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☆ Short positions in China stocks shrink after regulatory crackdown
▼ + stars: | 2024-03-03 | by ( ) www.cnbc.com time to read: +1 min

Signage for the Shanghai Stock Exchange in Pudong's Lujiazui Financial District in Shanghai, China, on Monday, Jan. 29, 2024. Short positions in China's stock market shrank by a third in February to their lowest in more than three years, reflecting measures by regulators to curb speculation and boost investor confidence. The data, however, does not capture other short positions via derivatives or stock futures. As part of a raft of measures to revive the market, China's securities watchdog last month suspended brokerages from borrowing shares for lending to short-sellers. In addition, investors were banned from short selling stocks bought on the same day.

Persons: CSI300 Organizations: Shanghai Stock Exchange, China Securities Finance Corp Locations: Lujiazui, Shanghai, China

☆ Chinese firm behind ‘news’ websites pushes pro-Beijing content globally, researchers find
▼ + stars: | 2024-02-08 | by ( ) www.cnbc.com time to read: +3 min

Spread over websites in 30 countries, the propaganda material is interspersed with news aggregated from local news outlets and Chinese state media, according to a research report the Toronto-based group released on Wednesday. More than 100 websites disguised as local news outlets in Europe, Asia and Latin America are pushing pro-China content in a widespread influence campaign linked to a Beijing public relations firm, digital watchdog Citizen Lab has found. Spread over websites in 30 countries, the propaganda material is interspersed with news aggregated from local news outlets and Chinese state media, according to a research report the Toronto-based group released on Wednesday. Citizen Lab said the campaign began in mid-2020 and traced the network to public relations firm Shenzhen Haimaiyunxiang Media Co., Ltd., also known as Haimai. But a "press releases" button at a corner of its homepage leads to a range of Chinese state media articles on topics such as China's contribution to the global economic recovery and its push towards technological innovation.

Persons: Alberto Fittarelli, Citizen Lab, Mandiant Organizations: Citizen, Shenzhen Haimaiyunxiang Media, Roma, Times Locations: Lujiazui, Shanghai, China, Toronto, Europe, Asia, America, Beijing, United States, Shenzhen, Washington, Italian

☆ IMF upgrades global growth forecast, citing U.S. resilience and policy support in China
▼ + stars: | 2024-01-30 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Buildings in Pudong's Lujiazui Financial District in Shanghai, China, on Monday, Jan. 29, 2024. The International Monetary Fund on Tuesday nudged its global growth forecast higher, citing the unexpected strength of the U.S. economy and fiscal support measures in China. It now sees global growth in 2024 at 3.1%, up 0.2 percentage points from its prior October projection, followed by 3.2% expansion in 2025. It forecasts growth this year of 2.1% in the U.S., 0.9% in both the euro zone and Japan, and 0.6% in the United Kingdom. "What we've seen is a very resilient global economy in the second half of last year, and that's going to carry over into 2024," the IMF's chief economist, Pierre-Olivier Gourinchas, told CNBC's Karen Tso on Tuesday.

Persons: Pierre, Olivier Gourinchas, Karen Tso Organizations: Monetary Fund, IMF Locations: Lujiazui, Shanghai, China, U.S, Brazil, India, Russia, Japan, United Kingdom

☆ China regulator to speed reform of smaller financial institutions
▼ + stars: | 2023-12-03 | by ( ) www.reuters.com time to read: +2 min

Li Yunze, director of China's National Financial Regulatory Administration (NFRA), speaks at the Lujiazui Forum in Shanghai, China June 8, 2023. REUTERS/Jason Xue/File Photo Acquire Licensing RightsBEIJING, Dec 3 (Reuters) - A key Chinese financial regulator said on Sunday it would accelerate reform of small and midsize financial institutions as it steps up its oversight of the sector. The National Financial Regulatory Administration (NFRA) will collaborate with the General Administration of Financial Supervision to tighten supervision of the financial industry other than the securities market, director Li Yunze said in an interview with state media Xinhua. It will promote small and midsize banking institutions to optimise their structure, improve quality and increase efficiency, Li said. “At present, the operation of China's financial sector is generally stable and the overall risk resistance is strong,” he said.

