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HONG KONG (AP) — Asian stocks advanced Monday ahead of policy decisions this week by Japan’s central bank and the Federal Reserve. Markets are awaiting a decision by the Bank of Japan on Tuesday on whether to raise its benchmark interest rate for the first time in 17 years. A report on consumer prices last week showed inflation remains stubborn, ticking up to 3.2% in February from 3.1% in January. Another report on prices at the wholesale level also showed inflation remains hotter than Wall Street expected. The Fed's main rate remains at its highest level since 2001.

Persons: Australia’s Organizations: Japan’s, Federal Reserve, Nikkei, Bank of Japan, Dow Jones, Nasdaq, Technology, Software, Adobe, Microsoft, Broadcom, Google, University of Michigan, Fed, Traders, CME Group, New York Mercantile Exchange, Brent, U.S Locations: HONG KONG, Tokyo, Hong Kong, Shanghai, South Korea, India, Bangkok, U.S

Germany’s DAX added 0.1% to 17,959.35 and the FTSE 100 in London edged 0.1% higher to 7,731.73. Markets are awaiting a decision by the Bank of Japan on Tuesday on whether to raise its benchmark interest rate for the first time in 17 years. The Hang Seng in Hong Kong edged 0.1% higher to 16,737.12, and the Shanghai Composite index gained 1% to 3,084.93. Elsewhere, Australia’s S&P/ASX 200 edged 0.1% higher to 7,675.80, and the Kospi in South Korea advanced 0.7%, to 2,685.84. A report on consumer prices last week showed inflation remains stubborn, ticking up to 3.2% in February from 3.1% in January.

Persons: Germany’s DAX, Australia’s Organizations: Japan’s, Federal Reserve, CAC, Dow Jones, Nikkei, Bank of Japan, Honda Motor, Dongfeng Motor, Nasdaq, Software, Adobe, Microsoft, Broadcom, Google, University of Michigan, Fed, Traders, CME Group, New York Mercantile Exchange, Brent, U.S Locations: HONG KONG, London, Paris, Tokyo, Hong Kong, Shanghai, China, South Korea, India, Bangkok, U.S

☆ McDonald's outlets across Australia, New Zealand, and Japan have been hit by a technical outage
▼ + stars: | 2024-03-15 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +2 min

McDonald's outlets in multiple countries have been hit by a technical outage. Restaurants in Australia, New Zealand, and Japan have been left unable to process orders. McDonald's Japan said on X that it was experiencing a "system failure." A similar statement was also issued by McDonald's New Zealand, according to The New Zealand Herald. Related storiesMcDonald's Japan said in an X post on the same day that it was experiencing a "system failure" as well.

Persons: McDonald's, —, It's Organizations: Service, McDonald's Australia, McDonald's, New Zealand Herald, Taiwan, Weibo Locations: Australia, New Zealand, Japan, McDonald's Japan, Zealand, Auckland , New Zealand, Hong Kong, Taiwan, China

☆ The ‘drinking bird’ makes a comeback and could power your gadgets with clean energy
▼ + stars: | 2024-03-14 | by ( Billy Stockwell | ) edition.cnn.com time to read: +4 min

“I began to contemplate whether we could convert the evaporation energy into mechanical energy first, and then translate it into electricity,” Wu said. Until now, previous attempts to convert evaporation energy into electricity have suffered from a low-conversion efficiency. The authors claim that their drinking bird generator can yield much more power than previous experiments that used other methods were able to. The team’s next goal is to design its own drinking bird that can harness the power of evaporation more efficiently. If they’re successful, the retro drinking bird may be here to stay.

