DIRS.INFO The most relevant business & tech news

☆ 45 Hong Kong pro-democracy activists are sentenced to jail in city’s biggest national security trial
▼ + stars: | 2024-11-19 | by ( Jennifer Jett | Jennifer Jett Is The Asia Digital Editor For Nbc News | Based In Hong Kong. | ) www.nbcnews.com time to read: +7 min

HONG KONG — A Hong Kong court sentenced dozens of leading pro-democracy figures to up to 10 years prison Tuesday in the single largest trial under a national security law that critics say has been used to all but eliminate political dissent in the Chinese territory. Lawyers for the defendants have argued that such action was within the bounds of Hong Kong law. In March, Hong Kong’s opposition-free legislature also enacted local national security legislation. Among the 47 are “second-tier pan-democrats” who were previously active members of the Hong Kong legislature, Burns said. Hong Kong officials said last month that there was no time limit for prosecuting the cases, noting that it takes time to gather evidence.

Persons: Benny Tai, Tai, Carrie Lam, Hong Kong’s, Hong, Maya Wang, ”, Tai —, John Burns, Burns, Jimmy Lai, “, Jonathan Sumption, ” Sumption, Kong’s, of Organizations: University of Hong Kong, Hong, Authorities, Human Rights, University of Hong, Apple Daily, Pew Research Center, Financial Locations: HONG KONG, Hong Kong, Beijing, British, U.S, China, University of Hong Kong, Hong Kong’s

☆ Hong Kong 47: Democracy leaders sentenced to lengthy jail terms in largest national security trial as Beijing tightens grip
▼ + stars: | 2024-11-18 | by ( Chris Lau | Nectar Gan | ) edition.cnn.com time to read: +8 min

Benny Tai, a prominent legal scholar and veteran protest leader, received the longest prison term of 10 years – the toughest sentence to date handed down under the national security law. But since the national security law came into effect in 2020, Hong Kong’s political and legal landscape has been transformed. The administration of outgoing US President Joe Biden was also critical of Bejing’s crackdown in Hong Kong, even as it tried to recalibrate ties with Beijing. John Burns, emeritus professor at the University of Hong Kong, said the cumulative changes have reduced the city’s autonomy and citizens’ participation in politics. “The new regime has restricted human rights in Hong Kong, rights that Hong Kongers used to enjoy.

Persons: Hong Kong’s, Joshua Wong, “, –, Benny Tai, Wong, Gwyneth Ho, Leung Kwok, Claudia Mo, teared, ” –, Chris Lau, Lee Yue, ”, Hong, Donald Trump’s, Joe Biden, Trump, Raphael Wong Ho, John Burns, Hong Kongers, Hong Kong, John Lee –, ” Lee Organizations: Hong Kong CNN, Hong, CNN Landmark, Police, Washington, Beijing, CNN, Legislative Council, University of Hong, Authorities, Communist Party Locations: Hong Kong, Kowloon, Beijing, British, China, University of Hong Kong, Hong

☆ First-ever dinosaur fossils discovered in Hong Kong
▼ + stars: | 2024-10-24 | by ( Karina Tsui | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Dinosaur fossils have been discovered for the first time in Hong Kong, on a remote island in the financial capital’s countryside. Hong Kong’s Secretary of Development Bernadette Linn said that “the discovery is of great significance and provides new evidence for research on palaeoecology in Hong Kong,” the statement read. The dinosaur fossils will also be on public display at Hong Kong’s Heritage Discovery Centre from Friday onwards. Hong Kong's Antiquities and Monu/APExperts in paleontology say the landmark discovery is a big deal for Hong Kong, a city with a complex geological history and ever-changing weather patterns. The only “dinosaur-era things” Hong Kong has found so far are plants and fish, he said.

