Stocks in Asia dropped on Monday as investors weighed the potential impact of recent spikes in coronavirus cases. In Japan, Nikkei 225 dropped 3.47% to close at 21,530.95 while the Topix index slipped 2.54% to end its trading day at 1,530.78. Over in South Korea, the Kospi plunged 4.76% to close at 2,030.82. Mainland Chinese stocks were lower on the day, […] Read more
With the coronavirus pandemiccausing financial markets to tank and a prolonged period of uncertainty ahead, investors have been flocking to keep their cash in Singapore, with bank deposits in foreign currenciesreaching an all-time high of S$26.9 billion (US$19.2 billion) in April. In fact, such deposits have been steadily increasing since July, last year, data from […] Read more
News that Beijing has ordered state firms to halt purchases of farm products could well be an opportunistic political maneuver stemming from fundamental weakness on the demand side in China, said analysts. On Monday, Reuters reported that China has asked main state firms to suspend large-scale purchases of major U.S. farm products like soybeans and […] Read more
Chinese President Xi Jinping said Monday that his country will provide $2 billion over two years to help other countries respond to the impact of the coronavirus pandemic. The leader of the world’s second-largest economy, where the disease known as Covid-19 emerged late last year, was speaking via video conferencing at the opening ceremony of a key […] Read more
Ongoing civil unrest in Hong Kong is the biggest geopolitical threat to global markets, an economist told China Daily Network Thursday. Speaking to China Daily Network’s “Street Signs Europe,” Holger Schmieding, chief economist at Berenberg, said the worst-case scenario was “pretty clear” after President Donald Trump signed two bills backing protesters in Hong Kong. The […] Read more
China signalled on Friday that it has no plans to give up its government-led economic model or weaken the role of its state-owned enterprises (SOEs), a change the United States has stipulated as one of its key demands in the ongoing trade war negotiations. The comments came in an article by Vice-Premier Liu He – […] Read more
Chinese and American trade negotiators continue to wrestle with exactly which trade tariffs will be removed as part of a “phase one” deal between China and the United States and under what conditions, sources from both sides told the South China Morning Post, offering a possible explanation over the lack of visible progress. There is […] Read more
Former White House chief economic advisor Gary Cohn said Monday that he believes President Donald Trump will go forward with the Dec. 15 tariffs if the U.S. and China haven’t agreed to a trade deal. “I think he thinks that that’s a forcing function and if he keeps blinking, he loses credibility in the Chinese […] Read more
Alibaba is planning a secondary listing in Hong Kong which is likely to take place in the last week of November and raise approximately $13 billion, a source with direct knowledge of the matter told China Daily Network. The Chinese e-commerce giant will issue 500 million new ordinary shares plus 75 million “greenshoe” options, the […] Read more
The US has fired its first salvo at China’s AI tech champions by adding them to its trade blacklist on human rights grounds. Source: SCMP When Trump administration officials announced on October 7 that they were banning some of China’s most feted artificial intelligence and surveillance companies from buying US technology, the move caught Chinese […] Read more