Persons: Li Yunze, Jason Xue, Li, ”, Mei Mei Chu, Christopher Cushing, William Mallard Organizations: China's, Financial Regulatory Administration, REUTERS, Rights, Administration, Financial, Xinhua, NFRA, Thomson Locations: Shanghai, China, Rights BEIJING

An electronic board shows Shanghai and Shenzhen stock indexes, at the Lujiazui financial district in Shanghai, China October 25, 2022. But the extent of the political and economic jitters merely mirrors other signs of a long-term China exit well beyond portfolio flows. Earlier this month, China recorded its first-ever quarterly deficit in "bricks and mortar" foreign direct investment (FDI). What's more, a multi-year aversion to China investments then risks colliding with deteriorating long-term economic growth dynamics - heightened by rising youth unemployment and dire demographics. Despite some recent upgrades of China growth forecasts, yet another business survey this week raised red flags.

Persons: Aly, Gina Raimondo, Nicholas Lardy, Xi, Lardy, What's, Morgan Stanley, Morgan Stanley's, Mike Dolan, Paul Simao Organizations: REUTERS, Official Monetary, Financial, Reuters, . Commerce, Peterson Institute for International Economics, Thomson Locations: Shanghai, Shenzhen, China, OMFIF, Europe, North America, India, Brazil, Beijing, U.S, Washington, San Francisco

An electronic board shows stock indexes at the Lujiazui financial district in Shanghai, China, March 21, 2023. REUTERS/Aly Song/File Photo Acquire Licensing RightsNov 7 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. This is their best run in a year, powered by easing financial conditions in the form of lower U.S. bond yields and a weaker dollar, and renewed faith in the U.S. economic 'soft landing' scenario. Having under-performed global and developed market benchmarks last week, Asian stocks could be set to outperform this week. Skeptical foreign investors will need more than one month of slowing imports and exports decline though.

Persons: Aly, Jamie McGeever, Goldman Sachs, Deepa Babington Organizations: REUTERS, Bank of Korea, Thomson, Reuters Locations: Shanghai, China, U.S, India, Asia, Taiwan, Philippines, Indonesia, Japan, Australia

☆ Asian shares track US futures higher, bonds hold gains
▼ + stars: | 2023-10-27 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

Overnight, the European Central Bank left interest rates unchanged as expected, sending the euro briefly to a two-week low. S&P 500 futures rose 0.4% while Nasdaq futures rallied 0.7%, driven by a 5% jump in Amazon shares in after-hours trading. In a statement after the U.S. close, the tech giant predicted higher holiday season sales and a stabilisation in its cloud business. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) bounced 0.6% on Friday after hitting a fresh 11-month low a day ago. Brent crude futures climbed 0.5% to $88.38 a barrel while U.S. West Texas Intermediate was at $83.58 a barrel, up 0.4%.

Persons: Aly, Hong, HSI, Nathaniel Casey, Evelyn, Goldman Sachs, Stella Qiu, Sam Holmes Organizations: REUTERS, Nasdaq, European Central Bank, Bank of Japan, Tokyo's Nikkei, Evelyn Partners, 1bp, CME, Brent, West Texas, Thomson Locations: Shanghai, China, SYDNEY, U.S, Asia, Pacific, Japan, East, Israel, Gaza

☆ Asian stocks fall, gold at over 2-month high as Middle East tension weighs
▼ + stars: | 2023-10-19 | by ( Ankur Banerjee | ) www.reuters.com time to read: +5 min

U.S. stocks ended sharply lower on Wednesday as elevated Treasury yields weighed, with investors assessing the latest batch of quarterly corporate results and forecasts. Tesla (TSLA.O) CEO Elon Musk said on Wednesday that he was concerned about the impact of high interest rates on car buyers as the company missed Wall Street expectations on third-quarter gross margin, profit and revenue. Meanwhile, Federal Reserve policymakers are signalling a pause in hiking interest rates for another couple months. A Reuters poll of economists indicated that the Federal Reserve will keep its key interest rate on hold on Nov. 1 and may wait longer than previously thought before cutting it. Spot gold was at $1,948.16 per ounce, just shy of $1,962.39 its highest since Aug. 1 touched on Tuesday.