Persons: Bernadette Linn, ” Michael Pittman, Chinese University of Hong Kong, Pittman, ” Pittman Organizations: Hong Kong CNN, Hong Kong’s Agriculture, Fisheries, Conservation Department, Kong’s, Hong Kong’s, Hong Kong’s UNESCO Global, Hong Kong’s Heritage Discovery, Vertebrate Paleontology, Chinese Academy of Sciences, Kong's, AP, Chinese University of Hong, CNN Locations: Hong Kong, Port Island, Port, Hong Kong’s UNESCO, Hong Kong's Port Island, China, Yunnan, Jiangxi province, East Asia

☆ The world’s best bars for 2024 announced
▼ + stars: | 2024-10-23 | by ( Lilit Marcus | ) edition.cnn.com time to read: +4 min

CNN —A two-level speakeasy in Mexico City’s hip Colonia Juarez neighborhood has been proclaimed the world’s best bar. Handshake Speakeasy clinched the title last night in Madrid, where a splashy awards ceremony was held by the World’s 50 Best association. The World’s 50 Best voters are a mix of industry professionals, including bartenders and food and drink writers. Named after a classic Japanese hairstyle, it was ranked the Best Bar in the Middle East and Africa this year. I also know it’s impossible to have everyone deserving of a place, mentioned on this list, so just keep doing the great things you are doing!”The world’s 50 best bars for 2024

Persons: Speakeasy, Hong Kong’s, ”, Barcelona’s, Singapore’s, Mimi Kakushi, Iain McPherson, Edinburgh’s, . McPherson, “ Congrats Organizations: CNN, El, Pony, Travelers, Mexico City, ., Scotland Locations: Mexico, Colonia Juarez, Madrid, Hong Kong’s Italian, Asia, London, Athens, Tokyo, Sydney, Lima, Shinjuku, Singapore, Rosewood, Connaught, Mayfair, Dubai, East, Africa, New York City, Buenos Aires

☆ China just triggered more stimulus measures, even as it says its economy is showing 'stable growth'
▼ + stars: | 2024-10-18 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

The People's Bank of China triggered two market support programs after China announced economic data. China's economy grew 4.6% in the third quarter of this year, the country's statistics bureau announced as it touted a "stable growth trend." "The property market unsurprisingly remains the biggest drag on China's growth," wrote Song, adding that stabilization in the real estate market remains "elusive." China's economy is being dragged by factors including a property crisis, high youth unemployment, and deflation. He added that he expects Beijing to continue to do more to support growth so the economy can enter 2025 on better footing.

Persons: —, Sheng Laiyun, China's, Lynn Song, Betty Wang, Larry Hu, Rajiv Biswas, who's, Wang Organizations: People's Bank of China, Service, Reuters, Greater China, ING, Oxford Economics, People's Bank of, Macquarie Group Locations: China, Greater, People's Bank of China, Beijing

☆ China could raise nearly $1 trillion of fresh debt in the next 3 years to revive its economy
▼ + stars: | 2024-10-16 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Chinese media reported that China could rack up $850 billion in debt to help revive its economy. China has vowed to roll out more fiscal stimulus, but key details were missing in a recent update. AdvertisementChina's fiscal stimulus efforts could include racking up almost $1 trillion in fresh debt over the next several years, according to local media. The money could be used as fiscal stimulus and to help "off-the-books debt" in local governments, the people added. One researcher recently estimated that the direct effects of China's latest stimulus package may not be felt until 2025, mainly because more fiscal stimulus needs to be unlocked before the policies can bolster the nation's economy.

Persons: —, Lan Fo'an Organizations: Service, China's, Finance, CNBC, Bloomberg, CSI Locations: China, Beijing, Hong Kong

☆ From solitary confinement in China to self-exile in Taiwan: Inside a Hong Kong bookshop owner's fight to keep the free press alive
▼ + stars: | 2024-10-15 | by ( Huileng Tan | ) www.businessinsider.com time to read: +11 min

AdvertisementThe acute lack of customers was somewhat surprising, given that Causeway Bay Books is pretty well-known. It all started in Hong KongFor 20 years, Lam founded and managed the original bookstore in Hong Kong — set up in and named after a vibrant district on Hong Kong Island. But the people who go to Causeway Bay Books — whose mainstays are books on politics and history — know what they are looking for. You shouldn't call it Hong Kong but Chinese Hong Kong," Lam said. Although he still misses Hong Kong from time to time, he says it's no longer the place he once knew.

