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☆ VF Corp withdraws annual forecasts on slowing demand for higher-priced apparel
▼ + stars: | 2023-10-30 | by ( ) www.cnbc.com time to read: +2 min

VF Corp withdrew its full-year revenue and profit forecasts on Monday, with demand for its higher-priced apparel and footwear easing as customers turn more cost conscious, especially in the United States. Shares were down 4% in extended trading after VF Corp also reported a lower-than-expected second-quarter profit. Sales in Americas, its biggest market, fell 11% in the reported quarter, but rose 8% in Greater China helped by a rebound in demand after the COVID-19 pandemic. The company posted quarterly adjusted earnings per share of 63 cents, below analysts' expectations of a profit of 65 cents. Its second-quarter revenue fell 2% to $3.03 billion in the quarter ended September, compared with analysts' estimate of $3 billion, according to LSEG data.

Persons: Macy's Organizations: Corp, Vans, VF Corp, Capital, Partners Asset Management Locations: United States, Americas, Greater China

☆ Stellantis is teaming up with Chinese startup Leapmotor on EVs
▼ + stars: | 2023-10-26 | by ( Michelle Toh | ) edition.cnn.com time to read: +2 min

The two will form a joint venture that will give Stellantis the exclusive rights to produce, export and sell the Chinese brand’s vehicles outside Greater China. Stellantis will control the joint venture, with a 51% stake, while Leapmotor will take a 49% share. In July, Volkswagen announced it was buying a 5% stake in Chinese EV maker Xpeng and unveiled a strategic partnership to jointly develop new vehicles. News of Stellantis’ latest partnership comes about a year after it terminated its joint venture in China with Guangzhou Automobile Group Company (GAC). Stellantis is acquiring Leapmotor shares at a price of 43.8 Hong Kong dollars ($5.6) apiece, according to a Thursday stock exchange filing by the Chinese firm.

Persons: Hong Kong CNN —, Leapmotor, Mercedes, Nio, Stellantis, weren’t Organizations: Hong Kong CNN, Chrysler, Volkswagen, Xpeng, Reuters, CNN, Nio, Guangzhou Automobile Group Company, Hong Locations: Hong Kong, Leapmotor, Hangzhou, Greater China, Shanghai, China

☆ Jeep, Dodge maker Stellantis to invest $1.6 billion in Chinese EV startup Leapmotor
▼ + stars: | 2023-10-26 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +5 min

Arjun Kharpal | CNBCStellantis on Thursday said it will invest 1.5 billion euros ($1.58 billion) in Chinese electric vehicle startup Leapmotor , as traditional automakers look for a way to compete in China's cutthroat market. The companies will form the Leapmotor International joint venture, aiming to boost sales of the Chinese brand's electric cars overseas. China, the world's biggest electric vehicle market, is dominated by domestic company BYD , as well as U.S. automaker Tesla . Traditional vehicle companies have been seen to be too slow to transition to manufacturing electric vehicles, hampering potential growth in the Chinese market. Stellantis eyes China boostThe deal could boost Stellantis' efforts in China, by having a local partner lead the way.

Persons: Arjun Kharpal, Li Auto, Stellantis, Abhik Mukherjee, Carlos Tavares, Leapmotor, Zhu Jiangming, Counterpoint's Mukherjee, Bill Russo Organizations: Leapmotor, CNBC, International, JV, Chrysler, Maserati, Tesla, Huawei, Counterpoint Research, EV, IAA, Guangzhou Automobile Company Locations: Leapmotor . China, China, Hangzhou, Munich, Greater China, Europe, Stellantis, China's Xpeng

☆ Stellantis to buy about 20% stake in China's Zhejiang Leapmotor for $1.6 bln
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +2 min

[1/2] A view shows the logo of Stellantis at the entrance of the company's factory in Hordain, France, July 7, 2021. REUTERS/Pascal Rossignol/File Photo Acquire Licensing RightsOct 26 (Reuters) - Stellantis NV (STLAM.MI) said on Thursday it would invest 1.5 billion euros ($1.58 billion) to acquire approximately 20% of Chinese electric vehicle (EV) maker Zhejiang Leapmotor Technology (9863.HK). After the subscription, Stellantis will own about 21.07% of Zhejiang Leapmotor's total issued Hong Kong shares. Stellantis, whose brands include Fiat and Peugeot, has a very small presence in China, the world's largest auto market. The group last year closed its joint venture that makes Jeeps in China with local partner Guangzhou Automobile Group (601238.SS) amid disappointing results.