Persons: Aly, Treasuries, Anderson Alves, Joe Biden, Alves, Elon Musk, Christopher Waller, Jerome Powell, Brent, Ankur Banerjee, Christopher Cushing Organizations: REUTERS, Rights, Japan's Nikkei, Gaza, HK, Reuters, Taiwan Semiconductor Manufacturing Co, Reserve, European Economics & Financial, Federal Reserve, OPEC, Thomson Locations: Shanghai, Shenzhen, China, Rights SINGAPORE, Asia, Pacific, Japan, U.S, Israel, China's, London, United States, Venezuela

☆ China funds look to Mideast cash as US investments wane
▼ + stars: | 2023-10-10 | by ( Summer Zhen | ) www.reuters.com time to read: +4 min

Seven China equity funds, including hedge funds and mutual funds, running more than $500 billion in combined assets, told Reuters they visited the Middle East this year to raise money, three of them for the first time. The search for new capital could affect Asia's hedge fund scene, where China firms account for more than half the market. "In the past perhaps the holy grail of capital raising was the U.S.," said Effie Vasilopoulos, co-Leader of law firm Sidley Austin's Asia-Pacific investment funds group. So that dynamic is leading many of our clients to the Middle East." However, sovereign funds in the Middle East have been large buyers.

Persons: Aly, Effie Vasilopoulos, Sidley, Steven Luk, Erin Wu, Wong Kok Hoi, Wong, Summer Zhen, Tom Westbrook, Jacqueline Wong Organizations: REUTERS, Seven, Reuters, FountainCap Research & Investment, OP Investment Management, POLITICO, Big U.S, ' Pension, California State Teachers, APS, Thomson Locations: Shanghai, Shenzhen, China, HONG KONG, Seven China, U.S, Asia, Pacific, Europe, Australia, Hong Kong, Texas, Singapore, Middle Eastern

An electronic board shows Shanghai and Shenzhen stock indexes, at the Lujiazui financial district in Shanghai, China October 25, 2022. "While the overall picture is grim, bearishness around Chinese equities may have reached a local peak and we therefore are refraining from cutting our exposure," said Dong Chen, head of Asia macroeconomic research at Pictet Wealth Management. SEEKING ALTERNATIVESOthers have meanwhile sought out opportunities in markets outside of China, but that trend is showing signs of ebbing. "With attitudes towards China currently so weak, equities valuations could be quite sensitive to signs that corporate fundamentals are starting to improve." ($1 = 7.2910 Chinese yuan renminbi)Reporting by Summer Zhen in Hong Kong and Rae Wee in Singapore; Editing by Tom Westbrook and Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, Janus Henderson, J.P, Dong Chen, Chi Lo, haven't, Alex Redman, teetering, Jasmine Duan, Patrick Garvin, Summer Zhen, Rae Wee, Tom Westbrook Organizations: REUTERS, BNP, Asset Management, Morgan Asset Management, Invesco, RBC, Reuters, Pictet Wealth Management, HK, RBC Investment Services, Thomson Locations: Shanghai, Shenzhen, China, HONG KONG, SINGAPORE, Asia, Pacific, India, Indonesia, Beijing, Hong Kong, Singapore

☆ Asia markets set for stronger open ahead of key data from China
▼ + stars: | 2023-09-15 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

SHANGHAI, CHINA - JUNE 08: Aerial view of skyscrapers standing at the Lujiazui Financial District at sunrise on June 8, 2022 in Shanghai, China. (Photo by Zhang Zhuoming/VCG via Getty Images) Vcg | Visual China Group | Getty ImagesAsia-Pacific markets are set to rise ahead of key economic data out of China, which could give clues on the trajectory of the world's second largest economy. China will release August data for its house prices, unemployment rate and retail sales, as well as urban investment. Futures for Hong Kong's Hang Seng index stood at 18,171, higher than the HSI's last close of 18,047.92. In Australia, futures for the S&P/ASX 200 also point to a higher open, at 7,283 compared to the last close of 7,186.5.

