(Bloomberg) — Chinese companies are expected to scoop up discounted Russian oil should sanctions deter other buyers, traders said, potentially repeating a pattern seen when Iran and Venezuela were hit by U.S. curbs. Importers in the top oil user are likely to take advantage of the opportunity to build up stockpiles on the cheap, they […]
Read More(Bloomberg) — China National Offshore Oil Corp. struck $13 billion worth of deals to boost oil and gas supply, as the country aims to avoid a repeat of last year’s energy crunch. The nation’s biggest offshore oil and gas driller has signed agreements with a dozen international firms, according to a statement Wednesday. That includes […]
Read More(Bloomberg) — JPMorgan Asset Management’s Gabriela Santos says portfolio managers will be pushed harder to outperform in increasingly volatile markets, and investing in China will give them an edge. “Volatility is going to stay higher for longer,” the firm’s global market strategist told Bloomberg TV’s Surveillance on Tuesday. “China is a really important piece of […]
Read More(Bloomberg) — Oil prices, already up around 20% this year, could be boosted by China potentially replenishing its inventories and financial investors increasing their long positions, according to Vitol Group. The world’s biggest independent oil trader said there’s a chance China looks to build up stockpiles following the Lunar New Year holiday. “I think it’s […]
Read More(Bloomberg) — China’s equity benchmark slid into a bear market while the yuan tumbled the most in seven months, as the Federal Reserve’s hawkish comments added to investor concerns over the nation’s regulatory headwinds. The CSI 300 Index closed 2% lower on Thursday, taking losses from a peak in February to more than 20%. The […]
Read More(Bloomberg) — The firebreak between mounting economic threats and a continuation in the global recovery: an imposing concrete and glass structure in the heart of Beijing’s financial district, elephant statues guarding the door, the Chinese flag flying above. That’s the headquarters of the People’s Bank of China which, in contrast with the U.S. Federal Reserve, […]
Read More(Bloomberg) — On the surface, the recent land auction by the Chinese city of Rizhao appeared routine. There were four bids, pushing the price up 11% to $170 million. A closer look reveals something curious: The offers were reportedly made by a finance entity owned by the Rizhao government, meaning the city effectively sold land […]
Read More(Bloomberg) — Bridgewater Associates founder Ray Dalio said there’s a “reasonable chance” neither major U.S. political party will accept the results of the 2024 election. “There is a worry that one should have about the divisiveness and what it means for each other,” Dalio said Monday during a wide-ranging interview for “The David Rubenstein Show: […]
Read More(Bloomberg) — The team leader for quantitative stocks trading at China’s $1.2 trillion sovereign wealth fund has resigned, joining a growing list of departures among the firm’s investing professionals, according to people familiar with the matter. Zhang Rong, a director in China Investment Corp.’s public equities department, submitted her resignation in December to seek other […]
Read More(Bloomberg) — For any government, overhauling a nationwide residential real estate market would be risky under the best of circumstances. Chinese President Xi Jinping is attempting it at a time when the economy is slowing, omicron is threatening his zero-Covid policy and relations with the outside world are increasingly fraught. As that perilous combination takes […]
Read More(Bloomberg) — It was once hailed as the future of Chinese banking, a privately run lender that would mint money by outmaneuvering its state-owned rivals. An ill-fated push into property lending has instead turned China Minsheng Banking Corp. into one of the biggest casualties of the real estate debt crisis that’s roiling Asia’s largest economy. […]
Read More(Bloomberg) — China has unveiled sweeping regulations governing overseas share sales by the country’s firms, taking one of its biggest steps to tighten scrutiny on international debuts in the wake of Didi Global Inc.’s controversial listing. The regulations, issued by the country’s securities watchdog, commerce ministry and top economic planning agency over the past week, […]
Read More(Bloomberg) — China’s battered stocks present a buying opportunity, as most of the headwinds facing the country’s economy are now priced in, according to Goldman Sachs Group Inc. “Although risks around the Chinese growth outlook remain due to the zero-tolerance Covid-19 policies and regulatory tightening, Chinese equity markets already reflect some of those risks, offer […]
Read MoreWell before the current chip supply chain crunch, Beijing has been trying to build out a local supply chain for semiconductors—its biggest import item. Tens of billions of dollars of government support (pdf, p. 9) later, China’s chip processing ability is still at least a decade behind the most advanced players. And some of its semiconductor […]
Read More(Bloomberg) — Chinese tech shares were headed for record lows in Hong Kong, as Didi Global Inc.’s announcement to start U.S. delisting and rising scrutiny on mainland firms traded there dealt a further blow to already soured sentiment. The Hang Seng Tech Index, which tracks mostly big Chinese technology giants traded in Hong Kong, dropped […]
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