China’s benchmark Shanghai Composite Index (000001.SH) lost 0.7% on Tuesday, while the Shenzhen Component Index (399001.SZ) fell 0.56%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.58% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.53%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Xi and Schumer Delegation Call for Easing U.S.-China Tensions
Chinese president meets in Beijing with U.S. lawmakers led by Senate majority leader as the two nations move to stabilize relations
· Covid and Flu Outbreaks to Alternate Every Six Months, Expert Says
University of Hong Kong department of medicine’s Ivan Hung predicts that the next Covid peak will likely take place in November
· Disgraced Ex-Bank of China Chairman Expelled From Party
Liu Liange found to have facilitated loans for private gain, promoted people for personal purposes and accepted bribes
· China Calls for Ceasefire as Casualties Mount in Israel-Gaza Conflict
Beijing reiterates support for two-state Israel-Palestine solution in the wake of widescale fighting that has left at least 1,100 people dead
· HSBC Buys Citi’s $3.6 Billion China Retail Assets in Wealth Expansion
The London-headquartered bank is pushing to become a leader in one of the world’s fastest growing wealth markets as part of its pivot to Asia
· Ant Group Consumer Lending Arm Plans $625 Million Capital Injection
Chongqing Ant Consumer Finance is boosting its registered capital to complete the acquisition of its parent’s microloan businesses, sources say
· Alibaba Think Tank Dispells Closure Rumors
Luohan Academy is undergoing a reorganization that will see some of its research operations taken over by its parent
· Cover Story: Chinese in the Crosshairs of ‘Mushrooming’ Transnational Cybercrime
U.N.says hundreds of thousands have been forced into participating in unlawful online scam operations in Myanmar and Cambodia, many of them Chinese
· Hong Kong and Singapore Can Learn From Each Other in New Era, Li Ka-shing Says
Both cities need to contemplate their future as they face increasingly complex global and societal issues, the billionaire notes
· U.S. Blacklists 42 Chinese Entities Over Alleged Russia Ties
Beijing expresses opposition to the latest sanctions, saying that Washington has abused export controls
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This article was generated by Caixin Automation.
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