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☆ Caixin PMI: China’s factory activity expands again in November, beats forecasts
▼ + stars: | 2024-12-02 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

China's manufacturing activity continued to expand among smaller manufacturers in November, signaling that the country's recent stimulus efforts have already helped to lift certain sectors of its ailing economy, according to a private survey released Monday. The Caixin/S&P Global manufacturing purchasing manager's index came in at 51.5, beating the median estimate of 50.5 in a Reuters poll. The Caixin survey tends to feature more small- and medium-sized firms as well as private sector companies, compared to the official PMI survey which typically polls large and state-owned firms. China's economy has shown some early signs of recovery following a slate of stimulus measures introduced from late September. However, Donald Trump's 2024 presidential win has raised concerns over increased tariffs on Chinese goods, which could dent its export sector.

Persons: Donald Trump's Organizations: P Global, PMI, Reuters, People's Bank of China Locations: China

☆ China bonds rally with 10-year yield hitting a multi-decade low on rate cut expectations
▼ + stars: | 2024-12-02 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +4 min

China bonds rallied Monday with the 10-year yield dropping below the key psychological level of 2% to hit a multi-decade low, amid expectations that Beijing could expand its stimulus measures to shore up the economy. Yields on China's 10-year government bond, which move inversely to prices, fell to 1.9636% on Monday, data from LSEG showed, marking its lowest level in 22 years. 30-year bond yields dropped to 2.164%. "The resistance for further downside [on bond yields] may increase due to higher government bond issuance and upcoming major meetings," OCBC's Xie noted. China's 10-year yield remains far lower than the U.S. 10-year Treasury yield of over 4%.

Persons: Tommy Xie, Edmund Goh, Goh, Pan Gongsheng, OCBC's Xie, Xie, Eugene Hsiao Organizations: OCBC Bank, People's Bank of China, CNBC, Communist Party, Macquarie Locations: China, Beijing, LSEG, Asia, U.S

☆ China's central bank keeps medium-term loan rate unchanged amid yuan weakness
▼ + stars: | 2024-11-25 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +4 min

A man walks past the People's Bank of China (PBOC) building on July 20, 2023 in Beijing, China. The People's Bank of China kept the medium-term lending facility rate unchanged at 2.0% on 900 billion yuan ($124.26 billion) worth of one-year loans to some financial institutions, according to the bank's official statement. Keeping the MLF rate intact allows for "greater policy maneuverability" given the change in U.S. administration, at a time when commercial banks' net-interest-margins have remained tight, Pang added. "A delayed reduction in the [MLF] lending rates" would also bolster the yuan against the stronger greenback, JLL's Pang added. Unlike the Fed's focus on a main interest rate, the PBOC uses a variety of rates to manage monetary policy.

Persons: Jiang Qiming, Donald Trump's, Bruce Pang, PBOC's, Pang, Wang Tao, Zhiwei Zhang, JLL's Pang, Gary Ng, PBOC, Pan Gongsheng Organizations: People's Bank of China, China News Service, Getty Images China, U.S, Research, UBS Investment Bank, Beijing Locations: Beijing, China, Greater China, JLL

☆ Market veteran Howard Marks cautions that China's economic growth target is a 'Herculean challenge'
▼ + stars: | 2024-11-19 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

Veteran investor Howard Marks said he was hopeful about China's economy, but cautioned that the country's growth target was a monumental challenge. China has set a growth target of "around 5%" for 2024, though Bank of America and Citigroup, among others, have projected the world's second-largest economy will grow at under 5%. The World Bank has pegged China growth in 2024 at 4.8%, and expects it to decline further to 4.3% next year, despite a recent slate measures to boost the economy. The World Bank cited headwinds such as sluggish Chinese consumer spending, a struggling property market and an ageing population as key concerns for the world's second-largest economy. "You can't produce economic growth through stimulus perpetually.

