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☆ ByteDance founder tops China's rich list for the first time, beating Tencent and Nongfu heads
▼ + stars: | 2024-10-29 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

ByteDance founder Zhang Yiming for the first time has emerged as China's richest person, according to a list compiled by Hurun Research Institute, leaving behind Nongfu Spring Chairperson Zhong Shanshan who has topped the rankings for three years. Midea founder He Xiangjian and CATL's CEO Zeng Yuqun took fifth and sixth places on the list. "The Hurun China Rich List has shrunk for an unprecedented third year running, as China's economy and stock markets had a difficult year," said Rupert Hoogewerf, Hurun report chairman and chief researcher. The current rich list predominantly comprises entrepreneurs from the technology, consumer electronics and new energy space, from what used to be dominated by real estate developers, Hoogewerf noted. "The stories of the individuals on the Hurun China Rich List tell the story of the Chinese economy," he said.

Persons: Zhang Yiming, Zhong Shanshan, Zhang, Zhong, ByteDance, Hurun, Ma Huateng, Colin Huang, Xiangjian, Zeng Yuqun, Rupert Hoogewerf, Hoogewerf, ByteDance's Zhang, Huang Organizations: Hurun Research Institute, Nongfu, Research Locations: Shanghai, China

☆ CNBC Pro Talks: China portfolio manager reveals what he's buying right now
▼ + stars: | 2024-10-22 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: +2 min

As investors ponder how — and where — to invest in China, CNBC's Tanvir Gill will quiz China portfolio manager Jason Hsu on where he sees opportunities in the current market. Hsu previously told CNBC Pro that he was betting on tech — and artificial intelligence in particular — for the long term. Hsu set up Ranmore Fund Management in 2016, prior to which he was co-founder and vice chairman of quantitative asset manager Research Affiliates. Join CNBC Pro Talks on Wednesday, Oct. 23 at 6:30 a.m. BST / 1:30 p.m. SGT / 1:30 a.m. Learn more from our previous Pro Talks: How to play AI in a cheaper way without owning stocks like Nvidia, according to fund manager Fund manager reveals his worst trade of the year — and the lessons he learned Beyond Novo: Fund manager likes this under-the-radar pharma stock Related coverage from Pro: Is it time to invest in China?

Persons: Finance Lan Fo'an, CNBC's Tanvir Gill, Jason Hsu, Hsu, Goldman, Tanvir Gill Organizations: Finance, China's CSI, Rayliant Global Advisors, China Equity, CNBC Pro, China Equity ETF, Ping An Insurance, Midea, Ranmore Fund Management, Research, Anderson School of Management, UCLA, Nvidia, pharma, Wall, Citi Locations: China

☆ Investors should take China ‘very seriously,’ fund manager says, naming a stock to start with
▼ + stars: | 2024-10-11 | by ( Nicole Teo | ) www.cnbc.com time to read: +4 min

With all eyes on China right now, one fund manager is bullish on the country regardless of any "bazooka" stimulus measures, saying investors should be getting involved. Starting on Sept. 24, China announced a string of stimulus measures aimed at boosting China's economy . Stephen Roach, for example, former chief economist at Morgan Stanley, warned investors against being too swept up in the China market rally . 'Starting point' For those looking to invest in China, Glass said a good "starting point" was Midea Group , which makes appliances and industrial robots. Analysts' average price target is 4.49 Hong Kong dollars, which gives the stock almost 30% potential downside from its current price around 6.40 Hong Kong dollars.

Persons: Steven Glass, Glass, hasn't, CNBC's, Stephen Roach, Morgan Stanley, Midea Organizations: Sydney, Pella Funds, Investors, National Development, CSI, HSBC, Generations Fund, Midea Group, China Equity, Hong, Garden Services Holdings Locations: China, Pella, Hong Kong, Shenzhen, U.S, Hong

☆ Midea's listing is a good sign for Chinese companies going global
▼ + stars: | 2024-09-17 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMidea's Hong Kong listing is a good sign for Chinese companies going global, investment firm saysWilliam Ma, CIO of Grow Investment Group, says "green shoots [are] coming back" in the Chinese market despite struggling macroeconomic data.

