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☆ The CEO of Ford says he's been driving a Xiaomi EV for the past 6 months and doesn't want to give it up
▼ + stars: | 2024-10-23 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

Ford CEO Jim Farley says he's been driving the Chinese tech giant Xiaomi's EV for the past six months. AdvertisementFord CEO Jim Farley says he doesn't want to give up the Xiaomi Speed Ultra 7 he's been driving for the past half year. "I don't like talking about the competition so much, but I drive the Xiaomi," Farley said while speaking to the British presenter Robert Llewellyn on "The Fully Charged Podcast." The Chinese tech giant produces three versions of the car: SU7, SU7 Pro, and SU7 Max. Competing with rivals such as Xiaomi will be critical for Ford as it formulates its approach to the EV market.

Persons: Jim Farley, he's, Farley, Xiaomi, —, Robert Llewellyn, Llewellyn, I've, SU7 Max, Farley didn't, They're, BI's Matthew Loh, Loh, John Lawler, Jim, Lawler, Ford Organizations: Service, Ford, Business Insider, EV, China, Street, Changan Automobile, Research, Business Locations: British, Shanghai, Chicago, China, Brazil, Thailand

Consistent with U.S. policy, Harris has also declined to say whether she would use military force to defend Taiwan. Instead she emphasizes the importance of military communications with China and supporting Taiwan’s ability to defend itself. Tariff talkThough Trump talks far more about China on the campaign trail than Harris does, neither of them have said much about how they would manage ties with Beijing. Biden has maintained and in some cases expanded tariffs on Chinese imports that Trump introduced as president, citing national security concerns. If she wins, Harris is expected to continue Biden’s targeted tariffs and restrictions on key Chinese tech sectors.

Persons: Trump, Xi, Harris, Biden, Wu Xinbo, ” Organizations: Washington, Wall Street, United States ’, Beijing, Trump, Peterson Institute for International Economics, Center for American Studies, Fudan University, “, Asia Society Policy Institute Locations: Taiwan, China, Ukraine, Washington, Asia, Shanghai, U.S

☆ Looking for dividend stocks? Here are Morgan Stanley’s top Asia picks for the fourth quarter
▼ + stars: | 2024-10-21 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

As investors attempt to navigate volatile global markets, Morgan Stanley is reiterating its recommendation to buy dividend stocks. Morgan Stanley named the world's largest contract electronics manufacturer as its top pick. Shares of Hon Hai are traded on the Taiwan Stock Exchange and are included in ETFs such as the iShares MSCI Taiwan ETF (6.2% weight). Morgan Stanley has a 12-month target price of 270 New Taiwan dollars ($8.42) on the stock, giving it around 30% potential upside. Morgan Stanley has a target price of 8.76 Hong Kong dollars ($1.13) on the stock, implying around 43% upside.

Persons: Morgan Stanley, Morgan, Mogan Stanley, Hai, Brent, CNBC's Michael Bloom Organizations: Asia, Apple, Hai Precision, Taiwan Stock Exchange, New, Hong Kong, Brent, Shanghai Stock Exchanges Locations: Japan, Asia, Pacific, China , Hong Kong, Taiwan, New Taiwan, Hong Kong, U.S

☆ Analysts pick winners from China stimulus measures
▼ + stars: | 2024-10-20 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Now that China's key ministers have spoken on stimulus, analysts have narrowed down the stocks likely to benefit. Chinese stocks have tempered their recent rally as investors await more policy details. Beyond interest rate cuts, the most tangible Chinese stimulus policies include subsidies to boost consumption with a trade-in program, along with incremental property market support. They screened for mainland-traded Chinese stocks with relatively high dividend yields and strong cash flow. While Chinese property developers may not bounce back right away, HSBC analysts expect construction software company Glodon, listed in Shenzhen, can benefit from property market stabilization.

Persons: David Chao, Morgan Stanley, Morgan, Ni Hong, Edward Chan Organizations: Asia Pacific, Aluminum Corp, Cement, HSBC, National Bureau of Statistics Locations: Japan, Invesco, Hong Kong, Anhui, Beijing, Shenzhen, Shanghai

☆ CNBC Daily Open: China posts better-than-expected economic data
▼ + stars: | 2024-10-18 | 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. Better-than-expected growth for ChinaChina's third-quarter gross domestic product expanded by 4.6% year on year, according to the National Bureau of Statistics. Chinese and U.S. retail sales going strongChina's retail sales for September grew 3.2% from a year ago, said the National Bureau of Statistics. Across the Pacific Ocean, retail sales in the U.S. rose a seasonally adjusted 0.4% for September.

