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☆ Goldman Sachs says these China stocks can win even if there's a repeat of Japan's lost decades
▼ + stars: | 2024-01-14 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Goldman Sachs calls the China story today one of "rebalancing," and has picked 40 buy-rated stocks to play the theme. They predict certain consumer names, artificial intelligence companies and rising global players will be among the Chinese stocks that can do well. December data and fourth-quarter GDP due out late Tuesday New York time may give more clues on China's economic trajectory — and whether policymakers need to act. For China's economic outlook, comparisons to Japan may ultimately be more academic as the debate has become more about the extent to which national security has replaced economic growth as the priority. "Very often I'm asked the question, will China ignore development as it talks more about security?"

Persons: Goldman Sachs, Japan's, Kinger Lau, Morgan, Robin Xing, Goldman, Lau, Li Qiang, Liu, SICC, Arthur Kroeber, Dragonomics, Liu Jianchao, Michael Bloom Organizations: Beijing, China Equity, China New Economy Summit, China, New, Invesco, Central Commission, Financial, Economic Affairs, Laboratories, U.S . Food, Drug Administration, U.S, StarPower Semiconductor, Wire China, Communist Party's, Foreign Locations: China, Japan, Hong Kong, Beijing, New York, Davos, Shanghai, U.S, Shenzhen, Europe

☆ China's annual exports drop for the first time in seven years
▼ + stars: | 2024-01-12 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Aly Song | ReutersBEIJING — China's annual exports fell for the first time in seven years in 2023, even as shipments in December beat expectations, customs data showed Friday. But for 2023, exports fell 4.6%, the first such annual drop since a 7.7% decline in 2016, according to Wind Information. By country, the U.S. remained China's largest trading partner. Russia was a rare bright spot, with China's exports to the country climbing nearly 47% in 2023, and imports rising almost 13%. China's exports in most product categories fell in 2023, with machinery, boats and home appliances among the few exceptions.

Persons: Aly Song, Caixin, Larry Hu, Zhiwei Zhang Organizations: Reuters, Information, of Southeast, Nations, European Union, U.S ., China, National Bureau, Statistics Locations: Yangshan, Shanghai, China, Reuters BEIJING, U.S, Russia

☆ China's policy support is a 'stop-gap' measure — not stimulus, SocGen economist says
▼ + stars: | 2023-12-05 | by ( Clement Tan | ) www.cnbc.com time to read: +4 min

Close up of Chinese Yuan notes, with Mao Tse-tung Peter Dazeley | The Image Bank | Getty ImagesChina's recent policy support is aimed at fixing its system and shouldn't be seen as economic stimulus, according to Societe Generale's Asia chief economist and head of research. PMI divergenceExpansion in China's services sector climbed to its strongest since August, a private survey on Tuesday showed. However, the private survey diverged from China's official PMI. The moderating manufacturing PMI and contracting services PMI, along with other November data point to the fragility of the Chinese economy and a faster deceleration of growth momentum last month, they added. The official PMI includes more companies engaged in heavy industries compared with the Caixin PMI, which covers more consumer-focused firms, Barclays economists said.

Persons: Yuan, Mao Tse, Peter Dazeley, Wei Yao, Yao, Jian Chang Organizations: Bank, Getty, Societe Generale's, CNBC, Economic Work Conference, China Communist, PMI, National Bureau of Statistics, NBS, Barclays Locations: Societe Generale's Asia, China

BEIJING, Dec 1 (Reuters) - Mixed factory activity data for China in November suggests more stimulus will be needed to shore up economic growth, analysts said on Friday, as two surveys came to contrasting conclusions on the sector's health. That was the fastest expansion in three months, but stands in contrast to the official PMI which fell to 49.4 on Thursday. "At face value, the average of the two is consistent with factory activity remaining largely unchanged last month," said Sheana Yue, China economist at Capital Economics. The official and Caixin surveys have different samples, with the Caixin PMI focusing on export-oriented enterprises and small- and medium-sized enterprises in the country's coastal region. Payroll cuts in the sector persisted for the third month in the Caixin survey and a ninth month in the official PMI.