Persons: Howard Marks, Marks, CNBC's Emily Chan, it's, Donald Trump's, Xi Jinping Organizations: Oaktree Capital Management, Global Financial, Investment Summit, Hong Kong Monetary Authority, Bank of America, Citigroup, Bank, People's Bank of China Locations: China

☆ China cuts benchmark lending rates by 25 basis points
▼ + stars: | 2024-10-21 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

China on Monday lowered its main benchmark lending rates by 25 basis points at the monthly fixing. The one-year loan prime rate (LPR) has been cut to 3.1%, while the five-year LPR has been trimmed to 3.6%, the People's Bank of China (PBOC) said. The one-year LPR influences corporate loans and most household loans in China, while the five-year LPR serves as a benchmark for mortgage rates. China's central bank governor Pan Gongsheng had indicated on Friday during a forum held in Beijing that the loan prime benchmark rates would be lowered by 20 to 25 basis points. The seven-day reverse repurchase rate will be cut by 20 basis points, while the medium-term lending facility rate will be lowered by 30 basis points, Pan also highlighted.

Persons: LPR, Pan Gongsheng, Pan, Shane Oliver, Zhiwei Zhang, — CNBC's Evelyn Cheng Organizations: People's Bank of China, AMP Locations: China, Beijing

☆ China pledges more financial support for 'whitelist' real estate projects
▼ + stars: | 2024-10-17 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +4 min

China vowed more financial support for real estate projects that fall under its so-called whitelist and to speed up banks lending of 4 trillion yuan ($561.8 billion) for such projects, according to the nation's housing ministry. A total of 2.23 trillion yuan has been approved in loans to whitelisted developers, and that figure is expected to exceed 4 trillion yuan by the end of this year, according to a senior official from the financial regulator. Real estate was also the leading gainer in Mainland China's CSI 300, advancing by nearly 5%. Days later, officials in a top-level meeting, chaired by Chinese president Xi Jinping, pledged to "halt the real estate market decline and spur a stable recovery." More than 50 cities across China had introduced policies to boost the real estate market, according to Chinese state media citing the housing ministry.

Persons: Ni, HSMPI, Pan Gongsheng, Xi Jinping, Goldman Sachs, —, — CNBC's Evelyn Cheng Organizations: National Financial Regulatory Administration, Investors, China's Ministry of Finance, Mainland, China's CSI, People Bank of China, National Bureau, Statistics Locations: China, Beijing, China's, Guangzhou, Shanghai, Shenzhen

☆ Wall Street giants like Goldman quickly up their bets on Chinese markets amid stimulus promises
▼ + stars: | 2024-10-08 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

Goldman Sachs is the latest in a flurry of calls to upgrade China stocks after the Asian giant's recent wave of stimulus measures. Goldman predicts that Chinese stocks could even jump a further 15% to 20%, given the powerful comeback rally that has already occurred. It says the MSCI China index could have another 15% upside, and the CSI 300 index could enjoy a further 18% upside. In a Monday note, Citi also increased its price target for Chinese stocks. Following that, Wall Street started getting bullish on those stocks again, with Morgan Stanley predicting Chinese stocks are set to rally 10% and more.

Persons: Goldman Sachs, Goldman, Morgan Stanley, —, Vishnu Varathan Organizations: CSI, Citi, Wall, BlackRock Investment Institute, Mizuho Securities Locations: China, China's

☆ Morgan Stanley names China stocks set to benefit from a 'sustained rally'
▼ + stars: | 2024-10-01 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Morgan Stanley says that Chinese stocks could enjoy a more "sustained rally" in the next phase — beyond a near-term jump — as they ride on the wave of stimulus measures and signals announced last week. They predict at least a 10% rally in the near term , and even more ahead. Against that backdrop, the bank indicated its preference for certain stocks that are set to benefit from easing measures. Stock screens Morgan Stanley did a few stock screens to sieve out those set to benefit. Morgan Stanley says it expected a supplementary budget to be announced in late October, supporting consumption and local government financing.

Persons: Morgan Stanley, Evelyn Cheng Locations: Hong Kong, China

☆ China's factory activity contracts less than expected in September
▼ + stars: | 2024-09-30 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +3 min

China's factory activity contracted for a fifth consecutive month in September as the world's second-largest economy struggles to revive its growth momentum. A PMI reading above 50 indicates expansion in activity, while a reading below that level points to contraction. However, China's Caixin PMI was 49.3, compared to 50.4 in August, according to the private survey compiled by S&P Global. The Caixin data released on Monday indicated that China's manufacturing sector experienced its sharpest contraction in 14 months in September, driven by declining demand and a weakening labor market. Headwinds for the manufacturing sector has continued to mount as a prolonged economic slowdown and property crisis dampen domestic demand.