Persons: kee, Lam, —, Hong Kong —, Kongers, Xi Jinping's, Ben Cheng, Huileng Tan, Hong Kongers, Taipei —, Wang, boisterously, Hong, China —, Hong Kong's, Zero, Peter Parks, Cheng, it's Organizations: Chinese Communist Party, Service, Taiwan Beer, Congressional, Commission, Taiwan, Fo Guang, New Taiwan, Hong Kongers, National Taiwan Normal University Locations: Lam, Hong Kong, Taipei, Taiwan, China, Beijing, Fo Guang University, Hong, America, AFP

☆ European markets expected to open slightly higher; UK economy expands 0.2% in August
▼ + stars: | 2024-10-11 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

Heavy rain clouds pass over the city of London skyline on September 23, 2024 in London, United Kingdom. European markets are expected to open slightly higher on Friday as investors take in U.K. gross domestic product (GDP) figures and look ahead to highly anticipated fiscal stimulus from China. The U.K.'s FTSE 100 index is poised to open 19 points higher at 8,254, Germany's DAX 23 points higher at 19,228, France's CAC up 15 points at 7,559 and Italy's FTSE MIB 11 points higher at 33,943, according to data from IG. The U.K. economy returned to growth in August, according to official data published on Friday. Asia-Pacific markets mostly traded higher on Friday, breaking ranks with U.S. stocks, which saw key benchmarks dip overnight as investors reacted to a hotter-than-expected U.S. inflation report.

Persons: Germany's DAX Organizations: France's CAC, IG, Reuters ., U.S, CSI Locations: London, United Kingdom, China, U.K, Reuters . Asia, Pacific, Hong Kong

☆ The markets saw right through China's latest economic support hype
▼ + stars: | 2024-10-09 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

China's stock markets slumped after a 10-day rally that was driven by Beijing's stimulus announcement in September. Retail investors dominate China's markets, influencing sentiment and market movements. AdvertisementChina's top leadership has a problem with its economic stimulus: its own investors at home saw right through the hype this week. China's domestic stock markets slumped on Wednesday after a 10-day blitz culminated in a two-year high. China's domestic stock markets are dominated by over 200 million mom-and-pop retail investors, who account for about 70% of the trading volume.

Persons: —, weren't, Jun Rong, that's, Vishnu, Li Qiang, Hele Qiao, Qiao Organizations: Investors, Service, People's Bank of China, Reform Commission, BofA Global Locations: Shanghai, Shenzhen, China, Hong Kong, Beijing, Asia, Japan, Xinhua, Greater China, China's

☆ China economy: Government gives $28 billion to local governments as it vows to meet economic targets
▼ + stars: | 2024-10-08 | by ( Juliana Liu | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —China has set aside 200 billion yuan ($28 billion) for investment projects by local governments this year, as it promised to meet its own ambitious economic growth targets. China announced a 5% target growth rate in March, but a series of economic data over the summer has been so weak that economists were worried the goal might be missed. To help local governments struggling with mountains of debt, Beijing will provide 100 billion yuan ($14 billion) from the central government’s budget and an extra 100 billion yuan for investment projects, Zheng said. Nevertheless, investors were disappointed at the lack of details on new fiscal measures,” Fred Neumann, chief Asia economist for HSBC, told CNN. Fiscal measures, on the other hand, can include the use of taxation or other measures to impact public spending more directly.