Persons: Sheana Yue, Dan Wang, Xi Jinping, Liangping Gao, Joe Cash, Jacqueline Wong, Lincoln Organizations: P Global, PMI, Capital Economics, HSBC, Hang Seng Bank, Thomson Locations: BEIJING, China, Hang Seng Bank China, Shanghai

☆ China economy: PBOC governor says focus will be on ‘high-quality, sustainable’ growth
▼ + stars: | 2023-11-28 | by ( Laura He | ) edition.cnn.com time to read: +4 min

“High-quality, sustainable growth is far more important.”The country is moving away from manufacturing and real estate, its traditional drivers of growth, towards a newer economic model driven by consumption and services, he added. “I’m confident China will enjoy healthy and sustainable growth in 2024 and beyond.”His remarks come at a time when China is battling a protracted recession in its vast real estate sector. But the country’s real estate sector is still struggling with sluggish sales and falling home prices. “China’s real estate market is experiencing some adjustments,” he said. The regulators have also introduced a raft of measures to stabilise the real estate industry, including reducing mortgage rates for home buyers.

Persons: Pan Gongsheng, “, Pan, “ I’m, ”, Stringer Organizations: Hong Kong CNN, People’s Bank of, “, Getty Locations: Hong Kong, “ China, People’s Bank of China, China, “, Fuyang, China's, Anhui, AFP, Wuhan, Hubei

☆ Jefferies discusses China's probe into shadow bank Zhongzhi
▼ + stars: | 2023-11-27 | 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 EmailJefferies discusses China's probe into shadow bank ZhongzhiShujin Chen, China economist and head of China financial and property research at Jefferies, discusses the country's shadow banking sector, which she says is "largely affected by the property developers' default."

Persons: Jefferies, Shujin Chen Organizations: Jefferies Locations: China

☆ Beijing is making its biggest move yet to patch up the property crisis threatening to blow up China's economy
▼ + stars: | 2023-11-24 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

China is drafting a "white list" of property developers for bank financing, per Bloomberg. China's massive property sector is in a slump, adding to the country's post-COVID economic woes. AdvertisementChina's finally starting to do something about the three-year property crisis that's been weighing on its COVID-scarred economy. China's real-estate sector has been mired in a crisis since the second half 2021 when a liquidity crisis at Evergrande — once China's second-largest developer — came into public view. AdvertisementStill, not everyone is convinced Beijing's property "white list" will be the solution to China's property problems.

Persons: —, China's, Nomura, it's, Rory Green, Green, White Knight, Vishnu Varathan Organizations: Bloomberg, Service, BI, Mizuho Bank, Business Locations: China, Beijing, Asia

☆ Exclusive: China's state banks seen swapping and selling dollars for yuan
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +3 min

Chinese Yuan and U.S. dollar banknotes are seen in this illustration taken March 10, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSHANGHAI, Nov 21 (Reuters) - China's major state-owned banks were seen exchanging yuan for U.S. dollars in the onshore swap market and selling those dollars in spot currency markets this week, two sources told Reuters on Tuesday. Some market participants said state banks might be trying to speed the yuan's gains and spur exporters to convert more of their FX receipts into yuan. The selling of dollars by state banks caused the onshore spot yuan to briefly touch 7.1296 per dollar, firmer than its daily official guidance for the first time in four months. To me, it looks like they are doing preparatory work ahead of a policy rate cut," said Kiyong Seong, lead Asia macro strategist at Societe Generale.

