ASIA: Meeting China’s annual economic targets is not optional, Premier Li Qiang said, with a strong message calling for increased resources and policy coordination. During a State Council meeting on Wednesday, Li stressed the need to expand domestic demand, boost private enterprise, attract foreign investment and build a modernized industrial system as China […]
ASIA: The People’s Bank of China has reduced interest rates for medium-term lending and reverse repos, with a 15 basis point decrease for MLF (now 2.5%) and a 10 basis point decrease for reverse repos (now 1.8%). This move aims to counter the effects of the tax payment peak and maintain reasonable banking system […]
ASIA: China’s July data fell short of expectations, with retail sales only rising 2.5% from a year ago, industrial production increasing by 3.7%, and fixed asset investment growing by 3.4% for the first seven months of the year. The urban unemployment rate edged up to 5.3%. Notably, the report didn’t include the youth unemployment […]
ASIA: The major Asian stock markets had a mixed day today: NIKKEI 225 decreased 413.74 points or -1.27% to 32,059.91 Shanghai decreased 10.82 points or -0.34% to 3,178.43 Hang Seng decreased 301.64 points or -1.58% to 18,773.55 ASX 200 decreased 63.10 points or -0.86% to 7,277.00 Kospi decreased 20.39 points or -0.79% to 2,570.87 […]
ASIA: The major Asian stock markets had a negative day today: NIKKEI 225 closed Shanghai decreased 65.31 points or -2.01% to 3,189.25 Hang Seng decreased 173.07 points or -0.90% to 19,075.19 ASX 200 decreased 17.30 points or -0.24% to 7,340.10 Kospi decreased 10.30 points or -0.40% to 2,591.26 SENSEX decreased 363.53 points or […]
ASIA: President Joe Biden has signed an executive order to limit new U.S. investments in China’s sensitive technology areas such as computer chips. The order also mandates government notification for investments in other tech sectors. It permits the U.S. Treasury secretary to control American investments in Chinese entities related to semiconductors, quantum tech, and […]
ASIA: The major Asian stock markets had a mixed day today: NIKKEI 225 decreased 172.96 points or -0.53% to 32,204.33 Shanghai decreased 16.13 points or -0.49% to 3,244.49 Hang Seng increased 61.86 points or 0.32% to 19,246.03 ASX 200 increased 26.90 points or 0.37% to 7,338.00 Kospi increased 31.14 points or 1.21% to 2,605.12 […]
ASIA: Stripe, a US-based payments processor, has released a report discussing how digital trade is reshaping the global economy and how businesses are responding. The report is based on transaction data from Stripe’s platform and surveys of business leaders and consumers across nine countries. It highlights how technology is diversifying international trade routes and […]
ASIA: China raised its gold reserves for a ninth straight month in July as central bank purchases continue to underpin prices of the precious metal. Bullion held by the People’s Bank of China rose by 740,000 troy ounces, the central bank said on Monday. That’s equivalent to about 23 tons. Total stockpiles now sit at […]
ASIA: Singapore’s economy grew by 0.7% year-on-year and 0.3% quarter-on-quarter in the second quarter, avoiding a technical recession. This growth exceeded the expectations of economists, who had predicted a 0.6% year-on-year and 0.3% quarter-on-quarter growth. In the previous quarter, the economy had contracted by 0.4% quarter-on-quarter but saw marginal growth of 0.4% year-on-year. Despite […]
