China’s mega banks are boasting higher profits, but investors still aren’t buying their stocks

China’s mega banks are boasting higher profits, but investors still aren’t buying their stocks

The latest earnings reports from China’s big four banks showed improvements across key financial metrics, but some investors remain worried that things could get worse for lenders in the world’s second-largest economy. Such concerns arose after the country’s central bank, the People’s Bank of China, made several moves to loosen monetary conditions as economic growth slows and as trade tensions with the U.S. worsen. That made investors fear that Chinese authorities may abandon plans to…

Read More

Trade expert outlines what’s next in the US-China tariff battle

Trade expert outlines what’s next in the US-China tariff battle

With U.S. President Donald Trump not backing down from a trade dispute with China, the world is now awaiting his decision on when and how he’ll implement a proposed $200 billion in additional tariffs on Chinese goods. The most likely scenario is that the Trump administration will break up the $200 billion tariffs into batches, according to a trade expert from libertarian think tank Cato Institute. “Remember the previous stage when they authorized $50 billion…

Read More

Global trade tensions are likely to get even worse after the US midterms, expert says

Global trade tensions are likely to get even worse after the US midterms, expert says

Washington is going to lose the ability to get anything done if the Democrats seize control of the House during the midterms, and the situation on trade will only get worse, not better, according to businessman and trade expert Steven Okun. “The midterms aren’t going to change anything. If anything, it’s going to get worse after the midterms, because you have now for example the (North American Free Trade Agreement) negotiations,” Okun, senior advisor at…

Read More

Japan’s trade with China is booming, but irreconcilable differences persist

Japan’s trade with China is booming, but irreconcilable differences persist

On the face of it, the idea of hostility between the two East Asian neighbors is sharply at odds with excellent trade numbers and Japan’s unrelenting efforts to keep open the bilateral flows of commerce and finance. Here is the latest: The Japanese sold to China 35.2 percent of all the goods they dumped on the rest of Asia in the first seven months of this year. And that was a 10.6 percent increase from…

Read More

Another weak data point shows China’s economy is ‘now facing relatively obvious downward pressure’

Another weak data point shows China’s economy is ‘now facing relatively obvious downward pressure’

A private manufacturing survey hit a 14-month low in August as the Caixin/Markit Purchasing Manager’s Index (PMI) came in at 50.6 — the weakest since June 2017. Although output continued to expand, new orders rose at their slowest pace since May 2017, said Caixin and Markit in a joint press release. In particular, export sales fell for the fifth straight month. Overall confidence was low in August, “with a number of panelists citing concerns over…

Read More

Brexit could sway Scottish voters toward independence from UK, poll finds

Brexit could sway Scottish voters toward independence from UK, poll finds

Britain’s exit from the European Union could tip public opinion in Scotland in favor of seeking independence, an opinion poll showed on Sunday. Scotland voted against independence in 2014, but a subsequent referendum on leaving the EU has reignited debate over its long-term future as one of Britain’s four constituent parts alongside England, Wales, and Northern Ireland. In 2016, a majority of Scottish voters backed staying in the EU, while Britain as a whole, voted…

Read More

Chinese investors expect a turnaround in the beaten-down stock market, survey shows

Chinese investors expect a turnaround in the beaten-down stock market, survey shows

A majority of mainland Chinese investors expect the battered local stock market to rise over the next 12 months, according to a J.P. Morgan Asset Management survey released Monday. The Shanghai composite is one of the worst performing stock indexes in the world this year. In June, the index fell 20 percent from a recent high, or into bear market territory. It remains more than 15 percent lower for 2018, hit by investors’ worries about…

Read More

Asia markets mixed on first trading day of September after US and Canada fail to reach trade deal

Asia markets mixed on first trading day of September after US and Canada fail to reach trade deal

Asia markets were mixed in Monday morning trade after Canada and the U.S. failed to come to a trade agreement on Friday. Japan’s Nikkei 225 traded in negative territory in early trade, down by 0.39 percent as most of its major sectors were lower. South Korea’s Kospi was also lower by 0.23 percent. In Australia, however, the ASX 200 traded up by 0.12 percent with the heavily weighted financials sector largely flat. Over on Wall…

Read More

Asia markets down on first trading day of September on further trade worries

Asia markets down on first trading day of September on further trade worries

Asia markets were largely negative in Monday morning trade, with Canada and the U.S. failing to come to a trade agreement on Friday, and worries on further escalation in the U.S.-China trade war. Japan’s Nikkei 225 traded in negative territory in the morning, down by 0.39 percent as most of its major sectors were lower. South Korea’s Kospi extended its losses to trade lower by 0.54 percent. In Australia, the ASX 200 pared some of…

Read More

Facebook says social video watching will set it apart from Netflix and YouTube

Facebook says social video watching will set it apart from Netflix and YouTube

Facebook may be a latecomer to the streaming video market, but the company thinks it can generate money by making it more social. “Video has always been social, even before the internet, when everybody was watching the same few channels,” said Fidji Simo, Facebook’s head of video, in an interview. “Everyone was talking about their favorite shows around the water cooler.” For Facebook, the challenge is not to mimic Netflix or YouTube, which have built…

Read More
1 748 749 750 751 752 1,678