Persons: Dow Jones, Pat Gelsinger, Altera Organizations: CNBC, China, National Bureau of Statistics, Dow, Dow Jones, Nasdaq, Intel, U.S . Federal Reserve Locations: U.S, Asia, Pacific, Shanghai

☆ Jim Cramer says Apple stock can 'blow through' records on real iPhone data out of China
▼ + stars: | 2024-10-18 | by ( Morgan Chittum | ) www.cnbc.com time to read: +2 min

Apple stock was on track to close at a record high Friday after positive new data about iPhone demand in China. Apple stock was more than 3% this week. As a result, he predicted Apple stock will "blow through a lot of levels here." As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

Persons: Pro Max, Jim, Jim Cramer's, Jim Cramer Organizations: Research, Pro, Huawei, Apple, IDC, Apple Intelligence, iPhone, CNBC, Getty Locations: China, Shanghai, Nanjing

☆ China-led regional group calls for countering protectionist policies, sanctions
▼ + stars: | 2024-10-17 | by ( ) www.cnbc.com time to read: +1 min

The Chinese national flag flies outside the Ministry of Foreign Affairs in Beijing on July 26, 2023. A China-led 10-state regional group criticized what it called protectionist trade measures on Wednesday, part of an intensifying standoff between Beijing and Western countries over tariffs on Chinese products. The Shanghai Cooperation Organization, a Eurasian security and political group, also hit out at "unilateral sanctions" as member states Iran and Russia face curbs on trade. The statement said that the 10 member states, represented by seven prime ministers, "consider it important to continue joint efforts to counter protectionist trade measures that are contrary to WTO rules." Beijing has termed the moves discriminatory, and responded with similar actions as the standoff intensifies.

Organizations: Ministry of Foreign Affairs, Shanghai Cooperation Organization, European Union Locations: Beijing, China, Western, Iran, Russia, Islamabad, India, Pakistan, United States, Canada

Products displayed at the Schneider Electric SE booth at the International Photovoltaic Power Generation and Smart Energy Expo in Shanghai, China, on Thursday, June 13, 2024. The chief executive of French power-equipment maker Schneider Electric said on Thursday that the firm's $850 million deal to take a controlling stake in U.S.-based liquid cooling company Motivair will help to bolster its offering to fast-growing and energy-intensive data centers. "We've always said we are going to be agile in respect to acquisitions and targets out there that fit exactly into the strategy of Schneider Electric," Schneider Electric CEO Peter Herweck told CNBC's "Squawk Box Europe" on Thursday. Herweck said the all-cash deal to acquire an initial 75% controlling interest in the equity of Motivair, which was announced on Thursday, was "rich, but not overly expensive" and "fits great" with the firm's strategy. The acquisition takes place as a global rush for the next wave of generative AI coincides with increasing public scrutiny on environmental concerns, with technology giants recently pivoting to nuclear in an attempt to power its AI ambitions.

Persons: We've, Peter Herweck, CNBC's, Herweck, — Sam Meredith Organizations: Schneider, International, Power, Smart Energy Locations: Shanghai, China, U.S

☆ 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

☆ China pumps half a trillion dollars into beleaguered property sector. But that’s not enough
▼ + stars: | 2024-10-17 | by ( Juliana Liu | ) edition.cnn.com time to read: +3 min

Since then, economists have been expecting an additional stimulus package worth up to 10 trillion yuan ($1.4 trillion) to restore bullishness in the world’s second-largest economy. Chinese Housing Minister Ni Hong attends a press conference on the property sector in Beijing, China, on October 17, 2024. Widespread concernThe ailing property sector is widely believed to lie at the root of China’s numerous economic woes. It also cut the reserve requirement ratio for banks by half a percentage point, which would free up about 1 trillion yuan ($142 billion) for new lending. The resulting crisis has resulted in a precipitous fall in real estate prices and loss of confidence among consumers.

