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☆ Women prefer to play mobile games. China's Tencent sees an opportunity
▼ + stars: | 2024-11-19 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Tencent's Honor of Kings mobile game drew a record 33,000 fans to watch a final competition in Beijing on Nov. 16, 2024. Surprisingly, many in the crowd were young women, reflecting how interest in mobile games has broadened out from the stereotypical male player in the days of console and PC gaming. Honor of Kings, which claims 100 million players a day, uses a similar format with two teams of five players each. His analysis found that 95% of women prefer mobile games. A newly branded Honor of Kings global championship was held last month in Jakarta, Indonesia's capital, with Malaysian team Black Shrew Esports winning the $300,000 first prize.

Persons: Evelyn Cheng, Kings, Gao, of, Jackie Huang, Huang, Xiaofeng Zeng, Niko Partners, Zeng Organizations: Kings, CNBC, of Valor, of Kings, global, Tencent, Gaming, Riot, Malaysian Locations: Beijing, Evelyn Cheng BEIJING, China, Shanghai, Riyadh, Saudi Arabia, Chinese, North America, Europe, Japan, U.S, India, Malaysia, Indonesia, Southeast Asia, Jakarta

☆ China lost 36% of its billionaires to years of economic troubles and crackdowns
▼ + stars: | 2024-10-30 | by ( Hannah Abraham | ) www.businessinsider.com time to read: +7 min

According to Hurun's 2024 rich list, China lost 432 billionaires since the high of 1,185 in 2021. Hurun, a private research group that has tracked Chinese billionaires since 1999, said the total peaked in 2021 with 1,185 billionaires, a figure which fell to 753, a decline of 432, or 36% of the total. It comes as some of China's superrich choose to lie low or leave the country, finding covert ways to take their money with them. "The stories of the individuals on the Hurun China Rich List tell the story of the Chinese economy," said Rupert Hoogewerf, Hurun's Chairman and Chief Researcher. AdvertisementThat led, among other things, to regulatory crackdowns on tech platform companies and campaigns against China's rich entrepreneurs.

Persons: —, crackdowns, China's superrich, Zhang Yiming, Bytedance, Yiming, Zhong Shanshan, Rupert Hoogewerf, Robin Zeng, Li, Kerry Brown, Xi, Jack Ma, Alibaba, Brown, Joel Gallo, China shouldn't, it's Organizations: Service, Reuters, King's College London, Ant Group, & Partners, Bloomberg, New York University Shanghai, Communist Locations: China, Taiwan, Greater China

☆ 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

☆ Chinese travelers trickle back to a Taiwanese island, mere miles from the mainland
▼ + stars: | 2024-10-08 | by ( Jan Camenzind Broomby | Marylou Costa | ) www.cnbc.com time to read: +5 min

All that separates the cafe from mainland China are 6 miles of choppy water and a row of anti-invasion spikes along the beach. A row of anti-invasion spikes line a beach on Kinmen, with the Chinese mainland in the distance. Source: Jan Camenzind BroombyAlthough China claims sovereignty over Taiwan, Chinese tourists were prevented from visiting Taiwan for years. But on Feb. 14, two Chinese citizens were killed during a collision between a Taiwanese Coast Guard boat and a Chinese boat, sparking an escalation of tensions. local business owners have felt the impact of the loss of Chinese tourists, who previously contributed nearly $200 million to Kinmen's annual economy.

Persons: Zhang Zhong, Zhang, Camenzind Broomby, Kinmen, Soldiers, Chen Hua Sheng, weren't, Wu Zeng Yun, Beddy Chang, she's, Wu Zeng Yun —, Wu, Lu Wen Shiung, Lu, Chen Yu Jen Organizations: Kinmen, Taiwanese Coast Guard, Taiwan's Mainland Affairs Council, Matsu Joint Services Center, China's Coast Guard, Chinese Coast Guard Locations: China, Taiwan, Beijing, Kinmen, Kinmen County, Covid, Matsu, Taiwanese

☆ Allianz Global Investors: Recapitalization of Chinese banks critical to sustaining market rally
▼ + stars: | 2024-10-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAllianz Global Investors: Recapitalization of Chinese banks critical to sustaining market rallyJenny Zeng from Allianz Global Investors discusses whether the PBOC's stimulus package is enough to sustain the current Chinese market rally, adding that she is watching if the Chinese government will stay ahead of market expectations.

