China’s benchmark Shanghai Composite Index (000001.SH) gained 0.64% on Thursday, while the Shenzhen Component Index (399001.SZ) rose 0.94%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 2.41% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.83%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Lithium Prices Nosedive Amid Weaker Demand
Key material for EV batteries drops by half since November as end to China’s subsidies slams demand for electric vehicles
· China Clears First Homegrown mRNA Covid Vaccine
CSPC Pharmaceutical reports winning approval from National Medical Products Administration for shot targeting omicron variant
· China Huarong Expects to Post $4 Billion Loss for 2022
Red ink reflects restructuring amid government bailout as well as falling asset values from capital market volatility and real estate slump
· Xi, Putin Call for ‘Responsible Dialogue’ to End Ukraine Crisis
Russia also said a position paper on the crisis issued by China last month could ‘be taken as the basis’ to settle the conflict that began more than a year ago
· Analysis: Why China’s 2023 Fiscal Policy May Be Less Expansionary Than It Seems
A higher budget deficit-to-GDP ratio belies underlying slowdown in spending growth, although analysts say the government may get more bang for its buck
· Henan Rural Banking Scandal Claims Another Senior Official
Wu Jinpeng, former deputy chief of Henan Rural Credit Union, turns himself in to authorities investigating multibillion-dollar swindle
· Caixin Explains: Why Some Credit Suisse Bondholders Got Wiped Out and Shareholders Didn’t
Swiss authorities ranked holders of $17 billion of additional tier 1 bonds behind equity holders in an unusual reversal of payment hierarchy, which U.K. and EU quickly repudiated
· Tech Insider: XPeng Warns of Plunging Revenue, Taiwan Chip Exports Sputter
Former China chip giant chief charged with corruption, business-software makers suffer sell-off on news of Huawei’s entrance
· In Depth: Why China’s Bond Traders Got Cut Off From the Data They Needed
Financial regulators stood at the center of last week’s tumultuous suspension of services that provide crucial price information to traders
· Why Empty Containers Piled Up at Chinese Ports
Glut that emerged in recent months was due to a confluence of factors mostly related to the Covid-19 pandemic, head of customs bureau says
Click here to read more of the latest news.
This article was generated by Caixin Automation.
Follow the Chinese markets in real time with Caixin Global’s new stock database.