Persons: Zhao Qinghe, Xi Jinping Organizations: National Bureau of Statistics, PMI, Reuters, NBS, P Global, National Bureau, Statistics, People's Bank of China

☆ 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

China's industrial profits plunged by 17.8% in August from a year ago, the National Bureau of Statistics said Friday. Industrial profits covers factories, mines and utilities in China. Sluggish domestic demand, a prolonged housing downturn and rising unemployment have weighed on the world's second largest economy. In August, China's industrial activity, retail sales and urban investment all grew slower than expected, with retail sales rising by barely more than 2% and industrial production by 4.5% from a year ago. The urban unemployment rate was 5.3% in August, an uptick from 5.2% in the previous month.

Persons: China's, Xi Jinping, Pan Gongsheng Organizations: National Bureau of Statistics, People's Bank of China Locations: China's, Jiangsu, China, Beijing

☆ China's surprise stimulus could be a red flag, so investors should approach the nation's long-awaited rally with caution
▼ + stars: | 2024-09-26 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

AdvertisementLorraine Tan, Morningstar's director of equity research for Asia, also thinks monetary stimulus won't be sufficient. History says their skepticism is warranted, as China's past stimulus efforts have often failed to lead to sustainable gains. Even if this surge holds up, it won't necessarily spark a self-fulfilling prophecy that provides a lasting boost for China's economy. But others like Tan from Morningstar believe this bad news is reflected in Chinese stocks' cheap valuations. The team at UBS Global Wealth Management is also cautiously optimistic about Chinese stocks after this news.

Persons: —, they're, Betty Wang, Marcelli, Lorraine Tan, Tan, Brian Mulberry, Mulberry, Wang, China isn't, Jeff Kleintop, Charles Schwab, Donald Trump, Rory Green, Xi Jinping, Biden, Trump, That's, Kleintop, Morningstar, she'd Organizations: Service, Business, People's Bank of, Oxford Economics, UBS Global Wealth Management, Zacks Investment Management, Federal Reserve, BI Locations: China, People's Bank of China, Asia, Central, Republic

☆ Chinese yuan hits strongest level against the dollar in over 16 months as investors assess PBOC stimulus
▼ + stars: | 2024-09-25 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +3 min

The Chinese yuan has weakened sharply against the U.S. dollar in the last several weeks as the greenback strengthens and investors worry about China's economic growth. China's yuan hit its strongest level in over 16 months on Wednesday after Beijing unveiled a slate of stimulus measures to shore up the slowing economy on Tuesday. The Chinese offshore yuan strengthened briefly to 6.9946 per dollar, the strongest since May 2023. China's onshore yuan is currently trading at 7.0319 against the greenback, also holding at the strongest levels since last May. China bonds rallied after the PBOC announcement with 10-year and 30-year yields hitting record lows.

Persons: Ben Emons, Edmund Goh, Zerlina Zeng, CreditSights, Pan Gongsheng, Emons, Hong, — CNBC's Evelyn Cheng Organizations: U.S, Beijing, greenback, Fed Watch, BNP, U.S ., Asia Credit, People's Bank of China Gov, CSI Locations: China, abrdn, Hong Kong, London, Singapore, New York

☆ China central bank releases slate of support measures amid a deepening economic slump
▼ + stars: | 2024-09-24 | by ( Evelyn Cheng | Evelyn Cheng Is A Senior Correspondent With Cnbc. | ) www.nbcnews.com time to read: +6 min

Lynn Song, chief economist for greater China ING, called the repo rate cut announcement “the most important” move made during the news conference. “If we see a large fiscal policy push as well, momentum could recover heading into the fourth quarter.”The headquarters of the People’s Bank of China in Beijing. During his first news conference as central bank governor in January, Pan said the PBOC would cut the reserve requirement ratio. Unlike the Fed’s focus on a main interest rate, the PBOC uses a variety of rates to manage monetary policy. Pan has indicated he would like the 7-day rate to become the main policy rate.

Persons: Pan Gongsheng, Pan, Lynn Song, ”, “, Jiang Qiming, ” Edmund Goh, Goldman Sachs, Li Yunze, Li, Nomura Organizations: People’s Bank of China Gov, China ING, “, U.S . Federal Reserve, People’s Bank of China, China News Service, Getty, Pan, National Financial Regulatory Administration Locations: BEIJING, China, Beijing, abrdn

☆ China's central bank chief set to hold press conference days after Fed rate cut
▼ + stars: | 2024-09-24 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

The relatively rare high-level press conference was scheduled after the U.S. Federal Reserve cut interest rates last week. That kicked off an easing cycle that theoretically gives China's central bank further room to cut its rates and boost growth in the face of deflationary pressure. Pan became PBOC governor in July 2023. He then told reporters in March, alongside China's annual parliamentary meeting, there was room to cut the RRR further. China's government system also means that policy is set at a far higher level than that of the financial regulators speaking Tuesday.