Persons: Yuan, Dado Ruvic, Kiyong Seong, Zhi Xiaojia, Zhi, Simon Cameron, Moore, Clarence Fernandez Organizations: REUTERS, Rights, Reuters, Federal, People's Bank of China, Societe Generale, Credit Agricole, Shanghai, Thomson Locations: Asia, China, United States

☆ Morning Bid: Catching breath as Nvidia update due
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +5 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 17, 2023. The dollar (.DXY) continued to fall, however, with its DXY index down for the fourth day to its lowest since August. Dollar losses were broad based, but China's yuan appeared to lead the way to its strongest level since July 27. In Europe, sterling pushed higher ahead of expected tax cuts at Wednesday's budget speech from UK finance minister Jeremy Hunt. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Brendan McDermid, Mike Dolan, Sam Altman, OpenAI, hoover, LSEG, Jeremy Hunt, Siena, Christine Lagarde, Isabel Schnabel, Susan Fenton Organizations: New York Stock Exchange, REUTERS, Microsoft, Tech, Nvidia, St, Wall, Treasury, Reserve, Bank of, Monday, Philadelphia Federal, European Central Bank, ECB, Lowes, Autodesk, Devices, Jacobs Solutions Reuters Graphics Reuters, Reuters, Thomson Locations: New York City, U.S, Bank of China, China, St, Europe, Britain, Italy, Chicago, Canada

☆ China keeps lending benchmark rates unchanged, as expected
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +3 min

Paramilitary police officers stand guard in front of the headquarters of the People's Bank of China, the central bank (PBOC), in Beijing, China September 30, 2022. The one-year loan prime rate (LPR) was kept at 3.45% and the five-year LPR was unchanged at 4.20%. Most new and outstanding loans in China are based on the one-year LPR, while the five-year rate influences the pricing of mortgages. The steady fixings came after the central bank kept its medium-term interbank liquidity rate unchanged last week. The LPR, which banks normally charge their best clients, is set by 18 designated commercial banks who submit proposed rates to the central bank every month.

Persons: Tingshu Wang, Julian Evans, Pritchard, Winni Zhou, Tom Westbrook, Sam Holmes Organizations: People's Bank of China, REUTERS, Rights, Capital Economics, Thomson Locations: Beijing, China, Rights SHANGHAI, SINGAPORE, United States, outflows

☆ Exclusive: IMF chief says Biden-Xi engagement an important signal for world to cooperate
▼ + stars: | 2023-11-18 | by ( David Lawder | ) www.reuters.com time to read: +4 min

The Biden-Xi meeting is "important at a time when geo-economic fragmentation has indeed deepened with negative consequences for the prospects for accelerating growth," Georgieva said. U.S.-China engagement also will be an important factor on negotiations over World Trade Organization reform, including restoration of its dispute settlement system. "We are already seeing the impact of antisemitism and Islamophobia, raising their ugly heads all over the world. IMF SHAREHOLDING REFORMSU.S. Treasury Secretary Janet Yellen said during meetings last week with her Chinese counterpart that a key outcome of U.S.-China economic engagement was Beijing's support for a 50% increase in IMF quota-based resources, without an immediate rise in shareholding for China. Georgieva said it was important for the IMF to start quickly on revamping its shareholding formula to boost the representation of fast-growing developing economies: "The world needs an IMF that is financially strong, and that is also legitimate."

Persons: Joe Biden, Kristalina, Dina Boluarte, Loren Elliott, Kristalina Georgieva, Xi Jinping, Georgieva, Biden, Xi, Janet Yellen, David Lawder, Chris Reese, Tom Hogue Organizations: International Monetary Fund, Economic Cooperation, REUTERS, FRANCISCO, Monetary Fund, Reuters, Biden, U.S ., APEC, U.S, World Trade Organization, United, Hamas, IMF, Treasury, Thomson Locations: Asia, San Francisco , California, U.S, China, United Arab Emirates, GAZA, Gaza, Egypt, Lebanon, Jordan, Israel

☆ China property market: There's a 'self-fulfilling negative feedback loop,' says Goldman Sachs
▼ + stars: | 2023-11-17 | 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 EmailChina property market: There's a 'self-fulfilling negative feedback loop,' says Goldman SachsHui Shan, chief China economist at Goldman Sachs, says government policy should provide a "clear roadmap."

