China’s benchmark Shanghai Composite Index (000001.SH) lost 1.13% on Wednesday, while the Shenzhen Component Index (399001.SZ) fell 1.12%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.65% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.63%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Update: Chinese Metal Giant Faces Heavy Losses on Wild Nickel Ride
Tsingshan Holding’s massive short position gets the squeeze as Russia-Ukraine war drives prices even higher on already tight supplies
· Zhang Wenhong: How to Beat Covid-19 With a Smarter Zero-Covid Policy
With the pandemic fight in a new stage, it’s time to apply a dynamic approach to targeted prevention and control and resume normal life
· China Throws Up Temporary Bridge to Build Covid Hospital in Hong Kong
Span will convey workers and materials as special administrative region fights the world’s highest Covid death rate
· Chinese Developer Logan Faces $839 Million Liquidity Crunch This Month
With capital markets closed for Chinese property companies, Logan will have to scrape up cash or get extensions from creditors
· Sanctions on Russia Sound Alarm for Chinese Banks
Lenders need to step up risk assessment to avoid secondary sanctions, analysts say
· Caixin Explains: Why China’s Creating a Financial Security Fund
The move is the latest attempt to ensure stability and prevent risks from indebted institutions deemed ‘too big to fail’ from overflowing into the rest of the financial system
· China’s New Covid Wave Ratchets Up Pressure on Local Authorities
Many parts of the mainland are facing the dual pressure of controlling local outbreaks and preventing cases being brought in to the country
· Tech Insider: TikTok’s Russian Restrictions, Battery Fire Concerns
Huawei signs 5G deal with Turkish telecoms firm, iQiyi raises $285 million
· China’s Oil Prices Go Through the Roof as Ukraine Crisis Hits Home
Gasoline is up 30% and diesel 15.5%, with both approaching 10-year highs as international crude prices skyrocket
· More Wealthy Women Are Getting Into Asia’s Financial Markets, Survey Shows
HSBC found the number of female investors with at least $120,000 in liquid assets is growing
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This article was generated by Caixin Automation.
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