Persons: Xi Jinping, Housing Ministry didn’t, Larry Hu, “, ”, Ni, Minister Ni Hong, Florence Lo, Xiao Yuanqi, Pan Gongsheng Organizations: Hong Kong CNN, Housing Ministry, Macquarie, CNN, ” Investors, Ministry of Housing, Ni Hong, Minister, Administration Locations: China, Hong Kong, Shanghai, Beijing

☆ The solid-state batteries hype is fading – prompting auto giants to consider alternatives
▼ + stars: | 2024-10-16 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +6 min

Solid-state batteries have long been billed as the "holy grail" of sustainable driving. As the name suggests, solid-state batteries contain a solid electrolyte, made from materials such as ceramics. Automakers have invested billions of dollars in solid-state battery research and teamed up with developers to produce their own versions for mass production. Tomohiro Ohsumi | Getty Images News | Getty ImagesJapan's Toyota, for instance, has said it is aiming to bring solid-state batteries into mass production between 2027 and 2028. Yet, despite growing hype over the potential rollout of solid-state batteries, analysts remain skeptical about when they will actually make it to market.

Persons: Tomohiro Ohsumi, Japan's Nissan, Germany's Mercedes, Max Reid, Wood Mackenzie, Reid, Wood Mackenzie's Reid, Julia Poliscanova, Poliscanova, Nio, Ganfeng, Environment's Poliscanova Organizations: Afp, Getty, Toyota Motor Corp, Benz Group, Stellantis, Hyundai, Kia, Environmental Defense Fund, CNBC, Transport, Environment, Paris, Show, Qingtao Energy Locations: Nanjing, China's, Jiangsu, PARIS, France, Tokyo, Japan, U.S, China

☆ China's luxury market has been in a slump, and we're about to find out how bad it really is
▼ + stars: | 2024-10-15 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: +4 min

China's luxury market could face its worst quarter in four years, amid aggressive stimulus measures. AdvertisementLuxury brand investors are bracing to see if China's aggressive stimulus measures could be enough to pull its faltering luxury market out of the woods. While Beijing's recent moves to inject liquidity and lower interest rates have sparked some hope in pulling Chinese shoppers out of their spending slump, experts are skeptical of an immediate revival of China's luxury market. Related storiesWhile China's poor economic growth had deterred luxury spending for some, others continued their luxury shopping sprees — outside China. AdvertisementAlthough the outlook for China's luxury market remains bleak in the short run, Jefferies analysts are expecting a recovery as soon as 2025, Reuters reported.

Persons: bellwether, —, Markus Hansen, LVMH, Patrice Nordey, Trajectry, Nordey, Marc Jacobs, Hermès Organizations: Service, Burberry, Reuters, CNBC, Jefferies Locations: China, Asia, Japan, Paris, Shanghai, LVMH

☆ CNBC Daily Open: With an unchanged PPI, the Fed’s near the finish line
▼ + stars: | 2024-10-14 | 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. Winning week for marketsAll major U.S. indexes rose Friday on the back of encouraging inflation data and positive earnings from big banks. That gave them a winning week. Banks' earnings in good shapeJPMorgan Chase , the biggest bank in the U.S., reported third-quarter earnings and revenue that beat estimates.

Persons: Tesla's, Tesla, Elon Musk, Musk, of Finance Lan Fo'an, Lan, Banks, JPMorgan Chase, Wells Fargo, Goldman Sachs, Morgan Stanley Organizations: New York Stock Exchange, CNBC, of Finance, JPMorgan, It's Bank of America Locations: New York, Asia, Pacific, Shanghai, Beijing, China, U.S

☆ China property stocks jump after Beijing proposes measures to lift troubled sector
▼ + stars: | 2024-10-14 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +2 min

China property stocks jumped Monday after Beijing layed out more support measures over the weekend to shore up the troubled sector. While the Hang Seng Index was last down 0.4% in volatile trading Monday, the Hang Seng Mainland Properties Index rose over 2%. Shares of other real estate developers also saw significant gains, including China Overseas Land & Investment and Yuexiu Property gaining nearly 7% and 6%, respectively. Real estate was also the leading gainer in Mainland China's CSI 300, advancing nearly 5%, while the broader index was up 2%. The rally came after China's Ministry of Finance outlined new policy measures focused on stabilizing the beleaguered real estate sector.