Persons: Goldman Sachs Hui Shan, Goldman Sachs Organizations: China Locations: China

☆ 3 things to know about the most important relationship in the global economy
▼ + stars: | 2023-11-15 | by ( Michelle Toh | ) edition.cnn.com time to read: +10 min

Even so, finding ways to “get back on a normal course” — in the words of Biden — matters hugely to the global economy. He also pointed to some American companies leaving China altogether, such as asset management giant Vanguard. In the third quarter, a measure of foreign direct investment into China turned negative for the first time in 25 years. The country is by far the world’s biggest gallium producer, and a leading global producer of germanium, according to the US Geological Survey. Listed American companies with big business in China, such as Apple (AAPL) and Tesla (TSLA), may face higher scrutiny, too.

Persons: Joe Biden, Xi Jinping, “, Biden, ”, Scott Kennedy, Chenggang Xu, California Justin Sullivan, Xu, Gina Raimondo, Adam Glanzman, Zongyuan Zoe Liu, Donald Trump, Liu, … Organizations: Hong Kong CNN —, Economic Cooperation, CNN, Center for Strategic, International Studies, Stanford Center, China’s, Shipping, Port, Association of Southeast Asian Nations, European Union, American Chamber of Commerce, Vanguard, Companies, US, Nvidia, Semiconductor Industry Association, Bloomberg, Getty, Geological Survey, Council, Foreign Relations, Communist Party of China Finances, Capital, Apple, Chinese Communist Party, China Economic, Security, Commission, Biden, CFR Locations: China, Hong Kong, San Francisco, Asia, United States, Mexico, Canada, Port of Oakland, California, Shanghai, Ukraine, Moscow, Washington, Beijing, American, New York, US, Japan, Netherlands, Sequoia

☆ China's unfinished property projects are 20 times the size of Country Garden
▼ + stars: | 2023-11-15 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

HANGZHOU, CHINA - NOVEMBER 15, 2023 - An aerial photo shows a new property under construction in Hangzhou City, Zhejiang Province, China, Nov 15, 2023. (Photo credit should read CFOTO/Future Publishing via Getty Images)BEIJING — The size of unfinished, pre-sold homes in China is about 20 times the size of property developer Country Garden as of the end of 2022, according to a Nomura report on Wednesday. "We estimate that there are around 20 million units of unconstructed and delayed pre-sold homes," said Nomura's Chief China Economist Ting Lu and a team. About 3.2 trillion yuan ($440 billion) is needed to complete those remaining units, according to the analysts' estimates. Ensuring construction of the homes has been a government priority since delays make people less willing to buy new apartments.

Persons: Nomura, Ting Lu Organizations: National Bureau, Statistics, Publishing, Getty Images, U.S, Bloomberg News, China Locations: HANGZHOU, CHINA, Hangzhou City, Zhejiang Province, China, BEIJING

According to the Pentagon's most recent report on China's military power, Beijing has “denied, canceled or ignored” military-to-military communications and meetings with the Pentagon for much of last year and this year. In an effort to improve transparency and communication, defense leaders from the two countries were meeting regularly. He and other defense chiefs, Joint Chiefs chairmen and regional high-level U.S. commanders routinely traveled to China over the next decade, and Chinese defense leaders came to the Pentagon. The Pentagon routinely complained that there was little tangible progress in the press for greater transparency in China’s military ambitions and its burgeoning defense budget. But the lack of communications heightened worries about an increase in what the Pentagon calls risky Chinese aircraft and warship incidents in the past two years.

