ASIA: Asian markets have a very volatile day today. The surge in Covid-19 numbers globally has raised concerns worldwide. Indian markets fell in line with other major Asian markets. Nikkei in Japan, Hang Seng in Hong Kong, and Shanghai Composite in China fell between 0.5 percent and 1 percent on Monday. The continuing rise in […]

ASIA: International Monetary Fund (IMF) chief economist Gita Gopinath has said its 2021 GDP numbers for India were locked on March 5, around the same time the country started seeing an upsurge in Covid-19 cases and that there could be a downward risk if the country goes for a nationwide lockdown. The IMF this week […]

ASIA: According to a study, some 75% of the world’s bitcoin mining is done in China. The reason given for this in the report is cheap electricity and relatively easy access to manufacturers who make specialized hardware. As a result, the nation’s bitcoin carbon footprint is as big as one of its ten largest cities, […]

ASIA: The International Monetary Fund (IMF) raised its FY22 growth forecast for India to 12.5% from 11.5% estimated earlier in January, even as a resurgent Covid spread threatens to undermine the country’s economic recovery. The Washington-based global financial institution, in its annual World Economic Outlook ahead of the annual Spring meeting with the World Bank, […]

ASIA: China’s factory activity in March expanded at the slowest pace in almost a year on softer overall domestic demand, but underlying economic conditions remained positive even as input and output inflationary pressures intensified for manufacturers. The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) dropped to 50.6 last month — the lowest level since April 2020 […]

ASIA: The United States strongly condemns moves by China to further reduce political participation and representation in Hong Kong and is deeply concerned by a second delay in the territory’s Legislative Council elections, the U.S. State Department said on Tuesday. The measures are part of Beijing’s efforts to consolidate its increasingly authoritarian grip on Hong […]

ASIA: Chinese government bonds will be added to the FTSE World Government Bond Index (WGBI) over three years from the end of October, FTSE Russell said in a statement. Chinese government bonds were previously included in index suites from JPMorgan and Bloomberg Barclays, but FTSE WGBI inclusion is expected to have a larger effect due […]

ASIA: Chinese officials on Monday said Sweden’s H&M and other foreign brands should not make rash moves or step into politics after the companies raised concerns about forced labor in Xinjiang, sparking a furious online backlash and boycotts. H&M, Burberry, Nike, Adidas, and other Western brands have been hit by consumer boycotts in China since […]

ASIA: China is slapping massive duties on wine from Australia for the next five years, a move that threatens to deprive the country’s winemakers of their top export market and escalate a trade dispute. The duties, which range from 116% to 218%, were announced Friday and come after an investigation by Chinese authorities found instances […]

ASIA: Chinese state TV called Thursday for a boycott of H&M as Beijing lashed out at foreign clothing and footwear brands following Western sanctions on Chinese officials accused of human rights abuses in the Xinjiang region. The ruling Communist Party criticized H&M for saying in March 2020 it would stop buying cotton from the northwestern […]