Persons: Jenny Zeng Organizations: Allianz Global Investors

☆ 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

☆ ‘Table Tennis Grandma’ who made her Olympic debut at 58 says her dream came true, despite loss
▼ + stars: | 2024-08-02 | by ( Kimmy Yam | Kimmy Yam Is A Reporter For Nbc Asian America. | ) www.nbcnews.com time to read: +3 min

Though the athlete, affectionately dubbed the “table tennis Grandma,” lost in the preliminary round on Saturday, bringing her Olympic journey to a close, she says still looking up. “I don’t feel very sad, because this is sport,” Zeng told Reuters. I feel so content.”Zeng, the oldest person to debut in Olympic table tennis, lost to 46-year-oldMariana Sahakian of Lebanon 4-1. At 58 years of age, Chinese-Chilean table tennis player Zhiying Zeng made her debut at the Paris Olympic Games as one of the longest-lived athletes. However, before the sport made its Olympic debut in 1988, table tennis introduced a paddle-related rule change.

Persons: Zeng Zhiying, Zeng, ”, ” Zeng, “, oldMariana, ’ ”, Zhiying Zeng, Rodrigo Arangua, Ni Xialian, Zeng’s, Ni, Sun Yingsha, Tania, she’s, Tia Tania, ” “ I’ve, I’ll, Zheng Haohao, Juan Antonio Jimenez Cobo, Zheng Organizations: Games, Reuters, CNN, Paris Olympic Games, Getty, Olympics, Chinese national, ”, Guardian, Pan, American Games, Juan Antonio Jimenez Cobo of, Sydney Games, NBC Asian Locations: China, Los Angeles, Chile, Lebanon, Santiago, AFP, Paris, Luxembourg, Juan Antonio Jimenez Cobo of Spain, NBC Asian America

☆ Zhiying Zeng: 38 years after ending Olympic dream in China, this ‘table tennis grandma’ will represent Chile at Paris 2024
▼ + stars: | 2024-07-26 | by ( Matias Grez | ) edition.cnn.com time to read: +9 min

CNN —Zhiying Zeng’s eyes begin to sparkle and her gestures become more animated as she recounts the day her lifelong Olympic dream came true. Even in China, by far the world’s most dominant table tennis nation, Zeng’s talents were evident from an early age. When she was 16, she was called up to the Chinese table tennis team for the first time. Finally, 38 years after she gave up on her Olympic dream, Zeng qualified for Paris 2024 at a pre-Olympic qualifying tournament in Lima, Peru, in May this year. “Calm, calm,” Zeng, who says mental fortitude is her biggest asset in table tennis, repeated to herself.

Persons: Zeng, ’, Tania ’ –, –, empanadas, “, Chile Zeng, ”, Rodrigo Arangua, Daniela Ortega, Paulina Vega, Luisa Gonzalez, Reuters “, ’ ”, ” Zeng, Tia Tania ’ –, Tania –, Zeng isn’t, Gabriel Boric, Mariana Sahakian, Zeng’s, “ You’ve Organizations: CNN, Paris, Chile –, CNN Sport, Getty, Games, Pan American, Reuters, Tennis Federation, AP, Pan Am, Olympic Locations: China, Asia, Chile, Chilean, Guangzhou, AFP, Seoul, Arica, –, Iquique, Santiago, Lima , Peru, Lima

☆ Behind the momentum in China market is a 'very great EV story,' analyst says
▼ + stars: | 2024-05-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBehind the momentum in China market is a 'very great EV story,' analyst saysZerlina Zeng, senior credit analyst at CreditSights, discusses China's electric vehicle sector, and says "it's probably a great equity story in the short term, but over the medium to long term we are a bit concerned on the credit fundamental front."