Persons: it’s, Hao Wu, “, ” Wu, Wu, they’re Organizations: CNN, South China University of Technology Locations: Hong Kong, China

☆ Estee Lauder sinks on disappointment that CEO Fabrizio Freda didn't have better news about China
▼ + stars: | 2024-03-14 | by ( Paulina Likos | ) www.cnbc.com time to read: +4 min

Estee Lauder shares declined Thursday after CEO Fabrizio Freda offered an underwhelming outlook on China at a retail conference earlier in the day. Freda, who has been CEO for 14 years, said China remains an important growth segment for Estee Lauder, and the trend of more consumption there is not changing. While management is confident that performance will improve going forward, we still see Estee Lauder as a "show me" story. In the second half of fiscal 2024, Estee Lauder said it's positioned for stronger profitability versus the first half. Pedestrians walk past the American multinational skincare, and beauty products brand, Estée Lauder (Estee Lauder) logo seen in Hong Kong.

Persons: Estee Lauder, Fabrizio Freda, Freda —, Freda, it's, Jim Cramer's, Jim Cramer, Jim, Estée Lauder, Budrul Organizations: UBS Global Consumer, Retail Conference, UBS, Management, CNBC, Lightrocket, Getty Locations: China, New York City, U.S, Asia, American, Hong Kong

☆ HSBC is 'very positive' about the future of China's economy, CFO says
▼ + stars: | 2024-03-14 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

The Hong Kong observation wheel and the HSBC building in Victoria Harbour in Hong Kong. HSBC is "very positive" about the mid to long-term outlook for the Chinese economy despite current headwinds, the British bank's chief financial officer told CNBC. This prompted Beijing to ramp up its efforts to bolster manufacturing and domestic tech, in a bid to modernize its economy and remain globally competitive. "We're looking at major economic transition, which is taking place, which gives us very strong grounds to be very positive about the medium and long term outlook," Elhedery said. He suggested that China's economic maturity has reached such a stage that now is the "right time to transition into what more mature economies are."

Persons: Karen Tso, Georges Elhedery, Elhedery Organizations: HSBC, CNBC Locations: Hong Kong, Victoria Harbour, British, China, Beijing, London, Asia, Pacific

☆ ‘World’s coolest’ streets for 2024 named by Time Out
▼ + stars: | 2024-03-13 | by ( Francesca Street | ) edition.cnn.com time to read: +6 min

To produce the 2024 lineup, the global listings guide’s network of editors and writers chipped in to make the case for their favorite streets in their respective cities. High Street’s also great for bar hopping, suggests Time Out, highlighting “intimate and exclusive” rooftop bar Gigi Rooftop and buzzing dance spot Francesca’s Bar. Commerical Drive in Vancouver, Canada is number five on Time Out's list of coolest streets. Rua da Boavista in Lisbon, Portugal is number seven on Time Out's list. High Street, Melbourne2.

Persons: company’s, Leah Glynn, Glynn, ” It’s, Gertrude Street, Melbourne’s omnipresence, ”, Street’s, Marco Finanzio, Gigi, ” Finanzio, “, Ben Mathieson, it’s, ” Matheison, Mathieson, Mo Temple, Kenny Dorham’s, Consell, Rua da, Kathy deWitt, Arnaldo Quintela, Consell de Organizations: CNN, Out, Smith, Casa Nata, CNN Travel, Hollywood, Michelin, East Eleventh, Wine Bar, Rua da Boavista, Bikram, Eleventh Locations: Melbourne, Out Melbourne, Australian, Northcote, Thornbury, Preston, Casa, Francesca’s, Vancouver, Canada, Hong Kong, Mo, Austin , Texas, Barcelona, Spain, Lisbon, Portugal, Bikram Yoga, Guatemala, Buenos Aires, Jalan Petaling, Kuala Lumpur, Tokyo, backstreets, Argentina, Malaysia, Rio de Janeiro, Brazil, Japan

☆ China's champion gymnast Li Ning considers taking company private, sources say
▼ + stars: | 2024-03-12 | by ( ) www.cnbc.com time to read: +1 min

Li Ning, chairman and co-chief executive officer of Li Ning Co., during a news conference in Hong Kong, China, on Friday, March 17, 2023. Chinese billionaire entrepreneur and Olympic champion Li Ning is considering taking his namesake sportswear company private from the Hong Kong stock exchange, four people said, adding to a string of such potential deals in a faltering market. Li, 61, founded Li Ning Co a few years after retiring from a decorated gymnastics career in 1988. The discussions to take Li Ning Co private are in the early stages and details have not been finalized, said the sources, who declined to be identified as the information was confidential. Li Ning made its Hong Kong debut in 2004.