Persons: ” Zheng Shanjie, Zheng, Xi Jinping, Fred Neumann, What’s, Jia Kang, “, … Jia Kang, –, Xi, ” Organizations: Hong Kong CNN, National Development, Reform Commission, HSBC, CNN, “, Ministry of Finance, Citi, People’s Bank of China Locations: China, Hong Kong, Beijing, Asia, Shanghai, Shenzhen

☆ China's stock markets reopen tomorrow after a weeklong break. Investors — and social media — are buzzing.
▼ + stars: | 2024-10-07 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

China's stock investors and watchers are discussing the markets before they reopen. AdvertisementChina's investors are looking forward to some stock market action after the country's weeklong National Day break. AdvertisementChina's domestic stock markets are dominated by retail traders, who number over 200 million and account for about 70% of trading volume. Goldman Sachs, for one, has upgraded China's stocks to overweight and is forecasting another 15% to 20% upside to Chinese shares. China's stimulus measures include interest rate cuts and 800 billion yuan, or about $114 billion, to support the domestic stock markets.

Persons: —, Goldman Sachs Organizations: Service, Twitter, Weibo, Shanghai Stock Exchange Locations: China, Mainland, Beijing, Weibo, Hong Kong, Shanghai, Shenzhen

☆ China stocks poised to reopen Tuesday with markets fixated on fiscal stimulus
▼ + stars: | 2024-10-07 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +4 min

Qilai Shen | Bloomberg | Getty ImagesChinese investors are looking for more policy direction from China's top economic planning body on Tuesday, when mainland markets return from a week-long holiday. Before the week-long holiday, authorities unveiled a flurry of stimulus policies, including interest rate cuts, lower cash reserve requirements at banks, looser property purchase rules and liquidity support for stock markets. Chinese major indexes have surged over 25% as investors cheer on the barrage of stimulus measures. Last week, China's CSI 300 blue-chip index extended a nine-day winning streak, surging over 8% Monday, before the market closed for a week-long holiday. Now the government needs to add fiscal stimulus to maintain the rally's momentum, said Shaun Rein, founder and managing director of China Market Research Group.

Persons: Qilai Shen, Zheng Shanjie, Erica Tay, Tuesday's presser, Shaun Rein, Rein, Adek Berry, Lynn Song, Song, Gary Ng Organizations: Shoppers, Bloomberg, Getty Images, National Development, Reform, State Council, CSI, SGX FTSE, Maybank Investment Banking Group, Ministry, Finance, China Market Research, AFP, Getty, ING Locations: Nanjing, Shanghai, China, Beijing, Hong Kong, SGX FTSE China, Tuesday's, Xicheng, Greater China, Shenzhen

☆ Hong Kong plans to install thousands of surveillance cameras. Critics say it’s more proof the city is moving closer to China
▼ + stars: | 2024-10-05 | by ( Jessie Yeung | ) edition.cnn.com time to read: +11 min

Hong Kong CNN —Glance up while strolling through parts of downtown Hong Kong and, chances are, you’ll notice the glassy black lens of a surveillance camera trained on the city’s crowded streets. Hong Kong police had previously set a target of installing 2,000 new surveillance cameras this year, and potentially more than that each subsequent year. Facial recognition gates at the departure hall of Hong Kong International Airport. Tang and the Hong Kong police have repeatedly pointed to other jurisdictions, including Western democracies, that also make wide use of surveillance cameras for law enforcement. Protesters on the streets covered their faces with masks and goggles to prevent identification, at times smashing or covering security cameras.

