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☆ China stocks see best week since 2008 on stimulus impact as most Asia markets rise
▼ + stars: | 2024-09-27 | by ( Lim Hui Jie | ) www.nbcnews.com time to read: +4 min

Chinese markets clocked their best week in almost 16 years as the mainland’s CSI 300 rallied 15.7% this week, buoyed by several economic stimulus measures by the central bank. The last time the index saw a bigger weekly gain was the week ending Nov. 14, 2008. Hong Kong’s Hang Seng index recorded a weekly gain of 12.75%, making it the index’s best week since February 1998, according to FactSet data. Tokyo’s headline inflation rate eased to 2.2%, down from August’s 2.6%. A slate of fresh U.S. economic data also supported the market’s gains, with weekly jobless claims falling more than expected, pointing to a steady labor market.

Persons: Hong, PBOC, Shigeru Ishiba, Sanae Takaichi, Korea’s Kospi, Australia’s, ’ Organizations: CSI, People’s Bank of China, Google, Shanghai Stock Exchange, Reuters, Japan’s Nikkei, of Japan, U.S ., Micron Technology, Nasdaq, Dow Jones Industrial Locations: China, Shanghai, Asia, Pacific, Tokyo, August’s, U.S

☆ Pesto the chonky Australian penguin chick captivates Katy Perry and the internet
▼ + stars: | 2024-09-27 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +1 min

SYDNEY, Australia — Pesto the huge king penguin chick has drawn hundreds of visitors to an Australian aquarium, and now the bird can count Katy Perry as one of his biggest fans. Chocolate-brown and fluffy, Pesto is a 9-month-old king penguin that weighs 52 pounds, more than twice the combined weight of his parents. Most of Pesto’s weight comes from the brown fuzz that keeps penguin chicks warm through winter. Like all king penguins, Pesto is non-sexually dimorphic, which means he does not have externally visible traits that distinguish him from female penguins. The average parental care for a baby king penguin can span over a year.

Persons: Australia —, Katy Perry, Pesto ”, Michaela Smale, “ We’ve, ” Smale Organizations: Australian Football League, Channel Seven, Melbourne, Reuters Locations: SYDNEY, Australia, U.S, Melbourne

This article is part of “Dealing the Dead,” a series investigating the use of unclaimed bodies for medical research. Texas Senate Media ServicesThe Health Science Center did not comment on Parker’s plans for legislation. The Health Science Center suspended its body-donation program, fired the officials who led it and said it would stop accepting unclaimed bodies. The University of North Texas Health Science Center suspended its body-donation program and fired the officials who led it. Dallas County officials have said moving forward they won’t provide unclaimed bodies for research unless survivors choose to do so.

Persons: Sen, Tan Parker, Parker, “, ”, Andy North, Shelby Tauber, Alisa Simmons, Brenda Cloud, Victor Honey, Maddie McGarvey, NBC News Cloud, ” Cloud, ” Terrence Hayes, “ Mr, Honey, Al Sharpton, MSNBC’s, ” Sharpton, Thomas Champney, ” Champney, Eli Shupe, Tarrant, ” Shupe, Louisa Harvey, Michael Coleman, Michael, ” Harvey, Louisa Harvey ., Louisa Harvey Harvey, Harvey, she’s Organizations: NBC News, Republican, NBC, Fort, University of North Texas Health Science Center, Army, Texas, Media Services, Health Science Center, Dallas, Fort Worth National, U.S . Department of Veterans Affairs, Veterans, Health Science, University of Miami Miller School of Medicine, University of Texas Locations: Texas, Dallas, Tarrant, Fort Worth, North Texas, Mississippi, United States, Arlington

Harris is scheduled to make her first trip to the southern U.S. border in more than three years. “We do have a broken immigration system,” Harris said Wednesday in an interview with MSNBC. In discussing immigration, Harris has increasingly attacked Trump over his efforts to kill a bipartisan border funding deal this year. “She keeps talking about how she supposedly wants to fix the border,” Trump said Thursday at a news conference at Trump Tower. He’s skeptical of Harris’ tougher talk on immigration.