Persons: William Ma Organizations: Grow Investment Locations: Kong

☆ Demand for Midea's Hong Kong listing is driven by the H-share discount
▼ + stars: | 2024-09-17 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDemand for Midea's Hong Kong listing is driven by the discount compared to its A-share listingDickie Wong from Kingston Securities talked about Midea's performance, particularly in the context of weak economic data in China and potential tariffs.

Persons: Dickie Wong Organizations: Hong, Kingston Securities Locations: Hong Kong, Kingston, China

☆ EY's Choi: China consumer sector a favorite for PE and VC firms
▼ + stars: | 2024-09-17 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEY's Choi: China consumer sector a favorite for PE and VC firmsRingo Choi, Asia Pacific IPO lasiaeader at EY, discusses Midea's secondary listing in Hong Kong and the opportunities in China's consumer sector.

Persons: EY's Choi, Ringo Choi Locations: China, Asia Pacific, EY, Hong Kong

☆ 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

☆ Asia-Pacific markets trade mixed as investors look ahead to Fed meeting
▼ + stars: | 2024-09-17 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +1 min

Containers are loaded on the premises of the port operator PSA, the Port of Singapore Authority (PSA), at the Port of Singapore on 14 June 2022. Most Asia-Pacific markets were mixed Tuesday, following a mixed trading session on Wall Street as investors prepare for the Federal Reserve to kick off its monetary loosening cycle. The Fed is expected to announce its first interest rate cut since March 2022, but markets are split over the size of the reduction from the two-day policy meeting which begins Tuesday. U.S. retail sales data is also set to take center stage as investors monitor the health of the consumer in the lead up to the Fed's meeting. Chinese appliance maker Midea Group is slated to debut in Hong Kong, with shares priced at 54.80 Hong Kong dollars apiece, in what would be the city's largest listing in more than three years.

Organizations: Singapore Authority, Port, Federal Reserve, Traders, Midea, Hong Locations: Port, Port of Singapore, Asia, Pacific, Hong Kong

☆ Nikkei jumps 3%, leading Asia-Pacific markets higher
▼ + stars: | 2024-09-12 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +2 min

A General view showing the Central Business District in Central on May 18, 2023 in Hong Kong, China. Asia-Pacific markets opened higher on Thursday, tracking gains on Wall Street after a volatile session spurred by inflation data. Japan's producer price index rose 2.5% year-on-year in August, less than the expected 2.8% and the 3% reported in the previous month. Investors will also look toward the release of Hong Kong's producer price index for the second quarter this afternoon. The listing is set to be the largest offering in Hong Kong since May 2021.

Persons: Jensen Huang, Goldman Sachs, Hong Organizations: Central Business District, Nikkei, Nvidia, Technology Conference, SK Hynix, Samsung Electronics, SoftBank, Bank of Japan, Reuters, Midea Locations: Central, Hong Kong, China, Asia, Pacific, San Francisco, Tokyo, India

AdvertisementHow to clean a window AC unitYou should clean your window air conditioner thoroughly at least once a year. AdvertisementHow to clean a window AC unit with moldDrago recommended a deep clean of your window AC unit if you discover mold, performing all of the abovementioned steps. AdvertisementHow to clean a window AC unit without removing itThe safest way to thoroughly clean your window air conditioner is to remove it from the window, but that's not always possible. Insider's takeawayCleaning your window air conditioner will extend its lifespan, ensure it functions properly, and save you money in energy costs. Consider a few of the picks from our best air conditioner guide:Midea U Inverter Window Air Conditioner (MAW08V1QWT) The Midea U Inverter Window Air Conditioner features a unique design that allows you to open the window when it's installed, and it's one of two ACs to earn Energy Star Most Efficient Certification.

