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☆ China Military Says US Destroyer in Taiwan Strait 'Hyped' up Passage
▼ + stars: | 2024-01-24 | by ( Jan. | At P.M. | ) www.usnews.com time to read: 1 min

BEIJING (Reuters) - China's military said it organized troops to follow and monitor a U.S. destroyer that transited through the Taiwan Strait on Wednesday, according to a statement. A spokesperson for the Eastern Theater Command of the People's Liberation Army said the USS John Finn destroyer "openly hyped" up the passage, in a statement released late Wednesday. "Recently, the U.S. military has frequently carried out provocative acts and maliciously undermined regional peace and stability. The troops in the theater are on high alert at all times and resolutely defend national sovereignty," the spokesperson said. (Reporting by Bernard Orr and Shanghai newsroom; Editing by Chris Reese)

Persons: John Finn, Bernard Orr, Chris Reese Organizations: Eastern Theater Command, People's Liberation Army, U.S . Locations: BEIJING, U.S, Taiwan Strait, Shanghai

BANGKOK (AP) — Asian shares were mixed on Wednesday after Japan reported its exports jumped nearly 10% in December, though shares in Tokyo declined. Hong Kong’s Hang Seng surged 2% to 15,569.39, helped by gains in technology companies like e-commerce giant Alibaba, which surged 3.8%. The index rose 0.3% to 4,864.60. United Airlines flew 5.3% higher after it also reported stronger profit for the last three months of 2023 than analysts expected. Among Tuesday’s headliners was Verizon Communications, which rose 6.7% after beating analysts’ profit estimates.

Persons: Wang Jiangjun, Hang Seng, ” Gabriel Ng, India's Sensex, Gamble, D.R, Horton, Brent Organizations: Japan, China Securities Regulatory Commission, Capital Economics, Nikkei, Bank of, Nasdaq, Dow Jones, Procter, United Airlines, Boeing, Max, Tesla, Intel, Verizon Communications, General Electric, Analysts, Federal Reserve, Treasury, New York Mercantile Exchange, U.S Locations: BANGKOK, Tokyo, China, Shanghai, Bank of Japan, South Korea, Australia, Bangkok

☆ Nvidia's Jensen Huang sheds his biker chic look to dance in a red floral vest during a visit to China
▼ + stars: | 2024-01-24 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Read previewAs the cofounder and CEO of Nvidia, Jensen Huang is known for building the company into the world's leading AI chipmaker. AdvertisementNvidia CEO Jensen Huang visited the company's offices in Shanghai, Beijing, and Shenzhen last week, taking part in year-end festivities. He engaged in the traditional twist Yangge, a popular rural folk dance in northeast China, wearing a traditional flower-patterned vest. Huang's trip to China came amid intensifying rivalry between Washington and Beijing over a range of issues, including tech and geopolitics. The restrictions thrust Nvidia into a difficult position since China has typically accounted for about one-fifth of the company's revenue.

Persons: —, Jensen Huang, He's, Huang, SCMP, Nvidia’s, …, Biden Organizations: Service, Nvidia, Business, Business Insider, Bloomberg, China Morning Locations: China, Shanghai, Beijing, Shenzhen, Washington

☆ China opens the world's deepest and largest underground laboratory 7,800 feet below a mountain to hunt for dark matter
▼ + stars: | 2024-01-23 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +4 min

China has just opened the deepest and largest underground laboratory in the world. AdvertisementChina has opened the biggest and deepest underground laboratory in the world in a bid to uncover the secrets of dark matter. That leaves us with one overarching theory; that there is another type of matter acting on the universe, or so-called dark matter. CJPL hosts the Particle and Astrophysical Xenon Experiments (PandaX) and the China Dark Matter Experiment. "There is enough replication already," he said, adding that it may be better to try to find a new approach in the hunt for dark matter.

