SHANGHAI : Asian share markets broke a five-day slide to edge higher on Thursday, shrugging off drops in Europe and on Wall Street overnight as China underscored its diverging monetary and economic picture by cutting benchmark mortgage rates.
U.S. President Joe Biden predicted on Wednesday that Russia will make a move on Ukraine, saying a full-scale invasion would be"a disaster for Russia" but suggesting there could be a lower cost for a"minor incursion." "There comes a point when you've offloaded, you might want to stop offloading. If bonds start to rally a little bit, and you saw yields ease off yesterday in the U.S., it kind of feels like ... we might actually not get a follow-through today," said Matt Simpson, senior market analyst at City Index in Sydney.
China's blue-chip CSI300 index rose 0.7per cent on Thursday morning and Hong Kong's Hang Seng added more than 1.4per cent. The rise in Chinese shares boosted MSCI's broadest index of Asian shares outside Japan which added 0.54per cent. The Dow Jones Industrial Average fell 0.96per cent and the S&P 500 lost 0.97per cent. The Nasdaq Composite dropped 1.15per cent, putting it more than 10per cent below its Nov. 19 record closing high to confirm a correction.
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China condemns plans by Slovenia to upgrade Taiwan tiesChina on Wednesday condemned plans by Slovenia to upgrade relations with self-governing Taiwan, a move likely to spark diplomatic and economic retaliation against the tiny Central European country. Chinese Foreign Ministry spokesperson Zhao Lijian said China was “shocked by this and strongly opposed to it,” but gave no immediate details on how Beijing would respond. “It is a dangerous statement made by the Slovenian leader that overtly challenges the one-China principle and supports Taiwan independence,' Zhao told reporters at a daily briefing, referring to comments Monday by Slovenia’s Prime Minister Janez Jansa. Why is CCP always crying over spilled milk?
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China ready to offer digital yuan payment services to Olympics visitorsSHANGHAI : China is ready to provide digital yuan payment services to the Beijing Winter Olympics visitors, the country's central bank said on Wednesday.The world's second largest economy is going to globally showcase its digital currency, dubbed e-CNY, for the first time during the Olympics game next mon
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China forced 2,500 ‘fugitives’ back from overseas during pandemic, report findsMethods used in Sky Net program range from family intimidation to state-sanctioned kidnappings, says rights group
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