Persons: Tommy Xie, Leonard Law Organizations: China Jinmao Holdings Group Ltd, Beijing, Mainland, China Resources, China Overseas Land & Investment, Yuexiu, China's CSI, China's Ministry, Finance, OCBC Bank, Lucror Analytics, CNBC Locations: Jinmao, Shanghai, China, China's, Asia

☆ 4 stocks set to benefit from China's stimulus measures while also hedging geopolitical risk: $21 billion firm's portfolio manager
▼ + stars: | 2024-10-14 | by ( Christine Ji | ) www.businessinsider.com time to read: +5 min

The Chinese stock market soared after news of a stimulus package but plunged again on Wednesday. Risk remains high in Chinese stocks, which is why investors should exercise caution. The recent volatility in the Chinese market doesn't come as a surprise to Zehrid Osmani, portfolio manager at $21 billion Martin Currie. Valuations are low coming out of the pandemic, creating an attractive entry point into the market, Osmani said. He points to some structural challenges the Chinese economy faces, such as an aging population and a slump in the property sector.

Persons: —, Zehrid, Martin Currie, Osmani Organizations: Service, Investor, Bank of America, Companies, Martin Currie Global Portfolio Trust Locations: China, Shanghai, Beijing, Taiwan, Omani

☆ China's exports and imports grew far less than expected in September
▼ + stars: | 2024-10-14 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — China's exports grew by 2.4% in September from a year ago in U.S. dollar terms, while imports rose by 0.3%, customs data showed Monday. China's exports were forecast to have risen by 6% year-on-year in September in U.S. dollar terms, according to a Reuters poll. Imports were expected to have climbed by 0.9% in September from a year ago, according to the Reuters poll. Exports had been a bright spot in China's economy, which has been weighed down by lackluster consumer spending and a real estate slump. China's exports to the U.S., its largest trading partner, rose by 2.2% in September from a year ago, while imports from the U.S. climbed by 6.7%, according to CNBC's analysis of official data.

Organizations: Imports, Reuters, Exports, U.S Locations: Port, Shanghai, China, BEIJING, U.S

☆ Jannik Sinner makes Novak Djokovic wait for 100th career title with victory in Shanghai Masters final
▼ + stars: | 2024-10-13 | by ( Matias Grez | ) edition.cnn.com time to read: +2 min

CNN —Jannik Sinner clinched his seventh title of the season with a straight sets victory over Novak Djokovic in the final of the Shanghai Masters on Sunday. 1 spot with his semifinal win over Tomas Machac, defeated Djokovic 7-6 (4) 6-3 to pick up the fourth Masters 1000 title of his career and third of 2024. “It was a very tough match, obviously, playing against Novak is one of the toughest challenges we have,” Sinner said after the match, per the ATP. Sunday’s defeat was the first of Djokovic’s career in the final of the Shanghai Masters, having previously held a perfect 4-0 record. Sinner is the first player to beat Djokovic three times in a row since 2013.

Persons: CNN —, Novak Djokovic, Tomas Machac, Djokovic, Jimmy Connors, Roger Federer, Andy Murray, Novak, Sinner, ”, Rafael Nadal, Andy Wong, he’d, “ Organizations: CNN, Shanghai Masters, Djokovic, AP, Swiss, Paris Masters, ATP Locations: Turin, Italy

But the measures that Beijing’s economic planning agency announced this week proved to be an anticlimax — the trillions of yuan that observers were hoping would be revealed never materialized. Beijing might even miss its annual growth target of 5% — a figure it often surpassed prior to the pandemic. But while Chinese officials project confidence, the markets and the country’s public seem less convinced. Its broader financial lethargy and this week’s market turmoil will hardly be welcomed by Beijing. Costphoto / NurPhoto via Getty ImagesDomestic stimulus aside, there have been outward signs that China’s economy is in trouble.

Persons: Xi Jinping, Long Wei, ”, Keyu Jin, Trump, Joe Biden, isn’t, Fu, Miao Yuqing, Miao, Alicia Garcia, Herrero, what’s, Zheng Shanjie, Yue Su, ” Su Organizations: Beijing, Traders, Investors, CSI, Getty Images, London School of Economics, The, Communist Party, U.S, AFP, Getty, “, Asia Pacific, ”, National, Reform, Economist Intelligence Unit Locations: BEIJING, Shanghai, Hong Kong, China, Beijing, Hangzhou, Long, Lianyungang, Natixis, Guizhou province, Washington

☆ China’s censorship is among the toughest in the world. So why did it let Kanye West play?
▼ + stars: | 2024-10-12 | by ( Chris Lau | ) edition.cnn.com time to read: +9 min

