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☆ JPMorgan upgrades this Chinese social media platform, says it can surge more than 50%
▼ + stars: | 2023-04-14 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

China's live streaming sector could return to growth this year after losing 2% in 2022, and shares of Hello Group can capitalize on that trend, according to JPMorgan. MOMO YTD mountain MOMO was a standout among US traded Chinese stocks for JPMorgan, and the company could return to positive revenue growth in 2023. Hello Group isn't the only company that will benefit from a rebound in live streaming in China. Some of the firm's other top picks in the Chinese live streaming space include Kuaishou , Bilibili , Tencent Music Entertainment , and Joyy . "We are positive on the strong growth outlook for its various business segments (ads, eCommerce, live streaming) and expect it to achieve full-year profitability in 2023," Chen said.

Ganfeng said in a response to Reuters that no discussions on a floor price had taken place. Zhicun Lithium, one of the top lithium carbonate producers in China, was also represented at the meeting, said four of the people, but could not be reached for comment. It is not clear how long the companies, which account for over half China's lithium carbonate output, will follow the floor price. However, some buyers were sceptical that producers would stick to the floor price, given the sluggish demand. "If we don't buy, someone will eventually drop the price," said a lithium carbonate buyer briefed on the decision.

☆ Peru's Garcia Leon breaks 35 km race walk world record
▼ + stars: | 2023-03-25 | by ( ) www.reuters.com time to read: 1 min

March 25 (Reuters) - Peru's Kimberly Garcia Leon broke the 35 km race walk world record on Saturday with a time of two hours 37 minutes and 44 seconds in Dudince, Slovakia. The world champion in both the 20km and 35 km walk broke the previous record of 2:38:24 set by Russian Klavdiya Afanasyeva in 2019, in a warning to her rivals ahead of the Paris Olympics next year. China's Liu Hong came in second in an Asian record of 2:40:06 while Magaly Bonilla from Ecuador took third place. At Paris 2024, there will only be one race of 20km for the women and a 35km mixed team race walk. Reporting by Tommy Lund in Gdansk Editing by Toby DavisOur Standards: The Thomson Reuters Trust Principles.

Spot lithium carbonate prices assessed by Fastmarkets fell to 260,000 yuan ($38,079.06) per tonne this week, less than half the price quoted last November. Five analysts polled by Reuters last month had expected the price would drop to 300,000 yuan by the end of this year. "The unprecedented price cuts among traditional auto makers will eat EVs' market share in the short term, hitting lithium demand further," said Vicky Zhao, a Beijing-based senior analyst at Fastmarkets. Lithium prices in the United States and Europe have also fallen, albeit less sharply, amid rising but still tight supplies and a stronger outlook for EV sales. ($1 = 6.8279 Chinese yuan renminbi)Reporting by Siyi Liu and Dominique Patton; Editing by Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

☆ China's liaisons with Russia are fueling an awkward split among European leaders
▼ + stars: | 2023-03-23 | by ( Silvia Amaro | ) www.cnbc.com time to read: +4 min

Russian President Vladimir Putin and Chinese President Xi Jinping at the Kremlin in Moscow, Russia, March 21, 2023. Chinese President Xi Jinping traveled to Russia earlier this week, where both leaders shared mutual concerns, warm words and called one another "dear friend." Speaking alongside Russian President Vladimir Putin, the Chinese leader Xi Jinping predicted voters would re-elect his Russian counterpart next year and described his leadership as "strong." "We have looked very carefully at [the] communication coming out of the Xi Jinping meeting with Vladimir Putin," Dutch Prime Minister Mark Rutte told CNBC. "We very much hope that the phone call will take place as soon as possible between Xi Jinping and Volodymyr Zelenskyy."