Persons: Pascal, Leapmotor, Stellantis, Carlos Tavares, Sameer Manekar, Kanjyik Ghosh, Devika Syamnath, Subhranshu Organizations: REUTERS, Stellantis, Zhejiang Leapmotor Technology, HK, Hong, Hong Kong, Chrysler, Fiat, Peugeot, Renault, Guangzhou Automobile Group, Thomson Locations: Hordain, France, Zhejiang, Hong Kong, Greater China, China, Europe, Bengaluru

☆ Knight Frank expects Hong Kong property prices to fall 5% in the second half of 2023
▼ + stars: | 2023-10-25 | 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 EmailKnight Frank expects Hong Kong property prices to fall 5% in the second half of 2023Martin Wong, Knight Frank's head of research and consultancy for Greater China, says he expects them to fall by another 5% in 2024. He adds that high interest rates in the city will likely persist for another 12 to 15 months.

Persons: Knight Frank, Martin Wong, Knight Frank's Locations: Hong Kong, Greater China

☆ Revenge travel is over — even in China, says CEO of InterContinental Hotels Group
▼ + stars: | 2023-10-24 | by ( Monica Pitrelli | ) www.cnbc.com time to read: +3 min

In this article IHG-GBIHG Follow your favorite stocks CREATE FREE ACCOUNTPent-up travel demand — which drove global travel recovery following the Covid-19 pandemic — is over, said Intercontinental Hotels Group CEO Elie Maalouf. "So we're really past revenge travel — even in China." The company's latest quarterly update showed travel demand remained strong during the close of the summer travel season. Elie Maalouf CEO of Intercontinental Hotels GroupThe company currently operates more than 6,200 hotels worldwide and has another 1,978 in the pipeline. "In the United States, there are about 9,000 hotels that we think are interested in joining a system.

Persons: Elie Maalouf, Maalouf, We're, —, it's, IHG, Garner Organizations: Intercontinental Hotels, CNBC, Hotels, Resorts, Dubai —, Holiday Locations: China, Greater China, Beijing, Shanghai, Guangzhou, Shenzhen, Americas, Europe, Middle East, Africa, Asia, —, Spanish, Dubai, ., Southeast Asia, Central Asia, United States

☆ Global economic losses from extreme weather could hit $5 trln -Lloyd's
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +2 min

Lloyd's, which carried out the research alongside the Cambridge Centre for Risk Studies, stressed that its "systemic risk scenario", which models the global economic impact of extreme weather, was hypothetical. But it said the work would improve business and policymaker understanding of their exposure to critical threats such as extreme weather. When adjusting the estimated $5 trillion in losses over a five-year period for the probability of those extreme weather events occurring, the expected global economic losses were $711 billion, Lloyd's said. Lloyd's modelled global economic losses of extreme weather events by estimating the impact of food and water shocks on global gross domestic product over a five-year period. The Caribbean region would lose 19% of its GDP over five years if the extreme weather events were concentrated there, Lloyd's estimated.

Persons: Umit, Lloyd's, Trevor Maynard, Tommy Reggiori Wilkes, Mark Heinrich Our Organizations: REUTERS, Cambridge Centre, Risk, Thomson Locations: Turkey's, Istanbul, Turkey, London, Greater China, Caribbean

☆ China's consumer spending isn't roaring back to pre-pandemic levels yet
▼ + stars: | 2023-10-11 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Kevin Frayer | Getty Images News | Getty ImagesBEIJING — China's consumer spending still isn't growing as fast as it did before the pandemic, analysts said. Retail sales for the Sept. 29 to Oct. 5 holiday period rose by 9% from a year ago, according to state media reports of Ministry of Commerce data. China's retail sales fell by 0.2% in 2022, according to official figures. In the Asia-Pacific region, Chinese spending on luxury goods has already recovered to 2019 levels, the report said. Consumer spending has lagged China's overall economic growth since the pandemic started in early 2020.