Persons: Joe Biden, Xi Jinping, “, Robert Gates, ”, Chuck Hagel, Hagel, China's, Obama, Trump, Nancy Pelosi’s, Pelosi, Newt Gingrich, Carolyn Bartholomew, Bonnie Lin, ” Lin, Tara Copp Organizations: WASHINGTON, Economic Cooperation, Military Maritime, U.S, Pentagon, Defense Department, Chiefs, Yuchi, Pacific ., Beijing, The Defense Department, China Economic, Security, China, Center for Strategic, International Security, Associated Press Locations: Asia, San Francisco, China, Beijing, U.S, Singapore, South China, South, America's, Taiwan, Russia, Ukraine, Syria, Washington

☆ Some fund managers see merit in China's deeply discounted stocks
▼ + stars: | 2023-11-14 | by ( Summer Zhen | ) www.reuters.com time to read: +5 min

U.S. asset manager Fidelity International is highlighting China's looser monetary policy and the government's recent 1 trillion yuan ($137.10 billion) borrowing-and-spending sovereign bond plan as a tailwind for the country's stock markets. London-based £3 billion fund manager Somerset Capital Management likewise finds China exciting. The stock market has yet to recover, but has stabilised. Morgan Stanley estimates long-only foreign investors now have their deepest underweight positions in China and Hong Kong equities in years. Chinese stocks could see a short-term sentiment pick-up given foreign funds have such light positions in the market, said Redmond Wong, Greater China market strategist at Saxo Markets.

Persons: Dado Ruvic, ”, Marty Dropkin, Mark Williams, Morgan Stanley, Patrick Ghali, Sean Ho, Vivek Tanneeru, Redmond Wong, Summer Zhen, Xie Yu, Vidya Ranganathan, Kim Coghill Organizations: REUTERS, Fidelity, Asia Pacific, Fidelity International . London, Somerset Capital Management, Nasdaq, Japan’s Nikkei, Sussex Partners, Hong, China, Hang Seng Tech, Monetary Fund, Cambridge Associates, Capital, “, Triata, Matthews Asia, Saxo Markets, Thomson Locations: HONG KONG, China, U.S, Asia, Hong Kong, London, Boston, San Francisco, Greater China

Nov 15 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Biden and Xi have only met once before, and this is Xi's first visit to the U.S. since 2017. In a separate dinner with business leaders, he will also be looking to boost flagging investment by U.S. firms in China. The latest retail sales, industrial output, investment and unemployment figures for October will give an insight into whether China's economy is maintaining the surprisingly strong momentum it showed in the third quarter. Citi's China economic surprises index has been in positive territory for almost a month, suggesting activity is strengthening or analysts are lowering their expectations.

Persons: Jamie McGeever, Russell, Joe Biden, Xi Jinping, Biden, Xi, China's Organizations: Tuesday's, Nasdaq, Asia Pacific Economic Cooperation, U.S, Tencent Holdings, JD.Com, Thomson, Reuters Locations: Tuesday's U.S, Zealand, Asia, San Francisco, China, Japan

Lending data from China's central bank offers a glimpse of government priorities: as of the end of September, outstanding loans to the troubled property sector fell 0.2% year-on-year but lending to the manufacturing sector jumped 38.2%. This time, the government's focus is narrower, targeting high-tech and "advanced manufacturing", a goal laid out in 2021 in the 14th five-year plan. It grew 11.3% in the first nine months of 2023 year-on-year, compared with 6.3% for overall manufacturing investment, according to data from China's National Bureau of Statistics. For example, Guangdong province has increased lending to both high-tech and advanced manufacturing by about 45%, state media reported. During the first half of 2023, outstanding loans to the high-tech manufacturing sector in the eastern province of Shandong jumped 67%.

Persons: Jens Eskelund, Eskelund, Xi Jinping, Joe Biden, Frederic Neumann, Neumann, Tao Wang, Wang, Fu, Lu Zhengwei, Siyi Liu, Kripa Jayaram, Robert Birsel Organizations: Rights, European Chamber of Commerce, Asia Pacific Economic Cooperation, U.S, Reuters Graphics, overcapacity, HSBC, UBS, China's National Bureau of Statistics, Rystad Energy, EV, China Passenger Car Association, Bank, Industrial Bank, Thomson Locations: Suqian, Jiangsu province, China, CHINA, Rights BEIJING, Europe, Beijing, San Francisco, Xi, Asia, Guangdong province, Shandong, Dongguan, Shanghai

WASHINGTON (AP) — The United States and China are the two global economic heavyweights. The meeting will bring together 21 Pacific Rim countries, which collectively represent 40% of the world’s people and nearly half of global trade. Indeed, imports of Chinese goods to the United States were down 24% through September compared with the same period of 2022. Xi, too, has reason to try to restore economic cooperation with the United States. “This will not be an easy sell.’’Complicating matters is that the tensions between Washington and Beijing go well beyond economics.