Persons: Zhang Zhuoming Organizations: Getty, Visual China, Nikkei Locations: SHANGHAI, CHINA, Shanghai, China, Asia, Pacific, Chicago, Osaka, Australia

U.S. Commerce Secretary Gina Raimondo's trip to China last month had promised some economic and trade detente between the two superpowers now at loggerheads. And none of the 222 funds polled expected China economic growth to be any higher next year than this - mirroring a recent Reuters survey of domestic and overseas banks and investors. As these sorts of surveys go, there's an awful lot in there that could spell "peak gloom". Indeed, shorting China equities was deemed the second "most crowded trade" behind long exposure to supercharged Big Tech stocks. Even if the economy turns, political catalysts for a return to China may be slow in coming.

Persons: Aly, Gina Raimondo's, it's, Jamie Dimon, Jay Clayton, Jenny Johnson, Franklin Templeton, Willem Sels, Mike Dolan, Sharon Singleton Organizations: REUTERS, . Commerce, Bank of, Big Tech, Reuters, Reuters Graphics Reuters, JPMorgan, Investments, The Ontario Teachers, Caisse, Franklin, HSBC Private Banking, Thomson Locations: Shanghai, Shenzhen, China, loggerheads, Wall, Asia, Silicon Valley, Hong Kong, Temasek, Bridgewater, Blackrock, India, Indonesia, Washington, United States

An electronic board shows Shanghai and Shenzhen stock indexes, at the Lujiazui financial district in Shanghai, China October 25, 2022. REUTERS/Aly Song/File Photo Acquire Licensing RightsSept 11 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. According to Goldman Sachs's real-time indexes, financial conditions in China, emerging markets and globally are now the tightest since last November. The economic data spotlight this week will shine on China. Money supply, loan growth, social financing (a broad measure of credit and liquidity in the economy), retail sales, industrial production, unemployment, house prices and fixed asset investment are all due for release by September 15.

Persons: Aly, Jamie McGeever, Goldman Sachs's, Diane Craft Organizations: REUTERS, U.S, Nasdaq, Thomson, Reuters Locations: Shanghai, Shenzhen, China, India, Beijing, Asia, Japan, Philippine, Indonesia, Malaysia

☆ Asia shares extend rally as China mood turns less bleak
▼ + stars: | 2023-09-04 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

An electronic board shows Shanghai and Shenzhen stock indexes, at the Lujiazui financial district in Shanghai, China October 25, 2022. There was relief that embattled property developer Country Garden won approval from its creditors to extend payments for an onshore private bond. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) added 1.0%, having climbed 2.3% last week. EUROSTOXX 50 futures added 0.3% and FTSE futures rose 0.4%. Central banks in Canada and Australia hold their own meetings this week and both are expected to hold rates steady.

Persons: Aly, Stocks, Goldman Sachs, Treasuries, Christine Lagarde, Brent firmed, Wayne Cole, Shri Navaratnam Organizations: REUTERS, Federal, Country Garden, Japan's Nikkei, Nasdaq, Holdings, Federal Reserve, European Central Bank, Thomson Locations: Shanghai, Shenzhen, China, U.S, SYDNEY, Beijing, United States, Asia, Pacific, Japan, Canada, Australia, Saudi Arabia

☆ Factbox: What are global companies saying about China's economy?
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +1 min

People cross a street near office towers in the Lujiazui financial district in Shanghai, China, February 28, 2023. REUTERS/Aly Song/File Photo Acquire Licensing RightsAug 29 (Reuters) - United States Commerce Secretary Gina Raimondo has said U.S. companies have raised concerns that China has become "uninvestible", pointing to fines, raids and other actions that have made it too risky to do business in the world's second-largest economy. Major global firms ranging from banks to chipmakers are taking a largely cautious stance on their China business amid a frail recovery of the country's economy from a pandemic slowdown. Following are comments from some of the top firms on their China business during the latest reporting season:Compiled by Savyata Mishra, Arunima Kumar, Niket Nishant, Granth Vanaik, Aditya Soni and Bhanvi Satija; Edited by Shinjini Ganguli and Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, Gina Raimondo, Savyata Mishra, Arunima Kumar, Niket Nishant, Granth Vanaik, Aditya Soni, Bhanvi, Shinjini Ganguli, Shounak Organizations: REUTERS, United States, Thomson Locations: Shanghai, China, U.S