Persons: Pan Gongsheng, Gongsheng, Pan Organizations: People's Bank of China, BEIJING — People's Bank of China Gov, U.S . Federal Reserve Locations: Shanghai, China, BEIJING

☆ China's auto stocks rise unfazed by U.S. proposal to ban Chinese car parts
▼ + stars: | 2024-09-24 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

Rows of new energy vehicles are parked at Changan Automobile's vehicle distribution center in Chongqing, China, on January 14, 2024. Shares of Chinese automakers climbed Tuesday, shrugging off a U.S. government proposal to ban certain types of vehicles equipped with car parts from China and Russia, amid a broad rally after Beijing announced policy easing. The Joe Biden administration has cited national security risks for its latest measure aimed at curbing Chinese auto industry's influence and reach in the U.S."Cars today have cameras, microphones, GPS tracking, and other technologies connected to the internet. U.S. proposal to ban Chinese auto parts may not have a direct negative impact on the Chinese auto industry as the sales volume of Chinese auto exports to the U.S. markets are "very small" and limited, Wu said. Additionally, Chinese parts companies have already set up factories in South America, which can be exported directly to U.S. markets under the U.S.-Mexico Tariff Agreement, he added.

Persons: shrugging, Li, Nio, Leapmotor, Joe Biden, Gina Raimondo, Ivan Wu, Pan Gongsheng, Wu Organizations: Beijing, Guotai, People's Bank of China Gov, U.S, China Automobile Dealers Association Locations: Chongqing, China, U.S, Russia, Hong Kong, South America, Mexico

☆ Property stocks in Hong Kong rally on homes mortgage stimulus
▼ + stars: | 2024-09-24 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +3 min

Chinese property stocks rallied on Tuesday after top financial regulators vowed a range of monetary easing measures to provide some relief for millions of families and boost a recovery in the real estate market. During a high-level press conference Tuesday morning, People's Bank of China Gov. Hang Seng Mainland Properties Index surged as much as 5% when Hong Kong markets opened shortly after the announcement was made. Chinese policymakers have been ramping up support to reduce household's financial burden and shore up the troubled real estate sector. Homeowners could also be allowed to refinance with a different bank for the first time in years, the outlet reported.

Persons: Pan Gongsheng, Pan, William Wu, Bruce Pang, Pang Organizations: People's Bank of China Gov, Mainland Properties, Longfor Group Holdings, China Overseas Land & Investment, Daiwa, Bloomberg Locations: Beijing, Hang, Hong Kong, China, JLL

☆ China just released aggressive measures to boost its economy — but some analysts say it's still not enough
▼ + stars: | 2024-09-24 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

"Today's policy measures are bold by historical standards," Betty Wang, the lead economist at Oxford Economics, wrote in a note on Tuesday. Stimulus measures don't address consumptionDespite the fanfare, analysts are divided over whether the moves that ease monetary policy constitute a massive "bazooka" stimulus. AdvertisementMost say the monetary easing policies don't address the lack of confidence contributing to depressed consumer spending. China has pulled out multiple support measures this year to shore up its economy and stock markets, but any kneejerk optimism has been shortlived. Advertisement"Overall, we feel today's measures are a step in the right direction, especially as multiple measures have been announced together rather than spacing out individual piecemeal measures to a more limited effect," Lynn Song, the Greater China chief economist at ING bank, wrote on Tuesday.

Persons: —, Pan Gongsheng, Pan, Betty Wang, Wang, it's, Nomura, Lynn Song Organizations: Service, People's Bank of China, Business, Analysts, Oxford Economics, CSI, Nomura, ING Locations: Beijing, China, Greater China

☆ Payal Kapadia: India celebrates historic win at Cannes Film Festival
▼ + stars: | 2024-05-27 | by ( Rhea Mogul | ) edition.cnn.com time to read: +3 min

CNN —Filmmaker Payal Kapadia made history Saturday, as she became the first person from India to clinch the prestigious Grand Prix at the 77th Cannes Film Festival, the second highest prize after the Palme d’Or. It is the first Indian movie in three decades to compete in Cannes’ main competition. “Please don’t wait another 30 years to have an Indian film,” she said to the audience. “Indian stars shining bright… These women have scripted history, and inspired the entire Indian film fraternity,” he wrote on the platform. In 1947, filmmaker Chetan Anand took Cannes’ top prize for his film “Neecha Nagar,” becoming the only Indian to win the accolade.

