HONG KONG
Chinese ecommerce giant JD. com sales rise after costly food delivery push
JD.com recorded a jump in first-quarter revenue Tuesday, as the Chinese e-commerce giant makes a costly push to establish itself in the country's highly competitive food delivery sector. China's top market supervisor said Tuesday evening that it has in recent days summoned top food delivery providers including JD.com, Meituan and Ele.me for talks, urging them to abide by ecommerce laws.
Chinese defence stocks tumble up to 9% as India-Pakistan ceasefire douses war bets
Chinese defence stocks tumbled up to 9% after a surprise India-Pakistan ceasefire defused expectations of a prolonged conflict. The sell-off followed a sharp rally driven by hopes of increased Chinese arms exports to Pakistan. As war fears eased, investors unwound bets tied to China's military suppliers, including AVIC and Zhuzhou Hongda, which had surged on conflict-driven speculation.
Stocks rise across Asia on US-China trade truce
Shares in Australia and Japan jumped at the open after the S&P 500 closed more than 3% higher. Japan’s Topix gained for a 13th day, putting it on track for it longest winning streak in 16 years. A gauge of US-listed Chinese stocks surged 5.4% on Monday in its best session in over two months. The dollar was little changed in Asia after jumping Monday.
Foreign oil firms may get overseas arbitration option
India's oil ministry is framing new exploration rules. Future contracts will require Indian oil firms to resolve disputes in India through arbitration. Foreign companies can opt for overseas arbitration. This move aims to protect foreign investments. It also insulates the arbitration process from domestic influence. The new contracts will offer foreign players several arbitration venues.
Wall St futures soar after US-China agree to pause most of their sharp tariff increases
U.S. futures surged Monday after the U.S. and China announced they were suspending for 90 days most of the sharp tariff hikes each has imposed since U.S. President Donald Trump began escalating his trade war.
China stocks rally, yuan gains after U.S.-China reach trade deal
Chinese stocks rallied and the yuan strengthened on Monday after the United States and China said they have agreed to a deal to slash reciprocal tariffs in a substantial de-escalation of a potentially damaging trade war.
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Will NaBFID successfully navigate offshore bond market?
The last time an Indian public sector entity tapped the dollar bond market was in September 2024, when power sector financier REC raised $500 million at 4.75%. This was purely a non-deal roadshow, one person said. "NaBFID is testing waters and may not immediately raise funds
Dollar eyes weekly rise into US-China trade talks
The dollar saw a weekly increase against major currencies. This happened as a U.S.-UK trade agreement boosted hopes for U.S.-China talks. Financial markets are watching trade negotiations between Washington and Beijing. The Federal Reserve indicated no immediate rate cuts. Bitcoin surged above $100,000. Trump announced the UK deal and expects negotiations with China. The Australian and New Zealand dollars fell.
China defence stocks jump up to 36% amid India-Pakistan tensions after Operation Sindoor
The Chinese defense firm responsible for producing the J-17 and J-10C fighter jets has experienced a significant rise in its stock value. Pakistan’s Air Force operates the J-10 Vigorous Dragon and JF-17 Thunder, both manufactured by AVIC Chengdu Aircraft, a subsidiary of the state-owned AVIC group in China.
Trump finds a ‘very good idea’ to raise imprisoned Jimmy Lai’s case in trade talks with China
US, China trade talks: Donald Trump plans to discuss Jimmy Lai's case during trade negotiations with China. This move could potentially strain relations between the two countries. Jimmy Lai, a Hong Kong media tycoon and pro-democracy advocate, faces national security charges. He is accused of colluding with foreign forces. A verdict in his case is expected soon.
Hong Kong works on image overhaul to attract overseas visitors
Hong Kong is actively working to revive its global image and reestablish itself as a major Asian events hub after years of political unrest, strict COVID measures, and a drop in tourism. Efforts include modernizing transport, enhancing digital payment systems, and investing heavily in major cultural and sports events, especially at the new 50,000-seat Kai Tak Stadium.
D-Street shows resilience amid geopolitical tensions; Sensex, Nifty end marginally higher
Both indices had fallen by over 0.6% earlier in the day after Indian armed forces carried out strikes in Pakistan and PoK. Pakistan's main stock index tumbled 3% after the attack.
US, Chinese stocks up before trade talks, Fed move
US and Chinese stocks experienced gains amid anticipation for US-China trade discussions and the Federal Reserve's interest-rate decision. European markets showed caution, while geopolitical tensions impacted Pakistan's stock market. Disney's shares surged following positive sales figures, while pharmaceutical stocks faced challenges due to regulatory changes and revised forecasts.
China stock market: Shanghai, Hong Kong show gains as investors eye crucial trade deal with USA
China's government bond yields showed mixed reactions to the rate decision. One-year bond yield dropped 1.45 bps, while the 10-year yield rose 2 bps.