Persons: DOUGLAS, Kamala Harris, Harris, Joe Biden, ” Harris, It’s, Biden, Trump, “, Mike Johnson, didn’t, ”, ” Trump, John Ladd’s, John Ladd, Gabe Gutierrez, “ Trump, ” Miles, “ That’s, ” Danya Acosta Organizations: MSNBC, Border Patrol, NBC News, Republicans, Trump, NBC, Council, Republican Locations: Ariz, U.S, El Salvador, Guatemala, Honduras, Arizona, Cochise County, Douglas

Republicans stand a good chance of erasing the Democrats’ narrow 51-49 Senate majority in November, a hard reality that complicates Harris' transition planning. Members of Harris’ transition team have studied that one — the handoff from Ronald Reagan to George H.W. Harris' team is operating under an unusually compressed timeline and is still building the basic apparatus needed to vet potential hires and staff an administration. Last month, Harris' campaign appointed Yohannes Abraham to run the team that is preparing for a transfer of power. He came to his new role with direct experience, having been executive director of Biden’s transition in 2020.

Persons: WASHINGTON, Kamala Harris, Harris, who’ve, Joe Biden, Biden, undercutting, —, Barack Obama, Robert Gates, George W, Bush's, Gates, ”, It’s, Ronald Reagan, George H.W, George H.W . Bush, They've, Hillary Clinton, Obama, Donald Trump, Yohannes Abraham, Abraham, Trump, “, she’s, Max Stier, There’s, Christine Wormuth, Kathleen Hicks, Michèle Flournoy, Rosa Brooks, ” Brooks, ” Harris, William Burns, Burns, who've, he's, Rohini Kosoglu, Harris ’, Julianne Smith, Phil Gordon, Sens, Chris Murphy, Chris Coons, Linda Thomas, Greenfield, Samantha Power, Walz, Pete Buttigieg, Buttigieg, it’s “, Gina Raimondo, Joe ”, ” Raimondo, Raimondo Organizations: Republican, Biden, Senate, NBC, Trump, Pentagon, Democratic, Senate Democrats, Republicans, University of Virginia's, Association of Southeast Asian Nations, ASEAN, Partnership for Public Service, Army, CIA, White House, NATO, United Nations, U.S . Agency for International Development, Transportation, Biden's Cabinet, Fox News Locations: Washington, George H.W ., U.S, Indonesia, Connecticut, Delaware, United, Biden's

Ishiba, a straight-talking former defense minister, will take office on Tuesday when Prime Minister Fumio Kishida and his cabinet ministers resign and Ishiba is elected his successor by members of the LDP-controlled parliament. He is also contending with a complicated security environment in the Asia-Pacific region, where the U.S. has been strengthening ties with Japan and other allies in an effort to counter China’s growing power. After no candidate received a majority in the first round of voting, Ishiba won in a runoff against economic security minister Sanae Takaichi, 63, who would have been Japan’s first female prime minister. This was Ishiba’s fifth time running for party leader. In addition to being a realist, Ishiba is also an idealist who has never been tainted by scandal, Cucek said.

Persons: Shigeru Ishiba, Fumio Kishida, Ishiba, Hiro Komae, Kishida, Kishida “, ” Ishiba, Sanae Takaichi, Takaichi, ”, Michael Cucek, Cucek, ” Cucek, “, Lin Jian, Lin, Arata Yamamoto, Jennifer Jett Organizations: Liberal Democratic Party, LDP, Liberal Democratic Party’s, Getty, Temple University, NATO, U.S, Yasukuni, Foreign Ministry Locations: TOKYO, U.S, Ishiba, Asia, Pacific, Japan, North Korea, Tokyo, AFP, United States, Japanese, Tottori, South Korea, Philippines, Australia, China, Taiwan, Beijing, East Asia, Phuket, Thailand

Hurricane Helene made landfall near Perry, Florida, as a Category 4 storm with 140 mph sustained winds and higher gusts. Hurricanes are rated 1 through 5 on the Saffir-Simpson Hurricane Wind Scale based on their wind speed. Damage is exponential as wind speed increases, meaning a strong Category 3 storm could do up to 60 times as much damage as a weak Category 1 storm. Well-built homes will be heavily damaged, with most of the roof blown away. Most well-built homes will be destroyed, and many will be stripped to the foundation.