Persons: Kevin Frayer, Christine Peng, Christine Peng UBS, Peng, Imke Wouters, Oliver Wyman, Wouters Organizations: Getty, BEIJING, Ministry of Commerce, UBS, CNBC, Consumers, Christine Peng UBS UBS, HSBC Locations: Beijing, China, Hainan, Europe, Asia, Pacific, U.S

☆ Apple's center of gravity is China, not Cupertino
▼ + stars: | 2023-10-06 | by ( Hasan Chowdhury | Huileng Tan | ) www.businessinsider.com time to read: +4 min

Apple might be headquartered in Cupertino but its heart is in China. AdvertisementAdvertisementApple's leadership may operate from the 175-acre, tree-covered campus in sunny Cupertino, California but, in reality, the company's center of gravity is in China. Roughly 95% of Apple products including iPhones, AirPods, Macs and iPads are reported to be made in China . And multiple media outlets reported that China had banned iPhones for government staffers, knocking its share price. Apple CEO Tim Cook likes to present the company's decades-long involvement with China as a cause for celebration.

Persons: —, Research, Tim Cook, Anshuman, Gene Munster, Jay Newman Organizations: Apple, CCP, Service, Hindustan Times, Deepwater Asset Management, Elliott Management, Huawei, China, Forum Locations: Cupertino, China, Cupertino , California, iPhones, India, Taiwan, Beijing

☆ Cartoon elves and scrolls visualize Chinese military’s goal of Taiwan ‘reunification’
▼ + stars: | 2023-10-03 | by ( Jessie Yeung | ) edition.cnn.com time to read: +7 min

It has long vowed to “reunify” Taiwan with the Chinese mainland, by force if necessary. The Chinese painting "Dwelling in the Fuchun Mountains" displayed in its entirety in the National Palace Museum Taipei on June 1, 2011. As a result, the scroll has long been seen as a living symbol of the division between China and Taiwan. Visitors look at "Dwelling in the Fuchun Mountains" at the National Palace Museum Taipei on June 1, 2011. The “Escape from the British Museum” series “has struck a chord in people’s hearts and reflects the deep patriotic sentiments,” said one article in the state-run tabloid Global Times.

Persons: Hong Kong CNN —, “, Patrick lin, Huang Gongwang, —, Shi Tang, Xi Jinping, ” Xi’s, Chiang Kai, Mao Zedong’s, ” Organizations: Hong Kong CNN, Eastern Theater Command, People’s Liberation Army, PLA, Communist Party, Theater Command, Palace Museum, Getty, National, Museum, Zhejiang Provincial Museum, National Palace Museum, Taiwan, World Health Organization, Olympic Games, Asian, British Museum ’, British Museum, Beijing’s, Nationalist, Global Times, British Locations: Hong Kong, Taiwan Strait, People’s Republic of China, Taiwan, Palace Museum Taipei, AFP, Taipei, Hangzhou, China, National Palace Museum Taipei, Beijing, Ukraine, Fujian, London, Mao Zedong’s Communist, Greater China

HONG KONG/BEIJING, Sept 28 (Reuters) - China Evergrande Group's (3333.HK) founder is being investigated over suspected "illegal crimes", the embattled developer said on Thursday, as creditors become increasingly concerned about the group's prospects amid an uncertain debt revamp plan and liquidation risk. Evergrande has been working to get creditors' approval for restructuring its offshore debt. The offshore debt restructuring plan now looks set to falter and the risks of the company being liquidated are rising, some analysts said. An Evergrande sign is seen near residential buildings at an Evergrande residential complex in Beijing, China September 27, 2023. "We believe that Evergrande's debt turmoil has had a great turmoil and negative impact on the global economy, and the things behind it are not simple."

