Asia Economy

Chinese factory activity data falls short of expectations;  Asia-Pacific markets mixed

Chinese factory activity data falls short of expectations; Asia-Pacific markets mixed

Chinese factory activity beats expectations and contracts for second straight month China’s official manufacturing purchasing managers’ index for November came in at 48, below the 50-point mark that separates growth from contraction. That’s below analysts’ expectations polled by Reuters, who had forecast a reading of 49. October’s PMI was 49.2. PMI readings are sequential and …

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Hong Kong stocks rise nearly 4% ahead of Chinese Covid briefing

Hong Kong stocks rise nearly 4% ahead of Chinese Covid briefing

Chinese clues appear ahead of Covid briefing Indices in China jumped more than 2% as investors closely watched developments in the national zero-Covid policy after posting losses in the previous session. The Chinese CSI 300 index rose 2.97% during the morning session, while the Shanghai composite climbed 2.2%. The Shenzhen Component The index gained 2.172%. …

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Protests in China drag global stocks down as strategists see Covid disruption linger

Protests in China drag global stocks down as strategists see Covid disruption linger

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., Wednesday, November 9, 2022. Michael Nagle | Bloomberg | Getty Images Global stocks fell on Monday after rare protests erupted across China over the weekend amid growing unrest over the country’s zero-Covid policy. An apparent easing earlier this month …

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Hong Kong stocks lead losses in Asia on unrest in China, oil at 2022 low

Hong Kong stocks lead losses in Asia on unrest in China, oil at 2022 low

Indian stocks hit all-time highs Indian stocks hit new highs in Monday’s session. The Nifty 50 Index, the flagship index of the National Stock Exchange of India, reached 18,611.05, surpassing the previous intraday high of 18,604.45 seen on October 19, 2021. The Sensex reached 62,690.39 during the morning session in India, also surpassing previous record …

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New Zealand Achieves Biggest Rate Hike Ever;  Asia-Pacific stocks mixed ahead of Fed minutes

New Zealand Achieves Biggest Rate Hike Ever; Asia-Pacific stocks mixed ahead of Fed minutes

New Zealand dollar strengthens after biggest rate hike The New Zealand dollar strengthened to 0.6192 against the dollar after the central bank raised rates by 75 basis points, its biggest rise on record. The NZD last traded at 0.6170 against the dollar and the NZX 50 index in New Zealand fell 0.8%. The New Zealand …

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Hong Kong stocks lead losses as China's Covid cases surge;  Mixed Asian markets

Hong Kong stocks lead losses as China’s Covid cases surge; Mixed Asian markets

JD.com shares fall after company slashes top executive pay Hong Kong listed shares of JD.com traded down more than 5% in the afternoon after the company confirmed pay cuts for its management team. The Chinese e-commerce giant has confirmed that it will cut the cash salaries of its management team by up to 20%, starting …

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Hong Kong stocks lead losses as China's Covid cases surge;  Mixed Asian markets

Hong Kong stocks lead losses as China’s Covid cases surge; Mixed Asian markets

JD.com shares fall after company slashes top executive pay Hong Kong listed shares of JD.com traded down more than 5% in the afternoon after the company confirmed pay cuts for its management team. The Chinese e-commerce giant has confirmed that it will cut the cash salaries of its management team by up to 20%, starting …

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Fired from your technical job?  Here's what you need to do to increase your chances of getting hired

Fired from your technical job? Here’s what you need to do to increase your chances of getting hired

The tech world has been rocked by mass layoffs as giants like Meta, Twitter and Elon Musk-owned Amazon bleed jobs amid economic uncertainty. The number of IT layoffs in 2022 alone accounts for more than half of all layoffs since Covid-19, according to layoffs.fyi, a tracking website. “Tech companies of all shapes and sizes are …

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Chinese real estate stocks have surged this month.  But analyst warns of 'weak reality' compared to high expectations

Chinese real estate stocks have surged this month. But analyst warns of ‘weak reality’ compared to high expectations

House prices in China fell in October mainly due to lower prices in less developed, so-called Tier 3 cities, according to analysis of official data from Goldman Sachs. Edition of the future | Edition of the future | Getty Images BEIJING — China’s real estate sector is not yet ready for a quick recovery, despite …

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Hong Kong shares drop 2% in Asia session;  China keeps interest rates unchanged

Hong Kong shares drop 2% in Asia session; China keeps interest rates unchanged

Japanese trading houses rise as Berkshire Hathaway reportedly increases stake Shares of some Japanese trading houses rose at the start of the Asian session, despite declines in markets in the region, after billionaire Warren Buffett’s Berkshire Hathaway increased its stake in the companies, according to individual regulatory filings. Berkshire increased its stake by more than …

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