Persons: Zerlina Zeng, it's Locations: China

☆ Match Made in Venice: Tadao Ando and Zeng Fanzhi
▼ + stars: | 2024-04-15 | by ( Andrew Maerkle | ) www.nytimes.com time to read: +1 min

An American institution sponsors an exhibition by a Chinese artist in collaboration with a Japanese architect at a centuries-old Venetian building. This is the kind of far-flung constellation that can only come together during the Venice Biennale, when the historic Italian lagoon city turns into contemporary art’s grandest stage. While the Biennale itself is famed for its national pavilions, scores of collateral exhibitions, some organized independently, proliferate. Ando sculpts intricate yet airy interiors, enlivened by dramatic voids or unexpected lightwells, out of slabs of concrete. And the matchmaker is the Los Angeles County Museum of Art, which is sponsoring a collaborative exhibition in the impressive space of the Scuola Grande della Misericordia in the Cannaregio district of Venice.

Persons: Zeng Fanzhi, Tadao Ando, Pritzker, Ando, “ Zeng Fanzhi Organizations: Venice Biennale, Angeles County Museum of Art, Scuola, della Misericordia Locations: American, Venice, Beijing, Osaka, della, Cannaregio

☆ From the battery boss who naps at noon to the fitness entrepreneur who rises at 3:30 a.m., these are the most unusual CEO habits
▼ + stars: | 2024-04-14 | by ( Alexandra Bacon | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewRunning a company is a stressful job, especially if you're running one of the biggest firms in the world. Here are some of the most unusual routines of CEOs:This story is available exclusively to Business Insider subscribers. Or if you're Elon Musk, your morning routine includes eating a doughnutElon Musk. Taylor Hill/Getty ImagesTesla CEO Elon Musk opts for a sugary start to the day.

Persons: —, Tim Cook, Richard Branson, Josh York, Bob Iger, Chip Somodevilla, Iger, Mikael Berner, Elon, Taylor Hill, Elon Musk, Mark, Mark Zuckerberg, Robin Zeng, CATL, Jack Dorsey, Joe Raedle Jack Dorsey, Dorsey, Gwyneth Paltrow, Rachel Murray, Steven Barlett, Tobias Lutke, brag Organizations: Service, Business, Disney, Getty, Edison Software, EV, Twitter, Telegraph

☆ Looking for leads, not love: Job seekers in China turn Tinder into a networking tool
▼ + stars: | 2024-03-17 | by ( Larissa Gao | Helen Chen | ) www.cnbc.com time to read: +3 min

Similar posts suggesting dating apps as a way to find jobs are not uncommon on Chinese social media. "By using dating apps, we can reach more people," Liang said. But with dating apps, you hang out with strangers for a couple of hours and they can already provide you with tons of their personal information." "I cannot believe people would even go on dating apps to find jobs," read one comment on Weibo, China's equivalent of X. Tinder users in China "are already very selective because the vast majority of users were pursuing degrees overseas," Zeng said.

Persons: Liang, Geng, Tinder, Romy Liu, Liu, Zoey Zeng, Zeng Organizations: NBC News Locations: Huaibei, East China's Anhui, China, Weibo, Hangzhou, Paris, France

☆ Prospects for Chinese offshore property bonds 'not great': Analyst
▼ + stars: | 2024-03-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailProspects for Chinese offshore property bonds 'not great': AnalystZerlina Zeng, senior credit analyst at CreditSights, explains why "it's very hard to identify what assets are available for offshore bondholders."

Persons: Zerlina Zeng

☆ Shadow bank Zhongzhi files for bankruptcy as China's debt and property crisis deepens
▼ + stars: | 2024-01-08 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +2 min

Shadow banks in China operate by pooling household and corporate savings to offer loans to invest in real estate, stocks, bonds, and commodities. Companies such as Zhongzhi have often financed many large Chinese property developers. Hong Kong listed shares of property firms including Logan Group, China Vanke, Sunac and Longfor Group dropped between 2% and 3.6%. More pain for shadow banks? China's government has in the last few years tried to limit the rapid growth of non-bank debt issued by shadow banks.