☆ Mistakes by the US's top spies allowed China to turn a deadly mid-air collision into an intelligence coup
▼ + stars: | 2023-03-22 | by ( James Bamford | ) www.businessinsider.com time to read: +36 min

On April 1, 2001, a US EP-3 spy plane collided with a Chinese fighter jet over the South China Sea. One of eleven left in the fleet, the tired 1960s-era spy plane bristled with porcupine-like antennas. Within minutes, however, the fighters had reached the lumbering spy plane, and while Zhao Yu hung back about a half-mile, Wang Wei rapidly closed in. In severe trouble, he immediately radioed the base, telling them he was unable to maneuver and being sucked in by the spy plane. "You are not allowed aboard the aircraft," Osborn said.

☆ China's Li Keqiang announces lowest GDP target in decades amid major economic leadership overhaul
▼ + stars: | 2023-03-06 | by ( Laura He | ) edition.cnn.com time to read: +6 min

Hong Kong CNN —China’s outgoing Premier Li Keqiang has announced the country’s lowest GDP growth target in decades, highlighting the domestic and global challenges the world’s second largest economy still faces despite its decision late last year to ditch draconian anti-Covid measures. It fell well short of the official growth target of “around 5.5%.”“Having declared the end of pandemic, the leaders are sticking to the slowing GDP growth path in the long term by lowering annual GDP target gradually,” said Ken Cheung, chief Asian foreign exchange strategist at Mizuho Bank. “Moreover, China has been downplaying the numeric GDP target and shifted to balance the quality since President Xi’s era,” he said. Premier Li also said the government would only raise fiscal spending by 5.6% this year, which is lower than the growth of 6.1% in fiscal spending in 2022. “After three years of pandemic [measures], it could be more than desirable for governments, especially the local governments, to restore fiscal resilience,” said Citi analysts.

[1/7] Farmer Wang Zhanling sits next to his wife in their house in Quansheng village, Heilongjiang Province, China, February 8, 2023. The state-run Chinese Academy of Sciences sees the pension system running out of money by 2035. "If the pension system does not change, this is unsustainable," said Xiujian Peng, senior research fellow in the Centre of Policy Studies at Victoria University in Australia. The province has the lowest birth rate in China, with just over 100,000 births in 2021 and 460,000 deaths. Many experts, including Macquarie's chief China economist Larry Hu, suggest implementing a unified national pension system, backstopped by the more resourceful central government rather than cash-strapped local administrations.

Rystad Energy sees the global market deficit of lithium shrinking to around 20,000 to 30,000 tonnes of lithium carbonate equivalent (LCE) this year, from 76,000 tonnes LCE in 2022. Out to 2025 it expects lithium supply to grow on average by 34% a year against an annual demand growth rate of 25%. MINERS UNFAZEDThe decline in lithium prices in China, the world's biggest consumer, has hit lithium producers overseas. LITHIUM CARBONATE SINKSThe price decline has been sharp. "A lithium carbonate price of 200,000-300,000 yuan per tonne is where both upstream and downstream will feel comfortable," said Rystad's Zou.

☆ 'Not rational' for China to negotiate outcome of Ukraine war -Biden
▼ + stars: | 2023-02-25 | by ( ) www.reuters.com time to read: +1 min

Feb 24 (Reuters) - U.S. President Joe Biden told ABC News in an interview on Friday that the idea China would be negotiating the outcome of the Ukraine war was not rational, following the release of Beijing's peace plan for the conflict. Biden told ABC News on the one-year anniversary of the war. "The idea that China is going to be negotiating the outcome of a war that's a totally unjust war for Ukraine is just not rational." Biden also repeated comments that he would not be sending F-16s to Ukraine for now, saying Ukrainian President Volodymyr Zelenskiy did not need the fighter jets for the moment. Reporting by Eric Beech and Costas Pitas; Editing by Sandra Maler and Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

Jet fuel this year will be the largest source of oil demand growth, says the International Energy Agency, which monitors energy consumption. In Singapore, jet fuel is trading around $122.30 per barrel, up 14% in the last two weeks. "Overall, we expect jet demand to increase significantly this year," he told an earnings call on Thursday, as air travel continues to rise. U.S. jet fuel inventories ended last year at 34 million barrels, the lowest since 1990, according to U.S. government data. Total jet fuel supplied, a proxy for demand, stood at 1.56 million barrels per day in 2022, the highest since 2019.