Persons: Helene Organizations: Hurricanes, Simpson Locations: Perry , Florida, Big Bend, “

Destruction in a area targeted by Israeli airstrikes in Lebanon's town of Saksakiyeh, on September 26, 2024. Mahmoud Zayyat/AFP/Getty ImagesIsrael said it is considering a US-led ceasefire proposal that would see a 21-day pause in fighting in Lebanon, as fears rise of a fully-fledged war between Israel and Hezbollah that risks escalating into a wider regional conflict. : President Joe Biden said the plan had been endorsed by the United States, Australia, Canada, the European Union, France, Germany, Italy, Japan, Saudi Arabia, the United Arab Emirates and Qatar. : Hezbollah has not yet commented on the proposed deal, and Lebanese caretaker Prime Minister Najib Mikati has denied reports of signing the framework for Lebanon. Media reports claimed earlier that Mikati signed a ceasefire proposal after meeting US Secretary of State Antony Blinken and envoy Amos Hochstein on the sidelines of the UN General Assembly.

Persons: Mahmoud Zayyat, Israel, Benjamin Netanyahu, Joe Biden, •, Najib Mikati, Mikati, Antony Blinken, Amos Hochstein, Netanyahu Organizations: Getty, United Nations General Assembly, European Union, United Arab, Media, UN, Assembly Locations: Lebanon's, Saksakiyeh, AFP, Lebanon, Israel, New York, United States, Australia, Canada, France, Germany, Italy, Japan, Saudi Arabia, United Arab Emirates, Qatar

☆ Dozens of children drown during Hindu festival in India
▼ + stars: | 2024-09-27 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +1 min

LUCKNOW, India — At least 46 people, most of them children, have drowned while bathing in rivers and ponds swollen by recent floods during the observance of a Hindu religious festival celebrated by millions in north India, authorities said Thursday. India has seen deadly stampedes during religious events in the past, but widespread drowning incidents during festivals are rare. Local media reported that some of the rivers and ponds in the state had been swollen by floods following heavy rains. Devotees were celebrating the annual festival of Jivitputrika Vrat, during which women fast for 24 hours and offer prayers for the well-being of their children. They also travel to rivers and ponds in their neighborhood to bathe, sometimes accompanied by their children.

Persons: Jivitputrika Vrat Locations: LUCKNOW, India, Bihar

A third of teens and young adults in the U.S. can’t afford or otherwise access menstrual products, according to new research from Children’s National Hospital in Washington, D.C. Some young people may skip school, sports or other social activities because of a lack of access to menstrual products. “This is impacting everyone.”Some states are passing legislation to increase access to menstrual products in schools. Are you able to access tampons or pads? “Just like toilet paper is readily available in all restrooms, we’d love to see improved access to free menstrual products everywhere.”

Persons: —, ”, Monika Goyal, Goyal, they’d, what’s, Shelby Davies, Davies, ” Davies, “, Meleah Boyle, ” Boyle, pediatricians, ” Goyal Organizations: Children’s National Hospital, Washington , D.C, Center, Children’s, American Academy of Pediatrics, National, Children’s Hospital of Philadelphia Locations: U.S, Washington ,, Orlando , Florida, Minnesota, Alabama , California , Colorado , Illinois, Maine, Maryland, New Mexico

A Trump campaign spokesperson referred questions about the agreement and Trump's involvement in the business endeavor to the Trump Organization. "Trump Watches are not designed, manufactured, distributed or sold by Donald J. Trump, The Trump Organization or any of their respective affiliates or principals," the website said. The website's FAQ section highlights the question, "Are these official watches by President Trump?" "These are only official Watches offered by President Trump and includes a replica of his famous signature!" Trump has promoted $60 branded Bibles in partnership with country music artist Lee Greenwood, and Trump family members have also launched a crypto platform.

Persons: WASHINGTON —, Donald Trump, Trump, Donald J, President Trump, Harris, Ammar Moussa, Trump’s, “ Donald Trump, “, Lee Greenwood Organizations: WASHINGTON, White, Trump Organization, TheBestWatchesonEarth, The Trump Organization, Trump Locations: Swiss

Taylor County expects to take a direct hit from the Category 4 storm, which is expected to make landfall Thursday night. Taylor County, in northern Florida near the Big Bend region, is home to 20,000 residents, Padgett said. Follow here for live updatesAs in other spots in Florida, mandatory evacuations were ordered for Taylor County, but Padgett estimated that as much as half of his population is choosing to stay put. Uber has offered to take Taylor County residents to shelters outside the county, Padgett said. Helene is the third major storm within a year for Taylor County, Padgett said, "But we're going to endure.

