Asia Economy

Hong Kong stocks rise around 3% after reports say city plans to ease Covid rule

Hong Kong stocks rise around 3% after reports say city plans to ease Covid rule

China’s National Health Commission issues guidelines for treating Covid at home Chinese health authorities announced guidelines on Thursday to treat Covid patients at home, a day after formalizing a policy that allows most infected patients to quarantine at home, as part of the easing measures in the country. The notice on the National Health Commission …

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Wealthy Chinese keep spending while others cut spending, survey finds

Wealthy Chinese keep spending while others cut spending, survey finds

Pictured is a science fiction-themed installation at Maison Hermes in Shanghai, China, November 28, 2022. Edition of the future | Edition of the future | Getty Images BEIJING — Wealthier Chinese were more likely to spend this year, while poorer people cut spending even more, McKinsey and Company found in a survey released Thursday. The …

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Asian markets trade mixed amid recession fears;  China to release trade data

Asian markets trade mixed amid recession fears; China to release trade data

China expects further drop in exports and imports China’s trade data for November is expected to show a further decline in both exports and imports, according to a Reuters poll of economists. Exports are expected to fall 3.5% in November on an annualized basis after falling 0.3% in October, and imports are expected to fall …

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Hong Kong shares jump 3% as China relaxes some virus rules

Hong Kong shares jump 3% as China relaxes some virus rules

Morgan Stanley overweight Chinese stocks Morgan Stanley strategists raised its recommendation for Chinese stocks to overweight, according to a Sunday note. The upgrade marks the end of the company’s equal weight position in Chinese stocks that it has held for nearly two years, strategists led by Laura Wang said. Morgan Stanley noted that several factors …

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Japanese stocks drag losses in Asia as investors seek clarification on China's Covid rule changes

Japanese stocks drag losses in Asia as investors seek clarification on China’s Covid rule changes

Singapore and New York are ranked among the most expensive cities to live: EIU Singapore and New York have been ranked as the most expensive cities to live in this year, according to the Economist Intelligence Unit (EIU). EIU’s survey showed that the average price of goods in 172 major cities around the world rose …

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India could become third largest economy by 2030, overtaking Japan and Germany

India could become third largest economy by 2030, overtaking Japan and Germany

Beautiful and colorful aerial view of the Mumbai skyline during twilight as seen from Currey Road on February 16, 2022 in Mumbai, India. Pratik Chorgé | Hindustan Times | Getty Images India is expected to overtake Japan and Germany to become the world’s third-largest economy, according to S&P Global and Morgan Stanley. The S&P forecast …

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Asia-Pacific Markets Rise, Japanese Yen Strengthens as Fed Signals Lower Rises

Asia-Pacific Markets Rise, Japanese Yen Strengthens as Fed Signals Lower Rises

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’s loss of $275 million investment in collapsed crypto exchange FTX is “disappointing and has caused reputational damage” of the city-state. But the loss …

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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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