Hong Kong’s two power companies have unveiled relief measures worth more than HK$310 million (US$39.8 million) for consumers before a meeting in the legislature to discuss their prices, with some initiatives aimed at low-income households and NGOs. CLP Power said on Friday it would spend HK$240 million on 12 initiatives launching next year, including a…
HONG KONG (AP) — Asian stocks fell on Monday, led by a more than 2% drop in Hong Kong’s Hang Seng index, as China’s stimulus package disappointed investor expectations. China on Friday approved a 6 trillion yuan ($839 billion) plan during a national legislature meeting. The long-anticipated stimulus is designed to help local governments refinance…
HONG KONG — Asian stocks were mixed on Friday as Chinese markets declined as investors await a key briefing about the details of the upcoming stimulus plan this weekend. U.S. futures rose while oil prices were lower. Chinese stocks fell in morning trading on Friday. The Shanghai Composite lost 1.6% to 3,249.14, and the CSI…
TOKYO (AP) — Shares soared Tuesday in Shanghai as Chinese markets reopened after a weeklong holiday but then gave up a chunk of their initial gains as the details of Beijing’s plans to revive the world’s second-largest economy appeared to fall flat. The Shanghai Composite index was up 3.1% at 3,438.16, though in Shenzhen, Japan’s…
Electric vehicle (EV) dealers did brisk sales on the mainland during the “golden week” holiday, with the soon-to-end government subsidies pushing buyers to hasten their decisions. However, market observers warned of a slowdown in EV sales if the incentives are scrapped next year, just as they did in January 2023 when the subsidies were phased…
Text size The World Trade Organization agreed Monday to establish an expert panel to examine US subsidies for electric vehicles after Beijing accused Washington of unfair competition. The United States slammed China’s complaint, insisting the country was seeking “to distract from its own non-market policies and practices that undermine a fair, competitive, and mutually beneficial…