China

South Korea GDP, Caixin Manufacturing PMI, Japan Consumer Confidence

Japanese yen strengthens after Powell’s comment on small bulls Temasek’s $245m FTX loss ‘damaged reputation’ of Singapore, Deputy PM says Singapore’s Deputy Prime Minister Lawrence Wong says the state’s sovereign wealth fund investment loss of $275 million in collapsed crypto exchange FTX was “disappointing and caused reputational damage” to the city-state. But the loss of …

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China’s factory activity data misses expectations; Asia-Pacific markets mostly higher

Chinese factory activity beats expectations and contracts for second straight month Official China Manufacture 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 …

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Stocks fall as Chinese Covid protests dampen market sentiment

Shares fell on Monday as social unrest caused by prolonged Covid restrictions in China weighed on the markets, driving down oil prices — after Wall Street recorded gains during the shortened Thanksgiving holiday week. The Dow Jones Industrial Average fell 160 points, or 0.5%. The S&P 500 and the Nasdaq Composite 0.6% and 0.4%, respectively. …

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Dow rises 150 points as Wall Street looks to close out winning week

The Dow Jones Industrial Average rose on Friday as Wall Street pushed for solid gains in the holiday-shortened trading week. The Dow Jones Industrial Average rose 173 points, or 0.51%. The S&P 500 gained 0.03% and the Nasdaq Composite slipped 0.55%, dragged down by shares of Activision Blizzard, which fell more than 4% following the …

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Asia-Pacific stocks mostly lower, Tokyo inflation at highest in 40 years; U.S. markets closed

G-7 proposed price cap may have no effect on Russia, says Wood Mackenzie Group of Seven (G7) Nations proposed price cap for Russian oil between $65 and $70 a barrel may not be a significant deterrent to Moscow, according to Wood Mackenzie. The planned cap shouldn’t hurt Russia’s oil revenue, as the oil prices that …

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Foxconn protests: iPhone factory offers to pay its workers to quit and leave Zhengzhou campus

hong kong CNN Business — Foxconn has offered to pay newly hired workers 10,000 yuan ($1,400) to quit and leave the world’s largest iPhone assembly plant in a bid to crack down protests that have seen hundreds of clashes with security forces within the confines of central China. The Apple supplier made the offer on …

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Zhengzhou, China: Protesters at Foxconn factory clash with police, videos show

Beijing/Hong Kong CNN Business — Workers at China’s largest iPhone assembly plant were seen confronting police, some in riot gear, on Wednesday, according to videos shared on social media. Videos show hundreds of workers confronting law enforcement officers, many wearing white hazmat suits, at the Foxconn campus in China’s central city of Zhengzhou. In the …

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