Persons: Hui Ka Yan, Evergrande, Hui, Gary Ng, Ng, Florence Lo, They've, Christopher Beddor, Yan Yuejin, Saxo, Redmond Wong, Upasana Singh, Donny Kwok, Scott Murdoch, Ziyi Tang, Anne Marie Roantree, Sumeet Chatterjee, Kim Coghill, Shri Navaratnam, Lincoln, Miral Fahmy, Susan Fenton Organizations: HK, Trading, Asia Pacific, Reuters, REUTERS, Evergrande, China Research, Development Institution, Buyers, China Market, Thomson Locations: HONG KONG, BEIJING, China, Asia, Beijing, Evergrande, Shanghai, Bengaluru, Hong Kong, Sydney

☆ Can China's economy reverse a sluggish 2023 in the last quarter? Here's what to watch
▼ + stars: | 2023-09-29 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +7 min

In 2020, Beijing tried to rein in real estate developers' high reliance on debt with new restrictions on financing. "The decline in the real estate sector was the result of the government's intentional measures to correct the bubbles in the market," Yao said. But he and other economists mostly don't expect real estate to return to significant growth in the future. Morgan StanleyThis week, worries about China's real estate sector persisted with highly indebted Evergrande running into more liquidity problems — along with reports Wednesday its chairman has been put under surveillance. This month, weekly data from Nomura indicate the real estate sales slump has moderated.

Persons: Stringer, Yao Yang, Yao, Dan Wang, Morgan Stanley, Clifford Lau, William Blair, China's, Robin Xing, there's, Bruce Pang, Pang doesn't Organizations: Afp, Getty, National School of Development, Peking University, Hang, China Center for Economic Research, Communist Party, Financial Work, Communist Party of, Nomura, CNBC Locations: Chongqing, China, BEIJING, Covid, Beijing, Shanghai, Hang Seng China, Communist Party of China, JLL

☆ Temasek unit raises $3.3 bln in flagship fund investing in China
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +2 min

SINGAPORE, Sept 28 (Reuters) - Singapore state investment firm Temasek's (TEM.UL) wholly owned unit True Light Capital said on Thursday it raised $3.3 billion in its flagship fund that invests in Greater China and has now closed it to new capital. The Singapore-based asset manager said in a statement the True Light Fund I secured capital from global investors including sovereign wealth funds, foundations, financial institutions, and family offices. The closing of the fund indicates that True Light can now focus on investing the capital. The fund will invest alongside Temasek in opportunities related to Greater China, True Light said. It invests directly in private and public equity as well as indirectly through private equity and venture funds, it added.

Persons: Yeo Chee Kian, Yibing Wu, Yantoultra Ngui, Muralikumar Organizations: U.S, Temasek, Milken Institute Asia, Thomson Locations: SINGAPORE, Singapore, Greater China, China, Taiwan

☆ Evergrande shares halted as concerns mount about developer's prospect
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +3 min

An Evergrande sign is seen near residential buildings at an Evergrande residential complex in Beijing, China September 27, 2023. Evergrande has been working to get creditors' approval for restructuring its offshore debt. The offshore debt restructuring plan now looks set to falter and the risks of the company being liquidated are rising, some analysts said. The company shares ended down 19% on Wednesday in the Hong Kong market, taking their losses to 81% since the resumption of trading in late August after a 17-month suspension. The recent regulatory easing may stabilize the housing market in the world's second-largest economy to some extent, Saxo Greater China Market Strategist Redmond Wong wrote in a research note.

Persons: Florence Lo, Hui Ka Yan, Hui, Evergrande, Gary Ng, Ng, Redmond Wong, Donny Kwok, Scott Murdoch, Ziyi Tang, Anne Marie Roantree, Sumeet Chatterjee, Kim Coghill, Shri Navaratnam Organizations: REUTERS, China Evergrande, HK, Bloomberg, Reuters, Asia Pacific, China Market, Thomson Locations: Beijing, China, HONG KONG, China's, Evergrande, Asia, Hong Kong, Saxo, Sydney, Lincoln

☆ Here are Tuesday's biggest analyst calls: Tesla, Rivian, Apple, Domino's, Levi's, Meta, Micron & more
▼ + stars: | 2023-09-26 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

UBS reiterates Levi Strauss as buy UBS said Levi Strauss' earnings will be less bad than feared in early October. Oppenheimer names Domino's a top pick Oppenheimer named Domino's as a top pick and said the downward revision cycle has "bottomed." Bank of America reiterates Meta as buy Bank of America said it's bullish heading into Meta's annual Connect conference event on Wednesday. "Given Meta's increased focus on integrating Al across surfaces, and CEO commentary on AI Agents on prior earnings calls, we believe the event may also include announcements on new AI/ML products." Citi reiterates Micron as buy Citi said its bullish heading into Micron earnings on Wednesday.