Persons: PERRY, Helene, Mark, Sheriff Wayne Padgett, Padgett, It's, We've, I've, ” Padgett, Uber Organizations: Sheriff, Taylor County Locations: Fla, Taylor, Taylor County, Florida, Bend

☆ China's ambitions for semiconductor self-sufficiency thwarted by lack of chipmaking tools
▼ + stars: | 2024-09-27 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +5 min

Making the most advanced semiconductors requires cutting-edge lithography scanners to print the small, complex circuit designs onto microchips. But the Dutch government has banned the sale of its most advanced equipment to China. "Recreating advanced lithography systems that took ASML decades to develop and commercialize is a tall order for any individual Chinese company," Triolo said. SHANGHAI, CHINA - NOVEMBER 8, 2023 - Visitors learn about lithography machines at the booth of ASML at the 6th CIIE in Shanghai, China, November 8, 2023. Meanwhile, the U.S. is not only restricting China's access to chips, but trying to boost its own industry thus further widening the technological gap.

Persons: Huai, Leping Huang, ASML, John Lee, Paul Triolo, Triolo, Lee, Camille Boullenois Organizations: Nurphoto, Getty, Huatai Securities, East, West Futures, Technological, China, DGA Group, ., Chips, Semiconductor Industry Association, Boston Consulting Group Locations: HUAI'AN, CHINA, Jiangsu province, China, U.S, . Netherlands, SHANGHAI, Shanghai, Taiwan

☆ I left Goldman Sachs to plan weddings for the ultra-rich. I do 4 key things to keep my clients — and their families — happy.
▼ + stars: | 2024-09-27 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: +6 min

Lelian Chew is the founder of The Atelier & Co, a Singapore-based luxury wedding planning company. I spent a decade at Goldman Sachs, working in Singapore and Hong Kong managing key relationships by flying to a different Chinese city each day. English wasn't his first language, so he misunderstood and thought I was starting a wedding planning business. He immediately asked me to help plan his son's wedding, insisting I take a look since I knew the family well. Many of our elder clients want to see their grandchildren uphold customs they cherish, like family crests and cultural elements.

Persons: Chew, Chew doesn't, —, Lelian Chew, Goldman Sachs, I, Lelian, it's Organizations: Service Locations: Singapore, Hong Kong, Indonesia, Maldives

☆ Russia is considering a law to fine people thousands of dollars for promoting a 'child-free' lifestyle
▼ + stars: | 2024-09-27 | by ( Joshua Nelken-Zitser | ) www.businessinsider.com time to read: +3 min

Russia is considering fines for those promoting a child-free lifestyle, according to a Putin ally. AdvertisementRussia's parliament is working on a new law that would fine people the equivalent of thousands of dollars for promoting a child-free lifestyle, according to a close ally of Russian President Vladimir Putin. He accused the so-called "child-free movement" of undermining the institution of family, which may be contributing to Russia's low birth rate. Russia's birth rate hit a 25-year low in the first half of 2024. Advertisement"A friendly and large family is the basis of a strong state," Volodin said in his Telegram post.

Persons: Putin, —, Vladimir Putin, Vyacheslav Volodin, Volodin, Nina Ostanina Organizations: Service, State Duma, Russia, Reuters, RIA Locations: Russia, Ukraine, Russian

☆ Wendy's is roasting McDonald's again. This time over broken McFlurry machines.
▼ + stars: | 2024-09-27 | by ( Nora Redmond | ) www.businessinsider.com time to read: +2 min

It took aim at McDonald's in its promotion, accusing its rival of having broken ice cream machines. Wendy's has previously criticized McDonald's for using frozen beef, sparking a public feud. AdvertisementThe Wendy's — McDonald's feud seems to be heating up again. In 2018, Wendy's launched a national TV ad campaign criticizing McDonald's for using frozen beef patties in its hamburgers. "Happy #NationalFrozenFoodDay to you for all the frozen beef that's sticking around in your cheeseburgers."

