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The Latest Breaking News from China

Lam steps down as fractured Hong Kong faces more uncertainty

Chief Executive Carrie Lam will be remembered for her pivotal role in setting off 2019’s mass protests.

Al Jazeera

U.S. OKs China Eastern rerouting of New York-Shanghai flights

The U.S. Transportation Department on Friday approved China Eastern Airlines Corp's request to let it extend the rerouting of New York-to-Shanghai flights, over COVID-19 measures, to a different Chinese airport through May 31.

Reuters

Cody Riley bids UCLA farewell after an international scandal and a Final Four

LOS ANGELES — He apologized that day for disappointing his teammates, his coaches, an entire country. Among the three UCLA basketball players who made the solemn march into an interview room to stare into a phalanx of television cameras and speak about shoplifting from stores in China, Cody Riley went…

Los Angeles Times

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Biden heads for JD Vance’s home turf as Democrat sits out event

President Joe Biden demanded Congress pass legislation to make the U.S. more competitive with China during a speech in Ohio that wasn’t attended by the Democratic nominee for the state’s pivotal open Senate seat.

Tribune News Service

Ukraine, inflation and Covid still in spotlight

We expect the SET Index to continue to be volatile. Russia's war in Ukraine will remain in the spotlight, while investors will keep an eye on signals from the US Federal Reserve and the Covid-19 outbreak in China, which is forecast to peak soon. On the domestic front, earnings speculation…

Bangkok Post

Rate jitters keep stocks on back foot

Recap: Global stocks retreated as markets worried about more US interest-rate increases while Asian shares slumped on a concern that China's Zero-Covid policy may hold back the region's economic growth.

Bangkok Post

'Zero-COVID' lockdowns cancel AP exams for students in China

Thousands of high school students in China are missing Advanced Placement exams that many prepared for to improve their chances of attending college in the West

The Independent UK

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What's Going On With Bitcoin- And Ethereum-Related Stock SOS Limited Today?

Shares of Chinese companies, including Sos Ltd - ADR (NYSE: SOS), are trading lower. Concerns over COVID-19 cases in China, as well as U.S. market weakness, have pressured Chinese stocks today.

Benzinga

Adidas Shares Slide As China Lockdown Weighs On Q1 Earnings, FY22 Outlook

Adidas AG (OTC:ADDYY) reported first-quarter FY22 sales growth of 0.6% year-on-year to €5.3 billion. Currency-neutral sales declined 3% as supply constraints reduced the top-line by €400 million. Currency-neutral sales across North America rose 13%, EMEA improved 9%, and Latin America jumped 38%. The challenging market environment and COVID-19-related lockdowns in Greater China and…

Benzinga

Why JD.com Shares Are Diving

Shares of Chinese companies, including JD.Com Inc (NASDAQ: JD), are trading lower. Concerns over COVID-19 cases in China, as well as U.S. market weakness, have pressured Chinese stocks today.

Benzinga

Why Pinduoduo Shares Are Falling

Shares of Chinese companies, including Pinduoduo Inc - ADR (NASDAQ: PDD), are trading lower. Concerns over COVID-19 cases in China, as well as U.S. market weakness, have pressured Chinese stocks today.

Benzinga

Why Alibaba Shares Are Diving

Shares of Chinese companies, including Alibaba Group Holding Ltd - ADR (NYSE: BABA), are trading lower. Concerns over COVID-19 cases in China, as well as U.S. market weakness, have pressured Chinese stocks today.

Benzinga

What's Going On With Nio Shares Today?

Shares of Chinese companies, including Nio Inc - ADR (NYSE: NIO), are trading lower. Concerns over COVID-19 cases in China, as well as U.S. market weakness, have pressured Chinese stocks today.

Benzinga

Biden should give ASEAN leaders face time to improve ties, says Cambodian minister

U.S. President Joe Biden should spend more time with Southeast Asian leaders during a summit in Washington next week if his administration is serious about elevating U.S. ties with the region, where China holds significant sway, a senior Cambodian official told Reuters on Friday.

Reuters

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Benzinga

Chaos Erupts At Apple Plant In China Due To Strict Lockdown

Hundreds of workers at Quanta Computer Inc's (OTC:QUCPY) Shanghai factory manufacturing Apple Inc (NASDAQ:AAPL) devices clashed with authorities and flooded past isolation barriers after weeks under lockdown on May 5, Bloomberg reports. Quanta is a critical partner for Apple, generating over 50% of its revenue from the iPhone-maker as it assembled MacBooks and other devices.…

Benzinga

Goodyear Q1 Earnings Beat Estimates Aided By Cooper Tire, Pricing Actions

Goodyear Tire & Rubber Co (NASDAQ:GT) reported first-quarter FY22 net sales growth of 39.8% year-on-year to $4.91 billion, beating the consensus of $4.65 billion. Cooper Tire merger, improvements in price/mix, higher volume, and increased sales from other tire-related businesses drove the growth. Sales in the Americas rose 63% Y/Y, Europe, Middle East &…

Daily Mirror

Asian Games in China postponed due to spike in coronavirus cases

A rise in cases of coronavirus in China has forced the Olympic Council of Asia to postpone the Asian Games and cancel the Asian Youth Games

Benzinga

Chinese Analyst Who Projected Bearish Reports On Alibaba And Other Chinese Stocks Returns To Twitter

The former China strategist at Bocom International Holdings was active again on Twitter, Inc (NYSE:TWTR) with a forecast on the Nasdaq index, just days after he exited the state-owned brokerage following a ban by Chinese social media, Bloomberg reports. Hong Hao posted a chart on Twitter that compared the Nasdaq's bubble in 2000 to its…

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Los Angeles Times

Can China preserve both its economy and its zero-tolerance COVID-19 policy?

TAIPEI, Taiwan — China's zero-COVID strategy is starting to derail another major item on the government's agenda: economic stability.

Bangkok Post

Asian Games the latest Covid casualty

The Asian Games in September in the Chinese city of Hangzhou have been postponed because of Covid-19 with new dates to be announced “in the near future”, organisers said on Friday.

Caixin Global

Covid Delays 2022 Asian Games in China

The Olympic Council of Asia announces the event won’t take place as scheduled this September in the eastern city of Hangzhou

Benzinga

Morning Brief: Top Financial Stories Dominating on Friday, May 6

Reuters IHG Hotels & Resorts On Way To Recovery As Travel Booms

Benzinga

US Regulators Reach China For Audit Deal Discussions: Reuters

U.S. regulatory officials arrived in Beijing seeking to settle a long-running dispute over the auditing compliance of U.S.-listed Chinese firms, Reuters reported, citing sources. The stand-off, if not resolved, could see Chinese firms kicked off New York bourses. This week the SEC added over 80 firms to the list of companies…

Asharq Al-Awsat

Taiwan Jets Scramble as China Air Force Enters Air Defense Zone

Taiwan's air force scrambled on Friday to warn away 18 Chinese aircraft that entered its air defense zone, Taiwan's defense ministry said, part of what is a regular pattern of incursions that has angered the government in Taipei. Taiwan, claimed by China as its own territory, has complained of repeated…

Caixin Global

Vice President Wang Qishan to Attend South Korean President’s Inauguration

A special representative and close aide of President Xi Jinping, Wang will lead a delegation to Seoul at the invitation of the South Korean government

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