Persons: Ray Bramble, Vincent Drago, James Brains, Drago, Bramble, you've, that's, it's Organizations: King, Energy, Amazon Locations: Aire, Central Shenandoah Valley, Westchester County , New York

Olivia Ott / NBC NewsHow we tested Windmill and July’s air conditionersTwo of my colleagues and I tested Windmill and July’s ACs for at least five weeks in our New York City apartments. July sent me its small 6K BTU air conditioner, which I put in my bedroom. My LG air conditioner was so loud that I felt like I couldn’t hear myself think. JulyEven after over a month, I’m still shocked when I walk into my bedroom and barely notice my air conditioner. For this article, I tested July’s air conditioner for over a month, and two members of NBC Select’s staff tested Windmill’s air conditioner for over a month.

Persons: you’ll, Zoe Malin, Nikki Brown, Olivia Ott, Bianca Alvarez, you’re, I’ve, ”, Brown, Alvarez, I’d, she’s, “, it’s, Windmill’s, I’m, Both Alvarez, hasn’t, —, TikTok Organizations: NASA, NBC, British, Units, National Council, Aging, Alexa, July’s, ACs, Windmill, AC, July’s AC, LG, Amazon Alexa, decibel, Facebook, Twitter Locations: New York City, BTUs, Taskrabbit, NYC, France

☆ China just expanded its efforts to boost consumption. Here are some stocks to watch
▼ + stars: | 2024-07-28 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

China has, in its own way, signaled it wants to support specific kinds of consumer purchases. Authorities on Thursday announced the equivalent of 300 billion yuan ($41.5 billion) in special bonds would go towards trade-ins and equipment upgrades — a significant expansion of an existing program. The 300 billion yuan ultra-long bond issuance is not a new government allocation, but rather a more detailed designation of a 1 trillion yuan ultra-long bond program announced earlier this year. "300 billion yuan is the largest equipment upgrade subsidy from the central government historically," the analysts said. Even the 300 billion yuan figure is split roughly between consumer-related trade-ins with business-side equipment upgrades.

Persons: Ding, Morgan Stanley, Tao Wang, Darius Tang, Corporates, Fitch Bohua, Michael Bloom Organizations: China Asset Management Co, UBS Investment Bank Locations: China, Beijing, Asia

View at AmazonThere are even more options for Prime Day Apple Watches, and Prime Day iPads still available in our other guides. For an extensive breakdown divided up by size, see our full roundup of Prime Day TV deals. View at AmazonThere are even more sleep deals where those came from — check out our roundups of the best Prime Day mattress deals and Prime Day pillow deals. Do I need to be an Amazon Prime member to buy Prime Day deals? Amazon Prime Day deals are comparable to Black Friday and Cyber Monday, with the main difference being that Amazon is the only participating retailer.

Persons: Siri, They're, you’ll, Jonathan Adler, it's, dehumidifier, vacs, Fryer, Foodi, Fry, fryer, MagSafe, Kate Spade, they're, Bose Smart, Ray Soundbar, Ray, Anker, Amazon Nathan James Hugo Wood Nightstand, Nathan James, Inaba, waddle, Dyson, ”, Gabrielle Chase, “, we've, haven't Organizations: Business, Amazon, Apple, Amazon Apple, Apple Health, Amazon LG, Amazon Samsung, Sony WH, Sony, Amazon Sony WH, Amazon Anker, Amazon Bose, Amazon Beats, Samsung, Clarks, Casper, Pillow, Morris, Morris & Co, Toshiba, LG, Dell, Galaxy, Alexa, Amazon Alexa, Hatch, Amazon Belkin, Apple Watch, Nintendo, Nova, Nova Pro, Logitech, Lightspeed, Mac, lounging, Amazon Canada, packers, Amazon Fisher, Prime, Chatelet Air, Dyson, Amazon Philips, Philips, Amazon Prime, Deal Locations: PopSockets, York

Prime Day TV dealsThis Prime Day, we're seeing some of the biggest price drops of the year on top TV models from our favorite brands. Prime Day laptop dealsLaptops go on sale year-round, but Prime Day is traditionally the best time of year to make a purchase. Prime Day mattress dealsMattresses go on sale several times a year, but few sales offer as lucrative mattress discounts as Prime Day. Prime Day Amazon device dealsDuring Prime Day, many of the best Amazon devices see their lowest prices ever. Prime Day travel dealsSummer travel is underway, and so are the best Prime Day deals on luggage and backpacks.