Persons: —, Gran, Ning Zhao, Juan Collar Organizations: Service, Gran Sasso National Laboratory, Nature News, Nature, Sanford Underground Research, Shanghai Jiao Tong, University of Chicago Locations: China, China's Sichuan Province, CJPL, Sichuan, Italy, , South Dakota, Shanghai, Shanghai Jiao Tong University, Illinois

☆ China's stock market is in a 3-year slump and Beijing's flip-flops are adding to the confusion
▼ + stars: | 2024-01-23 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

China's stock market lost more than $6 trillion in valuation from 2021 through last week. The market is confused by Beijing's policy stance on the economy, per Nomura economists. AdvertisementA brutal downcycle in China's stock market has wiped out over $6 trillion in valuations since 2021 — and policymakers in Beijing may be adding to the turmoil. "There has been increasing confusion over Beijing's policy stance on the economy," wrote Nomura economists in a Monday note seen by Business Insider. While China's stock market is still in the dumps, some see opportunities ahead.

Persons: —, Bloomberg's, Xi Jinping's, Ji Min Organizations: Bloomberg, Nomura, Service, CSI, People's Bank of China, Business, Economic Work, China Morning Locations: Beijing, China, Hong Kong, Shanghai, Shenzhen

The fishermen, led by Saligan, reported to the Philippine coast guard that Chinese coast guard personnel drove them away from the disputed Scarborough Shoal off the northwestern Philippines on Jan. 12 and ordered them to dump their catch of fish and seashells back to the sea. However, five Chinese coast guard personnel, three of them armed with steel batons, followed by boat, alighted on the islet and ordered the fishermen to leave. Go away,” Saligan said he told the Chinese coast guard personnel, who he said insisted that they leave the shoal immediately. They wanted us to return our catch to the sea,” Saligan told a small group of journalists, including from The Associated Press, in Manila. Philippine coast guard spokesman Commodore Jay Tarriela said the written statements and video submitted by Saligan and his men have been validated as accurate by the coast guard.

Persons: Joely Saligan, Manila’s, Saligan, ” Saligan, “, Commodore Jay Tarriela, ” Tarriela, Tarriela, Thomas Shoal, Joeal Calupitan, Aaron Favila Organizations: Scarborough, The Associated Press, China, United, Associated Press Locations: MANILA, Philippines, China, Shanghai, Beijing, Manila, Washington, Philippine, Scarborough Shoal, South China, United States, Asia, U.S

☆ Procter & Gamble revenue rises 3%, short of expectations
▼ + stars: | 2024-01-23 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

A Procter & Gamble (P&G) logo is seen during the 6th China International Import Expo (CIIE) at the National Exhibition and Convention Center (Shanghai) on November 7, 2023 in Shanghai, China. Procter & Gamble on Tuesday reported mixed quarterly earnings and revenue for its fiscal second quarter. Shares of the company rose less than 1% in premarket trading. Excluding items, the company earned $1.84 per share. Net sales rose 3% to $21.44 billion.

Persons: Gamble Organizations: Procter, Gamble, China, National Exhibition, Convention Center, LSEG Locations: Shanghai, China

☆ Why Chinese stocks have lost $6 trillion in 3 years: everything you need to know
▼ + stars: | 2024-01-23 | by ( Laura He | ) edition.cnn.com time to read: +8 min

Hong Kong CNN —Chinese shares haven’t just had a bad start to 2024. The astonishing losses, reminiscent of the last Chinese stock market crash of 2015-2016, highlight a crisis of confidence among investors concerned about the country’s future. But on the same day, major state-owned banks moved to support the Chinese yuan, in order to prevent the currency from falling too fast as Chinese shares plunged, according to a Reuters report, citing unnamed sources. Topics related to the “market plunge” and “China’s stock market rescue” were trending on Weibo on Tuesday. “I’m sad about today’s stock market performance,” Hu Xijin, former editor-in-chief for state newspaper Global Times, posted on Weibo on Monday.

Persons: It’s, “, Goldman Sachs, Wall, Li Qiang, ”, Nomura, bedeviling, Beijing’s, Li, Ken Cheung, ” Hu Xijin, “ Hu Organizations: Hong Kong CNN, Reuters, Bloomberg, Monday, People’s Bank of China, ”, Big Tech, Xinhua, Hong, Mizuho Bank, Global Times Locations: China, Hong Kong, Shanghai, Shenzhen, Japan, Asia, Beijing, US, Weibo

It said China plans to tap offshore funds held by Chinese state-owned enterprises and also local funds. Elsewhere in Asia, South Korea's Kospi rose 0.6% to 2,478.61 and Australia's S&P/ASX 200 added 0.5% to 7,514.90. ADM also said it expects to report profit for the full year of 2023 that’s below what analysts were forecasting. That in turn has relaxed the pressure considerably on the stock market and helped it to rip higher. In other trading, U.S. benchmark crude oil rose 9 cents to $74.85 per barrel in electronic trading on the New York Mercantile Exchange.