Persons: Li Ning, Li Organizations: Hong, Li Ning Co Ltd, HK, TPG, Hillhouse Investment, Hong Kong, Reuters Locations: Hong Kong, China, Hong

☆ Explainer-How the West Might Use Russia's Frozen Reserves
▼ + stars: | 2024-03-12 | by ( March | At P.M. | ) www.usnews.com time to read: +5 min

Here are some of the ideas that have been suggested:CONFISCATIONSome international policymakers and lawyers say the immobilised Russian reserves can simply be confiscated under a doctrine of international law known as "countermeasures". Some in the bloc are still wary, though, and the European Central Bank has warned that claiming the trapped Russian assets should only be done in tandem with G7 powers. The bondholders would not have a contractual claim on the Kremlin’s frozen reserves. Ukraine would have a plausible way to collect on any damages awarded up to the value of the reserves. If Moscow refused to pay the damages, the allies could then use Russia’s frozen assets to pay off the loan.

Persons: Marc Jones, Lee Buchheit, Daleep Singh, Mark Heinrich Organizations: Marc Jones LONDON, Emergency Economic, U.S, European Central Bank Locations: Ukraine, Russia, Kuwait, United States, EU, Russian, Brussels, Belgium, U.S, Britain, China, Hong Kong, Dubai, Moscow

☆ Vanke: China scrambles to prevent another big property developer going bust
▼ + stars: | 2024-03-12 | by ( Laura He | ) edition.cnn.com time to read: +5 min

Vanke’s stock soared in Hong Kong and Shenzhen following the reports of potential new financing. On Monday, Moody’s cut Vanke’s rating to Ba1, which is often referred to as a junk rating. Residential buildings being built by Vanke in Nanjing STR/AFP/Getty ImagesFounded in 1984 in Shenzhen, Vanke is a flagship company in China’s property sector. It was the first listed property company in mainland China, boasting a high-profile IPO in 1991 on the still-nascent Shenzhen Stock Exchange. In 2023, property sales dropped 6.5% from 2022.

Persons: Moody’s, China Vanke, Vanke, Kaven Tsang, Fitch, Wang Shi, Donald Trump, Refinitiv Eikon, Vanke’s, it’s, —, Ni, ”, ” Nomura Organizations: Hong Kong CNN, Economic Observer, CNN, Getty, Time, Shenzhen Stock Exchange, Shenzhen Metro, National People’s Congress Locations: China, Hong Kong, Beijing, Evergrande, Shenzhen, Nanjing, Vanke

☆ Beijing says property developers in deep trouble must go bankrupt
▼ + stars: | 2024-03-11 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

China's housing minister, Ni Hong, said real-estate developers in serious trouble should be bankrupted and restructured. Analysts suggest Beijing's priority is to ensure delivery of property projects, not to save developers. AdvertisementChina's housing minister said Beijing will not be bailing out the country's distressed property developers. China's real-estate debt crisis has already taken down property giant Evergrande, which is currently undergoing liquidation. "We view the tone on the property sector set at the 'Two Sessions' as negative," they added, referring to China's parliamentary sessions.

Persons: Ni Hong, —, Xi, Li Qiang's, Ni, Jizhou Dong, Riley Jin Organizations: Service, Authorities, Nomura Locations: China, Beijing, Hong Kong

☆ Hong Kong plumber’s Olympic breakdancing dream goes down the toilet
▼ + stars: | 2024-03-11 | by ( Story Reuters | ) edition.cnn.com time to read: +2 min

The 30-year-old, who is also known as ‘Ex,’ finished 52nd at the World DanceSport Federation Olympic qualification event in Hong Kong in December, and 130th globally, putting paid to his chances of performing on the biggest stage of all this summer. If I were to push myself like I did in previous years, I might not even be able to. After being added to the Paris programme in 2020, breaking was dropped for the 2028 Games in Los Angeles. After representing Hong Kong in competitions from Brazil to Japan, Cheung said breaking needed as much exposure as possible to flourish. It’s important for promoting the culture,” said Cheung, who sported tattooed arms and silver tunnel earrings.