Persons: We've, AirPods, we've, Siri, Samsung's, They're, you’ll, He's, Jonathan Adler, it's, dehumidifier, Dyson, vacs, Crisp, we're, Fryer, Foodi, Fry, fryer, they're, Bose Smart, Ray Soundbar, Ray, Anker, You'll, iPhones, MagSafe, Kate Spade, scoped, Amazon Nathan James Hugo Wood Nightstand, Nathan James, waddle, Inaba, haircare, ”, Gabrielle Chase, “, haven't Organizations: Business, Apple, Amazon Apple, Apple Health, Amazon, Amazon LG, Amazon Samsung, Sony WH, Sony, Amazon Sony WH, Amazon Anker, Amazon Bose, Amazon Beats, Samsung, Clarks, Casper, Pillow, Morris, Morris & Co, Dyson, Upright, Toshiba, FlexBrew, Hamilton, LG, Dell, Alexa, Amazon Alexa, Hatch, Amazon Belkin, Apple Watch, Logitech, Seagate, ASUS, Meta, Nintendo, Nova, Nova Pro, Lightspeed, Mac, Google, Galaxy, lounging, packers, Amazon Fisher, Prime, today's, Chatelet Air, Amazon Canada, Amazon Philips, Philips, Amazon Prime, Deal Locations: November's, PopSockets, York

The Prime Day dehumidifier deals include discounts on the best dehumidifier brands, like Frigidaire, Midea, and more. View at Amazon What we like Check mark icon A check mark. Continuous drain option so you won't have to empty itCheck mark icon A check mark. View at Amazon What we like Check mark icon A check mark. View at Amazon What we like Check mark icon A check mark.

Persons: Frigidaire, dehumidifier Organizations: Business, Energy Star, Amazon, Amazon Prime

View at Amazon What we like Check mark icon A check mark. View at Amazon What we like Check mark icon A check mark. View at Amazon What we like Check mark icon A check mark. View at Amazon What we like Check mark icon A check mark. View at Amazon What we like Check mark icon A check mark.

Persons: haven't, they're, Apple, We're, Siri, we'll, doesn't, Amazon Nathan James Hugo Wood Nightstand, Nathan James, we've, Dyson, you've, it's, fryer, Bose Organizations: Business, Echo, Amazon, Apple, Amazon Apple, Apple Health, Amazon Prime, Olympics, Sony, LG, Samsung, Dolby, Amazon Samsung, lounging, Amazon Philips, Philips, Bose, Amazon Sony WH

To help you browse the best ones going on now, I've rounded up the best 4th of July sales below. The best 4th of July electronics and appliances sales Appliances and electronics are notorious for their hefty price tags, which makes sales like these priceless. In time for the warming weather, I'm seeing some great price drops on air conditioner picks from our guides to the best portable air conditioners and the best air conditioner units. Burrow The best 4th of July home and kitchen dealsIt's a good time to buy furniture, whether you're shopping for indoor or outdoor pieces. SaatvaThe best 4th of July mattress dealsMattresses are on sale most of the year, it's true.