☆ Gulf markets rise on China demand optimism
▼ + stars: | 2023-01-24 | by ( Md Manzer Hussain | ) www.reuters.com time to read: +3 min

Jan 24 (Reuters) - Gulf stock markets closed higher on Tuesday on expectations of economic recovery in the world's second largest economy, China, and smaller interest rate hikes from the U.S. Federal Reserve. Most Gulf currencies are pegged to the U.S. dollar, while Saudi Arabia, the United Arab Emirates and Qatar usually mirror U.S. monetary policy changes. The world's largest Islamic bank by market capitalization, Al Rajhi Bank (1120.SE), rose 0.8%. Qatar Islamic Bank (QISB.QA) continued its gains with a 2.3% rise and Qatar International Islamic Bank (QIIB.QA) rose 1.7%. Egypt has signed a $1.5 billion financing agreement with the International Islamic Trade Finance Corporation to fund its trading, including imports of energy products and essential commodities.

☆ Major Gulf stocks rise on higher oil prices, China demand prospects
▼ + stars: | 2023-01-22 | by ( Md Manzer Hussain | ) www.reuters.com time to read: +1 min

Jan 22 (Reuters) - Most major Gulf markets ended higher on Sunday, reflecting Friday's rise in oil prices driven by prospects that an upbeat economic growth outlook from China could signal increased fuel demand in the world's second-largest economy. Oil, which fuels the region's economies, settled up about $1 a barrel on Friday, with Brent crude at $87.63 a barrel, up $1.47 or 1.7%. Saudi Arabia's benchmark index (.TASI) rose 0.4%, supported by a 1.5% gain in luxury real estate developer Retal Urban Development (4322.SE) and a 0.8% rise in oil giant Aramco (2222.SE). Al Rajhi Bank (1120.SE), the world's largest Islamic bank by market capitalization, rose 0.5%. The Gulf's biggest lender Qatar National Bank (QNBK.QA) continued its rally with a 2.3% gain and Qatar Islamic Bank (QISB.QA) rose 1.3%.

☆ Treasury Secretary Yellen and China's Liu He talk U.S. tech policy at their first in-person meeting
▼ + stars: | 2023-01-19 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

U.S. Treasury Secretary Janet Yellen and Chinese Vice Premier Liu He held their first in-person meeting in Zurich on Jan. 18, 2023. BEIJING — Chinese Vice Premier Liu He discussed U.S. economic and tech policy toward China in a meeting with U.S. Treasury Secretary Janet Yellen on Wednesday, according to a Ministry of Commerce readout. China "hopes the U.S. side pays attention to the policies' impact on both sides," the readout said, according to a CNBC translation. The meeting in Zurich was the first time Yellen and Liu met in person, after three years of Covid-related restrictions on travel. While Beijing retaliated with tariffs of its own, its most substantive response to U.S. tech bans has been filing a dispute with the World Trade Organization in December.

Brent <LCOc1> futures fell 94 cents, or 1.1%, to settle at $84.98 a barrel. U.S. West Texas Intermediate (WTI) crude fell 70 cents, or 0.9%, to settle at 79.48. Markets at first reacted positively to U.S. data, which showed retail sales and manufacturing production declined more than forecast in December, on hopes the Fed would now ease up on interest rate hikes. Supporting oil prices early in the session, China reported economic data that beat forecasts after the country started rolling back its zero-COVID policy in early December. Rystad said the losses were at about 500,000 barrels per day and that India and China remain key buyers of Russian crude.