Persons: Cheung, ’, ”, “ I’m Organizations: Reuters, Paris Games, World DanceSport, Olympic Locations: Hong Kong, Chung, “, Paris, Los Angeles, Brazil, Japan

☆ He was once hailed as the pride of China. Now nationalists are coming for this Nobel laureate
▼ + stars: | 2024-03-11 | by ( Nectar Gan | ) edition.cnn.com time to read: +9 min

Now, some of China’s most zealous online nationalists have a new target in their crosshairs: the country’s first officially recognized Nobel laureate. Mo Yan receives the 2012 Nobel Literature Prize from King Carl Gustaf of Sweden during an award ceremony on December 10, 2012 in Stockholm. He accused Wu of creating a publicity stunt by “maliciously framing” the Nobel laureate and taking his words out of context. In 2011, he was named the vice chairman of the state-run Chinese Writers Association – an appointment that could not have been made without the blessing of the party. In 2022, Sima Nan, a nationalist pundit known for his inflammatory criticism of the United States, famously accused Mo’s Nobel win of being a Western effort to smear China.

Persons: Hong Kong CNN — They’ve, Mo Yan, Xi Jinping, Xi, Wu Wanzheng, Mao Xinghuo, Wu, Guan Moye, –, Mo, King Carl Gustaf of Sweden, Jonathan Nackstrand, ” Zhang Yongsheng, Hu Xijin, Hu, ”, Murong Xuecun, “ Xi, Mao, Writers Association –, Liu Xiaobo, Liu, caricaturize, “, doesn’t, Sima Nan, Mo’s Nobel, ” Murong Organizations: Hong Kong CNN, Communist Party, Communist, Getty, Red Guards, Tongji University, Global Times, Writers Association, Chinese Writers Association Locations: China, Hong Kong, Mo, Weibo, Stockholm, AFP, Shanghai, Beijing, Shandong, United States

☆ Analysis: China worried about return of Trump, but also sees opportunities if he wins 2024 election
▼ + stars: | 2024-03-10 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +15 min

Then-US President Donald Trump and his wife Melania with Chinese leader Xi Jinping and his wife Peng Liyuan at Beijing's Forbidden City in 2017. “If this decoupling is carried out by Trump 2.0 in a very forceful way, the impact on China is going to be very severe. But experts say China’s business and official sectors are likely already considering contingency plans. Chinese leader Xi Jinping and Russian President Vladimir Putin leave a reception following talks at the Kremlin in March 2023. “Whoever wins – the structure of (US) confrontation, competition, pressure to China are still there,” he said.

Persons: Joe Biden, Xi, Donald Trump, didn’t, –, Biden, Wang Yi, Trump, He’s, Trump’s, Brian Wong, ” Wong, Lintao Zhang, Obama, Melania, “, Xi Jinping, Peng Liyuan, Xie Huanchi, he’s, ”, Bala Ramasamy, Shen Dingli, Premier Li Qiang, Ronald Reagan, “ Biden, Shen, ” Trump, skeptically, Vladimir Putin, Putin, Pavel Byrkin, Wong, it’s, Wang Yiwei Organizations: Beijing CNN —, Communist Party, Biden, Senior, Trump’s “, University of Hong Kong’s, Contemporary, House, oceanside, Trump, of, Forbidden, Huawei, Oxford Economics, China Europe International Business School, Premier, American, South Korea Navy, Asia –, Russia’s, NATO, Europe, Kremlin, Getty, South Korea –, White House, Renmin University Locations: China, Beijing, State, US, Russia, Communist, Contemporary China, Taiwan, Lago, City, Xinhua, Shanghai, Southeast Asia, Latin America, Europe, China's Qingdao Port, –, Asia, Seoul, Tokyo, Ukraine, United States, AFP, Japan, South Korea, America, Washington, Hong Kong, South China