Persons: Seng, Tan Boon Heng, “, ” Tan, Sunoco, Archer Daniels Midland, Tesla Organizations: Bloomberg, Mizuho Bank, Nikkei, Bank of Japan, U.S ., Dow Jones, Nasdaq, Technologies, NuStar Energy, ADM, American Airlines, Intel, Procter, Gamble, Federal Reserve, Treasury, New York Mercantile Exchange, Brent Locations: BANGKOK, Asia, Hong Kong, Shanghai, Beijing, China, South, U.S

☆ Premarket stocks: The world is a mess and Wall Street isn’t paying attention
▼ + stars: | 2024-01-23 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

But geopolitical tensions are growing and Wall Street appears to be underestimating their potential impact on the global economy and markets. The United States and China are squabbling about trade, particularly high-powered AI chips that both believe carry consequences for national security. Less trade could mean lower supplies to meet demand — and that could be bad news for inflation around the world. Bank of America also gave geopolitical risk a top spot on its list of surprises that could affect markets in 2024. It’s the worst start to a year for Chinese stocks since 2016, when investors were ditching their holdings following a market crash in 2015.

Persons: ”, “, Jamie Dimon, dory, he’s, Anna Cooban, Laura He, Hong, Premier Li Qiang, Ken Cheung, Catherine Thorbecke Organizations: New, New York CNN, Dow Jones, Federal Reserve, BlackRock, Shipping, CNBC, Economic, Bank of America, Center for Strategic, International Studies, Apple, Google, Microsoft, Meta, Nvidia, “, Shenzhen Component, Premier, Mizuho Bank, MIT’s Computer, Artificial Intelligence Locations: New York, Russia, Ukraine, United States, China, Taiwan, Suez, Iranian, Pakistan, Iran, Europe, Asia, Drewry, Yemen, Davos, Switzerland, Wall, Shanghai, Shenzhen

☆ Chinese stocks are having their worst start to a year since 2016
▼ + stars: | 2024-01-22 | by ( Anna Cooban | Laura He | ) edition.cnn.com time to read: +5 min

The Shenzhen Component Index, a tech-heavy benchmark, had its worst day in nearly two years, plunging 3.5%. It’s the worst start to a year for Chinese stocks since 2016, when investors were ditching their holdings following a market crash in 2015. The country’s economy grew by 5.2% last year. That beat government projections but is still one of China’s worst economic performances in over three decades. The International Monetary Fund forecasts the country’s economic growth to slow to 4.2% this year.

Persons: Ken Cheung, ”, Europe’s, Premier Li Qiang, Brian Martin, Daniel Hynes, Li, “, ” Stephen Innes, managing Organizations: Hong Kong CNN, Shenzhen Component, Mizuho Bank, CSI, Nikkei, Premier, Economic, ANZ Research, Monetary Fund, China’s Commerce Ministry, Investors Locations: Hong Kong, Beijing, Shanghai, Shenzhen, China, United States

☆ Why China poses a growing threat to the U.S. auto industry
▼ + stars: | 2024-01-22 | by ( Michael Wayland | ) www.cnbc.com time to read: +7 min

Tesla CEO Elon Musk, whose company operates a large plant in China, has said Chinese automakers are the greatest competitors for his Texas-based company. "They were 26% [market share] a few years ago, up to more than 50% in 2022 and headed towards two-thirds by the end of the decade." Chinese companies have begun expanding into Mexico, Europe and elsewhere, Wakefield said. The EU believes Chinese EVs are undercutting the prices of local models by about 20% in the European market. The influx of Chinese EVs has spurred the European Union to launch into government support for the industry.