☆ Yellen, China's Liu agree to enhance communication after 'frank exchange' - U.S. Treasury
▼ + stars: | 2023-01-18 | by ( Andrea Shalal | ) www.reuters.com time to read: +4 min

[1/4] U.S. Treasury Secretary Janet Yellen shakes hands with Chinese Vice Premier Liu He as they meet for talks in Zurich, Switzerland, January, 18, 2023. REUTERS/Denis BalibouseZURICH, Jan 18 (Reuters) - U.S. Treasury Secretary Janet Yellen agreed with Chinese Vice Premier Liu He to enhance communication about macroeconomic and financial issues during a "candid, substantive, and constructive" meeting in Zurich on Wednesday, the Treasury said. "Both sides agreed it is important for the functioning of the global economy to further enhance communication around macroeconomic and financial issues," the Treasury said after Yellen and Liu met. "Secretary Yellen also raised issues of concern in a frank exchange of views," it added. The IMF has warned against decoupling the global economy into two competing blocs, saying it could reduce global economic output by up to 7%, and even more in vulnerable countries.

☆ U.S. Treasury's Yellen, China's Liu pledge 'frank' talks, aim to manage differences
▼ + stars: | 2023-01-18 | by ( Andrea Shalal | ) www.reuters.com time to read: +4 min

[1/4] U.S. Treasury Secretary Janet Yellen shakes hands with Chinese Vice Premier Liu He as they meet for talks in Zurich, Switzerland, January, 18, 2023. Yellen told Liu she planned to address issues of concern in their first in-person meeting, but said both countries needed to manage "our differences and prevent competition from becoming anything ever near conflict." The IMF has warned against decoupling the global economy into two competing blocs, saying it could reduce global economic output by up to 7% - and even more in vulnerable countries. Yellen has met virtually three times with Liu since taking office, and met in Bali, Indonesia, with Chinese central bank governor Yi Gang. Liu will step down this year as part of an overhaul of China's economic leadership disclosed in September.

☆ U.S. Treasury's Yellen, China's Liu to meet in Zurich for first in-person talks
▼ + stars: | 2023-01-18 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

[1/2] U.S. Treasury Secretary Janet Yellen speaks during her interview with Reuters in New Delhi, India, November 11, 2022. A Chinese official said Liu and Yellen would also touch on the possibility of a world recession. The IMF has warned against decoupling the global economy into two competing blocs, saying it could reduce global economic output by up to 7% - and even more in vulnerable countries. Yellen has met virtually three times with Liu since taking office, and met in Bali, Indonesia, with Chinese central bank governor Yi Gang. Liu will step down this year as part of an overhaul of China's economic leadership disclosed in September.

☆ Yellen, China's Liu agree to enhance communication after 'frank exchange'
▼ + stars: | 2023-01-18 | by ( ) www.cnbc.com time to read: +2 min

US Treasury Secretary Janet Yellen (3rdR) and Chinese vice-premier Liu He (3rdL) and their respective delegations wait ahead of their meeting in Zurich, on January 18, 2023. U.S. Treasury Secretary Janet Yellen agreed with Chinese Vice Premier Liu He to enhance communication about macroeconomic and financial issues during a "candid, substantive, and constructive" meeting in Zurich on Wednesday, the Treasury said. Liu said both countries need "serious communication" and coordination on issues including climate change and the economy, and that he was ready for an in-depth exchange. "Both sides agreed it is important for the functioning of the global economy to further enhance communication around macroeconomic and financial issues," the Treasury said after Yellen and Liu met. "Secretary Yellen also raised issues of concern in a frank exchange of views," it added.

☆ UBS CEO: 2023 year of inflection, U.S. and Europe inflation will reduce
▼ + stars: | 2023-01-17 | 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 EmailUBS CEO: 2023 year of inflection, U.S. and Europe inflation will reduceRalph Hamers, CEO at UBS, discusses his outlook for inflation, and the impact of China's lifting of Covid-19 restrictions on the world economy.

