Category: China
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China Caixin Manufacturing PMI for July 2024 49.8 (expected 51.5, prior 51.8)
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I have revised this result twice, as it has returned to contraction again after a good June. This was a major failure to meet expectations. This is its first contraction in nine months, and points to underlying problems in the Chinese economy. The PMI had performed better than the official…
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Marriott cuts 2024 sales view on China drag, slower North American demand By Reuters
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(Reuters) – Hotel operator Marriott International Inc (NASDAQ:MRX) lowered its 2024 room revenue growth forecast on Wednesday, citing a weaker operating environment in China and expectations of weaker demand in North America. The company’s shares fell 4.7% before the bell. Marriott expects its revenue per available room (RevPAR), an important…
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Starbucks reports in-line Q3 earnings as sales miss on China weakness; shares up By Investing.com
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Investing.com – Starbucks Corp reported mixed third-quarter results on Tuesday, with earnings matching Wall Street estimates while revenue fell short of expectations due to weak sales in China. Shares of Starbucks Inc. (NASDAQ:) rose more than 2% in premarket trading on Wednesday. Starbucks earned $0.93 on revenue of $9.1 billion.…
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China official protests Japan’s negative remarks at meeting with US, Chinese foreign ministry says By Reuters
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BEIJING (Reuters) – A Chinese Foreign Ministry official has expressed diplomatic dissatisfaction to Japan over negative comments made by the Japanese side during a recent meeting with the United States, China’s foreign ministry said in a statement on Wednesday. Liu Jinsong, director-general of Asian affairs at China’s Foreign Ministry, has…
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US-Philippines engagements help with ‘agile’ responses to China, says Marcos By Reuters
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By Simon Lewis and Karen Lima MANILA (Reuters) – Philippine President Ferdinand Marcos Jr. told U.S. Secretaries of State Antony Blinken and Lloyd Austin on Tuesday that regular communication between Manila and Washington is needed to ensure “agile” responses to maritime tensions between his country and China. The Philippines, a…
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US-Philippines engagements help with ‘agile’ responses to China, says Marcos By Reuters
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By Simon Lewis and Karen Lima MANILA (Reuters) – Philippine President Ferdinand Marcos Jr. told U.S. Secretaries of State Antony Blinken and Lloyd Austin on Tuesday that regular communication between Manila and Washington is needed to ensure “agile” responses to maritime tensions between his country and China. The Philippines, a…
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Asian stocks rebound with Fed, rate cuts in focus; China lags By Investing.com
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Most Asian stocks rose sharply on Monday with focus on the upcoming Federal Reserve meeting for further signals on interest rate cuts, with the battered technology sector leading the gains. But Chinese markets continued to lag their regional peers, with sentiment toward the country showing little sign of improvement ahead…
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Asian stocks rebound with Fed, rate cuts in focus; China lags By Investing.com
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Most Asian stocks rose sharply on Monday with focus on the upcoming Federal Reserve meeting for further signals on interest rate cuts, with the battered technology sector leading the gains. But Chinese markets continued to lag their regional peers, with sentiment toward the country showing little sign of improvement ahead…
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China is considering increasing stock exchange fees on HFT by a massive factor of x10
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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China is considering increasing stock exchange fees on HFT by a massive factor of x10
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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China Defends Manufacturing Push, Says World Needs More EVs
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Breadcrumbs Path Links PMN Business China’s manufacturing capacity helps the world fight climate change and contain inflation, Vice Finance Minister Liao Min said, responding to recent criticism from U.S. Treasury Secretary Janet Yellen of the country’s industrial surplus. Article author: Bloomberg News Bloomberg News Published on July 27, 2024 •…
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Apple slips from top 5 smartphone brands in China: IDC, Canalys
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Apple is no longer one of the top five smartphone sellers in China, according to independent research, as the price of the iPhone falls due to a weak economy, new competition and an alleged government ban. Research published by Canalis And International Data Center This week, a smartphone shipments measurement…
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Asian stocks drop as tech tracks weak US earnings; China remains on backfoot By Investing.com
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Most Asian stocks fell on Wednesday, weighed down by renewed losses in the technology sector as major corporate earnings in the United States fell overnight, while sentiment toward China also showed little sign of improvement. Regional stocks received weak support from Wall Street, especially as U.S. stock index futures fell…
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Analysis-Drug giants eye China for deals despite growing Sino-US tensions By Reuters
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By Andrew Silver and Ken Wu SHANGHAI/HONG KONG (Reuters) – Some of the world’s biggest drugmakers, undeterred by growing tensions between China and the United States, are looking for deals in China to revamp their drug pipelines and boost their presence in the world’s second-largest pharmaceutical market, industry executives and…
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The AUD and the easing from China – given more a nudge lower
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The Australian and New Zealand dollars were weaker. The People’s Bank of China’s monetary easing measures yesterday did not help either. The People’s Bank of China summary is here in case you missed it: NAB Bank comments via Reuters report: “For the Australian and New Zealand dollars, they tend to…
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China cuts 1 and 5 year loan prime rates by 10 basis points each
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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Trouble for China hedge funds? Reuters: Brace for upheaval from tough new rules
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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Exclusive-Illicit chip flows to Russia seen slowing, but China, Hong Kong remain transshipment hubs By Reuters
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By James Pomfret and Michael Martina HONG KONG/WASHINGTON (Reuters) – Semiconductors and other banned goods shipped through China and Hong Kong to fuel Russia’s war effort have fallen by a fifth this year, previously undisclosed U.S. Commerce Department data shows, but Hong Kong remains a global hub for sanctions evasion.…
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Heads up for China rate setting coming up on Monday
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The People’s Bank of China announced key interest rates for one-year and five-year loans on Monday, The announcement is usually on the 20th of the month, but since that day is Saturday, it will be on Monday instead. Earlier this week, we conducted a monthly setup for the Medium-Term Lending…