Persons: Baird, Levi Strauss, LEVI, Morgan Stanley, Oppenheimer, Domino's, Stifel, it's, Tesla, TSLA, Jefferies, Edwards, Goldman Sachs, Goldman Organizations: UBS, Barclays, Bank of America, Meta, Agents, JPMorgan, Apple, Nike, Citi, Micron, RBC, HSBC, AMC, ~$ Locations: Greater China, China

Hundreds of people lined up at a flagship Apple store in Beijing to pick up the new iPhone 15 when deliveries began on Friday. As of 10 a.m. Beijing time on Friday, iPhone 15 sales via JD 's Dada one-hour delivery app surged by 253% versus that of the iPhone 14 last year, Dada said. Zhao said he was planning to upgrade from his Huawei device to buy the iPhone 15 Pro Max, which has a list price of 9,999 yuan ($1,370). Strong iPhone 15 pre-salesApples' iPhone 15 pre-sales in China pointed to robust demand. Counterpoint Research's most optimistic outlook for Apple in China predicts a 4% year-on-year decline in Apple iPhone shipments in the fourth quarter.

Persons: Evelyn Cheng, JD, Dada, Zhao, he'd, China Zhao, Will Wong, Alibaba's Tmall, Pro Max, Tarun Pathak Organizations: Apple, CNBC, Huawei, Street Journal, Bloomberg, China's Ministry of Foreign Affairs, IDC Apple, Pro, IDC, Counterpoint Technology Market Research Locations: Beijing, Evelyn Cheng BEIJING, China, Sanlitun, Shanghai, Hangzhou, Americas

☆ China VCs have a big problem — and it’s not just a drop in U.S. investor appetite
▼ + stars: | 2023-09-19 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Among China-focused investment firms, only four U.S. dollar-denominated venture capital funds established between 2015 and 2020 have at least returned investors all the money they put in. Alternative assets include venture capital, but not publicly traded stocks and bonds. Preqin doesn't track every single China VC fund, and only included those with data as of the end of last year or more recently. In the world of early-stage investing, "limited partners" (typically institutions) give money to "general partners" (venture capital funds) to invest into startups. The outperforming funds were: Loyal Valley Capital Advantage Fund I, Hillhouse Fund II, Oceanpine USD Fund I and HighLight Capital USD Fund II.

Persons: Preqin, —, Reuben Lai, “, Reuben Lai Preqin, they'd, Alex Shum, Preqin's Lai, there's, Lai, Jinjian Zhang, Vitalbridge, Zhang Organizations: Nurphoto, Getty, ., China VC, CNBC, Fengshion, Investment Fund, LYFE Capital, GGV, BioTrack, U.S, Capital, II, Sequoia, Sequoia Capital China Growth Fund, TPG NewQuest Locations: Shenzhen, China, BEIJING, That's, Preqin, Greater China, Beijing, IPOs, Vitalbridge, Shanghai

☆ Asian shares drop as investors brace for central bank-packed week
▼ + stars: | 2023-09-18 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

U.S. West Texas Intermediate crude futures gained 0.8% to $91.52, their highest level since November, while Brent crude futures rose 0.7% to $94.55 per barrel. In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 0.7%. This week, global central banks will take centre stage, with five of those overseeing the 10 most heavily traded currencies holding rate-setting meetings. Last Friday, Wall Street ended sharply lower as U.S. industrial labour action weighed on auto shares. The euro gained 0.1% to $1.0667, after slumping to a 3-1/2 month low of $1.0632 last week as the European Central Bank signalled its rate hikes could be over.

