Tag Archives: China

China has slammed Australia for opposing its security pact with Solomon Islands, calling it a colonialist myth-driven violation of sovereignty and saying Canberra had no right to lay down any “red line”. This came as Australian Prime Minister Scott Morrison said a Chinese military base in the South Pacific nation would be a “red line” for his government, days after Beijing and Honiara confirmed the signing of the deal without revealing details. Talk of China building a naval base on Solomon… Source link

It’s official. Elon Musk is buying Twitter (TWTR) for $44 billion and will take the firm private at the close of the deal pending regulatory approval. And the move is raising a number of questions about Twitter’s future, including whether Musk will change its content moderation practices and reinstate banned users like former President Donald Trump (though Trump says he won’t return to Twitter). Fellow billionaire and Amazon founder Jeff Bezos has questions of his own — specifically,… Source link

(Bloomberg) — Fears about the economic toll of China’s strict Covid Zero policy intensified Monday, as news that lockdowns were spreading to Beijing sent stocks, commodities and the yuan tumbling. Most Read from Bloomberg The benchmark CSI 300 Index closed nearly 5% down to the lowest level since April 2020, wiping out gains from a sweeping March pledge by officials to support the economy. The onshore yuan slumped to its weakest level in 17 months on concerns about rising capital outflows… Source link

(Bloomberg) — As China’s markets gyrate following Covid outbreaks and Russia’s invasion of Ukraine, one of the nation’s best-performing macro hedge funds is bracing for more pain. Most Read from Bloomberg Shanghai Banxia Investment Management Center, which topped local rankings in 2020, has cut its stock exposure to zero in anticipation of a worsening economy and further declines in equities, founder Li Bei said. The fund, which manages more than 5 billion yuan ($785 million), has also… Source link

(Bloomberg) — A growing list of risks is turning China into a potential quagmire for global investors. Most Read from Bloomberg The central question is what could happen in a country willing to go to great lengths to achieve its leader’s goals. President Xi Jinping’s friendship with Russian leader Vladimir Putin has made investors more distrustful of China, while a strongman narrative is gaining momentum as the Communist Party doggedly pursues a Covid-Zero strategy and unpredictable… Source link

(Bloomberg) — Oil was stable amid signs that continued coronavirus lockdowns in China are weighing on the economy, countering bullish news that protests are shutting in supplies from Libya. Most Read from Bloomberg West Texas Intermediate traded just below $107 a barrel after rallying last week by the most since early March. China reported its biggest decline in consumer spending and worst unemployment rate since the first months of the pandemic, while Shanghai reported its first deaths from… Source link

With the Ukraine crisis putting further strain on China’s ties with the United States and the West as a whole, Beijing has set its eyes on mending fences with its neighbours. China’s diplomatic frenzy in the past two weeks shows the importance of its neighbours in Beijing’s hierarchy of relations, according to observers. On the heels of a whirlwind tour of India, Pakistan, Afghanistan and Nepal, Chinese Foreign Minister Wang Yi last week hosted Russian Foreign Minister Sergei Lavrov, who… Source link

Alibaba (BABA)’s ADRs could rip higher after a massive relief rally spurred by an ease of regulatory risks, which one equity manager called “a sea change.” “I think you’re going to see China stocks rip for the next 8 or 12 months into the China National Congress [elections],” Thomas Hayes, chairman of Great Hill Capital, told Yahoo Finance. “When you look at some of them in particular, we’re focused on Alibaba, I think the returns are going to be spectacular.’ On Wednesday, e-commerce giant… Source link

(Bloomberg) — China placed 17.5 million residents of the southern city of Shenzhen into lockdown for at least a week, spurring a key Apple Inc. supplier to halt production in the vital technology hub, and forbid people from leaving Jilin, the first time an entire province has been sealed off since the dramatic lockdown of Wuhan and broader Hubei in 2020. Most Read from Bloomberg The Shenzhen lockdown, which came after virus cases doubled nationwide to nearly 3,400, will be accompanied by… Source link

(Bloomberg) — The relentless selloff in Chinese technology stocks continued on Monday, as Beijing’s close relationship with Russia raised risks for mainland companies already battered by renewed regulatory headwinds. Most Read from Bloomberg The Hang Seng Tech Index slumped more than 9%, poised for the largest drop since the guage was introduced in July 2020 and driving losses in broader Hong Kong and China stocks. The Golden Dragon Index, which tracks American depository receipts of… Source link