Hong Kong CNN —It seemed like an unlikely stage for Kanye West to unveil his new music. Music fans cheer during Kanye West's Vultures Listening Experience at Wuyuan River Stadium on September 15, 2024. One of the fastest-growing in the world, China’s music market became the fifth-largest market globally in 2022, according to IFPI, a trade body for the recorded music industry. China’s recorded music revenues grew 28.4% in 2022 from the year prior, compared with the global market rise of 9%, IFPI said. Bieber “engaged in a series of bad behaviors, both in his social life and during a previous performance in China,” China’s Ministry of Culture announced in 2015, without going into details.

Persons: –, Ye –, Ye, ”, Luo Yunfei, Xi Jinping, China “, Chen Dan, Mariah Carey, John Legend, Charlie Puth, Chen, Kanye, ” Chen, “, Ye’s, China’s, Hung Ho, fung, Bon, Jovi’s, Lama, Justin Bieber, Jay, Lady Gaga, Bieber “, Culture “, Ho, Johns Hopkins, it’s Organizations: Hong Kong CNN, Kanye, Communist Party, German, Adidas, Sports, Chinese Communist Party, China News Service, University of, Travelers, Xinhua, Kanye West, Visual China, Johns Hopkins University ., Oasis, China’s Ministry of Culture, Ministry, Culture, China, Nanjing University, China Daily, University of Richmond Locations: Hong Kong, China, Hainan, Hainan’s, Haikou, Beijing, Shanghai, “, Tokyo, British, Asia, Nanjing, Johns

☆ China to increase debt issuance in bid to revive economy
▼ + stars: | 2024-10-12 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +2 min

China plans to increase debt issuance to boost its economy. It announced plans for a new fiscal stimulus package on Saturday. AdvertisementChina has announced plans to ramp up government debt issuance in a bid to boost its economy. "We will increase support for local governments in resolving government debt risks, increase debt limits on a larger scale, and support local governments in resolving hidden debts," he said. Chinese equities rallied in September on the back of a series of easing measures announced by Beijing aimed at stimulating growth.

Persons: —, Lan Fo'an, Fo'an, Huang Yan Organizations: Service, China, Asia Investment, CSI, Shanghai QiuYang, Reuters Locations: China, Beijing, Asia

☆ Rafael Nadal: ‘Everything he does in life, he does with intensity and passion,’ says Feliciano López
▼ + stars: | 2024-10-11 | by ( Amanda Davies | Samuel Joseph | ) edition.cnn.com time to read: +4 min

CNN —The tennis world is still reeling after Rafael Nadal announced that his illustrious career would be coming to an end next month. The 22-time grand slam champion said on social media on Thursday that his final tournament will be with Spain at the Davis Cup finals in November. Playing on home soil in Málaga, the 38-year-old Nadal will be part of a Spain team competing for a seventh Davis Cup title. Everything he does in his life, he does with a lot of intensity and passion. So to have Rafa as a teammate is a huge privilege.”The 43-year-old recounted a story from Nadal’s Davis Cup debut in 2004.

Persons: Rafael Nadal, Feliciano López, Nadal, Rafa, ” López, CNN’s Amanda Davies, “, Alex Pantling, Marc López, ”, ” Nadal, López, Nadal’s, ‘ Feli, ’ ” López, Jasper Juinen, Novak Djokovic, Carlos Alcaraz, ” Alcaraz Organizations: CNN, Davis, Spain, Great, ATP, Nadal, Nadal’s Davis, Paris, Team Europe, Shanghai Masters Locations: Spain, Málaga, Great Britain, Beijing, Rio de Janeiro

☆ China’s ‘whatever it takes’ moment? Investors hope for hundreds of billions in new stimulus
▼ + stars: | 2024-10-11 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +4 min

China's Ministry of Finance, pictured here in Beijing in 2021, is refunding taxes and cutting fees to support economic growth. China's Finance Minister Lan Fo'an is set to hold a press conference at 10 a.m. on Saturday local time on "intensifying" fiscal stimulus policies, the country's State Council Information Office said. Authorities are likely to affirm that at the press conference on Saturday, Zhao said. At the time, Chinese major indexes began to rally, surging over 25% as investors cheered on the slate of stimulus measures. Lan Fo'an, China's Minister of Finance, attends a press conference during the second session of the 14th National People's Congress (NPC) in Beijing on March 6, 2024.

