Key News Asian equities were mixed overnight in advance of tomorrow’s Labor Day holiday as Japan outperformed following its holiday yesterday.
FINANCE
China tensions rise to the surface as HSBC seeks its next boss
HSBC chief executive Noel Quinn and chairman Mark Tucker were in an unusually jovial mood in the early hours of Tuesday morning. Rather than focusing on Quinn’s unexpected departure after five years …
China tensions bubble up as HSBC seeks its next boss
Several internal candidates are already in the frame, including finance chief Georges Elhedery. But the shake-up is likely to reignite the long-running debate over whether HSBC needs to pivot away …
G7 urges China and others to help climate finance: ‘join us in this direction’
G7 ministers said on Tuesday that efforts to raise money to help poorer countries adapt to climate change should include countries “capable of contributing”, in a message aimed at China.
HSBC CEO To Step Down After Almost Five Years at the Helm of the Banking Giant
HSBC Holdings’ (HSBC) shares rose Tuesday after the London-based bank surprised the market and said its group chief executive (CEO), Noel Quinn, was stepping down after nearly five years at the helm.
In message to China, G7 urges others to help climate finance: ‘join us in this direction’
G7 ministers said on Tuesday that efforts to raise money to help poorer countries adapt to climate change should include countries “capable of contributing”, in a message aimed at China.
China Evergrande to delay 2023 annual results; shares remain suspended
China Evergrande Group flagged a delay in publishing its annual results as its liquidators are taking time to “ascertain the current state of affairs” of the embattled property developer.
China State Firm to Sell 20 Shanghai Office Towers in Downturn
A major state-owned landlord in Shanghai is offering to sell most of its office buildings for at least 30 billion yuan ($4.1 billion), people familiar said, underscoring the severity of the city’s …
China launches record gold buying spree amid fears of global conflict
China has built up a $170bn (£135bn) stockpile of gold after a record buying spree, in a move that has raised fears Beijing is preparing its economy for a possible conflict over Taiwan …
China’s slow April factory, services activity dents economic momentum
China’s manufacturing and services activity both expanded at a slower pace in April, official surveys showed on Tuesday, suggesting some loss of momentum for the world’s second-biggest economy at the …
China’s private pension push marred by weak financial literacy, as ‘people still have no idea’
China also needs to keep optimising incentives to persuade … policies are to be continuously optimised during the national implementation”, former finance minister Lou Jiwei said at a forum on the …
China’s ICBC, Agricultural Bank post profit drops on margin squeeze
The government may press state banks to continue cutting lending rates, further eroding their margins, analyst says.
China now home to 369 unicorns, with an average value of US$3.8 billion, led by AI and semiconductor firms, report says
Across 16 sectors, AI unicorns are the highest valued, at an average of US$6.76 billion, followed by financial technology firms at US$6.57 billion Beijing minted the most number of unicorns at 114, …
