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Why the drop in China’s stock market might not reflect its economic reality

“China’s stock market is in terrible shape, but it may not reflect the state of the Chinese economy” writes Zhang Peng for cnbc.com. He agreed with Cashin’s point that the Chinese stock market is not very efficient and does not necessarily reflect underlying economic realities.”In highly efficient full-production places like the U.S., the stock market is reflective somewhat to what the economy is doing.Kudlow simply may have looked at the Chinese stock market.The Shanghai market staged a huge rally from 2014 into 2015, more than doubling in value, but again…

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Chinese stocks are now at their lowest level since 2016

“The index was down 4.5% for the week with the bear market in Chinese stocks showing no signs of abating” writes Business Insider Australia for businessinsider.com. REUTERS/Kim Kyung-Hoon China’s Shanghai Composite index fell again on Friday to cap a five-day losing streak.The benchmark index fell 1.33%.Chinese currency — both the offshore traded (CNH) and onshore traded (CNY) — held steady at just below 6.8 per US dollar. Source: businessinsider.com Share This:

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The next round of US-China trade talks ‘may not amount to much’

“And while the trade talks sparked bullish sentiment in the US, Chinese stocks still fell into the close following the trade announcement” writes Business Insider Australia for businessinsider.com. “We are sceptical that the forthcoming resumption of trade talks will lead to a deal.”. In addition, “the resumption of trade talks between the US and China may not amount to much,” economist John Higgins said.Stocks in China will probably fall further despite a glimmer of hope on US-China trade tensions, Capital Economics (CE) says. Source: businessinsider.com Share This:

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Turkey crisis sends Asian stocks tumbling to one-year low

“Asian stocks fell to a one-year low on Wednesday, as investors in Chinese markets, already rattled by the Turkish financial crisis, turned more cautious” writes Caitlin Morrison for independent.co.uk. Meanwhile, investor sentiment towards emerging markets remained downbeat due to weakness in the Turkish lira, with markets shifting towards the dollar, which is seen as a safe haven investment.The lira stabilised somewhat on Tuesday, but is still significantly weaker against the dollar, with $1 buying 6 lira.Analysts also warned that simmering trade tensions between China and the US were a factor…

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Tesla appears to be on a hiring spree in the US and in China two months after laying off 9% of its employees

“As of Thursday afternoon, Tesla’s website listed 22 job openings in Shanghai, with 16 of those openings located at the upcoming Gigafactory” writes Mark Matousek for businessinsider.com. Tesla’s website also lists job openings at its upcoming Gigafactory in Shanghai, where it plans to eventually produce around 500,000 vehicles and battery packs per year.In an email to employees , CEO Elon Musk said the layoffs were part of the company’s effort to become profitable.In its second-quarter earnings letter, the company said it expects to begin construction “within the next few quarters,”…

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Tesla starts hiring for new $2 billion Shanghai plant

“The 21st Century Herald newspaper, which reported the job postings on Tuesday, said Tesla began advertising the roles on Sunday” writes Midwest Communications Inc for 95kqds.com. BEIJING/SHANGHAI (Reuters) – Tesla Inc has started hiring for its new Shanghai factory, according to job postings on its website, just a month after the U.S. electric vehicle (EV) maker signed agreements with local authorities for the $2 billion project.Most of the positions are senior in level and require at least six years’ experience, the job descriptions showed. Source: 95kqds.com Share This:

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China loses status as world’s second-largest stock market amid trade war with US

“That compared to the $6.16 trillion market value of the Japanese shares at the end of the Thursday trading session” writes Cheang Ming for cnbc.com. China’s market surpassed Japan in market value in November 2014 to become the world’s second-largest, the FT said.Chinese shares ceded their ranking as the second-largest stock market in the world to Japan, the Financial Times reported on Friday.The U.S. stock market, which continues to be the world’s largest, was valued at $31 trillion at the end of Thursday, it added.Chinese stocks were worth a total…

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Markets News Oil 

The first company to ever reach $1 trillion in market value was in China and got crushed

“PetroChina’s market cap hit $1 trillion in 2007 following a successful debut on the Shanghai Stock Exchange on Nov. 5 of that year” writes China Photos for cnbc.com. Apple closed 2.9 percent higher at $207.39 a share on Thursday, pushing its market cap to $1 trillion and making it the first U.S. publicly traded company to reach the mark.The company’s Hong Kong-listed stock is down more than 20 percent since the start of 2009.Before Apple hit $1 trillion in market value Thursday, there was Chinese oil giant PetroChina, which reached…

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China Eastern, Japan Airlines link up as more Chinese tour Japan

“SHANGHAI (Reuters) – China Eastern Airlines Corp Ltd and Japan Airlines Co Ltd (JAL) on Thursday said they would form a joint venture to tap into the growing number of Chinese tourists visiting Japan, the first such deal between a Chinese and Japanese carrier” writes Midwest Communications Inc for 95kqds.com. The deal includes plans for its domestic network featuring over 50 cities in Japan and over 80 on China’s domestic routes operated by China Eastern, it said. Source: 95kqds.com Share This:

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China to investigate online discounter Pinduoduo over reports of illegal practices

“China’s markets regulator said on Wednesday it has asked Shanghai regulators to investigate online group discounter Pinduoduo regarding media reports about counterfeit goods and intellectual property infringements on the platform” writes unknown author for cnbc.com. The regulators will deal seriously with any illegal practices found on the platform, the State Administration for Market Regulation said on its website. Source: cnbc.com Share This:

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