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Press Releases

China stocks nervous as regulators bare teeth, Hong Kong rebounds

*Hong Kong rebound- HSI 0.8 pct. *Small-caps advance in mainland and HK after Shenzhen connect. The indexes managed to swing back into positive territory by midday amid signs that overseas investors were bargain hunting for Chinese shares using the new Shenzhen- Hong Kong stock market link launched on Monday.

Source: Reuters

Global prescription drug spend seen at $1.5 trillion in 2021 -report

Dec 6- Global spending on prescription medicines will reach nearly $1.5 trillion by 2021, although the annual rate of growth will decrease from recent years, according to a forecast by Quintiles IMS Holding released on Tuesday. The United States will account for up to $675 billion of the $1.5 trillion. "After two years of unexpectedly high levels of growth, we are...

Source: Reuters

METALS-Zinc, copper drop back after strong gains in previous session

SINGAPORE, Dec 6- London zinc eased on Tuesday, taking a breather following last session's 3.7 percent rally, with copper dropping 1 percent after notching its biggest one-day gain in nearly a month. Three-month zinc on the London Metal Exchange slid 0.4 percent to $2,754.50 a tonne by 0428 GMT, while the most-traded contract for the metal on the Shanghai Futures...

Source: Reuters

Indians look for solutions only when toxic pollution soars

NEW DELHI— The truth of New Delhi's toxic air finally hit home for Rakhi Singh when her 3- year-old son began to cough constantly early this year. She bought air purifiers for her home. As the noise and smoke from millions of firecrackers from the Hindu festival of Diwali died down, the city woke up Nov. 1 to soaring levels of PM2.5— pollution particles so tiny they can...

Source: The Associated Press

‘China’s Carl Icahn’ faces court in stock market rout fallout

Billionaire hedge fund manager Xu Xiang is on trial for insider trading, the SCMP reports.

Source: SCMP

GRAINS-Corn eases from 4-1/2 month high, wheat dips after 2-day rally

*Wheat falls, market under pressure as Australia eyes record crop. Wheat eased, snapping two sessions of gains as Australia forecast production of the grain would hit an all-time high, while soybeans rose for a second day on support from strong demand. The Chicago Board of Trade most-active corn contract had fallen 0.4 percent to $3.57-3/ 4 a bushel by 0342 GMT,...

Source: Reuters

Rumors of sharp drop in China’s yuan swirl on social media

Rumors swirled on social media on Tuesday that China's currency dropped sharply overnight, but the purported move may have been an isolated data hiccup.


China's yuan rises to 3-wk high as PBOC lifts currency fix, dollar retreats

HONG KONG, Dec 6- China's yuan rose to the highest level in nearly three weeks against the U.S. dollar on Tuesday, led by the central bank's stronger fix as authorities took the opportunity of a weaker greenback to consolidate efforts to support its battered currency. The People's Bank of China set the midpoint rate at 6.8575 per dollar prior to market open, 0.43...

Source: Reuters

UPDATE 1-China must step up reforms to curb rising leverage, distortions -US treasury official

BEIJING, Dec 6- China's rising corporate leverage underscored the urgent need to accelerate market-oriented reforms, a U.S. Nathan Sheets, the Under Secretary of the Treasury for International Affairs, said that China's non-financial corporate sector debt- at about 145 percent of gross domestic product- is among the highest for major economies, citing data...

Source: Reuters

Beijing shrugs off Trump’s insults, but Chinese netizens enjoy US ‘Twi-plomacy’

China appears unperturbed by Donald Trump's barrage of insulting tweets, but Chinese netizens are getting some laughs from the Twitter-diplomacy.