☆ Photographer steps inside Vietnam’s shadowy ‘click farms’
▼ + stars: | 2024-03-08 | by ( Bibek Bhandari | ) edition.cnn.com time to read: +7 min

“With social media, our attention is a product for advertisers and marketers.”Jack Latham’s project took him to five click farms in Vietnam. Though it is unclear when click farms began proliferating, tech experts warned about “virtual gang masters” operating them from low-income countries as early as 2007. In the following decades, click farms exploded in number — particularly in Asia, where they can be found across India, Bangladesh, Indonesia, the Philippines and beyond. The photographer added that TikTok is now the most popular platform at the click farms he visited. He included them in the book to represent the kind of content he saw being boosted by click farms.

Persons: Jack Latham, Vietnam —, ” Latham, Jack Latham’s, Latham, ”, Cambodia’s, Hun Sen, Donald Trump, — Organizations: CNN, Facebook, Twitter, China Advertising Association, “, BBC, Here Locations: Vietnam, Hanoi, Asia, India, Bangladesh, Indonesia, Philippines, China, Silicon, Hong Kong, —, North Macedonia, Vevey, Switzerland

☆ Article 23: Hong Kong unveils its second national security law, aligning city more closely with mainland China
▼ + stars: | 2024-03-08 | by ( Chris Lau | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —Hong Kong’s government unveiled a new suite of powerful national security laws on Friday that critics and foreign governments warn could deepen the ongoing crackdown in the city and further undermine its reputation as an international business hub. They point to the application of national security laws in mainland China as well as in Hong Kong where a Beijing-imposed national security law has already transformed the once outspoken city since 2020, silencing almost all dissent and jailing dozens of political opponents. The new draft Hong Kong law – known locally as Article 23 – is aimed at “filling the loopholes” left by the Beijing-imposed version enacted in 2020, according to the Hong Kong government. But the atmosphere in Hong Kong this time around is very different. Many of the city’s leading pro-democracy figures are in jail either convicted or facing charges under the 2020 national security law.

Persons: ”, Hong Kong’s, –, John Lee –, “ Organizations: Hong Kong CNN, Hong, China’s Communist Party, Chinese Communist Party, Authorities, Security, US Department of State Locations: Hong Kong, China, Beijing, Hong, United States

☆ In post-Covid China, the masks are off, but Xi’s tight control is here to stay
▼ + stars: | 2024-03-07 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +8 min

2 official, who is charged with running its economy – and one more move for Xi to cement his control over the official narrative. China's Premier Li Qiang speaks during a press conference after the closing session of the National People's Congress in Beijing on March 13, 2023. He used his first and likely last press conference last year to highlight the prominence of the Communist Party over the state government. The axing of the premier’s press conference came alongside a shortening of the “two sessions” overall – first imposed during the pandemic to prevent the spread of Covid. Traffic slowed due to checkpoints on surrounding streets, with security officials even stopping and checking IDs of some cyclists riding on a major throughfare along the square.

Persons: Xi Jinping, Xi, ”, Liu Dongshu, Jinping, Li Qiang, Greg Baker, Premier Li Keqiang, Xi protégé Li Qiang, Li, “, ” Li, Liu, ” Changhao Wei, Paul Tsai, presser, Tatan Organizations: Beijing CNN, of, National People’s Congress, City University of Hong, National People's Congress, Premier, Communist Party, Paul Tsai China Center of Yale Law School, National People's, AP, Communist Locations: Beijing, Communist, China, City University of Hong Kong, AFP, Hong Kong, Tiananmen

☆ Fortune REIT CEO discusses Hong Kong's property measures
▼ + stars: | 2024-03-06 | 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 EmailFortune REIT CEO discusses Hong Kong's property measuresJustina Chiu, CEO of Fortune REIT, discusses Hong Kong's property measures, saying the company is excited to see an effort to "foster the growth of the REIT market in Hong Kong."