Persons: Chris Tang, Budrul Chukrut, Tang, haven’t, Kong’s, ”, Samantha Hoffman, Hoffman, Joshua Wong –, –, “, Miguel Candela, Qilai Shen, ” Hoffman, Sing, Sing Tao, Steve Tsang, it’s, doesn’t, Normann Witzleb, Chan Long Hei, Witzleb, they’re, ” Witzleb Organizations: Hong Kong CNN —, Hong Kong, Hong Kong International Airport, Budrul, CNN, Hong Kong Police Force, National Bureau of Asian Research, New, London, Protesters, New Town, QR, New York Times, Bloomberg, Getty, SOAS China Institute, University of London, Chinese University of Hong Locations: Hong Kong, China, Hong, Singapore, United Kingdom, Tao, United States, Hong Kong Hong Kong, New York City, Beijing, Xinjiang, Bund, Shanghai, Sing Tao, Chinese University of Hong Kong, Victoria Harbour

A Li L6 by Li Auto is displayed at its booth during the Beijing International Automotive Exhibition, or Auto China 2024, in Beijing, China, April 25, 2024. BEIJING — Chinese new energy vehicle brands Li Auto and Zeekr each delivered a record number of cars in September, according to company data released Tuesday. New energy vehicles include hybrids and those powered only by battery. Li Auto reported 53,709 deliveries in September, setting a record more than 5% above a prior high reached in July. Geely-owned electric car company Zeekr also delivered a record of 21,333 vehicles in September.

Persons: Li, Li Auto, Zeekr, Nio, Hong Kong's Organizations: Li, Beijing International Automotive, Auto, Li Auto, Huawei Locations: Beijing, China, BEIJING, Hong Kong

☆ China property stocks rally after major cities ease homebuying restrictions
▼ + stars: | 2024-09-30 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +3 min

Noel Celis | Afp | Getty ImagesShares of Chinese property developers rallied on Monday after major cities in mainland China unveiled easing measures to boost homebuyer sentiment, following the central bank's blitz of policy stimulus. The Guangzhou city government said in a notice on Sunday that all restrictions on home purchases would be removed, effective from Monday. China Overseas Land & Investment and China Vanke climbed 5.06% and 12.89%. Mainland China's CSI 300 surged 6% Monday, after the index logged its best week in almost 16 years on Friday. The easing measures follow the central government's call last week to combat the property slump last week.

Persons: Noel Celis, China Vanke, Allen Feng, Gary Ng, Ng, Xi Jinping Organizations: HK, Afp, Getty, Mainland Properties, Longfor Group Holdings, Hang Lung, China Resources, ., . China Overseas Land & Investment, China's CSI, CSI, People's Bank of Locations: Guangzhou, China's, Guangdong, China, Shanghai, Hong Kong, . China, —, Beijing, People's Bank of China

☆ Analysis: China is celebrating National Day but with the economic downturn not everyone is in the party spirit
▼ + stars: | 2024-09-30 | by ( Nectar Gan | ) edition.cnn.com time to read: +10 min

Tourists visit an ancient city gate in Beijing, China ahead of National Day. The stock market may be in the midst of one of its most remarkable turnarounds, but economists say reversing China’s economic downturn will require much more work. “Stimulating the stock market doesn’t really do much for the real economy in China. Very few people invest in the stock market compared to other major markets,” said Logan Wright, director of China markets research at Rhodium Group. Property woesThe outlook for the real estate industry, which makes up about a quarter of the Chinese economy and 70% of household wealth, remains dim.

Persons: Japan’s “, Xi Jinping, Xi, Xu Tianchen, Hong, David Tepper, ”, Logan Wright, Wright, There’s, ” Wright, “, hasn’t, Alfred Wu, Lee Organizations: Hong Kong CNN, Economist Intelligence Unit, Reuters, Shenzhen bourses, Securities Times, Tourists, Management, CNBC, Barclays, Communist Party, Lee Kuan Yew, of Public, National University of Singapore Locations: Hong Kong, China, People’s Republic, United States, Beijing, Shanghai, Shenzhen, Guangzhou, China’s, Xi’s

Outbound travel from China is set to receive a much-anticipated jolt as "Golden Week" bookings show changes in where and why Chinese people are traveling. While most Golden Week travelers are choosing mid-tier accommodations, growth for five-star hotels in Europe is almost three times higher in Europe than in Asia-Pacific, company data showed. Seeking quiet and concertsAs Chinese tourists continue to move beyond organized sightseeing tours abroad, more are seeking to celebrate Golden Week in off-the-beaten-path locations, especially in Asia and Europe, according to Trip.com's data. In Europe, bookings in Spain rose 260% to the city of Granada and 144% to Seville, according to Trip.com. Hong Kong is expected to welcome as many as 1.2 million mainland Chinese visitors during the coming Golden Week holiday, up 10% from last year, according to the city's Travel Industry Council.

