China’s President Xi Jinping wants a “powerful currency” that is stable enough to play a rising role in global trade. Donald Trump’s return looks set to challenge that ambition. The yuan risks years of downward pressure during the second Trump presidency, and the threat of another trade war is already fueling bets against the currency….
Asian equities climbed, aided by signs of a stabilization in China’s economy and a retreat in the dollar. Shares in Hong Kong and Australia advanced following data that showed China recorded the highest retail sales growth in eight months. Japanese benchmarks gained about 0.8%, supported by weakness in the yen. US contracts slipped. A gauge…
Russia’s government is reducing payments made to soldiers suffering lesser injuries in the war on Ukraine as the costs of the invasion pile up. Following an order from President Vladimir Putin to review the payouts, the government introduced a three-tier scale with compensation depending on the level of injury, according to a decree signed Wednesday….
For the first time on Thursday, Hong Kong’s stock exchange will keep its markets open through severe weather. The Hong Kong Observatory saidBloomberg Terminal it will issue a so-called Typhoon Signal 8, the third highest, at 11:10 p.m. local time Wednesday as tropical storm Toraji is edging closer to the Pearl River Estuary and local…
Donald Trump’s election victory has catapulted US stocks to fresh records and pushed the dollar to a two-year high. It’s anything but good news for the rest of the world. Equities excluding the US are tumbling, with an MSCI gauge capping its worst day since the Aug. 5 global rout. An index of developing-market currencies…
Treasury yields climbed and the dollar hit a two-year high ahead of key inflation data that could further sap confidence in the pace of Federal Reserve interest-rate cuts. Stocks in Asia are set to open lower after a breakneck US rally ran out of steam. Source link
Chinese authorities banned a popular blogger known for his strong anti-Western comments, according to the South China Morning Post. Sima Nan, who has more than 3 million followers on China’s social media site Weibo, has been banned across different platforms for a year, according to the paper, which cited two unidentified sources. Sima last posted…
Russian President Vladimir Putin congratulated Donald Trump on his recent victory in the US presidential election. “I would like to take the opportunity to congratulate him on his election as president of the US,” Putin said on Thursday at the annual Valdai Discussion Club in the Black Sea city of Sochi. “I have already said…
China’s luxury market may recover in the next 24 months as the country’s economy bounces back, Bulgari Chief Executive Officer Jean-Christophe Babin said. The LVMH-owned jeweler has seen a more visible downturn this year in China at its brick-and-mortar stores versus online channels that can reach more customers including those in smaller cities, Babin added…
Myanmar’s ethnic groups fighting to oust the junta criticized China for hosting military chief Min Aung Hlaing in the country this week, and said India has reached out for talks with the shadow government and some armed rebels. The National Unity Government and ethnic armed groups held a joint virtual press conference on Tuesday, where…