China’s benchmark Shanghai Composite Index (000001.SH) gained 0.67% on Friday, while the Shenzhen Component Index (399001.SZ) rose 0.73%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.31% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) ended nearly flat.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China Provinces to Supply More Coal to Ease Power Shortage
Commitments follow power outages and rationing in several provinces
· New Bidders Join Race for Stakes in Securities Firm Linked to Tomorrow Holding
China Chengtong and Dongxing to bid for 98% stake in New Times Securities
· World Consumer Price Inflation to Retreat to Pre-Pandemic Level by Mid-2022, IMF says
But price outlook is uncertain because of changes in markets for labor, housing and food
· Investors Offload Chinese Developers’ Dollar Bonds Amid Rising Anxiety About Defaults
Yields surge after Fantasia Holdings becomes the latest real estate firm to miss a bond payment in the wake of the Evergrande crisis
· Baidu-Backed EV-Maker WM Motor Raises $300 Million Despite String of Setbacks
Two Hong Kong-listed companies led the loss-making firm’s recent funding round
· Hong Kong Back On ‘Right Track’ With National Security Law, Carrie Lam Says
City’s chief executive outlines plans for housing development and attracting global talent in annual policy address
· China’s Shrinking Labor Investment Drives Down Caixin New Economy Index
Decline undercuts uptick in capital inputs as old economy weighs
· Top Chinese Diplomat Meets U.S. National Security Advisor in Switzerland
In the latest sign of improved communication between Beijing and Washington, top officials meet in Switzerland
· Hong Kong Plans Massive Development to Build Homes and Promote IT Sector
New ‘Northern Metropolis’ will house up to 2.5 million people and create 650,000 jobs, Lam says
· Developer Fantasia Holdings Defaults on $206 Million Note
Failure to make payment adds to concerns on property sector as Evergrande struggles with liquidity
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This article was generated by Caixin Automation.
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