Persons: it's, We'll, BioLite, Abt Friedrich, Friedrich, AJ, AJ Madison Traeger, TCL, Rumpl, Kit, Burrow, Lauren Savoie, Hannah Freedman, Cha, they're, you'll Organizations: Business, Ikea's, Steam, LG, GE, Amazon Prime, Abt, eBay, Energy, AJ Madison, Independence, Samsung, Apple AirPods, Apple, Amazon, GE Gaming, Day, tote Locations: Burrow, Kyusu, Cha Kyusu, Brooklyn, Lo

If you spend a lot of time at home, that can be difficult without an air conditioner — that's why this incredible deal on the Black+Decker Portable Air Conditioner is so worth it. View at AmazonIn our guide to the best portable air conditioner, we love this model for its versatility year-round. EcoFlow Wave 2 Portable Air Conditioner $1,199.00 $2,237.00 Save 46% The EcoFlow Wave 2 is the best battery-powered portable air conditioner we've tested. View at AmazonFrigidaire Inverter Window Room Air Conditioner (FHWW145WE1) $566.00 $629.00 Save 10% The Frigidaire Inverter Window Room Air Conditioner (FHWW145WE1) is the best air conditioner for large rooms, decreasing our sizable test room by four degrees in an hour and featuring an easy setup. View at AbtFriedrich Zoneaire Portable Air Conditioner (ZCP12DB) $779.00 $889.00 Save 12% The dual-hose Friedrich Zoneaire Portable Air Conditioner did the best job cooling and was the quietest portable air conditioner we tested.

Persons: It's, Abt Friedrich, Friedrich Organizations: Business, EcoFlow, Energy, Abt, Madison, Amazon Prime Locations: Midwest, Northeast

To help you browse the best ones going on now, I've rounded up the best 4th of July sales below. Appliances including air conditioners and outdoor fire pits are down to excellent prices for the 4th of July. In time for the warming weather, I'm seeing some great price drops on air conditioner picks from our guides to the best portable air conditioners and the best air conditioner units. EcoFlow Wave 2 Portable Air Conditioner $1,199.00 $2,237.00 Save 46% The EcoFlow Wave 2 is the best battery-powered portable air conditioner we've tested. RumplThe best 4th of July outdoor and camping dealsSeveral stores are welcoming the warm weather and end of the school year by dropping prices on outdoor essentials, from accessories to full-size tents.

Persons: it's, We'll, BioLite, TCL, Rumpl, Kit Organizations: Business, Ikea's, Steam, LG, GE, Amazon Prime, Energy, Independence, Amazon, REI Locations: REI Outlet

Friedrich Chill Premier Smart Window Air Conditioner (CCF08A10A) If you have a medium-sized room, the Friedrich Chill Premier Smart Window Air Conditioner (CCF08A10A) is your best option with its impressive cooling abilities, smart connectivity, and long warranty. Our review of the Friedrich Chill Premier air conditionerAdvertisementSetupThe setup was straightforward and took about 30 minutes. AdvertisementEnergy UseThe Friedrich Chill Premier air conditioner is Energy Star-certified to help protect the climate, save money, and save energy. Read our full Midea U-Shaped air conditioner review and check out our guide to the best air conditioners for more options. If your window doesn't accommodate a window air conditioner, consider picking up one of the recommended models from our best portable air conditioner guide.

Persons: I've, Friedrich, Friedrich Chill, Richard, James Brains, Friedrich Chill Premier, wasn't Organizations: Business, Smart, Friedrich Chill Premier, Premier, Friedrich Chill, Energy Star, Friedrich AC, Google, Amazon Alexa

Shop at Amazon Shop at DreoTyphur Sous Vide Station If you’ve been wanting to venture into the benefits of cooking with Sous Vide, Typhur’s Sous Vide Station incorporates all functions of sous vide cooking into one unit, with a built-in tank, scheduling functions, and step-by-step cooking instructions on a large LCD display. Shop at Amazon Shop at TramontinaAdvertisementSustainability and alternative materialsEco-friendly materials are at the forefront of home and kitchen design. Shop at Amazon Shop at UmbraFull Circle Grate Expectations Stainless Steel Coarse Grater with Food Catcher Full Circle should be on your radar for eco-friendly cleaning tools and hydration solutions. From earth tones and pastels to vibrant collections, you can coordinate your kitchen in monochrome hues, prints, and textures. Shop at Amazon Shop at Walmart Shop at TargetLuma Nugget Countertop Ice Maker We've been searching for a more affordable nugget ice maker, and this small appliance from Luma might be the one.

