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☆ China drives EV boom this year amid strong demand for hybrid vehicles
▼ + stars: | 2024-05-14 | by ( Dylan Butts | ) www.cnbc.com time to read: +2 min

Nurphoto | Nurphoto | Getty ImagesElectric vehicle sales have risen sharply this year, led by growth in China and a strong demand for hybrid vehicles in particular, according to a report from Counterpoint Research. Sales of hybrid vehicles, which have both electric motors and combustion engines, vastly outpaced those of full battery-powered alternatives, rising 46% year over year. China extends leadChinese companies have been a huge beneficiary of the rise in demand for electric vehicles, especially firms that sell both BEVs as well as hybrids. According to Counterpoint, EV sales in China jumped 28% in the first quarter of 2023, amid an ongoing price war that has pushed down costs for consumers. But, while overall EV sales in the U.S. rose 2%, those of battery electric vehicles declined by 3% in the quarter.

Persons: BEV, Abhik Mukherjee, Tesla Organizations: Nurphoto, Getty, Counterpoint Research, EV, Geely Holdings, Li Auto, Volkswagen Locations: Lianyungang Port, Jiangsu Province, China, United States, Europe, U.S

☆ Asia markets largely rise ahead of China trade data
▼ + stars: | 2023-08-08 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Cargo ships stop at their berths to load and unload containers at the container terminal in Lianyungang Port, East China's Jiangsu province, June 5, 2023. Asia-Pacific markets largely rose on Tuesday as investors focus on China's trade data for July. Futures for Hong Kong's Hang Seng index stood at 19,412, pointing to a weaker open compared to the HSI's last close of 19,537.92. Japan's Nikkei 225 rose 0.33%, while the Topix was up 0.25% as the country's household spending remained in negative territory for the fourth straight month. Overall household spending fell 4.2% year on year in June, compared with 4% in May, official data showed.

Persons: Kospi Organizations: Reuters, Nikkei Locations: Lianyungang Port, East China's Jiangsu, Asia, Pacific, Australia, South

Cargo ships stop at their berths to load and unload containers at the container terminal in Lianyungang Port, East China's Jiangsu province, June 5, 2023. In Australia, the S&P/ASX 200 rose 0.25%, ahead of Australia's first quarter GDP numbers. The country's economy is expected to expand 2.4% year-on-year, slightly slower than the 2.7% recorded in the fourth quarter of 2022. Japan stocks were higher, with the Nikkei 225 inching closer to the 33,000 level and rising 0.47%. South Korea's markets came back from a public holiday with a positive start, with the Kospi climbing 0.28% and the Kosdaq up by 0.6%.

Persons: Philip Lowe Organizations: Reserve Bank of Australia, Nikkei Locations: Lianyungang Port, East China's Jiangsu, Asia, Pacific, Australia, Australia's, Japan, South

☆ CNBC Daily Open: Troubled economies, calm markets
▼ + stars: | 2023-06-07 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Despite stumbles in some big-name stocks yesterday, U.S. markets managed to climb as the uncertainty of previous weeks dissipated. Apple shares dipped 0.2% as investors digested information on the technology giant's new mixed reality headset. The CBOE Volatility Index, a measure of investors' 30-day expectations and typically seen as Wall Street's fear gauge, dropped to 13.96 yesterday.

Persons: Goldman Sachs, Samik Chatterjee, Coinbase, weren't fazed, —, That's Organizations: CNBC, Apple, Worldwide Developers, JPMorgan, Boeing, BMO Capital Markets, Nasdaq, Dow Jones, Fed Locations: Lianyungang Port, East China's Jiangsu, U.S

☆ China’s exports slump less than expected in December
▼ + stars: | 2023-01-13 | by ( Evelyn Cheng | ) www.cnbc.com time to read: 1 min

Cargo ships dock at the container terminal in Lianyungang Port, East China's Jiangsu province, Dec 7, 2022. BEIJING — China's exports and imports fell less than expected in December, the customs administration said Friday. China's exports fell by 9.9% in December from a year ago in U.S.-dollar terms, slightly better than the 10% decline forecast by a Reuters' poll. China's imports fell by 7.5% year-on-year in December in U.S.-dollar terms, also better than the 9.8% decline predicted by Reuters. Strong exports bolstered China's economy in the last two years.

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