Persons: —, Carlos Tavares, Elon Musk, Tesla, Musk, BYD, Massimo Pinca, Reuters BYD, Kristin Dziczek, Mathew Vachaparampil, Bernstein, Eunice Lee, Mark Wakefield, Evelyn Cheng, hasn't, Wakefield, That's Organizations: GM, Shanghai International Automobile Industry, National Exhibition, Convention Center, Visual China, Getty, DETROIT, American, of, SAIC, Dongfeng, General Motors, U.S . Bureau, Analysis, America —, Chrysler, America's GM, Ford Motor, automakers, The New York Times, Economist, Reuters, Federal Reserve Bank of Chicago's, Caresoft, Overseas, Chicago, CNBC, European Union, EU, Union, Volvo, Karma, Ford, U.S, Buick, Lincoln Nautilus Locations: Shanghai, U.S, of China, Asia, Europe, China, Japan, Nio, Mexico, Korea, Germany, Beijing, Texas, Turin, Italy, Federal Reserve Bank of Chicago's Detroit, AlixPartners, Russia, America

☆ These charts show how much traffic has plunged in the Suez and Panama canals — and the potential impact on inflation
▼ + stars: | 2024-01-22 | by ( Aruni Soni | ) www.businessinsider.com time to read: +3 min

Read previewThe number of vessels passing through the Suez Canal and Panama Canal have dropped 50% from normal levels, according to Apollo Management's top economist. AdvertisementSuez Canal slowdownAbout 12% of global trade passes through the Suez Canal, according to an estimate from the US Naval Institute. Related stories"Normally, 200 ships travel through the Suez Canal from south to north over a week, but that number has recently declined to 100," Sløk wrote. Suez Canal traffic is down 50% APThe trouble in the Suez Canal has been ratcheting up as Yemen-based Houthi rebels have been launching attacks against ships in the Red Sea, forcing some ships to take longer — and costlier — detours. And although goods inflation has been tumbling, higher shipping costs could send that back up again if they continue to follow recent trends.

Persons: —, Torsten Sløk, Sløk, Thierry Wizman Organizations: Service, Business, US Naval Institute, Apollo, Container, Shipping, Apollo Management, Macquarie Locations: Suez, Panama, Yemen, Red, Shanghai, Rotterdam, Drewry

☆ Death Toll in China Landslide Rises to 11, Rescuers Still Search for Missing
▼ + stars: | 2024-01-22 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +2 min

BEIJING (Reuters) - The death toll from a landslide in China's Yunnan province rose to 11 on Tuesday as rescue workers battled freezing temperatures and snow to locate dozens of missing people. Rescuers worked through the night sifting deep mounds of earth at the site of the landslide in Zhenxiong County, state-owned China Central Television (CCTV) reported on Tuesday. After the landslide hit on Monday, at least 47 people from 18 households were reported missing, CCTV said. Eight of the missing were found dead on Monday afternoon, according to Zhaotong Daily, a local state-owned media outlet. "The mountain just collapsed, dozens were buried," a man surnamed Gu, who witnessed the landslide, told the state-owned TV station for the neighbouring province of Guizhou.

Persons: Rescuers, Gu, Bernard Orr, Shri Navaratnam Organizations: China Central Television, Sichuan Daily Newspaper Press Locations: BEIJING, China's Yunnan, Zhenxiong County, Zhaotong, Guizhou, Shanghai

HONG KONG (AP) — Shares rose in most Asian markets Monday after Wall Street returned to record heights Friday, while Hong Kong’s benchmark dropped more than 2%, hovering near a 15-month low. Tokyo’s Nikkei 225 index gained 1.2% to 36,376.50. Wall Street's run-up was driven in part by hopes for rate cuts as U.S. inflation remained tame. Treasury yields have already relaxed significantly on expectations for rate cuts, and that helped the stock market’s rally accelerate sharply in November. The Fed itself has hinted that rate cuts are coming, though some officials have indicated they may begin later than the market is hoping for.

Persons: Australia’s, that’s, Brent Organizations: Wall, Hong, Nikkei, Bank of Japan, People’s Bank of China, Dow Jones, Nasdaq, Taiwan Semiconductor Manufacturing Co, Broadcom, Texas Instruments, U.S Locations: HONG KONG, U.S, Hong Kong, Shanghai, South Korea, Bangkok, Taiwan

☆ China vs. India? Where one Asia investment manager is buying in a world of uncertainty
▼ + stars: | 2024-01-21 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

India stocks have run up so high that China looks relatively attractive, said Abrdn's Xin-Yao Ng, Singapore-based investment manager of Asian equities. Until the Chinese economy rebounds, his strategy is to pick stocks. Chinese stocks have dropped over the last several months, with the Shanghai Composite trading near lows not seen since the early months of the pandemic in 2020. All this follows a year in which mounting concerns about China's economy and lack of stimulus have kept investors on the sidelines. But for China's economy overall, a slew of concerns from geopolitics to an aging population remain.

