Chinese factory activity at lowest level since April; Hong Kong shares briefly rise 2%

Workers work on a speaker production line at Luyang Electronics Co LTD in Fuyang city, Anhui province, China, 31 October 2022. CFOTO | Future publication | Getty Images Asia-Pacific stocks were largely higher on Wednesday as value for China’s manufacturing activity fell short of expectations in November, falling to its lowest reading since April 2022. … Read more

British Prime Minister Rishi Sunak says the ‘golden era’ for Britain and China is over

Sunak’s comments come shortly after groups of people across China held public demonstrations to protest the country’s strict zero-Covid policy. Daniel Leal | Afp | Getty Images British Prime Minister Rishi Sunak said the so-called “golden era” of relations with China was over, warning that Beijing’s move towards even greater authoritarianism posed a systematic challenge … Read more

Hong Kong Stocks Up 3% in Asia Session; The Covid situation in China remains under scrutiny

Japan’s unemployment rate remains unchanged, retail sales are missing estimates According to official data, Japan’s unemployment rate was stable in October from its September reading of 2.6%. The figure is slightly higher than the average expectation of 2.5% from economists polled by Reuters. The jobs-applicants ratio, which measures the number of active vacancies per job … Read more

Hong Kong Stocks Up 3% in Asia Session; The Covid situation in China remains under scrutiny

Japan’s unemployment rate remains unchanged, retail sales are missing estimates According to official data, Japan’s unemployment rate was stable in October from its September reading of 2.6%. The figure is slightly higher than the average expectation of 2.5% from economists polled by Reuters. The jobs-applicants ratio, which measures the number of active vacancies per job … Read more

China protests could usher in a ‘more authoritarian’ Xi era, analyst says

Police form a cordon during a protest against China’s strict zero-COVID measures on November 27, 2022 in Beijing, China. Kevin Frayer | Getty Images News | Getty Images The eruption of protests in China over the weekend could mark the start of a “more authoritarian” era in President Xi Jinping’s rule, an analyst warned Monday, … Read more

Asia-Pacific equities largely lower, Tokyo inflation highest in 40 years; US markets closed

The proposed G-7 price cap may not have any effect on Russia, says Wood Mackenzie The price cap for Russian oil of between $65 and $70 a barrel proposed by the Group of Seven (G7) countries may not be a significant deterrent to Moscow, according to Wood Mackenzie. The planned limit is not expected to … Read more

Asia-Pacific equities largely lower, Tokyo inflation highest in 40 years; US markets closed

Hong Kong Movers: Casinos, Tech Stocks Drop on Rising Numbers of Chinese Businesses Hong Kong-listed shares related to reopening and technology fell during the morning session in Asia following reports of a spate of Covid cases in China. Casino operator shares MGM China fell more than 4%, Wynn Macau lost 2.5%, Sand China fell 3%, … Read more

The Malaysian king says leading coalitions don’t have the numbers to form a government

Voters line up to cast their ballots during the general election in Bera in Pahang state, Malaysia, November 19, 2022. Xinhua News Agency | Xinhua News Agency | Getty Images Malaysia’s King Yang di-Pertuan Agong said that neither the leading coalitions Pakatan Harapan or Perikatan Nasional has achieved a simple majority to form a government … Read more

Malaysian voters sided with conservatism in opinion polls over the weekend, analysts said

It will be a tough road to victory for Malaysia’s reformist party Pakatan Harapan after the weekend’s general election, where voters skewed towards conservative and religious parties, analysts said. Malaysia faces a hung parliament with no clear coalition winner to form a majority government. Pakatan Harapan led with 82 seats, followed by the incumbent government … Read more

Asia-Pacific markets are trading lower; China keeps LPR stable

As expected, China is maintaining its prime lending rates China has left its benchmark rate unchanged for the third month in a row, according to an announcement by the People’s Bank of China. The one-year bond prime rate is stable at 3.65%, and the five-year bond is also fixed at 4.3%, the notice said. — … Read more