China trade surplus with the U.S. rises to monthly record in September
China reported disappointing growth in imports in September, while exports beat expectations, according to data released Wednesday by the customs agency.
Financial News
China isn’t the only huge Asian economy with a coal shortage now
Most of India’s coal-fired power plants have critically low levels of coal inventory just as the economy is picking up and fueling electricity demand.
China tech stocks surge after food delivery giant Meituan is hit with $534 million antitrust fine
Analysts said the antitrust fine has removed an “overhang” over food delivery giant Meituan and the company’s shares rallied more than 7% in Hong Kong trade.
World leaders reach landmark deal on a global corporate tax rate
The Organization for Economic Cooperation and Development on Friday announced a major breakthrough over corporate tax rates, after years of disagreement.
Nordic countries are restricting the use of Moderna’s Covid vaccine. Here’s why
Finland, Denmark and Sweden are limiting the use of Moderna’s Covid-19 vaccine in young people over concerns around rare cardiovascular side effects.
Stuck in China, consumers are spending millions for luxury goods in Hainan
Chinese consumers opened their wallets to shop during the week-long National Day holiday that ended Thursday, even as travel numbers fell.
Hong Kong’s Hang Seng jumps more than 2% as major Asia-Pacific indexes rise at least 1%
By Thursday afternoon in Hong Kong, the Hang Seng index was up 2.41%.
U.S. faces a recession if Congress doesn’t address the debt limit within 2 weeks, Yellen says
Treasury Secretary Janet Yellen believes the economy would fall into a recession if Congress fails to raise the debt ceiling before a default on the U.S. debt.
Chinese developer misses bond payment as stress spreads beyond Evergrande crisis
There are increasing signs of stress in China’s property market after ratings agencies downgraded Fantasia and Sinic over debt concerns.
Hong Kong’s Hang Seng index drops 2% amid Evergrande trading halt
Trading in the Hong Kong-listed shares of China Evergrande Group as well as Evergrande Property Services was halted on Monday.