Persons: Abrdn's Xin, Yao Ng, Abrdn's Ng, Ng, Li Qiang, he's, Abrdn, We've Organizations: Shanghai, Equity Fund, Eye, Nike Locations: India, China, Singapore, Davos, Mindray

How Houthi Attacks Have Upended Global ShippingShipping routes before attacks After attacks EUROPE ASIA Suez Canal Red Sea Gulf of Aden Malacca Strait AFRICA Area of Houthi attacks Continued traffic South Atlantic Ocean Indian Ocean Ships diverted after attacks Cape of Good Hope Shipping routes before attacks After attacks EUROPE ASIA Suez Canal Gulf of Aden Red Sea AFRICA Area of Houthi attacks Continued traffic South Atlantic Ocean Indian Ocean Ships diverted after attacks Cape of Good Hope Shipping routes before attacks After attacks EUROPE Suez Canal Gulf of Aden Red Sea AFRICA Area of Houthi attacks Continued traffic Ships diverted after attacks Cape of Good Hope Note: To show the changing paths of ships that regularly traverse the Red Sea, 3,461 cargo vessels recorded at entrances to the Red Sea in the last three months are shown. Those detours, and the Houthi attacks, have persisted despite airstrikes by the United States and its allies against the Houthis. Houthi attack involving commercial vessels Other Houthi attacks in the Red Sea Three commercial vessels were struck in one day on Dec. 3. Nov. 15, 2023 Dec. 1 Dec. 15 Jan. 1, 2024 Jan. 15 Houthi attack involving commercial vessels Other Houthi attacks in the Red Sea Nov. 15, 2023 Armed Houthi fighters boarded a commerical vessel. The Houthi attacks have delayed China’s annual surge in exports before its factories are idled next month for the Lunar New Year.

Persons: Cape, Jan, JPMorgan Chase, Port Said Organizations: Global Shipping Shipping, Atlantic, Ships, Good Hope Shipping, Shipping, United States Central Command Shipping, Ikea, East, JPMorgan, Maersk, U.S . Energy Information Administration, Rotterdam EUROPE Venice, Good Hope, EUROPE Venice, International Monetary, Trade, Galaxy Leader, U.S . Navy, America Locations: ASIA Suez, Aden Malacca Strait AFRICA, ASIA Suez Canal Gulf, Aden Red, Suez Canal Gulf, Suez, Africa, Yemen, Israel, Gaza, United States, U.S, Asia, Europe, China, Northern Europe, East Coast, Maersk Hong Kong, The Singapore, Singapore, Slovenia, Port Said, Egypt, Port, Russia, Ukraine, India, Rotterdam EUROPE, Rotterdam EUROPE Venice Barcelona, Istanbul ASIA SYRIA LEBANON IRAN ISRAEL IRAQ Strait, Hormuz GAZA Suez, Kuwait, Red, Mumbai Malacca, YEMEN AFRICA, Aden, Good, Good Hope EUROPE ASIA SYRIA LEBANON ISRAEL IRAN IRAQ GAZA Suez, Strait, Hormuz Red, YEMEN, EUROPE, EUROPE Venice Tokyo Barcelona, Istanbul Shanghai ASIA SYRIA LEBANON IRAN ISRAEL IRAQ GAZA, Hormuz Hong, Suez Canal Kuwait, AFRICA Red, Mumbai Bangkok YEMEN Malaca, Istanbul Shanghai SYRIA LEBANON IRAN ISRAEL IRAQ ASIA GAZA, Suez Canal AFRICA Kuwait City Red, Red Sea, Beijing

☆ Fire in China school dorm kills 13 students
▼ + stars: | 2024-01-20 | by ( ) www.cnbc.com time to read: +1 min

The fire broke out on Friday night at Yingcai School in Yanshanpu Village, near Nanyang City in Henan province, China Central Television Station and Xinhua News Agency said. The dead were third graders at an elementary school, according to China Newsweek, a weekly magazine published by China News Service, the second largest Chinese news agency after Xinhua. A fire in a school dormitory in central China killed 13 students and injured another person, Chinese state media reported on Saturday. Yingcai is a private boarding school with a kindergarten and an elementary school, said The Paper, a Shanghai government-backed news outlet. The school gives students a break every two weeks but this was not a break weekend, The Paper said, citing several local residents.