Persons: Wendy's, —, It's, McDonald's Organizations: Service, Business

☆ An OpenAI shake-up wouldn't just make Sam Altman richer — he'd have more control, too
▼ + stars: | 2024-09-27 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +5 min

Since 2019, the company has had what Sam Altman called an "unusual" hybrid structure. AdvertisementAfter operating under what Sam Altman called an "unusual" structure for more than four years, OpenAI is reportedly preparing to become a for-profit business. OpenAI could be structured as a public-benefit corporation, Bloomberg reported, an entity that balances profit with mission. An OpenAI spokesperson told the outlet the nonprofit entity "will continue to exist" and was core to its mission. OpenAI was established as a nonprofit in 2015, but in 2019, it created a "capped profit" subsidiary, OpenAI LP.

Persons: OpenAI, Sam Altman, Altman, —, Mira Murati, Anthropic, it's, Anat Alon, Beck, Alon, Eric Chaffee, Chaffee, OpenAI didn't Organizations: Service, Reuters, Bloomberg, CNBC, Elon, Microsoft, Case Western Reserve University's School of Law, Case Western Reserve University Locations: OpenAI, Delaware

☆ Athlos: Lucrative prizes won by world’s top athletes at inaugural women-only event
▼ + stars: | 2024-09-27 | by ( Ben Church | ) edition.cnn.com time to read: +2 min

CNN —Some of the world’s best track and field athletes competed for lucrative prizes on Thursday, as the inaugural women-only Athlos event got underway in New York. The prize money is twice what athletes currently win at the Diamond League finale, according to Reuters. And I said, ‘Great, I’m going to double it for one single race,’” Ohanian previously told Reuters. Earlier this month, the Diamond League announced it would increase its prize money for the 2025 season. The total prize money per discipline will now be between $30,000 and $50,000 at regular meetings and between $60,000 and $100,000 for the season-finale.

Persons: Alexis Ohanian, Serena Williams, “, ” Ohanian, Gabby Thomas, Brittany Brown, Patrick Smith, ” Brown, Faith Kipyegon, Marileidy Paulino, Ohanian, Athlos, Michael Johnson Organizations: CNN, Diamond League, Reuters, Triple, National Women’s Soccer League, Angel City FC, – Locations: New York

☆ European markets head for higher open as investors weigh global economic outlook
▼ + stars: | 2024-09-27 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

LONDON — European markets headed for a higher open on Friday as investors weighed the outlook for the economy and looked to fresh data. European stocks had climbed Thursday, with the pan-European Stoxx 600 closing 1.25% higher after being boosted by gains in Asia-Pacific markets. Those widely continued their climb on Friday, still buoyed by China's announcement of stimulus measures earlier in the week. Economists are expecting headline PCE to have risen 2.3% on an annual basis and 0.1% from the previous month. Back in Europe, preliminary inflation data for September is expected out of France, and the latest German unemployment data is also due.

Persons: Germany's DAX Organizations: CAC, MIB, LONDON, People's Bank of, PCE Locations: Asia, Pacific, People's Bank of China, U.S, Europe, France

☆ Gold, silver head for weekly gains on U.S. rate-cut momentum
▼ + stars: | 2024-09-27 | by ( ) www.cnbc.com time to read: +2 min

Gold and silver prices retreated on Friday from record highs, but were positioned for weekly gains on growing anticipation of another bumper U.S. interest rate cut this year, as markets awaited a key inflation report for additional guidance. Gold and silver prices retreated on Friday from record highs, but were positioned for weekly gains on growing anticipation of another bumper U.S. interest rate cut this year, as markets awaited a key inflation report for additional guidance. Silver prices surged due to bullion's strong performance and China's stimulus measures, though some analysts warn that the rally may fade due to concerns over industrial demand. The Federal Reserve's larger-than-usual half-percentage-point reduction last week ignited a rally in gold, which hit consecutive record highs and has gained about 1.8% so far this week. Gold prices are currently supported by anticipated U.S. Fed interest rate cuts and China's stimulus measures, both of them are weakening the dollar, said Kyle Rodda, financial market analyst at Capital.com.

Persons: Kyle Rodda Organizations: FedWatch, U.S, BMI Locations: U.S

☆ What it would take to remove embattled New York City Mayor Eric Adams from office
▼ + stars: | 2024-09-27 | by ( Alice Tecotzky | Lloyd Lee | ) www.businessinsider.com time to read: +4 min

NYC Mayor Eric Adams insisted that he will remain in office despite his indictment. However, the city's charter outlines two ways Adams could be forcibly removed from his position. AdvertisementAfter news broke that New York City Mayor Eric Adams was indicted on five criminal counts, many other politicians started calling on him to resign his post. The committee includes five members: New York City's top attorney, the comptroller, the City Council speaker, the borough president serving the longest consecutive term, and a deputy mayor that the mayor selects, the city charter states. If Adams is removed from office or resigns, Jumaane Williams, the city's public advocate, would serve as acting mayor.