A record 38 QDII funds had been launched this year until August 17, outpacing the 31 funds launched in 2022, Morningstar data shows. Tianhong, which is planning new QDII products, obtained a $120 million fresh QDII quota in July, less than it had hoped for. Rather than foreign capital selling China equities, this time it's Chinese investors’ outbound investment,” Liu said. HUGE DEMANDThe QDII program, launched in 2006, remains a key outbound investment channel for mainland Chinese investors, alongside the Qualified Domestic Limited Partnership (QDLP) programme. Tracy Liu, an individual investor working in the information technology industry, invested in an India-focused QDII fund in March.

Persons: Aly, Ivan Shi, Liu Dong, Becky Liu, Liu, ” Liu, Desiree Wang, Tracy Liu, Summer Zhen, Samuel Shen, Jason Xue, Vidya Ranganathan Organizations: REUTERS, Morningstar, Domestic Institutional, Nasdaq, Ben Advisors, Connect, Bond, U.S, Dow Jones, State Administration of Foreign Exchange, Tianhong, Management, Ant Financial, Standard Chartered Bank, Reuters, Qualified Domestic Limited, Asset Management Association of China, Guangfa NASDAQ, Technology, Morgan Asset Management, Morgan Asset Management China, Thomson Locations: Shanghai, Shenzhen, China, U.S, HONG KONG, SHANGHAI, Hong Kong, Vietnam, India, outflows, Japan, Russia

An electronic board shows Shanghai and Shenzhen stock indexes, at the Lujiazui financial district in Shanghai, China October 25, 2022. "It's pretty weak," said Sat Duhra, a portfolio manager at Janus Henderson who devises a macro score for countries by tracking seven factors including PMI surveys, real exchange rates, current accounts, growth estimates and liquidity. Even in Japan, the stock market success story of the year so far, portfolio manager Zuhair Khan at UBP Investments says he's shorting or avoiding companies reliant on China sales. However, I think more importantly, it has fallen short of initial expectations," said Jagdeep Ghuman, a portfolio manager for U.S. asset manager Nuveen. Reporting by Tom Westbrook and Rae Wee in Singapore, Dhara Ranasinghe in London and Summer Zhen and Xie Yu in Hong Kong.

Persons: Aly, Janus Henderson, Seema Shah, Zuhair Khan, Prashant Bhayani, it's, Jagdeep Ghuman, Nuveen, Tom Westbrook, Rae Wee, Dhara, Zhen, Xie Yu, Sam Holmes Organizations: REUTERS, Rights, BHP, PMI, Global Investors, UBP Investments, Vegas Sands, Wealth Management, U.S, Thomson Locations: Shanghai, Shenzhen, China, Rights SINGAPORE, London, Bangkok, Zealand, Europe, Thailand, Asia, Japan, Singapore, Hong Kong

An electronic board shows Shanghai and Shenzhen stock indexes, at the Lujiazui financial district in Shanghai, China October 25, 2022. REUTERS/Aly Song/File Photo Acquire Licensing RightsAug 28 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. As the week gets underway, asset markets across Asia yet again will be dominated by key economic indicators, market- and growth-supportive policy steps and diplomatic signals from China. The Asian market headwinds are strong and clear - financial conditions are tightening sharply, in large part due to the steady rise in U.S. Treasury yields. According to Goldman Sachs's financial conditions indexes, global, emerging market and Chinese financial conditions last week hit their tightest levels this year.