Persons: Yingcai Organizations: Yingcai, China Central Television Station, Xinhua News Agency, China Newsweek, China News Service, Xinhua, Firefighters, Getty Images Locations: Yanshanpu Village, Nanyang City, Henan province, China, CHONGQING, CHINA, Chongqing, Shanghai

HONG KONG (AP) — Asia markets mostly advanced Friday after Wall Street recouped most of the week's earlier losses and Japan reported slowing inflation, which may keep its ultra-low interest rates steady. Japan’s inflation slowed for a second straight month, increasing the chance that the Bank of Japan will keep its ultra-low interest rates unchanged at its meeting next week. Hong Kong stocks were on track for their third consecutive week of losses as investors remain worried about the gloomy economic prospects. The market was broadly steadier as Treasury yields in the bond market slowed their jump from earlier in the week. On the losing end of Wall Street were several financial companies that reported weaker results for the end of 2023 than analysts expected.

Persons: Australia’s, Taiwan’s Taiex, homebuilders, KeyCorp, Brent Organizations: —, Nikkei, Bank of Japan, Taiwan Semiconductor Manufacturing, Dow Jones Industrial, Nasdaq, Big Tech, Apple, Broadcom, Federal Reserve, Treasury, Discover Financial Services, U.S Locations: HONG KONG, — Asia, Japan, Hong Kong, Shanghai, South Korea, Bangkok, United States

☆ China's working age population is shrinking
▼ + stars: | 2024-01-19 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Many Meituan food delivery workers are lining up to make preparations in Shanghai, China, on January 14, 2024. (Photo by Costfoto/NurPhoto via Getty Images)BEIJING — China's working age population is shrinking as a share of the total number of people in the country, according to official data released Wednesday. People ages 16 to 59 accounted for 61.3% of mainland China's population last year, down from 62% the prior year, National Bureau of Statistics data showed. A shrinking working age ratio means fewer people have to support a larger share of the population, even as the number of people in China overall declines. China's total population dropped by more than 2 million people to 1.41 billion in 2023 from the prior year.

Organizations: Getty Images, National Bureau Locations: Shanghai, China, BEIJING

☆ BYD: Why Hungary and Mexico could be key to the Chinese carmaker’s global domination
▼ + stars: | 2024-01-19 | by ( Michelle Toh | ) edition.cnn.com time to read: +9 min

The cars come from BYD, the Chinese carmaker that is backed by Warren Buffett and has surpassed Tesla as the world’s biggest seller of electric vehicles (EVs). 1," a shipping carrier vessel intended to export BYD vehicles, at Yantai port in eastern China's Shandong province in January. BYD Mexico did not respond to a request for comment. “The US government is not going to like that Mexico is creating a back door.”A BYD electric vehicle, operated by Vemo taxi, in Mexico City in November. But as it continues to grow overseas, BYD will have to take a more localized approach, analysts say.

Persons: Warren Buffett, Tesla, BYD, Viktor Orbán’s, Yucatán, what’s, Elon Musk, Tu Le, carmaker, Hungary —, Matthias Schmidt, ”, “, Schmidt, Bill Russo, it’s, Le, Mariceu Ethrall, It’s, “ It’s, ‘ We’re, ’ ”, Stella Li, México, ” Li, Wang Chuanfu, BYD “, Russo, they’ve, ” Russo Organizations: Hong Kong CNN, Xinhua, Getty, CNN, Tesla, BMW, Audi, European Union, Schmidt Automotive Research, EV, European Commission, Bloomberg, BYD, El Locations: Hong Kong, China, Europe, BYD, Shenzhen, Germany, Netherlands, Hungary, Mexico, North America, China's Shandong, Szeged, Komárom, France, Shanghai, Hungarian, United States, Canada, Mexico City, Mexican, Dutch, Rotterdam, California, Brazil, Indonesia, Thailand, Uzbekistan, Macao, Taiwan, Japan, what’s