Persons: Justina Chiu, Fortune REIT Locations: Hong Kong

☆ Get Ready for the Great Trump Diaspora
▼ + stars: | 2024-03-06 | by ( Paul Starobin | ) www.businessinsider.com time to read: +10 min

The Atlantic devoted an entire issue to the authoritarian horrors in store for America "If Trump Wins." AdvertisementA second Trump presidency, Speer said, could serve as a "catalyst" that further fuels the growing diaspora of Americans living in exile. Since 2015, Democrats Abroad, the foreign-based arm of the DNC, has nearly tripled its membership. Since 2015, Democrats Abroad, the foreign-based arm of the Democratic National Committee, has nearly tripled its membership, which now numbers in the hundreds of thousands. My wife and I are both Trump decriers, although we didn't begin our Italy property search to find a refuge from MAGA-infused America.

Persons: specter, Donald Trump —, Trump, Gallup, George W, Bush's, Barack Obama's, Doris Speer, Speer, —, Roe, Wade —, Martha McDevitt, Pugh, Emily, Francophiles, Ernest Hemingway, James Baldwin —, Nicole Kidman's, MAGA, batty, it's, John Galey, Paul Starobin Organizations: Washington Post, Trump, America, Association of Americans Resident Overseas, dodgers, DNC, Democratic National Committee, Leggett, Italy Facebook, Côte, IRS, Citizens Abroad, Los Angeles Times, New Books Network Locations: Umbria, Italy, Montana, Tuscany, Texas, Tennessee, America, Canada, Washington, Paris, United States, Iraq, Europe, Vietnam, Sedona , Arizona, Portugal, Spain, France, United Kingdom, Norway, Netherlands, Hong Kong, Bangkok, Buenos Aires, Golden, California, MAGA

☆ More Chinese Women Choosing Singledom as Economy Stutters
▼ + stars: | 2024-03-06 | by ( March | At P.M. | ) www.usnews.com time to read: +6 min

Chinese Premier Li Qiang also vowed to "work towards a birth-friendly society" and boost childcare services in this year's government work report. In Shanghai, this figure reached 30.6 for men and 29.2 for women last year, according to city statistics. Long-term single lifestyles are gradually becoming more widespread in China, giving rise to online communities of mostly single women who seek solidarity from like-minded people. Decades of the one-child policy have led to 32.3 million more men than women in 2022, according to official data. "Well-educated women in search of supportive life partners find fewer suitable men who also endorse women's rights."

Persons: Laurie Chen XIAN, Chai Wanrou, didn't, Xi Jinping, Li Qiang, stigmatised, influencers, China's Instagram, Liao Yueyi, I've, Xiaoling Shu, Davis, Shu, Laurie Chen, Farah Master, Miral Fahmy Organizations: Reuters, Communist Party, Communist Youth League, University of California Locations: China, Xian, Shanghai, United States, Xiaohongshu, Nanning, Hong Kong

The work report presented Tuesday by Premier Li Qiang to the National People’s Congress outlined plans for modest increases in overall spending and a hefty 7.2% jump in funding for the military. Li's work report is designed to showcase for the nation achievements in the past year and convey the top leadership's priorities for this year. Photos You Should See View All 60 ImagesApart from the ambitious growth target, “There is no reform, no liberalization, no action plan and no messaging of reassurance,” he said. — Another 10.4 billion yuan ($1.4 billion) will go to upgrading industries and modernizing manufacturing. “We will work to build China's self-reliance and strength in science and technology,” the report said.

Persons: it’s, Premier Li Qiang, Li, Xi Jinping's, James Zimmerman, ”, Tianchen Xu, What's, —, Xu, ” Lynn Song Organizations: BEIJING, Premier, National People’s, Communist, American Chamber of Commerce, Economist Intelligence Unit, Baidu, Greater China, ING Economics, — Locations: China, Beijing, Washington, Hong Kong, Greater

☆ Hong Kong shoppers are crossing the border into Shenzhen to buy croissants and rotisserie chickens at China's newest Costco
▼ + stars: | 2024-03-05 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +4 min

The store's popularity is driven by Hong Kong residents crossing the border to shop in mainland China. Xinhua News AgencyLarge bulk stores are a rarity in Hong Kong due to the city's limited space and expensive culture. AdvertisementHong Kong's economic struggles, however, have created the perfect circumstances for Shenzhen Costco to thrive. Costco has organized several shuttle buses each day that run between the Shenzhen store and Hong Kong, according to a company spokesperson. Costco is also partnering with cross-border delivery companies that pack and ship items purchased by Hong Kong residents.

