China’s benchmark Shanghai Composite Index (000001.SH) gained 0.32% on Tuesday, while the Shenzhen Component Index (399001.SZ) rose 0.15%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.93% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.26%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Former China Life Unit Executive Falls Under Graft Probe
Mei Jianya, who led Zhejiang branch of China Life Pension, joins a growing parade of officials caught up in a corruption crackdown
· Borrowing Surges Among Private Shenzhen Enterprises
Tech hub in southern China’s Guangdong — the country's hottest economy — shows reviving business confidence as supportive policies take hold
· Canton Fair Welcomes Return of More Foreign Buyers
Merchants at China’s top trade expo report that traffic of customers from abroad is almost back to pre-pandemic levels
· Sports Personality’s Disappearance Linked to Bribery Probe, Source Says
Former CCTV soccer commentator Duan Xuan allegedly bribed a Chinese Olympics preparations official in order to win business recruiting athletes for the 2022 Winter Games
· Israel Should Stop ‘Collective Punishment’ of Gaza, Wang Yi Says
All parties should refrain from actions that could aggravate the situation, China’s top diplomat said on a call with Saudi Arabian counterpart
· Hong Kong Takes Aim at Banking Fraud as Complaints Surge
Number of reported cases nearly doubles this year to 954 through September, compared with 555 for all of 2022, HKMA says
· China Tightens Rules for Short Selling to Prop Up Stocks
Regulators will increase the minimum margin ratio for selling borrowed securities to 80% from 50%, starting Oct. 30
· Cover Story: Hamas Attack on Israel Reignites Region’s Cycle of Violence
Looming Israeli ground assault on Gaza threatens 2 million Palestinians
· Weekend Long Read: How Liaoning’s Economy Crumbled
The northern province ranked among the country’s top eight provinces in terms of GDP at the start of the century, but has since slipped to 17th place
· Sinopec Unit to File for Arbitration Against U.S. LNG Supplier, Source Says
China International United Petroleum & Chemicals seeks arbitration against Venture Global over what it claims is a breach of contract for postponing delivery of shipments
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