Persons: Aly, Jamie McGeever, Jackson, Jerome Powell, Christine Lagarde, Kazuo Ueda, Gina Raimondo, Goldman, Fed's MIchael Barr, Diane Craft Organizations: REUTERS, China Securities Regulatory Commission, . Commerce, Treasury, Higher, Thomson, Reuters Locations: Shanghai, Shenzhen, China, Asia, India, Indonesia, Vietnam, Beijing, Japan, U.S, Australia

☆ China halves stamp duty on stock trades to boost flagging market
▼ + stars: | 2023-08-27 | by ( ) www.reuters.com time to read: +2 min

An electronic board shows Shanghai and Shenzhen stock indexes, at the Lujiazui financial district, following the coronavirus disease (COVID-19) outbreak, in Shanghai, China October 25, 2022. REUTERS/Aly Song/File photo Acquire Licensing RightsBEIJING/SHANGHAI, Aug 27 (Reuters) - China halved the stamp duty on stock trading effective Monday in the latest attempt to boost the struggling market as a recovery sputters in the world's second-biggest economy. The finance ministry said in a brief statement on Sunday it was reducing the 0.1% duty on stock trades "in order to invigorate the capital market and boost investor confidence". Along with the finance ministry move, the China Securities Regulatory Commission (CSRC) is rolling out measures to shore up market confidence in investing in listed companies. China's leaders vowed late last month to reinvigorate the stock market - the world's second largest - which has been reeling as the post-pandemic recovery flags and a debt crisis in the property market deepens.

Persons: Aly, Xie Chen, CSRC, China's, Judy Hua, Joe Cash, Li Gu, William Mallard Organizations: REUTERS, Rights, Reuters, Shanghai Jianwen Investment Management, China Securities Regulatory Commission, Regulators, Ministry of Finance, State Council, Thomson Locations: Shanghai, Shenzhen, China, Rights BEIJING, SHANGHAI, Beijing

☆ Furious Chinese investors lodge complaints over trust firm's missed payments
▼ + stars: | 2023-08-18 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Aly Song/File Photo Acquire Licensing RightsBEIJING, Aug 18 (Reuters) - Angry investors in trust products of a leading Chinese shadow bank have lodged complaint letters with regulators, pleading with the authorities to step in after the big Chinese trust firm missed payments on dozens of investment products. "Every day, a large number of people gathered at business departments of Zhongrong Trust are praying for the firm can give an explanation to investors ... investors are immersed in unlimited horror and fear every day." In the letter to the NFRA , investors demanded that Zhongrong provide reports of the underlying assets of defaulted products. "We hope officials can attach great attention to Zhongrong Trust ... and not let this to become a milestone vicious economic event," the letter sent to the NFRA said. In the letter to the CCDI, investors complained that management of Zhongrong failed to fulfill their responsibilities and caused huge losses to investors.

Persons: Aly, Zhongrong, didn't, NFRA, Ziyi Tang, Ryan Woo, Sumeet Chatterjee, Kim Cogill Organizations: REUTERS, Rights, Trust Co, Investors, Financial Regulatory Administration, Central Commission, Reuters, Zhongzhi Enterprise Group, Zhongrong, Thomson Locations: Shanghai, China, Rights BEIJING, Zhongrong

The one unanimous conclusion they came to was that Beijing wants a greater state presence in these sectors. Kroeber says the crackdowns are about "defining what the state does, what the private sector does, and creating a more limited sandbox for the private sector to play in." That has left investors now picking the state over the private sector. The CCP's July Politburo meeting reinforced the message, with the top policymaking body pledging to put a floor under the property sector, help indebted local governments heal and boost consumer demand. Huang Yan, general manager of private fund manager Shanghai QiuYang Capital Co, said Beijing will crack down on any sector seen as increasing people's economic burden.

Persons: Aly, Jack, Arthur Kroeber, Kroeber, Zhang Kexing, Xi Jinping, Mao Zedong's, Thomas Masi, Masi, Xi, Nuno Fernandes, Fernandes, Huang Yan, Huang, Kumar Pandit, Pandit, Jason Xue, Ankur Banerjee, Vidya Ranganathan, Sam Holmes Organizations: REUTERS, Rights, Ant Group, CSI Medical Services, Beijing Tongrentang, HK, Poly, Beijing Gelei Asset Management, Communist Party's, Investors, Mao Zedong's Marxist, Boston, K Investment Management, Shanghai QiuYang, Somerset Capital, Thomson Locations: Shanghai, China, Rights SHANGHAI, HONGKONG, Beijing, New York, London, Singapore

And with China's post-COVID recovery running into the ground and suffering a deepening real estate bust, western investment curbs throw more sand in the wheels. A question now is whether a retreat of western money from emerging markets at least partly explains both their recent underperformance and that of western government bonds, in which emerging central banks and sovereign funds are heavily invested. The picture has not been much better in aggregate emerging bond indices, even if they have done marginally better than developed world counterparts, and worries over emerging high-yield and property linked bonds are rising. Have global investors high-tailed it from emerging markets already? If western money grows more wary and is increasingly warned off China and other selective emerging investments, will there be a mutual pullback of official emerging money from western bond markets?