Persons: — Organizations: Costco, Service, Xinhua, Agency, Hong, Shenzhen Costco, Bloomberg, Tencent Holdings, Pay Locations: Shenzhen, China, Hong Kong, Costco, Guangdong Province, Guangdong Province of China, Taiwan

☆ China EV shares are feeling the heat as price war concerns grow
▼ + stars: | 2024-03-05 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +3 min

While consumer interest is improving, the "wait for a better price" sentiment continues to constrain sales volumes for EV makers, Ding said. watch nowAt least 30% of China's entire auto market is made up of electric vehicles, with most of those EVs coming from homegrown brands. Hong Kong-listed shares of Li Auto fell 3.9%, while Nio shares dropped 3.6% and Xpeng was down 1.8%. BYD shares were up 0.4%. Despite price cuts announced earlier, Tesla still lost market share in China in January, mainly in the large cities, according to Morgan Stanley.

Persons: Tesla, Yuqian Ding, Ding, Xpeng, Morgan Stanley, Li, Li Auto, SCMP, Zhu Jiangming, Nio, BYD, Bernstein Organizations: Getty, HSBC Qianhai, CNBC, Li Auto, China Morning, Reuters Locations: Hong Kong, China, Stellantis

☆ Red Sea cables have been damaged, disrupting global internet traffic
▼ + stars: | 2024-03-04 | by ( Hanna Ziady | ) edition.cnn.com time to read: +1 min

London CNN —Damage to undersea cables in the Red Sea is disrupting global telecommunications networks and forcing internet providers to reroute as much as a quarter of traffic between Asia, Europe and the Middle East. Cables belonging to four major telecoms networks have been “cut” causing “significant” disruption to communications networks in the Middle East, according to Hong Kong telecoms company HGC Global Communications. HGC estimates that 25% of traffic between Asia and Europe as well the Middle East has been impacted, it said in a statement Monday. Among the networks affected is the Europe India Gateway, spanning 15,000 kilometers (9,320 miles) between Europe, the Middle East and India. Asia-Africa-Europe, a 25,000-kilometer cable system connecting South East Asia to Europe via Egypt, has also been damaged.

Persons: ” HGC, Abdel Malek al, Houthi, Wayne Chang, Celine Alkhaldi, Alex Stambaugh Organizations: London CNN, Cables, HGC Global Communications, Globes Locations: Asia, Europe, Hong Kong, Iranian, Red, Europe India, East, India, Africa, South East Asia, Egypt, Taipei, Abu Dhabi

☆ Anthony Kim finishes last on first pro start in 12 years at LIV Golf event
▼ + stars: | 2024-03-04 | by ( Jack Bantock | ) edition.cnn.com time to read: +3 min

CNN —Anthony Kim said he was “encouraged” after finishing last in his first professional appearance in 12 years at LIV Golf’s third event of the season in Saudi Arabia on Sunday. I’m doing things that I used to do before. I’m just looking forward to a great year.”Kim struck his first shot at a pro event since 2012 on Friday. I’m doing a lot of things well,” Kim said. I want to feel and I want to think I’m the best all the time,” he told reporters Sunday.

Persons: CNN — Anthony Kim, “, ”, LIV Golf’s, Joaquin Niemann, Kim, ” Kim, I’m, Chris Trotman, LIV, “ I’m, Niemann, Louis Oosthuizen, Schwartzel, Charles Laberge, LIV Golf, – Organizations: CNN, Sunday, Royal Greens, Country Club, PGA Tour, European, Augusta National Locations: Saudi Arabia, Jeddah, Saudi, Hong Kong, Mexico

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