Persons: BOE, BOJ, Taiwan's TSMC, Hong, Tommy Xie, Chris Weston, Weston, Kazuo Ueda, Cash Treasuries, Stella Qiu, Shri Navaratnam, Edwina Gibbs Organizations: Federal Reserve, Bank of Japan, Nasdaq, . West Texas, Brent, Japan's Nikkei, Technology, Reuters, Trust, Greater, Greater China Research, OCBC Bank, China Evergrande, Fed, U.S ., Bank of England, Treasury, Amazon, European Central Bank, Thomson Locations: China, SYDNEY, Europe, Asia, Pacific, Japan, Zhongrong, Greater China, HK, Pepperstone, Tokyo

☆ Asian shares stumble as investors brace for central bank packed week
▼ + stars: | 2023-09-18 | by ( Stella Qiu | ) www.reuters.com time to read: +5 min

S&P 500 futures advanced 0.2% while Nasdaq futures edged 0.1% higher. Also, Chinese trust firm Zhongrong International Trust Co, with exposure to Chinese property developers, said over the weekend it was unable to make payments on some trust products on time. The euro recovered 0.1% to $1.0673 in early Asia trade, after slumping to a 3-1/2 month low of $1.0629 last week as the European Central Bank signalled its rate hikes could be over. Brent crude futures rose 0.3% at $94.20 per barrel and U.S. West Texas Intermediate crude futures were up 0.4% at $91.14. Reporting by Stella Qiu; Editing by Lincoln Feast and Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: BOE, BOJ, Tommy Xie, Jerome Powell, Chris Weston, Weston, Kazuo Ueda, Cash Treasuries, Stella Qiu, Lincoln Organizations: SYDNEY, Federal Reserve, Bank of Japan, Nasdaq, Japan's Nikkei, China Evergrande, HK, International Trust Co, Greater, Greater China Research, OCBC Bank, U.S . Federal, Fed, U.S ., Bank of England, Treasury, Amazon, European Central Bank, Brent, . West Texas, Thomson Locations: China, Asia, Pacific, Japan, Hong Kong, Beijing, Greater China, Tokyo

☆ Top Wall Street analysts say these stocks have the best growth prospects
▼ + stars: | 2023-09-15 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +6 min

Here are five such stocks chosen by Wall Street's top analysts, according to TipRanks, a platform that ranks analysts based on their past performance. Further, the company continues to invest in AI and sees huge growth potential for its AI-powered features. The analyst noted that the company achieved strong growth in new products under its Identity, Cloud, and LogScale Security Information and Event Management (SIEM) offerings. Nevertheless, he feels that this pullback has created an attractive opportunity to buy CMG stock based on multiple positive catalysts that could emerge in the months ahead. Tarantino reaffirmed a buy rating on CMG stock with a price target of $2,400.

Persons: Wall, TD Cowen, Shaul Eyal, Zscaler, Eyal, Needham, Alex Henderson, Henderson, TipRanks, Baird, David Tarantino, Tarantino, LULU, Robert Drbul, Lulu, Drbul Organizations: Nasdaq, Investments, CrowdStrike, Security, Management, Charlotte, Microsoft, Grill, Lululemon Athletic, Guggenheim, Acushnet Locations: cybersecurity, Mexican, North America, China, Greater China

☆ Concerns about Apple in China hit two other Club stocks. Here's where we stand on all three
▼ + stars: | 2023-09-08 | by ( Morgan Chittum | ) www.cnbc.com time to read: +5 min

Club holding Apple (AAPL) isn't in danger of losing its footing, despite a recent market sell-off spurred by reports China is cracking down on iPhone usage. Still, Apple remains an "own-it don't-trade it" stock in the Club portfolio, as its standing as an aspirational brand in China shouldn't be affected by the government's apparent decision. Apple CEO Tim Cook "isn't just riding around saying, 'Boy, I sure hope China doesn't cut us off.' But if China were to confirm the new rules targeting iPhones, Apple is well-positioned to weather any near-term headwinds. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer, Tim Cook, Cramer, —, Jim, Apple, Morgan, Morgan Stanley, Truist, DuPont, Jim Cramer's Organizations: Apple, Street, Bloomberg, Club, Broadcom, DuPont de Nemours, Huawei, DuPont Broadcom, CNBC, Getty Locations: China, Beijing, India, AVGO, Greater China, Wuhan

In top consumer China, premiums climbed to as high as $55 an ounce over global spot prices this week, traders said, from $20-$38 last week. The policy-measures to support the economy are expected boost physical gold demand, said Peter Fung, head of dealing at Wing Fung Precious Metals. Official data on Thursday also showed that the People's Bank of China increased its gold holdings to 69.62 million fine troy ounces at end-August. Local gold prices were trading around 59,200 rupees per 10 grams on Friday, up nearly 2% in three weeks. In Japan, where domestic gold rates were trading at record levels this week, dealers charged $0.5 premiums.

