China’s Consumer Price Index Falls 0.8% Year-on-Year for January 2024, Deflation Continues
China’s consumer price index fell 0.8% year-on-year in January 2024, an increase of 0.5 percentage points from the previous month, which was also higher than market expectations. So far, the CPI has been in the deflationary range for the fourth consecutive month. Updated February 8, 2024 16:45 CST Data released by China’s National Bureau of […]
Multinational Company in Hong Kong Falls Victim to AI Scam: Employee Transfers $25.5 Million After Fake Conference Call
A multinational company from Hong Kong experienced firsthand how AI can be used for nefarious purposes after an employee unknowingly transferred HK$200 million ($25.5 million) after a conference call, which turned out to be completely fake. Updated February 6, 2024 11:25 CST A multinational company from Hong Kong experienced firsthand how AI can be used […]
BYD Shares Fall 4% After Profit Surge Falls Short of Analysts’ Expectations
Hong Kong-listed BYD shares fell 4% on Tuesday after the electric car maker said profits would surge this year but fell short of analysts’ expectations. Updated January 30, 2024 19:25 CST Hong Kong-listed shares of BYD ( BYD, 1211.HK ) fell 4% on Tuesday after the electric car maker said profits would surge this year, […]
Evergrande Group receives a winding-up order from court, ending its years of good cheer
China Evergrande Group has received a winding-up order from a Hong Kong court, ending years of good cheer for the company. The impact of China Evergrande’s default played out through the Chinese economy. The court issued the winding up order despite last ditch efforts by the company’s creditors over the weekend to reach an agreement, […]
Chinese Stock Tracking ETFs Rally Amid Reports of Government Aid Package
ETFs tracking Chinese stocks rose on Tuesday amid reports that Beijing is weighing an aid package for its struggling stock market. Updated January 24, 2024 07:20 CST ETFs tracking Chinese stocks rose on Tuesday amid reports that the Chinese government is weighing a package of support for its struggling stock market. According to FactSet data, […]
Chinese Stock Market Continues Sharp Decline
The CSI 300 index fell 1.6% on Monday to close at its lowest point in nearly five years. Hong Kong’s Hang Seng Index fell 2.3% and is now near its lowest closing level since 2009. Updated at 23:00 CST on January 22, 2024 Chinese stocks continued to fall sharply on Monday. Mainland China’s CSI 300 […]
Chicago Fed President Goolsby Discusses Potential Interest Rate Cuts Amid Inflation Concerns
Chicago Fed President Goolsby would not say Friday when he thought the central bank would cut interest rates, but said a rate cut could come this year “if we continue to make alarming progress on inflation.” Updated January 20, 2024 09:50 CST Chicago Fed President Austan Goolsbee dismissed on Friday that he thought the central […]
China’s Economic Growth in 2023: A Challenging Outlook
China’s economic growth rate slipped to one of its lowest levels in decades in 2023. Although China has lifted all epidemic restrictions, the housing slump and weak consumer confidence have severely damaged the world’s second-largest economy. Excluding the three years when China was closed to the outside world during the COVID-19 epidemic, the annual growth […]
China’s Market Regulator Instructs Investors Not to Sell Stocks Listed in Shanghai and Shenzhen
According to reports, China’s market regulator has instructed some institutional investors not to sell stocks listed in Shanghai and Shenzhen in a bid to reverse the recent decline in A shares. Updated January 17, 2024 09:00 CST According to reports, China’s market regulator has instructed some institutional investors not to sell stocks listed in Shanghai […]
Surging Uranium Prices Prompt Optimism for the Commodity Market
Stock markets have delayed the start of the new year, but a surprising move is taking place in one corner of the commodity market, and industry observers expect the rally to continue. Uranium spot prices climbed to just over $103 a pound on Monday, a new high since 2007, according to a chart from Numerco. […]