Persons: Trip.com, Oscar Wong, Vietnam —, Ito, John Legend Organizations: National, Alibaba Group, United, United Arab, Goldman Sachs Equity Research, ASEAN, Golden, city's Travel Industry Locations: China, Asia, Pacific, Japan, Hong Kong, South Korea, Australia, Thailand, Malaysia, Singapore, Vietnam, Southeast Asia, United States, Chile, Croatia, Belgium, Hungary, Czech Republic, Finland, Norway, Netherlands, United Arab Emirates, Sri Lanka, New Zealand, United Kingdom, France, Spain, Europe, Trip.com, Cambodia, Laos, Myanmar, Tokyo, Kyoto, Yokohama, Phu, Granada, Seville, Golden, . Hong Kong

☆ 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

☆ These China stocks are favored by analysts no matter how the central bank stimulus pans out
▼ + stars: | 2024-09-26 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Stocks in China rose in response, with the CSI 300 Index climbing 4.3% Tuesday, its best day since July 2020. But whether or not the latest policy steps succeed, CNBC Pro screened for China stocks that analysts praise regardless of the pace of economic growth at home. About three quarters of analysts covering PDD rate it a buy, and the stock could climb roughly 43% based on analysts' consensus price target. On Tuesday, after the announcement of the latest policies to revive the flagging China economy, PDD shares in the U.S. jumped more than 11%. Other names on the list of favored China stocks included online learning and tutoring provider TAL Education Group and digital shipping platform Full Truck Alliance .

Persons: Hong, Morgan Stanley, Terence Flynn, Flynn, CoreValues, Ben Harburg, CNBC's, Harburg, Biden Organizations: People's Bank of China, CSI, CNBC Pro, China ETF, Therapeutics, YE25, U.S, TAL Education Group, Alliance Locations: China, Ph3, U.S

☆ Beijing is no longer hiding its panic about the state of its economy
▼ + stars: | 2024-09-25 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

The measures were significant because Beijing has been holding back on a "bazooka" stimulus even though China's economy has been struggling to stage a convincing recovery post-pandemic. To be sure, this is not the first attempt China has made at boosting its economy in the past few years. However, Beijing's display of resolve also triggered market speculation that it's alarmed and panicked over the state of its economy, which is facing multiple challenges. Related storiesNotably, even on the heels of China's big stimulus announcement, most analysts also think Beijing still needs to do more to boost China's economy, particularly in boosting gloomy domestic demand. "Onshore stocks are a policy- and momentum-driven market, and policy signals don't get much clearer than this," they wrote.

Persons: —, Pan Gongsheng, Andrew Rocco, Rocco didn't, Pan, Freya Beamish, Rory Green, Anthony Sassine, Sassine, Rocco, macroeconomy, China's CSI300 Organizations: Service, People's Bank of China, Business, Lombard, Investors, Zacks Investment Research, Global Data.TS, Yahoo Finance, Data.TS Locations: China, Beijing, Swiss, London

☆ CNBC Daily Open: Fedspeak reassures markets
▼ + stars: | 2024-09-24 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Markets regain momentumU.S. markets rose Monday, with the S&P 500 and Dow Jones Industrial Average notching fresh closing highs. Asia-Pacific stocks mostly climbed Tuesday, with the Chinese and Hong Kong markets popping over 3% on Beijing's announcement of policy easing measures. PBOC policy easingThe People's Bank of China Governor Pan Gongsheng on Tuesday announced a cut to banks' reserve requirement ratio.