Persons: Payal Kapadia, Palme, ” Kapadia, Greta Gerwig, Lily Gladstone, ”, Narendra Modi, ” Rahul Gandhi, India’s, Anasuya Sengupta, “, Chhaya, Divya Prabha, Stephane Cardinale, Corbis, Hridhu Haroon, Kartiki Gonsalves, Chetan Anand, Neecha, Kapadia Organizations: CNN, Prix, Cannes Film, Cannes, Indian National Congress, Grand, “ Salaam, Hollywood, Cannes ’ Locations: India, Mumbai, Cannes, “, “ Salaam Bombay, Kani, Indian

☆ China's economy reveals pockets of softness. Here's what to watch ahead of Friday's data
▼ + stars: | 2024-05-15 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

The National Bureau of Statistics is due to release data on retail sales, industrial production and fixed asset investment for April on Friday. Some of the weakness speaks to genuine sluggish demand in China at present. The firm expects this week's economic data releases to show a "softening in economic momentum," affirming its forecasts for the central bank to cut rates by the end of June. "Some of the weakness speaks to genuine sluggish demand in China at present," said Hui Shan, Goldman Sachs' China chief economist, in a note Sunday. Businesses' loan demand fallsNew bank loans to businesses and government organizations dropped sharply in April from March, as did new loans to households, according to official data accessed through Wind Information.

Persons: Hui Shan Goldman Sachs, Louise Loo, Goldman Sachs, Hui Shan, Goldman, RRR, Pan Gongsheng Organizations: Visual China, Getty, BEIJING, National Bureau, Statistics, Reuters, Finance, Oxford Economics, People's Bank of, Information, Clocktower, CNBC Locations: Lianyungang, Jiangsu Province, China, —, Beijing, People's Bank of China

☆ China's consumer prices rise for 3rd month, factory deflation persists
▼ + stars: | 2024-05-11 | by ( ) www.cnbc.com time to read: +1 min

Citizens are shopping at a supermarket in Nanjing, East China's Jiangsu province, on March 9, 2024. China's consumer prices rose in April for a third straight month, while producer prices extended declines, suggesting resilient domestic demand, despite a shaky economic recovery. The consumer price index (CPI) edged up 0.3% in April from a year earlier, accelerating from a rise of 0.1% in March, data from the National Bureau of Statistics (NBS) showed on Saturday. CPI rose 0.1% from the previous month, reversing a drop of 1% in March and above a decline of 0.1% predicted by economists. The producer price index (PPI) dropped 2.5% in April from a year earlier, easing from a slide of 2.8% the previous month and compared with a forecast decline of 2.3%.

Organizations: National Bureau of Statistics, Labour, Communist Party Locations: Nanjing, East China's Jiangsu, China

☆ China February new bank loans dip more than expected, lending growth at record low
▼ + stars: | 2024-03-18 | by ( ) www.cnbc.com time to read: +2 min

New bank lending in China fell more than expected in February from a record high the previous month, even as the central bank seeks to spur sluggish economic growth and fight deflationary pressures. New bank lending in China fell more than expected in February from a record high the previous month, even as the central bank seeks to spur sluggish economic growth and fight deflationary pressures. Outstanding yuan loans grew 10.1% from a year earlier — the lowest on record — compared with 10.4% growth in January. Analysts polled by Reuters had predicted new yuan loans would fall to 1.50 trillion yuan in February from 4.92 trillion yuan the previous month and against 1.81 trillion yuan a year earlier. Chinese banks made 6.37 trillion yuan in new yuan loans in the first two months of 2024, data released by the central bank showed on Friday.

