China producer prices turn negative in warning sign for global economy

China producer prices turn negative in warning sign for global economy

SINGAPORE – Prices charged by Chinese companies at the factory gate registered their first annual decline in nearly two years, another depressing signal for the global economy, as bulging inventories and cautious consumers in the West hit overseas demand for Chinese-made goods. Chinese producer prices fell 1.3% in October from a year earlier, the National … Read more

Stock futures rise as midterm vote begins

Stock futures rise as midterm vote begins

US stock futures ticked higher as investors awaited the outcome of the midterm elections, which are expected to result in a divided government. S&P 500 futures rose 0.4% on Tuesday, while Nasdaq 100 futures rose 0.6%. Dow Jones Industrial Average futures rose 0.4 percent. The moves come a day after stock markets rallied, with the … Read more

Foxconn’s efforts to ease workers’ fears of Covid led to tighter lockdowns

Foxconn’s efforts to ease workers’ fears of Covid led to tighter lockdowns

HONG KONG – When a small group of workers spent 27 hours locked inside the world’s largest iPhone factory in early October, it appeared to be little more than another temporary lockdown in China’s ongoing war against Covid-19. But the outbreak continued and on Monday, days after saying operations were stabilizing, Foxconn Technology Group cut … Read more

China is gradually weighing zero-Covid exit, but proceeding cautiously with no timeline

China is gradually weighing zero-Covid exit, but proceeding cautiously with no timeline

SINGAPORE — Chinese leaders are considering steps toward reopening after nearly three years of tough pandemic restrictions, but they are proceeding slowly and have not set a timeline, according to people familiar with the discussions. Chinese officials have grown concerned about the cost of their zero-tolerance approach to quelling Covid-19 outbreaks, which have resulted in … Read more

Alibaba, Nio, Tencent and other Chinese stocks rise

Alibaba, Nio, Tencent and other Chinese stocks rise

Chinese stocks rose on Monday as investors remained optimistic that coronavirus rules would be eased, despite repeated messages from authorities that China would stay the course with “zero Covid” policies. Major U.S.-listed Chinese stocks were higher in premarket trade, with Ali Baba (ticker: BABA) rises 1.5%, JD.com (JD) 2% in the green, Tencent (700.HongKong) climbing … Read more

Apple warns iPhone production disrupted by China’s Covid-19 restrictions

Apple warns iPhone production disrupted by China’s Covid-19 restrictions

The Cupertino, California-based tech giant said on Sunday that the Zhengzhou assembly plant is currently operating but at reduced capacity. “We now expect lower iPhone 14 Pro and iPhone 14 Pro Max shipments than we previously expected, and customers will experience longer wait times to receive their new products,” the company said. Last week, Apple … Read more

Tiger Global halts new Chinese equity investments

Tiger Global halts new Chinese equity investments

Longtime Chinese investor Tiger Global Management has paused investing in Chinese stocks, people familiar with the matter said, as the firm reevaluates its exposure to the world’s second-largest economy after President Xi Jinping cemented his control over the country. Tiger leaders, including founder Charles “Chase” Coleman, have told others that Mr Xi’s re-election and his … Read more

Hong Kong hails reopening to Wall Street despite Covid controversies, typhoon

Hong Kong hails reopening to Wall Street despite Covid controversies, typhoon

Hong Kong’s attempt to welcome back global investors with a flagship summit was overshadowed by the controversial handling of a top local official’s Covid-19 test result, a typhoon and a lack of debate on how coronavirus restrictions have dented investor confidence in both Hong Kong and Hong Kong. mainland China. Some of Wall Street’s top … Read more

Chinese iPhone City locks down to curb Foxconn Covid crisis

Chinese iPhone City locks down to curb Foxconn Covid crisis

HONG KONG — The industrial park where Foxconn Technology Group’s iPhone assembly plant is struggling to maintain production amid a Covid-19 outbreak entered a week-long lockdown on Wednesday after the region’s governor visited the site and urged local officials to step up surveillance of the virus . control campaign. The Zhengzhou Airport Economy Zone in … Read more

Pfizer has not moved past the pandemic yet

Pfizer has not moved past the pandemic yet

Pfizer‘s PFE 3.14% stock has gone from being a star in 2021 to a pharma laggard this year. Much of that has to do with the trajectory of the pandemic. Like no other large company in the United States, Pfizer’s history has become uniquely linked to Covid-19. Its two top products, the Covid-19 vaccine and … Read more