Persons: Peter Fung, Bernard Sin, Harshad Ajmera, JJ, Anushree Mukherjee, Swati Verma, Rajendra Jadhav, Maju Samuel Organizations: Chinatown, Metals, People's Bank of China, U.S ., MKS, JJ Gold, Traders, Rajendra, Thomson Locations: China, Japan, India, Greater China, Kolkata, Local, Hong Kong, Singapore, Tokyo, Bengaluru, Mumbai

☆ Cramer says stick with Apple despite reports of China government iPhone ban
▼ + stars: | 2023-09-07 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer told investors not to sell Apple even after shares fell on Thursday after reports that China banned iPhone use for its government employees. Greater China, including Hong Kong and Taiwan, is Apple's third-largest market, making up 18% of total revenue, CNBC reported. Cramer admitted that a ban like this could lead to a huge hit for Apple's earnings. Cramer noted that Apple and many of its mega-cap tech peers continually find success not because of a single hit product, but rather because they are able to adapt. To Cramer, investors who choose to sell Apple shares now may miss out on stock surges prompted by a new iPhone release or new content not yet announced.

Persons: CNBC's Jim Cramer, Cramer, Tim Cook Organizations: Apple, CNBC Locations: China, Greater China, Hong Kong, Taiwan

☆ Apple shares fall after reports that China banned iPhone use by government employees
▼ + stars: | 2023-09-07 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

Apple CEO Tim Cook attends the annual session of China Development Forum (CDF) 2018 at the Diaoyutai State Guesthouse in Beijing, China March 26, 2018. Apple shares fell about 3% on Thursday, following a 4% decline on Wednesday, after several reports suggesting that Chinese government workers could be banned from using iPhones. Greater China, including Hong Kong and Taiwan, is Apple's third-largest market, accounting for 18% of total revenue of $394 billion. It's also where the vast majority of Apple products are assembled. The ban could spread to other state companies and government-backed agencies, Bloomberg News reported on Thursday.

Persons: Tim Cook, It's, Bernstein, Toni Sacconaghi, Sacconaghi, Dan Niles Organizations: Apple, China Development Forum, U.S, Street, Bloomberg, Huawei Locations: Diaoyutai, Beijing, China, Greater China, Hong Kong, Taiwan

☆ Asia stocks slip, dollar firms on growth concerns, Fed outlook
▼ + stars: | 2023-09-06 | by ( Kane Wu | ) www.reuters.com time to read: +3 min

REUTERS/Androniki Christodoulou/File Photo Acquire Licensing RightsHONG KONG, Sept 6 (Reuters) - Asia stocks fell on Wednesday after faltering growth in China and Europe heightened concerns about global economic momentum, while the dollar firmed as investors weighed the outlook for Federal Reserve interest rates. MSCI's gauge of Asia Pacific stocks outside Japan (.MIAPJ0000PUS) dipped 0.45%. "The China decline was bigger than expected," said Redmond Wong, Greater China market strategist at Saxo Markets. Manufacturing data from Germany, Britain and the euro zone also showed declines, while their service sectors fell into contraction. "The Europe data were rather weak.

Persons: Androniki, HSI, Redmond Wong, Wong, Australia's, Christopher Waller, John Milroy, Ord Minnett, Brent, Kane Wu, Edmund Klamann, Sam Holmes Organizations: REUTERS, Federal Reserve, Saxo Markets, Nikkei, U.S, BlackRock Investment Institute, Institute for Supply Management, PMI, Thomson Locations: Tokyo, Japan, HONG KONG, Asia, China, Europe, London, U.S, 0520GMT, Asia Pacific, Greater China, Germany, Britain, BlackRock, ., Saudi Arabia, Russia

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