Bank of America on Tuesday announced job cuts of around 20 bankers in Asia, three sources with knowledge of the matter said, as plunging markets in China and Hong Kong weighed on deal prospects. The…
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China’s Market Rescue: A Bold $278 Billion Stabilization Plan In Play Amid Deepening Crisis
Chinese authorities to assemble a rescue package to stabilize stock market amid sharp declines, intensifying urgency to curb selloff.
Investors give up futile wait for China to fix economy
Allspring has been underweight China since last year. This week’s selloff was a culmination … Rodrigo Campos is based in New York. He covers economic and financial news from global emerging markets …
Stocks hover near one-month highs, China markets struggle
Global stocks inched down from one-month highs on Tuesday, after the Bank of Japan left monetary policy unchanged, bolstering the yen and Japanese stocks, while Chinese investors took little heart …
Bank of America cuts 20 in Asia, China investment bankers affected most – sources
Bank of America on Tuesday announced layoffs of around 20 bankers in Asia, said three sources with knowledge of the matter, becoming the first major bank to downsize in 2024 as China and Hong Kong…
China’s desperate measures to save Hang Seng, Shanghai index near
The Hang Seng and Shanghai Composite bounced back on Tuesday as the recent sell-off eased. In Hong Kong, the Hang Seng index surged by almost 3% while in Mainland China, the Shanghai Composite and …
Yen falls as BOJ stands pat; China market rescue talk helps yuan, Aussie
The yen fell broadly on Tuesday after the Bank of Japan (BOJ) maintained its ultra-loose monetary policy in a closely watched policy decision, matching market expectations. The Japanese currency was …
China Citic Bank’s 2023 Profit Rose Despite Weaker Top Line
By Kimberley Kao China Citic Bank’s net profit rose 7.9% in 2023, even as its top line fell. The China-based lender posted net profit of 67.02 billion …
Xi’s Corruption Crackdown Targets China’s Embattled Finance Sector
The Chinese president says he will root out deep-seated malfeasance in the finance, banking and state-owned sectors despite fears over the delicate state of the economy.
China is weighing measures to prop up its stock markets, could reportedly mobilize $278 billion
China is weighing a rescue package backed by offshore money to stave off a slump in its struggling stock markets, according to Bloomberg News.
China’s financial hub Shanghai targets around 5% GDP growth for 2024
SHANGHAI – China’s financial hub Shanghai has set its regional gross domestic product (GDP) growth target at about 5 percent for 2024, according to the annual session of the municipal people’s …
China Weighs Stock Market Rescue Package Backed by $278 Billion
Chinese authorities are considering a package of measures to stabilize the slumping stock market, according to people familiar with the matter, after earlier attempts to restore investor confidence …
China weighs stock market rescue package backed by two trillion yuan
CHINESE authorities are considering a package of measures to stabilise the slumping stock market, according to sources familiar with the matter, after earlier attempts to restore investor confidence …
