows Formula 1's successful return to China in 2024 after a five-year absence, where 200,000 passionate fans attended the race to see Max Verstappen take victory in both the Sprint and the Grand Prix. In the 20 years since its first race, the 5.45km Shanghai International Circuit has established itself as a favourite of drivers and fans alike. The drivers relish the unique challenge the circuit provides, including the ever-tightening Turns 1 and 2, and high g-force Turns 7 and 8, and fans come to enjoy incredible racing and the vibrant culture of the city of Shanghai.

China is fine tuning its policies aimed at revving up its economy as it braces for an uncertain future in relations with the United States under President-elect Donald Trump

Asian shares are mostly higher after technology stocks pulled Wall Street to another record finish

Shares have started the week higher in Asia, led by gains in China as monthly surveys showed improving conditions for manufacturing