From 34m ago Introduction: China’s economy expands at slowest pace in a year Good morning, and welcome to our rolling coverage of business, the financial markets, and the world economy. Growth across China’s economy has slowed to its lowest level in a year, as the trade war with the US has dampened activity. China’s GDP expanded by 4.8% year-on-year in the July-September quarter, new data from the National Bureau of Statistics (NBS) shows shows, broadly matching expectations. That’s a slowdown from the second quarter of the year, when GDP rose…
Tag: Stock markets
Markets rebound amid latest US-China tariff spat as traders look to possible ‘Taco trade’
Global stock markets have edged higher and cryptocurrencies rebounded amid signs that a new front in the US-China trade war may not be as severe as first feared. Tensions between Washington and Beijing escalated again on Friday and over the weekend, as Donald Trump threatened to impose additional US tariffs of 100% on China starting next month. The US president accused the country of “very hostile” moves to restrict exports of rare-earth minerals needed for American industry. Beijing said it would retaliate if Trump did not back down. However, Trump…
Asian stocks tumble on fresh US-China trade spat; Chinese exports top forecasts – business live
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The IMF boss is right to say ‘buckle up’ – the global economy is facing multiple menaces
Little more than 48 hours passed last week between a warning from the IMF chief, Kristalina Georgieva, that “uncertainty is the new normal” and Donald Trump’s latest tariff onslaught – this time aimed at China. Markets plunged on Friday after Trump threatened to levy punitive additional tariffs of 100% on Chinese goods in retaliation for Beijing’s blocks on exports of rare earth minerals. The world’s finance ministers and central bankers will meet in Washington this week for the annual meetings of the IMF and World Bank. In her curtain-raiser speech…
Trump’s China trade truce extension spurs market rally
Donald Trump’s decision to extend a truce in the trade war with China has triggered a stock market rally across the globe. On Monday night, the US president signed an executive order extending the deadline for higher tariffs on China until 10 November. Beijing said early on Tuesday it would suspend additional tariffs on US goods for a further 90 days. In response, markets in Japan and Australia hit record highs on Tuesday, as expectations grow that the US and China could secure a trade agreement before the end of…
China’s factory activity hit by tariffs; KKR pulls out of Thames Water rescue talks – business live
From 16m ago Introduction: China’s May factory activity shrinks as tariffs hit demand Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. Evidence is mounting that Donald Trump’s trade war is disrupting manufacturing activity around the globe. China’s manufacturing activity in May shrank at its fastest pace in two and a half years, according to the latest survey data, as firms were hit by a fall in new orders, and weaker export demand. The Caixin/S&P Global manufacturing purchasing managers’ index, released this…
Tech shares climb after strong Nvidia results despite warning over rise of Chinese rivals
Technology shares climbed on Thursday, buoyed by strong results from Nvidia, despite the AI chip company’s boss issuing a warning about the rise of Chinese rivals. The Stoxx Europe tech index rose by 0.8% on Thursday following Nvidia’s financial report, with the Dutch semiconductor equipment maker ASML rallying by 2.4%. In the US, futures for the tech-focused Nasdaq climbed 2%, and shares in Nvidia itself jumped 6% in pre-market trading. The boost to tech and artificial intelligence stocks came hours after Nvidia beat Wall Street forecasts, with quarterly revenues jumping…
Shein turns to Hong Kong for flotation as London attempt stalls, reports say
Shein is reportedly aiming to list on the Hong Kong stock exchange as the online fast-fashion retailer struggles to gain the go-ahead from Chinese regulators for a flotation in London. The company, which was founded in China where the majority of its suppliers are based but now has its headquarters in Singapore, is aiming to file a draft prospectus with Hong Kong’s stock exchange in the coming weeks, according to Reuters. It said Shein plans to go public in the Asian financial hub this year, which would scotch hopes of…
China and Australia cut interest rates; Greggs sales improve as Mac and Cheese goes viral – business live
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China criticises UK-US trade deal; Aviva’s £3.7bn acquisition of Direct Line faces competition probe – business live
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