Persons: Cong, Lan Fo'an, NDRC, Zheng Shanjie, Chen Zhao, CNBC's, Zhao, Chetan Ahya, Morgan Stanley, Wang Zhao Organizations: of Finance, Bloomberg, Getty, China's Finance, Beijing, Investors, National Development, Reform, Authorities, China's Ministry, Finance, China's, National People's Congress, Afp Locations: Beijing, country's, Shanghai, Asia

☆ Xiaohongshu: How ‘China’s Instagram’ is transforming the travel industry
▼ + stars: | 2024-10-10 | by ( Chris Lau | ) edition.cnn.com time to read: +8 min

Hong Kong CNN —Tucked away in a residential neighborhood in the west of Hong Kong, the Kennedy Town Playground’s basketball courts aren’t particularly noteworthy. It’s because the courts, perched on the side of a hilly slope, offer great views of the Hong Kong skyline. Many of them are followers of Xiaohongshu (Little Red Book), China’s answer to Instagram, which has also become their travel bible. The 26-year-old relied solely on Xiaohongshu to navigate Hong Kong with his wife during their recent trip to the city. A woman takes pictures at an iconic Xiaohongshu spot in Hong Kong.

Persons: Hong Kong CNN —, sipping lattes, Xiaohongshu, Hong Kong's, Noemi Cassanelli, CNN Kennedy, Jiao Le, Cassanelli, ” Jiao Le, Jay Chou, ”, Tokyo's, Zhizhao Wu, Giovanni Mereghetti, Mao Zedong, Charlwin Mao, Miranda Qu, it’s, Qian Gua, “, Xia Jiale, Joel Placeres, “ Will, Placeres, Jiao, Hung Organizations: Hong Kong CNN, Kennedy Town, Hong Kong's Kennedy, CNN, CNN Reading, Getty, Kennedy, CNN Travel, Lobos, “ Lobos, Hong Locations: Hong Kong, China, Seoul, Beijing, Asia, Copenhagen, Tivoli, Norrebro, Central, New York, Japan, Kamakura, Tokyo, Denmark, Xiaohongshu, Kennedy Town, Communist China, Shanghai, Luoyang, Europe, London, Paris, Hong, Noemi

☆ Asia-Pacific markets gain ahead of U.S. inflation data; China stocks resume rally
▼ + stars: | 2024-10-10 | by ( Dylan Butts | ) www.cnbc.com time to read: +2 min

A general view of the Shanghai Securities Exchange building is being shown in Shanghai, China, on July 16, 2024. Japan's Nikkei 225 gained 0.26% to end at 39,380.89, while the broad-based Topix rose 0.2% to close at 2,71267. Traders in Asia were assessing September data on producer prices in Japan which rose 2.8% from a year ago. Economists polled by Reuters had predicted the inflation rate would come in at 2.3%, down from 2.5% in August. The rally had been triggered by a blitz of government stimulus measures at the end of September.

Persons: Australia's, Korea's Kospi, Hong, Chetan Ahya, Morgan Stanley, Ahya Organizations: Shanghai Securities Exchange, Dow Jones, Nikkei, Traders, Reuters, Investors, Holdings, Alimentation, CSI, China's Finance, Asia Locations: Shanghai, China, SINGAPORE — Asia, Pacific, 2,71267, Asia, Japan, Beijing

☆ China economy: Stock markets’ holiday optimism doesn’t spread to Chinese shoppers
▼ + stars: | 2024-10-10 | by ( Juliana Liu | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Global investors went wild during China’s just-concluded Golden Week holiday by snapping up “everything” related to the country. But that optimism didn’t extend to shoppers and travelers in the world’s second-largest economy itself. “Low tourism spending per head and subdued services prices highlighted still weak domestic demand and continued consumption downgrading,” they said. Goldman Sachs added that anecdotal evidence indicates hotel prices and airfares during the holiday were lower than year-ago levels. According to official data, cross-border travel rose by about 26% to 13 million trips, compared with last year’s holiday period.

Persons: Goldman Sachs, ”, Xi Jinping, David Tepper Organizations: Hong Kong CNN — Global, Citi, Management, CNBC, Hong, National Development, Reform Commission, Ministry of Finance Locations: China, Hong Kong, Shanghai, Shenzhen

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