MARKET
PBOC raised yuan’s fixing by 731 pips to 6.6756 per US dollar
The PBOC raised the yuan’s fixing by 731 pips to 6.6756 per US dollar on Monday, compared to a fixing of 6.7487 in the previous trading day.
Market open on Monday: Hong Kong stocks lower with tech leading losses; Chinese A-share trade higher led by iron ore firms
Hong Kong stocks open lower on Monday, with the benchmark Hang Seng Index down 0.52%, the Hang Seng China Enterprises Index down 0.54%, and the Hang Seng Tech Index down 0.96%.
China’s benchmark iron ore futures hit highest since May 5 after India hiked export tariffs
China’s benchmark iron ore futures contract surged more than 6% on Monday boosted by India’s latest move to hike tariffs on iron ore exports.
District in Wuhan announced removal of home purchase before deleting statement the same day
The Wuhan Economic and Technological Development Zone in Central China’s Hubei Province has deleted a statement on social media Weibo saying that home purchase restrictions have been removed the the zone.
Apple looks to increase production outside China, India and Vietnam under short-listed – Wall Street Journal
Apple Inc has told some of its contract manufacturers that it wants to increase production outside China, the Wall Street Journal reported, citing people familiar with the matter.
Premier Li reiterates”China’s resolve to open up not changed”
Chinese Premier Li Keqiang said that China’s resolve to open up to the outside world will not change, and the country will continue to build itself into a big market and a hot destination for foreign investment.
Tesla Shanghai sees 26,000 vehicles roll off production line since operation resumed in April – China official data
As of May 19, Tesla’s Shanghai plant has seen a total of 26,000 vehicles roll off the production line since operations resumed a month ago, according to an article released by China’s Ministry of Industry and Information Technology on its official WeChat account.
Tencent reportedly abolished sport business in latest business reshuffle
Chinese internet giant Tencent abolished six sports business units, including the soccer and basketball operations group due to changes in the external market environment and a necessary business reorganization, The Paper reported, citing an internal company notice.
Four companies incl. SMIC added to Hang Seng Index
Four companies including Semiconductor Manufacturing International Corporation, China Hongqiao, Zhongsheng Group Holdings Ltd, Orient Overseas Container Line and China Hongqiao Group Limited will be added to the Hang Seng Index, announced Hang Seng Indexes Company.
Tianjin cut mortgage rate for first-time home buyers to as low as 4.25% after PBOC rate cut
Several large state-owned banks’ branches in the city of Tianjin have lowered the home mortgage rate for first-time home buyers after the central bank cut the five-year benchmark lending rate on Friday.
China vowed to take all necessary measures to protect its companies’ rights after Canada banned Huawei, ZTE
The Chinese Embassy in Canada vowed to take all necessary measures to protect Chinese firms’ legitimate rights and interests, after Canada revealed plans to ban use of 5G gear from Huawei and ZTE on national security grounds.