MARKET
Biden administration still considering whether to lift tariffs on Chines goods, as 400 requests submitted to keep tariffs
US President Joe Biden’s team is still looking at options on whether to cut tariffs on Chinese imports to ease inflation, the White House said on Tuesday, as more than 400 requests to keep tariffs in place on Chinese goods had been submitted to the US Trade Representative’s office as of late Tuesday, complicating Biden’s decision-making.
Shares of Chines coal miners slumping, after industry body said coal supply is sufficient
Shares of Chinese coal miners are tumbling on Wednesday after a strong rally one day earlier, with an index tracking the sector compiled by Wind Information slumping 5.6% as of 10:29 am local time, making it the worst-performing sector in the A-share market.
Xiaomi reportedly to start smartphone production in Vietnam
Chinese smartphone maker Xiaomi has started to produce smartphones in Vietnam, reported Nikkei Asia, and is also said to be planning to export to Southeast Asia, including Malaysia and Thailand.
Commodity Market Open Wed: China’s commodities see sell-off across the board, oil slumping, live hog dive after regulator warnings
China’s commodities futures open sharply lower across the board on Wednesday morning, with crude oil related commodities leading the sell-off.
Stock Market Open Wed: Hong Kong stocks, A-shares open mixed, oil companies slumping
Hong Kong stocks open mixed on Wednesday, with the benchmark Hang Seng Index down 0.35%, the Hang Seng China Enterprises Index down 0.24% and the Hang Seng Tech Index up 0.14%.
China’s crude oil tumble as WTI crude breaks through $100 per barrel for first time since May
China’s most-traded crude oil futures contract on the Shanghai International Energy Exchange, for August delivery, tumbled as much as nearly 8% to hit 671 yuan per barrel on Tuesday night.
Air cargo, logistics firms rally in Hong Kong on recovery of logistics industry
China’s air cargo and logistics companies trading higher in Hong Kong as the logistics industry expanded in June as Covid restriction eased, with GogoX surging more than 12%, Anneng Logistics up more than 7%, Kerry Logistics up more than 1%.
China’s temperature hit highest since 1961 in Jun, heatwaves to sweep through northern China in next two weeks
China’s average temperature was 21.3°C in June, which was 0.9°C higher than the same period in normal years and hit the highest since record started in 1961, said the China Meteorological Administration.