Persons: Joe Biden, Xi, Eswar Prasad, “, Prasad, Donald Trump, Trump, Biden, Chad Bown, Janet Yellen, Lifeng, —, ” Yellen, ’ ’, Wendy Cutler, Raja Krishnamoorthi, ’ ’ Krishnamoorthi, ’ Organizations: WASHINGTON, International Monetary Fund, “, Cornell University, Economic Cooperation, Biden, World Trade Organization, U.S, Peterson Institute for International Economics, Prosperity, Trump, Group, Bain & Co, Micron, IMF, United, Asia Society Institute, Chinese Communist Party, Republicans, Pew Research Center, Center for Strategic, International Studies, Rep, Illinois Democrat Locations: United States, China, Washington, Beijing, U.S, Ukraine, Gaza, Asia, San Francisco, Shanghai, Hong Kong, Xinjiang, India, Philippines, South China, Taiwan, Chinese, Kenya, Nigeria, Illinois

☆ Gina Raimondo seeks better ties with China amid tensions over tech, Taiwan
▼ + stars: | 2023-11-11 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +2 min

CNN —Ahead of high-stakes meetings next week between the United States and China, US Commerce Secretary Gina Raimondo dismissed the notion there would be a military conflict with China over Taiwan. Both the United States and China “have a desire to stabilize (their) relationship,” Raimondo told CNN’s Christiane Amanpour in an interviewed that aired Saturday. Raimondo noted the world is looking to the United States and China “to be responsible and manage this relationship.”Raimondo acknowledged there is a “great competition” with China, echoing similar sentiments expressed by President Joe Biden, who has stated the United States wants competition with China, rather than outright hostility and conflict. At the same time, Raimondo said she has told China “there can be no negotiation when it comes to matters of national security,” particularly with regard to semiconductor chips used to manufacture advanced weapons. Also on the table are issues surrounding military communication between the United States and China, the climate crisis and narcotics trafficking.

Persons: Gina Raimondo, ” Raimondo, CNN’s Christiane Amanpour, Raimondo, Joe Biden, ”, Mao Ning, —, Biden, Xi Jinping Organizations: CNN, US, China, Commerce Department, San Francisco Bay Area Locations: United States, China, Taiwan, San Francisco Bay

☆ Yellen and China's He to 'intensify communication' after pre-APEC meetings
▼ + stars: | 2023-11-10 | by ( ) www.cnbc.com time to read: +2 min

Janet Yellen, US Treasury secretary, and He Lifeng, China's vice premier, during a meeting in San Francisco, California, US, on Friday, Nov. 10, 2023. U.S. Treasury Secretary Janet Yellen and Chinese Vice Premier He Lifeng agreed to "intensify communication" and work together on a range of economic, financial stability and regulatory issues, Treasury said on Friday. "During the meetings, Secretary Yellen emphasized the importance that both countries responsibly manage the bilateral economic relationship, including maintaining resilient communication channels," Treasury said. Yellen and He exchanged their views on domestic and global macroeconomic and financial developments, it said, noting that Yellen acknowledged "significant headwinds and risks to the global economy." They also discussed the Israel-Hamas war, and Yellen spoke about the need "to prevent escalation and expansion of the conflict in the Middle East," Treasury said.