Persons: It's, Dreo ChefMaker Combi Fryer, you’ve, Zyliss, Joe Derochowski, Dyson, Brabantia Organizations: Business, Shop, kraft, Cork, Walmart, Everest

☆ MSCI China Index: 66 stocks cut from benchmark amid stock market rout
▼ + stars: | 2024-02-14 | by ( Laura He | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —Global stock index compiler MSCI is deleting dozens of companies from its benchmark China Index, which could further exacerbate fund outflows from Chinese equities after a massive stock market rout. The index provider announced this week that it would drop 66 securities from the MSCI China Index, one of its flagship China indexes, as part of the company’s latest quarterly review. The MSCI China Index is the compiler’s key index tracking the Chinese stock market, covering about 85% of the total market capitalization of Chinese companies listed globally. On Monday, MSCI also announced changes to its other China-related indexes, including deleting dozens of stocks from MSCI China A Onshore indexes and MSCI China All Shares indexes. Hong Kong’s stock market reopened on Wednesday after a long holiday weekend, with the benchmark Hang Seng Index up 0.9%.

Persons: MSCI, ”, Luca Paolini, Hong Organizations: Hong Kong CNN — Global, Investors, Greentown China Holdings, Gemdale Corp, Uni, President, China Southern Airlines, Lufax Holdings, Genomics, Midea, MGI Tech, Management Locations: China, Hong Kong, Shanghai, Shenzhen, Fuyang, China's, Anhui, AFP, Hangzhou, President China, Beijing, Geneva, Mainland

The world's biggest shopping event happens in China each year - and it's called Singles Day. WHEN DID THE IDEA OF SINGLES DAY ORIGINATE? The idea for Singles Day had originated at China's Nanjing University back in 1993 and was originally called "Bachelor's Day." Cyber Monday immediately follows Black Friday, which falls on the day after the U.S. Thanksgiving Day holiday, the busiest shopping day of the year in the United States. "The presale period of Tmall and particularly on -- in general, the Singles Day, confirms a softer trend versus a year ago," said Estee Lauder CEO Fabrizio Freda last week, adding that the company was more optimistic about the next part of the Singles Day events in November.

Persons: it's, Bain, Jacob Cooke, Pinduoduo, Cooke, Estee Lauder, Nike, JD.com, Fabrizio Freda, Nicolas Hieronimus, Hieronimus, Granth, Aditya Soni, Diane Craft Organizations: China's Nanjing University, Adobe Analytics, U.S, Reuters, Technologies, Cyber, HK, PDD Holdings, Adobe, Bain, HOPE, Nike, Procter & Gamble, Apple, L'Oreal, Thomson Locations: China, United States, Beijing, Greater China, Bengaluru

☆ One sector in China is beating the slowdown — 3 stocks to play it including one with 80% upside
▼ + stars: | 2023-10-15 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

After Beijing cracked down on real estate developers' high debt levels, banks and other financial institutions drastically pulled back on lending to those companies. Meanwhile, China's latest development plans have emphasized advanced manufacturing — production of goods of higher value than apparel and other lower-cost goods Chinese factories have been known for. But analysts increasingly realize that the high-growth days of real estate are over, weighing further o n the economy in the near term. Oxford Economics expects the economy to slow to a 4.4% pace in 2024 and 4.0% in 2025, dragged down by real estate. China is set to release third-quarter GDP, retail sales, industrial production and fixed asset investment on Wed., Oct. 18.

Persons: That's, hasn't, Banks, Gill, Kharas, Louise Loo, Loo, Brian Tycangco Organizations: People's Bank of China, Oxford, Stansberry Research, HSBC, World, Network Locations: China, Beijing, Oxford, Friday's

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