☆ As Russia's only aircraft carrier falls apart, some Russians want to undo a shady ship deal with China 25 years ago
▼ + stars: | 2023-01-16 | by ( Michael Peck | ) www.businessinsider.com time to read: +6 min

Russia's sole aircraft carrier has been sidelined for years and may not see action again. A Russian lawmaker has proposed trying buying China's Liaoning aircraft carrier as a replacement. Liaoning began life as a Soviet carrier, but China acquired it in a shady sale in the late 1990s. Chinese aircraft carrier Liaoning during a drill in the western Pacific in April 2018. A 40-year-old aircraft carrier in the Black Sea won't provide much value.

☆ OECD secretary-general: A lot of scope for increased international collaboration
▼ + stars: | 2023-01-16 | 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 EmailOECD secretary-general: A lot of scope for increased international collaborationMathias Cormann, secretary-general at the OECD, discusses inflation, the organization's outlook for global growth in 2023, and the impact of China's lifting of Covid-19 restrictions on the world economy.

☆ In 2023, China's appetite for LNG set to rise amid tepid demand across Asia
▼ + stars: | 2023-01-05 | by ( Emily Chow | ) www.reuters.com time to read: +4 min

Summary China's 2023 LNG demand seen rising 9-14% - analystsNuclear power to dampen Japan, South Korea LNG demandLimited LNG supplies to come online globally next yearSINGAPORE, Jan 5 (Reuters) - China's liquefied natural gas (LNG) demand is forecast to recover in 2023 as the country emerges from COVID-19 controls to become the bright spot in Asia's consumption for the super-chilled fuel. This led Europe to import record amounts of LNG, pushing Asian spot LNG prices to historical highs. Asia LNG and Europe gas price chartNUCLEAR SWITCHChina's 2023 demand rebound would be offset by lower consumption from Japan, South Korea and South Asian nations, analysts said. As a result, Asia's share of global LNG demand would remain just above 60% for a second straight year. In response to high LNG prices, Japan and South Korea aim to increase nuclear power's contribution to their energy supply, leading analysts to cut estimates of 2023 LNG demand from those countries.

☆ Japan says it scrambled jets to monitor Chinese aircraft carrier operations
▼ + stars: | 2023-01-02 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Jan 2 (Reuters) - Japan said on Monday it scrambled jet fighters and dispatched aircraft and warships over the past two weeks to keep tabs on China's Liaoning aircraft carrier and five warships that conducted naval manoeuvres and flight operations in the Pacific. Japan monitored the operations after the Chinese naval group, which included missile destroyers, sailed between the main Okinawa island and Miyakojima island into the Western Pacific from the East China Sea on Dec. 16, Japan's Ministry of Defence said in a press release. Before returning the same way on Sunday, the Chinese carrier conducted more than 300 take-offs and landings of fixed-wing aircraft and helicopters, added the ministry, which did not report any incursions into Japanese territorial waters or skies. Japan also reported that it had detected flights by a Chinese WZ-7 drone close to Miyakojima on Sunday and again on Monday, the first time it has spotted the high-altitude drone in the area. Reporting by Tim Kelly; Editing by Robert BirselOur Standards: The Thomson Reuters Trust Principles.

London Metal Exchange (LME) warehouse stocks of the galvanising metal total 36,525 tonnes, the lowest amount this century. LME zinc price, spread and stocks; Shanghai Futures Exchange stocksSMELTER DISRUPTIONGlobal refined zinc output fell by 3.2% in January-October, according to the ILZSG, matching the drop-off in usage. Shanghai Metal Market (SMM) estimates total "social" inventories of zinc ingot across seven domestic markets at a low 56,000 tonnes. The longer-term question-mark over Europe's power-hungry smelters hasn't gone away, injecting a whole new twist in the zinc market narrative. In the short term the zinc market is going to remain beholden to the European power market.

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