Persons: Eric Adams, Adams, Kathy Hochul, —, Adrienne Adams, Donovan Richards, Brad Lander, Richards, Lander, Muriel Goode, Trufant, Goode, Randy Mastro, Fabien Levy, Jumaane Williams, Williams, Gracie Organizations: Service, New, New York City, Gov, York, City Council, City, Speaker, The New York Times Locations: New York, Gothamist , New York City, Lander, —

☆ Time for Japan political leaders to have 'new thinking' about economy
▼ + stars: | 2024-09-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt's time for Japan's political leaders to have 'new thinking' about the country's economySayuri Shirai of Keio University and a former board member at the Bank of Japan says that Japan's next prime minister has to do "much more" about the country's environmental and climate policies.

Persons: Sayuri Shirai, Japan's Organizations: Keio University, Bank of Japan

☆ Mark Zuckerberg should forget the Quest: Meta's Orion is the real game changer, tech analysts say
▼ + stars: | 2024-09-27 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +4 min

But some tech analysts contend people are most interested in truly wearable tech, like Orion. Quest is limiting because of its bulk — and Orion AR glasses are an improvement, the analysts said. Some said they're persuaded that augmented-reality wearable glasses like Orion have more potential than mixed-reality headsets, like the bulky Quest. Meta's Quest, pictured in May, doesn't have as much potential as its new Orion glasses, some analysts say. AdvertisementHe said that's why he likes Zuckerberg's vision of more easily wearable tech, like Orion.

Persons: —, Mark Zuckerberg, they're, Zuckerberg, Gene Munster, Munster, doesn't, It'll, Justin Post, Meta hasn't, Ben Thompson, Andrew Bosworth, Orion Organizations: Meta, Service, Orion, Quest, Deepwater Asset Management, Munster, Orion . Bank of America Locations: Orion .

☆ A Russian teen got 15 years in prison for donating crypto to a pro-Ukraine paramilitary unit: report
▼ + stars: | 2024-09-27 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

A Russian teen was given 15 years for donating to the Freedom of Russia Legion, local media reported. AdvertisementA Russian 19-year-old was sentenced to 15 years in prison for donating to a pro-Ukrainian paramilitary unit, independent outlet Mediazona reported. Russian daily Kommersant reported at the time that the teen had tried sending the funds via cryptocurrency. Yakovlev isn't the first Russian citizen to be sentenced to over 10 years in prison for donating to pro-Ukraine groups. AdvertisementIn August, 33-year-old amateur ballerina Ksenia Khavana was reported by Russian media to have been sentenced to 12 years in prison for donating $51 to a charity supporting Ukraine.

Persons: Danila Yakovlev, —, Yakovlev, Ksenia Khavana, Vladimir Putin Organizations: of Russia Legion, Service, Kremlin, Kommersant, Russian, Eastern Locations: Siberia, Ukrainian, Biysk, Altai Krai, cryptocurrency, Russia's, Russian, Ukraine

☆ French tycoon gains $17 billion from China’s economic stimulus push
▼ + stars: | 2024-09-27 | by ( Juliana Liu | ) edition.cnn.com time to read: +4 min

But by the end of the day, his net worth jumped by $17 billion to $201 billion, the index reported, calling it his third-biggest daily increase ever. That market, which accounted for 31% of total revenue last year, is dominated by China. Hong Kong’s benchmark Hang Seng index has added just over 12% so far this week, while mainland China’s blue-chip CSI300 has gained more than 15%. However, experts urged investors to be cautious as officials must still come up with ways of stabilizing the property market, which once accounted for as much as 30% of economic activity. It began to cool in 2019 and fell into a deep trough about two years later, after a government-led clampdown on developers’ borrowing.

Persons: Bernard Arnault isn’t, Arnault, LVMH, “, Nomura, Xi Jinping, Pan Gongsheng, Pan Organizations: Hong Kong CNN, LVMH, Bloomberg, Markets, People’s Bank of China Locations: China, Hong Kong, LVMH, Paris, Asia, “ Beijing

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