Persons: Zhongzhi, Commerzbank, Zerlina Zeng, CNBC's Organizations: Zhongzhi Enterprise, Reuters, Beijing, CSI, Logan Group, Longfor, CreditSights Locations: HANGZHOU, CHINA, Hangzhou City, Zhejiang Province, China, Hong Kong

HONG KONG, Dec 5 (Reuters Breakingviews) - Why would the world’s largest battery maker want to sell shares when it’s already flush with liquidity? It ended June with 102 billion yuan ($14 billion) in net cash, Moody’s calculates. CATL has just started production at a new facility in Germany and is building a plant in Hungary, its first forays West. The company’s long-term loans have increased more than tenfold to more than 70 billion yuan and its long-term bonds by around a third to nearly 20 billion yuan since 2020, per Visible Alpha. But as Zeng’s electric dreams accelerate, he’ll want to be sure CATL’s own batteries are fully charged.

Persons: it’s, CATL, Robin Zeng, Breakingviews, Tesla, Antony Currie, Thomas Shum Organizations: Reuters, Hong, Thailand’s, Ford Motor, Technology, Thomson Locations: HONG KONG, Switzerland, CATL, Hong Kong, Shenzhen, China, Europe, Germany, Hungary, Fitch, Indonesia, Swiss

☆ Forget Tesla. Portfolio manager names another way — and stock — to play the EV market
▼ + stars: | 2023-11-28 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

Tesla is a hot favorite when it comes to investing in the electric vehicle market. Brian Arcese, portfolio manager at investment firm Foord Asset Management, said he has a "far less convicted view" in Tesla retaining its dominance than in his preferred investing route in the EV market. He told CNBC Pro Talks last week that he's taken two "slightly untraditional" approaches to investing in that space. He names one U.S. stock, Edison International , as one such U.S. regulated utility company to play the EV trend. But he says that within that space, he's focused on companies that are the lowest-cost producers.

Persons: Tesla, Brian Arcese, he's, Arcese, you've, CNBC's Tanvir Gill, — James Sullivan, Jenny Zeng, Sullivan, there's Organizations: Foord Asset Management, CNBC, Edison International, JPMorgan, Allianz Global Investors Locations: Tesla, Asia, INSEAD, Singapore, China, Korea, U.S

☆ I split my time between Tokyo and Singapore. I don't consider myself a digital nomad, I'm a 'shuttler.'
▼ + stars: | 2023-11-26 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +5 min

Austin Zeng is a freelancer who splits his time evenly between Singapore and Tokyo. He calls himself a "shuttler," and thinks it has clear benefits compared to being a digital nomad. I'm not a digital nomad, I'm a shuttler. While digital nomads jump from place to place to place, I spend my time shuttling between just two cities: Singapore and Tokyo. Unlike me, a digital nomad would be unlikely to stay in Japan during the dead of winter.

Persons: Austin Zeng, it's, —, I'm, Tokyo Austin Zeng, Shinjuku Austin Zeng I'm, It's, Zeng, FOMO Austin Zeng, Austin Zeng FOMO, I've, you'll Organizations: Service, Asahi Locations: Singapore, Tokyo, Shinjuku Austin, Japan, Shinjuku, —, It's, Airbnbs, I'm

☆ Stellantis, CATL sign preliminary deal for LFP battery supply in Europe, consider JV
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +2 min

[1/2] The Stellantis logo is seen during the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. REUTERS/David 'Dee' Delgado Acquire Licensing RightsMILAN, Nov 21 (Reuters) - Carmaker Stellantis (STLAM.MI) and Chinese EV battery giant CATL (300750.SZ) said on Tuesday they signed a preliminary agreement for the supply of battery cells and modules for the automaker's electric vehicle (EV) production in Europe. The two companies said in a joint statement they were also considering a possible investment to set up a 50-50 joint venture to support the automakers' electrification strategy. Stellantis and CATL said the memorandum of understanding (MoU) announced on Tuesday outlined a long-term collaboration between the two groups, including "identifying opportunities to further strengthen the battery value chain". For its EV battery needs in Europe Stellantis is building three gigafactories, in France, Germany and Italy through its ACC joint venture with Mercedes (MBGn.DE) and TotalEnergies (TTEF.PA), while others might follow in the region.

