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The Latest Breaking News from China

Why Alibaba Shares Are Getting Hammered Today

Alibaba Group Holding Ltd - ADR (NYSE: BABA) shares are trading lower by 4.75% at $83.09. Shares of Chinese companies are trading lower in possible reaction to US President Biden's recent unveiling of the Indo-Pacific Economic Framework to counter China's influence in the region.

Benzinga

Soros says Ukraine may be start of World War Three

Billionaire financier George Soros said on Tuesday that Russia's invasion of Ukraine may have been the beginning of World War Three so the best way to preserve free civilisation was for the West to defeat President Vladimir Putin's forces.

Reuters

In Asia, Biden pushes values he struggles to sell at home

Joe Biden spent his first presidential trip to Asia strengthening economic and military commitments

The Independent UK

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Guardforce AI Acquires Eight Companies In China For $30M

Guardforce AI Co Ltd (NASDAQ:GFAI) (NASDAQ:GFAIW) entered into two definitive agreements to acquire eight companies in China for $30 million. The deal will be paid in a combination of cash (10%) and restricted ordinary shares of GFAI (90%) at an agreed price of $2/share. As per the first agreement, GFAI will acquire Beijing…

Benzinga

U.S. takes on China’s repression of overseas dissidents

The government is taking action to protect people on U.S. soil.

Axios

Hong Kong Catholic cardinal criticises China deal after national security arrest

Hong Kong's Cardinal Joseph Zen - in his first public remarks since he was arrested in a national security case earlier this month - on Tuesday criticised the Vatican for its "unwise" deal with China that is due for renewal in September.

Reuters

Shanghai: world's biggest port is returning to normal, but supply chains will get worse before they get better

Shanghai is slowly emerging from a gruelling COVID lockdown that has all but immobilised the city since March. Although Shanghai’s port, which handles one-fifth of China’s shipping volumes, has been operating throughout, it has been running at severely reduced capacity. Many shipments have either been cancelled, postponed or rerouted to…

The Conversation

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Dismal APAC Performance, Higher Freight Costs, FY22 Outlook Cut: Abercrombie & Fitch's Q1 Highlights

Abercrombie & Fitch Co (NYSE:ANF) reported first-quarter FY22 sales growth of 4% year-on-year to $813 million, beating the consensus of $799.31 million. Net sales from the Hollister brand decreased 3% Y/Y, and Abercrombie rose 13%. Sales in the U.S. climbed 6% Y/Y, and EMEA rose 3%. APAC sales fell 35% impacted by COVID…

Benzinga

Is Tencent Past the Worst as Government Sends Easing Signals?

Key Takeaways: Tencent reported its first quarter profit fell 22.9%, but the market believes the worst is past after Beijing’s recent end to its freeze on new game approvals

Benzinga

Vipshop Takes Defensive Posture As Headwinds Mount

Key Takeaways: Vipshop’s revenue fell 11% in the first quarter, and it forecast the decline would accelerate to as much as 25% in the current quarter Company last month authorized a new $1 billion share repurchase program after buying back $500 million of shares over the previous year By Doug…

Benzinga

Australian prime minister attacks China at Quad and backs Biden’s stand on Taiwan

‘It’s China that has applied sanctions on Australia. There is no justification for doing that’

The Independent UK

Chinese Foreign Minister Wang Yi visiting multiple nations as Pacific push continues

The Chinese government confirms the diplomatic tour will focus on building trust and relationships within the Pacific region.

ABC News

Japan scrambles jets after 'provocative' flyby by Russia and China warplanes on Tokyo's big day

Leaders of the US, Australia and India are currently attending the Quad summit

Wales Online

Biden on Taiwan: Did he really commit US forces to stopping any invasion by China? An expert explains why, on balance, probably not

The White House has been left scrambling a little after President Joe Biden suggested on May 23, 2022, that the U.S. would intervene militarily should China attempt an invasion of Taiwan.

The Conversation

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Reuters

U.S. says China and Russia bomber drill shows depth of their alignment

A joint strategic bomber exercise by Russia and China in East Asia on Tuesday shows the depth of the two countries' alignment, a senior U.S. administration official said.

Bangkok Post

China, Russia conduct joint aerial patrol in military exercise

Chinese and Russian militaries conducted a joint aerial patrol on Tuesday, China's defence ministry said.

Reuters

China and Russia hold first military exercise since Ukraine invasion

China and Russia's air forces conducted a joint aerial patrol on Tuesday over the Sea of Japan, East China Sea and the Western Pacific, China's defence ministry said.

The Guardian - UK

Thousands of detained Uyghurs pictured in leaked Xinjiang police files

Documents detailing shoot-to-kill policy for people who try to escape published as UN human rights chief visits region

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Caixin Global

China’s Foreign Minister to Visit South Pacific Island Nations After Security Pact With Solomon Islands

Wang Yi’s trip will take him to the Solomon Islands, Kiribati, Samoa, Fiji, Tonga, Vanuatu, Papua New Guinea and East Timor

Benzinga

Morning Brief: Top Financial Stories Dominating on Tuesday, May 24

CNBC

The New Daily

Tokyo shift: Albanese signals new foreign policy focus

Prime Minister Anthony Albanese has named climate change a major regional security issue as he signals a strategic policy shift at the Quad leaders meeting.

The Hindu

Jaishankar meets U.S., Japanese counterparts in Tokyo

Foreign Ministers of India, Japan and the U.S. discusses regional, global issues

The Guardian - UK

Nato head warns over risks of close economic ties with Russia and China

Jens Stoltenberg tells business leaders in Davos that values should matter more than profits

The Independent UK

Japan scrambles jets as warplanes from Russia and China approach airspace during Quad summit

Japan says Chinese bombers met Russian bombers and ‘made a joint flight to the East China Sea’

The Japan News/Yomiuri

IPEF economic framework launched without tariff reductions

The U.S.-led Indo-Pacific Economic Framework (IPEF) was launched Monday, with the pact positioned as an alternative to the Trans-Pacific Partnership free trade agreement as part of Washington's efforts to counter China.

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