Uber partners with China's Pony AI to deploy self-driving taxis in key Middle East market
Uber is partnering with China’s Pony AI to deploy robotaxis, starting in the Middle East later this year. The move strengthens Uber’s position in autonomous mobility, following deals with May Mobility, Momenta, and Waymo, amid rising global competition in the robotaxi market.
'Asian crisis in reverse' as currencies soar on the dollar
A wave of dollar selling in Asia is an ominous sign for the greenback as the world's export powerhouse starts to question a decades-long trend of investing its big trade surpluses in U.S. assets.
'Bombshell' OPEC+ output hike hits oil price
Oil prices fell due to increased production by OPEC+ members. Asian stocks showed mixed performance with major markets closed. Saudi Arabia and Russia are among those increasing output. Concerns about oversupply and a potential global economic slowdown are impacting the market. Wall Street had a strong week, while European markets also saw gains.
Dollar recovers some losses, stocks gain as traders eye tariff deals
The dollar rose in Asia on Tuesday fuelled by hopes for trade deals to avert Donald Trump's sweeping tariffs, while equities mostly rose as investors await the Federal Reserve's latest policy decision. Equities mostly rose, with Hong Kong and Shanghai leading the way as investors returned from a long weekend.
Dollar restrained by surge in Asian counterparts
The dollar faced challenges. Taiwan's currency saw a significant rise. This impacted other regional currencies. Hong Kong's central bank intervened to maintain its currency peg. Investors are watching for developments in US-China trade talks. The market is considering the possibility of currency appreciation as part of trade negotiations. Other currencies like the Australian dollar and yen also experienced changes.
Dollar gains after two-day drop, US stock futures dip
A gauge of the dollar rose 0.3% after declining Monday as speculation around potential trade deals sparked an extraordinary spike in Taiwan’s dollar and resonated across global foreign exchange markets. The MSCI Emerging Markets Currency Index rose 0.6% to a record. US stock futures edged lower after the S&P 500 halted its longest rally in about 20 years. There’s no cash trading in Treasuries during the Asian day as Japan is closed for a holiday.
Oil slumps after OPEC+ plan, US stock futures drop
Crude oil fell 3.4% after the group of oil-producing nations continued an accelerated revival of supply that’s sent prices plunging. US equity-index futures dropped 0.5%, extending their decline after US President Donald Trump said he had no plans to talk to his Chinese counterpart this week. There’s no cash trading in Treasuries during the Asian day as Japan is closed for a holiday, along with markets in Hong Kong and mainland China.
China's Ant Group plans to list overseas unit in Hong Kong, report says
Ant was founded by billionaire Jack Ma and is 33% controlled by Alibaba. It operates China's ubiquitous mobile payments app Alipay. Chinese authorities pulled the plug on Ant's $37 billion IPO in Shanghai and Hong Kong in 2020 and cracked down on Ma's business empire soon after his speech in Shanghai in October that year accusing financial watchdogs of stifling innovation.
China's Ant Group plans to list overseas unit in Hong Kong: Report
Ant Group, affiliated with Alibaba, is reportedly planning to list its overseas arm, Ant International, on the Hong Kong stock exchange. The company is communicating with regulators regarding the potential listing, registered in Singapore. This move comes after a previous IPO attempt was halted in 2020, followed by a restructuring and fine imposed by Chinese regulators.
EV, tech shares lift HK stocks to one-month high as trade concerns ease
Hong Kong stocks climbed to nearly a one-month high on Friday as signs of easing Sino-U.S. trade tensions comforted investors, while electronic vehicle (EV) makers rallied on strong sales.
De minimis ends: Consumers to pay the price as Trump kills 'big scam' that helped China's Shein, Temu
De minimis US-China tariff: The US has ended the de minimis exception, imposing tariffs on small packages from China and Hong Kong, a move criticized by Trump as a "big scam." This decision is expected to raise prices for American consumers buying from platforms like Temu and Shein, and impact independent online sellers.
Cheap parcels from China will no longer be duty-free. Here's what it means for buyers and sellers
The Trump administration's termination of the de minimis rule on low-value imports from China is set to cause higher prices and delivery delays for consumers. Businesses reliant on Chinese sourcing must adapt, while U.S. manufacturers may benefit from reduced competition.
China stocks inch lower, Hong Kong up slightly as investors assess tariff impact
China stocks fell slightly on Tuesday, while Hong Kong shares edged up as investors refrained from making big bets until there is more clarity on U.S. tariff plans and their impact on the Chinese economy.
Hong Kong listings show market active as tariff turmoil slows other regions
Hong Kong's equity markets remain active despite global trade tensions. Two companies are set to launch stock listings. They aim to raise a combined $270 million. Hainan Drinda New Energy Technology seeks up to $234 million. Auntea Jenny, a tea drinks company, plans to raise up to $35 million. These deals proceed even as the Hang Seng Index experiences fluctuations.
China, Hong Kong stocks register second week of gains on tariff relief
China and Hong Kong stocks edged up on Friday, registering their second consecutive weekly gains, as the U.S. and China both softened their attitudes towards a full-on trade war to investors' relief.
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