Persons: David, Dee, Delgado, Alfa Romeo, Stellantis, CATL, Robin Zeng, Carlos Tavares, Giulio Piovaccari, Chizu Organizations: New York, REUTERS, EV, Franco, Jeep, Peugeot, Fiat, Alfa, ACC, Mercedes, Fiat Chrysler, PSA, Thomson Locations: Manhattan , New York City, U.S, Europe, Italian, France, Germany, Italy

☆ CNBC Pro Talks goes on the road to find out how to invest for 2024
▼ + stars: | 2023-11-21 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: +3 min

For the first time, CNBC Pro Talks is heading to a business school. Arcese is a portfolio manager on the Foord Global Equity fund and Foord SICAV - Foord International Fund, and has 20 years of experience in both developed and emerging markets, as well as long-only and long/short products. Sullivan joined JPMorgan in 2010 and has held hedge fund management and research roles in Asia since 1998. Learn more from our previous Pro Talks: Looking to invest long-term in Nvidia? Here's how to invest, say the prosFor the first time, CNBC Pro Talks is heading to a business school.

Persons: Tanvir Gill, Brian Arcese, James Sullivan, Jenny Zeng, Foord, Sullivan, Zeng, Morgan Stanley's Slimmon Organizations: CNBC, Foord Asset Management, Asia, JPMorgan, Allianz Global Investors, Foord Global Equity, Foord, Fund, Nvidia, Big Tech Locations: Asia, Singapore, Arcese

The projections prompted U.S. Treasury debt yields to fall slightly, with the benchmark 10-year yield last at 4.88%. "Interest in today's borrowing projections have been higher than normal," said Thomas Simons, money market economist at Jeffries in New York. Investors awaited the Treasury's quarterly refunding statement on Wednesday for details on which maturities will be increased as the department pursues record borrowing levels. QUARTERLY RECORDSThe reduced $776 billion borrowing estimate would still be a record for any October-December period, exceeding the $689 billion in the 2021 quarter boosted by high COVID-19 relief outlays. In the third calendar quarter of 2023, the Treasury said it borrowed $1.01 trillion and ended that period with a cash balance of $657 billion.

Persons: Rick Wilking, Thomas Simons, Jeffries, Steven Zeng, Wednesday's, Zeng, Karen Brettell, David Lawder, Daniel Burns, Davide Barbuscia, Andrea Ricci, Richard Chang Organizations: REUTERS, U.S . Treasury, Treasury, Investors, Deutsche Bank, Thomson Locations: Westminster , Colorado, U.S, California, New York

REUTERS/Dado Ruvic/Illustration//File Photo Acquire Licensing RightsSTOCKHOLM, Oct 26 (Reuters) - The United Nations Secretary-General António Guterres on Thursday announced the creation of a 39-member advisory body to address issues in the international governance of artificial intelligence. Sony (6758.T) Chief Technology Officer Hiroaki Kitano, OpenAI CTO Mira Murati and Microsoft (MSFT.O) Chief Responsible AI Officer Natasha Crampton are among the executives representing technology companies. Since OpenAI launched ChatGPT last year, interest in the new technology has spread across the world, leading AI researchers to raise concerns about "risks to society." While many governments are working to formulate laws to regulate the spread of AI, researchers and lawmakers have called for global collaboration. The UN body will issue preliminary recommendations by the end of this year and final recommendations by the summer of 2024.

Persons: Dado Ruvic, António Guterres, Hiroaki Kitano, Mira Murati, Natasha Crampton, Vilas Dhar, Yi Zeng fom, Mohamed Farahat, Guterres, OpenAI, ChatGPT, Supantha Mukherjee, Sharon Singleton Organizations: REUTERS, Rights, United Nations, Sony, Microsoft, Representatives, UN, Thomson Locations: Rights STOCKHOLM, Spain, Saudi Arabia, U.S, Russia, Japan, Yi Zeng fom China, Stockholm

☆ Cui Chenxi: Teen skateboarder becomes China's youngest Asian Games gold medalist
▼ + stars: | 2023-09-27 | by ( Andrew Mcnicol | ) edition.cnn.com time to read: +4 min

CNN —Thirteen-year-old Cui Chenxi of China clinched gold in women’s skateboarding at the Asian Games on Wednesday, becoming the country’s youngest gold medalist as teenage girls continue to dominate the sport. The street event requires competitors to perform tricks on a track scattered with stairs, rails, ramps, benches and more. While the men’s sport tends to be dominated by athletes in their late teens or early twenties, women’s skateboarding has skewed increasingly younger. China's Cui Chenxi competes in the final of the women's street skateboarding event during the 2022 Asian Games in Hangzhou. Meanwhile in the street event, Momiji Nishiya became Japan’s youngest-ever Olympic champion at 13, while 13-year-old Rayssa Leal of Brazil finished second and 16-year-old Nakayama third.