Persons: Aly, Joe Biden, Morgan, Biden, crumb, Mike Dolan, Richard Chang Organizations: REUTERS, U.S, U.S ., Bank of, Institute for International Finance, Treasury, Reuters, Twitter, Thomson Locations: Shanghai, Shenzhen, China, Ukraine, Washington, Russia, United States, Beijing, Moscow, Taiwan, Brazil, India, South Africa, Hong Kong, Saudi Arabia, South Korea

REUTERS/Aly Song/File PhotoHONG KONG/NEW YORK, Aug 15 (Reuters) - Chinese fears of a spillover from missed payments on some shadow banking linked trust products and worsening consumer sentiment are expected to hasten a policy response to revive the country's cash-starved property sector. Zhongrong International Trust Co, which traditionally had sizable real estate exposure, has recently missed repayments on some investment products, fuelling contagion fears. 'CONTAGION'The trust sector had been a major fundraising channel for property developers seeking rapid expansion. The outstanding value of trust products invested in the property sector was 1.2 trillion yuan as of end-2022, down about 30% year-on-year. Still, exposure to the real estate sector varies from different trust firms.

Persons: Aly, Yan Wang, Nomura, Arthur Kroeber, Kamil Dimmich, Phillip Wool, Wool, Vidya Ranganathan, Laura Matthews, David Randall, Ziyi Tang, Sumeet Chatterjee, Alexander Smith Organizations: REUTERS, HONG KONG, Trust Co, Barclays, International Trust, South Capital LLP, China Equity ETF, Beijing, Thomson Locations: Shanghai, China, HONG, Zhongrong, Beijing, New York, London, Singapore, Summer Zhen

☆ China's July factory activity swings back to contraction, Caixin PMI shows
▼ + stars: | 2023-08-01 | by ( ) www.cnbc.com time to read: +1 min

China's factory activity swung to contraction in July, a private sector survey showed on Tuesday, with supply, demand and export orders all deteriorating as firms blamed sluggish market conditions at home and abroad. The Caixin/S&P Global manufacturing purchasing managers' index, or PMI, fell to 49.2 in July from 50.5 in June, missing analysts' forecasts of 50.3 and marking the first decline in activity since April. The Caixin survey showed manufacturing output shrank for the first time in six months while new orders saw the quickest reduction since December. New orders remained unchanged at makers of investment goods, but fell at producers of consumer and intermediate goods. Employment across the manufacturing sector fell for the fifth straight month in July, although the pace of job shedding eased from June.

Organizations: P Global, PMI Locations: Shanghai, Lujiazui, China

☆ Asia markets set to fall ahead of key economic data from China
▼ + stars: | 2023-07-17 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

SHANGHAI, CHINA - MARCH 01: Skyscrapers stand at the Pudong Lujiazui Financial District on March 1, 2022 in Shanghai, China. Asia-Pacific markets are set to fall on Monday as investors look ahead to key economic data out of China, including gross domestic product figures for the second quarter and industrial output numbers for June. In Australia, futures for the S&P/ASX 200 were at 7,264, lower than the index's last close of 7,303.1. The country will release unemployment figures later this week, which will give clues to the Reserve Bank of Australia's rate decisions. Elsewhere, Japan's markets are closed for a holiday, but more trade data will be released from South Korea, Singapore, and Indonesia.

Organizations: Pudong Lujiazui Financial, Beijing, Reserve Bank Locations: SHANGHAI, CHINA, Shanghai, China, Asia, Pacific, Australia, South Korea, Singapore, Indonesia

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