Persons: Neel Kashkari, The Beverly Hilton, Pan Gongsheng Organizations: Federal Reserve Bank of Minneapolis, The Beverly, CNBC, Dow Jones, People's Bank of China, Boeing, Tech, Big Tech, Companies, Nomura Locations: Beverly Hills , California, U.S, Asia, Pacific, Hong Kong, China, Beijing

☆ Japan's Nikkei leads Asia-Pacific markets higher as investors digest outsized Fed rate cut
▼ + stars: | 2024-09-19 | by ( Anniek Bao | In | ) www.cnbc.com time to read: 1 min

The Hong Kong Monetary Authority is displayed outside Two International Finance Centre in Hong Kong on June 19, 2013. Japan's Nikkei 225 led Asia-Pacific markets higher Thursday, as traders assessed the Federal Reserve's decision to cut interest rates by a half-percentage point. The Fed lowered its benchmark borrowing rate by a half percentage point, bringing its target range to 4.75% to 5%. In lockstep with the Fed, the Hong Kong Monetary Authority cut its interest rate by 50 basis points to 5.25, as the city's currency is pegged to the greenback. Hong Kong markets will return to trade after being closed for a public holiday on Wednesday.

Persons: Hong Organizations: Hong, Hong Kong Monetary Authority, International Finance, Japan's Nikkei, Nikkei, U.S ., Fed Locations: Hong Kong, Asia, Pacific

☆ A shooting near my son's daycare center prompted us to move from California to Japan. I feel safer here.
▼ + stars: | 2024-09-18 | by ( Erin Liam | ) www.businessinsider.com time to read: +6 min

A shooting near my son's school in Los Angeles escalated our plans. In 2019, when my son was 2, a shooting took place at a shopping mall near his daycare center. In Japan, my son attends an international school because he's not yet fluent in Japanese. I knew people working two or three jobs, and they drove fast to get from place to place and fill their time with activities. We plan to stay in Japan until my kids finish high school, as I want them to have a stable community during their school-age years.

Persons: —, Genie Doi, he's, Doi, I'm, We'll, We've, I've Organizations: Service, Business, CIA Locations: American, Osaka, Japan, Los Angeles, In California, LA, Japanese, Korean, Hawaii, California, Hong Kong, China, South Korea

☆ CNBC Daily Open: Rate cuts might not benefit tech the most
▼ + stars: | 2024-09-17 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Record close for DowThe S&P 500 and Dow Jones Industrial Average rose on Monday, with the Dow notching a record close. Next move for the BOJThe Bank of Japan won't be raising interest rates at its September meeting, according to a CNBC survey of 32 analysts. [PRO] "Golden age of fixed income"The U.S. Federal Reserve is poised to cut interest rates this week.

Persons: Shaktikanta Das, Biden, Rick Rieder Organizations: Trade Center, CNBC, Dow, Dow Jones, Nasdaq, Nikkei, U.S ., Midea Group, Hong Kong, Bank of Japan, Bank of India, Intel, U.S . Federal Locations: Manhattan, Jersey City , New Jersey, Asia, Pacific, Hong

☆ Aussie stocks open higher as investors digest China economic data, await Fed rate verdict
▼ + stars: | 2024-09-16 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +1 min

Asian markets were set to open mixed Monday as investors digested the downbeat economic data from China released over the weekend, while several key markets were closed for holidays. Investors also await the Federal Reserve's policy meeting on Tuesday and Wednesday where the central bankers are expected to make their first interest rate cut since 2020. China released a slew of worrying economic data, with August factory output, retail sales and investment numbers missing expectations. Urban jobless rate rose to a six-month high while year-on-year home prices fell at the fastest pace in nine years. Reaction to China's disappointing economic data will be likely seen in the Hong Kong market.

Locations: China, South Korea, Japan, Hong Kong

Search resuls for: ". Hong Kong"

25 mentions found