Persons: Janet Yellen, Lifeng, Yellen Organizations: Treasury, ., Economic Cooperation, International Monetary Fund Locations: San Francisco , California, China, U.S, San Francisco, Asia, Russia, Ukraine, Israel

☆ China slips back into deflation in October after pork prices plunged
▼ + stars: | 2023-11-09 | by ( Manav Tanneeru | Michelle Toh | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Consumer prices in China fell more than expected last month, sliding the country back into deflation and renewing concerns about the strength of the world’s second largest economy. As China’s most consumed meat, pork has an outsized weighting in the consumer price index. He said deflation was a “pernicious” situation characterized by a decline in consumer prices as well as the prices of assets and wages, leading to a sharp slowdown in economic activity. But consumer prices recovered in August. This drop “reflects uncertainty around the solidity of China’s recovery,” HSBC Greater China economist Erin Xin noted in a report.

Persons: Goldman Sachs, Robert Carnell, ”, Erin Xin Organizations: Hong Kong CNN —, National Bureau of Statistics, Economics, Asia Pacific, ING, ” HSBC Locations: China, Hong Kong

REUTERS/Kevin Lamarque/File Photo Acquire Licensing RightsNov 10 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The three main U.S. equity indices quickly sank, and ended between 0.7% and 1% lower on the day. If Asian and emerging stocks follow Wall Street's lead, they will close the week in the red. Sentiment towards China, meanwhile, suffered another blow on Thursday after inflation figures showed that consumer prices swung lower in October. On the political front, Chinese Vice Premier He Lifeng and U.S. Treasury Secretary Janet Yellen hold talks in San Francisco.

Persons: Jerome Powell, Kevin Lamarque, Jamie McGeever, Kazuo Ueda, Ueda, Lifeng, Janet Yellen, Yellen, Deepa Babington Organizations: Federal, Committee, Federal Reserve, REUTERS, Fed, Treasury, Traders, U.S ., Bank of Japan, ., PMI, Thomson, Reuters Locations: Washington , U.S, U.S, Tokyo, Japan, China, San Francisco, Zealand, India, Australia

☆ China suffers its first foreign investment deficit as US tensions and anti-spying laws spark a western exodus
▼ + stars: | 2023-11-06 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

China just posted a quarterly foreign investment deficit for the first time. Officials have released foreign direct investment figures each quarter for the past 25 years – and it's the first time the gauge has turned negative, Reuters reported. The deficit suggests that western countries and companies are shunning China with Sino-US tensions steadily rising and new anti-spying laws spooking international investors. Analysts flagged that clampdown as one factor driving the decline in foreign direct investment. The foreign direct investment deficit is far from the only economic headache that Beijing faces.

Persons: China's, —, Joe Biden, Duncan Wrigley, Mark Mobius, he'd Organizations: Service, State Administration of Foreign, Reuters, Analysts, Macroeconomics, Bloomberg, " International, Micron, Bain, Co Locations: China, Beijing, Shanghai

(AP) — U.S. Treasury Secretary Janet Yellen will host Chinese Vice Premier He Lifeng for two days of talks this week, the latest in a series of high-level talks between U.S. and Chinese officials as the world's two largest economies aim to ease tensions, the Treasury Department announced Monday. The Yellen-He talks set for Thursday and Friday come ahead of the start of the Asia-Pacific Economic Cooperation summit in San Francisco which starts November 11. Xi similarly met with Blinken in June when the secretary of State traveled to Beijing for talks with Wang. Yellen is expected to amplify the message on climate during her talks with He in San Francisco. Critics, including the Biden administration, say China’s projects often create massive debt and expose nations to undue influence by Beijing.

Persons: Janet Yellen, Joe Biden, Xi Jinping, ” Yellen, Biden, Wang Yi, Antony Blinken, Jake Sullivan, Xi, Wang, Yellen, “, Ralph Johnson, Ken Moritsugu Organizations: —, Treasury, U.S, Treasury Department, Economic Cooperation, Chinese Foreign, White, White House, Blinken, Ministry, San Francisco . Treasury, Initiative, Pentagon, Associated Press Locations: REHOBOTH BEACH, Del, Asia, San Francisco, Washington, Beijing, China, San Francisco ., U.S, Africa, Yellen, East, South China, American, Philippines, Philippine

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