Organizations: People's Bank of China, Analysts, Reuters, ING, Consumer Locations: Beijing, China

☆ China is ramping up stimulus to boost market confidence — but is it enough?
▼ + stars: | 2024-01-25 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Starting Feb. 5, the People's Bank of China will allow banks to hold smaller cash reserves, central bank governor Pan Gongsheng said at a press conference, his first in the role. Cutting the reserve requirement ratio (RRR) by 50 basis points is set to release 1 trillion yuan ($139.8 billion) in long-term capital, the central bank said. A 2 trillion yuan boost? Chinese Premier Li Qiang on Monday called for much stronger measures to boost market stability and confidence, according to an official readout. Chinese authorities in October already announced the issuance of 1 trillion yuan in government bonds, alongside a rare increase in the deficit.

Persons: Gongsheng, Pan Gongsheng, Tao Wang, Ting Lu, a, Lu, Wang, Stocks, Winnie Wu, That's, Li Qiang, Pan, Philip Yin, David Chao, Pan's Organizations: People's Bank of China, State Administration of Foreign Exchange, Financial, Getty, Visual China, People's Bank of, UBS Investment Bank, Wednesday, National Financial Regulatory Administration, UBS, Bank of America's, Bloomberg, PBOC, Citi, U.S, Asia Pacific, CNBC Locations: BEIJING, CHINA, Beijing, China, People's Bank of China, Asia, Hong Kong, capitulating, Japan, Invesco

☆ Photos: Ayodhya Ram Mandir temple inaugurated in consecration ceremony overseen by Modi
▼ + stars: | 2024-01-23 | by ( Rhea Mogul | ) edition.cnn.com time to read: +4 min

Crowds gather during the opening of a temple dedicated to Hindu deity Lord Ram, in Ayodhya, India, on January 22, 2024. Inside the sanctum sanctorum of the temple Monday, Modi presided over the Pran Pratishtha, or consecration ceremony, of an idol of Lord Ram, one of Hinduism’s most revered deities. Indian Prime Minister Narendra Modi plays a leading role in the ceremony consecrating a statue of the god Ram. “Today our Lord Ram has come. A man prays on the banks of Sarayu River on the occasion of Ram temple's consecration ceremony in Ayodhya on January 22, 2024.

Persons: Narendra Modi, Lord Ram, Rajesh Kumar Singh, –, Modi, Pran Pratishtha, Ram, Imtiyaz Khan, ” Modi, “ Ram, Money Sharma, Hinduism's Lord Ram, Amitabh Bachchan, Sachin Tendulkar, Mukesh Ambani, Anupam Kher, Beckham, ”, Ram Charan, Alia Bhatt, Ranbir Kapoor, Madhuri Dixit Nene, Katrina Kaif, Ayushmann Khurrana, Vicky Kaushal, Alia Bhatt Rajesh Kumar Singh Organizations: CNN, Indian, Anadolu, Getty Locations: Ayodhya, India, India's Uttar Pradesh, Sarayu, Babri

☆ Here are Thursday's biggest analyst calls: Apple, Netflix, Nvidia, Meta, Rivian, Costco, Hertz, Microsoft & more
▼ + stars: | 2024-01-18 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Bank of America upgrades Apple to buy from neutral Bank of America said AI and Vision Pro should drive upside for Apple. Bank of America reiterates Microsoft as buy Bank of America raised its price target on Microsoft to $450 per share from $430. Guggenheim reiterates Target as buy Guggenheim said Target is well positioned in 2024. Bank of America names Harley Davidson a top pick Bank of America said the motorcycle company is well positioned for 2024. " Bank of America reiterates ServiceNow as a top pick Bank of America said the stock remains a top idea for 2024.

Persons: KBW downgrades Charles Schwab, KBW, Mizuho, Robinhood, ., DA Davidson, Baird, Rivian, Wolfe, it's, Wells, it's bullish, Bernstein, Guggenheim, Piper Sandler, Tempur Sealy, TPX, CFRA, Harley Davidson, Oppenheimer, Morgan Stanley, Hertz, ServiceNow, Argus, Salesforce, Mike Blake Organizations: UBS, Netflix, Bank of America, Apple, of America, Nvidia, Semiconductors, Barclays, Red Rock Resorts, Vegas Locals, Microsoft, Guggenheim, Citi, JetBlue, Spirit, Costco, Piper, Palo Alto Networks, Paramount, Nasdaq, Hertz, Blackrock, Amazon, Deutsche Bank, Deutsche, JPMorgan Locations: repurchases, Palo, Palo Alto, Southeast China, 1H24, Los Angeles

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