Persons: Cui Chenxi, Cui, ” Cui, ”, Zeng Wenhui, Ito Miyu, Japan, Funa Nakayama, China's Cui Chenxi, Hector Retamal, ” Cui’s, Alegado, Margielyn Didal, Didal, I’m, Japan’s Hinano, Li Yujuan, Mao Jiasi, Li, Sakura Yosozumi, Kokona Hiraki, Brown, Momiji Nishiya, Rayssa Leal, Nakayama Organizations: CNN, Asian Games, Reuters, Roller Sports, Paris Olympics, Games, Olympic, Getty, Weibo, Japan’s, Brazil Locations: China, Shandong, Hangzhou, Jakarta, Indonesia, Lausanne, Tokyo, AFP, Philippines

HANGZHOU, China Sept 27 (Reuters) - Cui Chenxi became China's youngest Asian Games gold medallist on Wednesday after the 13-year-old skateboarder won the women's street event on day four of competition in Hangzhou. With an eye-catching performance featuring several 'Ollies' and a huge move off a high rail, which several of her competitors avoided, Cui took gold ahead of compatriot Zeng Wenhui, 18, with Japanese 16-year-old Miyu Ito taking bronze. Cui, who hails from China's eastern Shandong province, only took up skateboarding in 2020 when China's COVID restrictions meant she could not practice rollerblading, which she began as a three-year-old. Each athlete's highest scoring run and two highest scoring tricks were then added together to reach a final score. Margielyn Didal, who won gold for the Philippines at the 2018 Asian Games, is still only 24 yet she seemed like a veteran with all her competitors in the final 18 or under.

Persons: Cui Chenxi, Cui, Zeng Wenhui, Miyu Ito, Margielyn Didal, Didal, I'm, Martin Quin Pollard, Dylan Martinez, Peter Rutherford Organizations: Asian, Thomson Locations: HANGZHOU, China, Hangzhou, China's, Shandong, Philippines

NICKELS & STEAMROLLEREstimating the size of hedge funds' basis trade bets is difficult because transparency and visibility around hedge funds is so low at the best of times, especially with regard to their more complex activities and strategies. Many analysts look at leveraged funds' position in Treasuries futures, and the Aug. 30 Fed paper also noted speculators' repo borrowings. This is a fairly reliable sign of basis trade activity, the Aug. 30 Fed paper says. Overnight repo rates have steadily tracked the fed funds policy rate since March 2022. Basis trade liquidation, as funds got squeezed out of their positions through margin and collateral calls as volatility rocketed, likely contributed to that dislocation.

Persons: Steven Zeng, Christoph Schon, Jamie McGeever, Paul Simao Organizations: Fed, Bank for International, Deutsche Bank, STEAMROLLER, Futures, Reuters, Thomson Locations: ORLANDO, Florida, U.S

The trades - typically the domain of macro hedge funds with relative value strategies - consist of selling a futures contract, buying Treasuries deliverable into that contract with repurchase agreement (repo) funding, and delivering them at contract expiry. "Cash-futures basis positions could again be exposed to stress during broader market corrections," Fed economists said in an Aug. 30 note. Separately, in a Sept. 8 note that looked among other things at hedge funds' Treasury exposures, Fed economists said there was a risk of a rapid unwind of basis trade positions in case of higher repo funding costs. "However, the approach they take may not be straightforward as the Fed does not have direct regulatory oversight over hedge funds," he said. "Cash futures basis trades are vulnerable to two risks: higher margin costs on the futures short and higher financing costs on the cash long position," Barclays said in a note on Tuesday.

Persons: Steven Zeng, Deutsche's Zeng, Davide Barbuscia, Megan Davies, Paul Simao Organizations: Federal Reserve, Treasury, repo, Futures Trading Commission, Deutsche Bank, U.S, Barclays, Thomson Locations: U.S, Treasuries

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