TOKYO (AP) — Asian shares traded mixed Thursday as pessimism spread among investors about any imminent interest rate cut in the United States. Wall Street slipped following another signal that it may have gotten too optimistic about when the Federal Reserve will deliver the cuts to interest rates. Yields climbed after a report showed sales at U.S. retailers were stronger in December than economists expected. Higher yields can crimp profits for companies, while also making investors less willing to pay high prices for stocks. Higher yields hurt all kinds of investments, and high-growth stocks tend to be some of the hardest hit.

Persons: Australia's, Korea's Kospi, Seng, Brent, Stan Choe, Yuri Kageyama Organizations: TOKYO, Nikkei, Shanghai, Federal Reserve, Dow Jones, Nasdaq, U.S, Treasury, Amazon, Fed, Traders, CME Group, European Central Bank, U.S . Bancorp, Sporting Goods, Spirit Airlines, JetBlue Airways, JetBlue, U.S ., AP Locations: United States, Hong, U.S, New York

TOKYO (AP) — Asian shares were trading mostly lower on Wednesday after a decline overnight on Wall Street, while Tokyo's main benchmark momentarily hit another 30-year high. S&P 500 futures fell 0.5% to 4,775.25. Companies across the S&P 500 are likely to report meager growth in profits for the fourth quarter from a year earlier, if any, if Wall Street analysts' forecasts are to be believed. But optimism is higher for 2024, where analysts are forecasting a strong 11.8% growth in earnings per share for S&P 500 companies, according to FactSet. The index remains within 0.6% of its all-time high set two years agoFor now, traders are penciling in many more cuts to rates through 2024 than the Fed itself has indicated.

Persons: Australia's, Korea's Kospi, Stephen Innes, Brent, Stan Choe, Yuri Kageyama Organizations: TOKYO, Dow, Nikkei, Companies, Wall, Federal Reserve, Fed, U.S, AP Locations: Hong, Shanghai, New York

BANGKOK (AP) — Shares fell Tuesday in Asia, with Hong Kong’s benchmark down nearly 2%, as jitters over Chinese markets dimmed confidence across the region. Tokyo’s Nikkei 225 index fell, snapping a New Year’s winning streak that took it to its highest level in 34 years. The dollar weakened against the Japanese yen even as a former central bank official said that the Bank of Japan is preparing to end its longstanding negative interest rate policy. The dollar bought 146.12 yen, up from 145.75 late Monday and at its highest level in more than one month. Traders are largely betting on the Fed cutting its main interest rate six or more times through 2024.

Persons: —, Meituan, Kristalina Georgieva, Kospi, Germany's DAX, It's, Brent Organizations: Dow Jones, Nikkei, Bank of Japan, Federal Reserve, Tencent, China Garden Holding, Ocean, IMF, CNBC, CAC, Traders, Fed, New York Mercantile Exchange Locations: BANGKOK, Asia, U.S, Shanghai, China, Beijing, South, Australia, Paris

☆ Scientists clone second species of monkey
▼ + stars: | 2024-01-16 | by ( Katie Hunt | ) edition.cnn.com time to read: +6 min

CNN —Meet Retro, a cloned rhesus monkey born on July 16, 2020. Retro is only the second species of primate that scientists have been able to clone successfully. He was not involved in the latest research but has collaborated with some members of the research team on other primate studies. However, a rhesus monkey was cloned in 1999 using what researchers consider a simpler cloning method. Cloned monkeys can be genetically engineered in complex ways that wild-type monkeys cannot; this has many implications for disease modeling.

Persons: Falong Lu, ”, Lu, haven’t, Dolly, Miguel Esteban, Esteban, ” Lu, Zhong Zhong, Hua Hua, Lluís Montoliu, wasn’t, “ Organizations: CNN, Nature Communications, State Key Laboratory, Molecular, Biology, of Genetics, Chinese Academy of Sciences, “, Guangzhou Institute of Biomedicine, Covid, National Academies of Sciences, Engineering, Medicine, Royal Society for Prevention, National Center for Biotechnology Locations: Shanghai, Beijing, Spain

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