UK needs ‘more diplomacy’ with China, says Lammy October 19, 2024 The UK approach to China needs “more diplomacy, not less”, the Foreign Secretary has said on his first official visit to the country. David Lammy said the Government would bring “consistency” to relations with China, adding there had not been “sufficient contact” between London and Beijing under his predecessors, particularly on human rights issues. His [...]
Oil prices slide on Israel vow to avoid Iran refineries with retaliation October 15, 2024 Oil prices tumbled by over four per cent on Tuesday after soft economic readings from China and reports that Israel has assured the US it would avoid oil and nuclear facilities in its expected retaliation on Iran. The price of Brent crude dropped 4.4 per cent – or $3.42 (£2.61) a barrel – and WTI [...]
Ashmore rebounds thanks to emerging market surge October 14, 2024 Emerging markets-focused investment manager Ashmore saw assets surge over the last three months, turning around a years-long trend of poor performance for the asset manager. Assets under management at the fund house increased by $2.5bn (£1.9bn) over the quarter to 30 September thanks to $3.2bn (£2.4bn) of positive investment performance, with investors only withdrawing $700m [...]
China flags more fiscal stimulus for economy, leaves out key details on size October 12, 2024 China pledged on Saturday to “significantly increase” debt to revive its sputtering economy, but left investors guessing on the overall size of the stimulus package, a vital detail to gauge the longevity of its recent stock market rally. Finance Minister Lan Foan told a press conference Beijing will help local governments tackle their debt problems, [...]
Are UK investors going to get burned by volatile Chinese stocks? October 9, 2024 The Chinese stock market is on a roll, seeing its best week since 2008 followed by its worst day since 1997 since the country’s central bank announced sweeping stimulus measures. The seesawing back and forth experienced by UK investors diving into the Chinese stock market might be scary, with many worrying the strong growth over [...]
Shares in spirits companies drop after ‘tit-for-tat’ Chinese brandy tariff October 8, 2024 Shares in international drinks companies fell this morning after China slapped an anti-dumping tariff on brandy imports from the EU, escalating trade tensions. The move from China came only days after the EU imposed a tariff of 45 per cent on Chinese electric vehicles for the next five years. The European Commission called it an “abuse” of [...]
China funds dominate September as London’s AIM slumps October 1, 2024 China funds dominated performance tables in September following Beijing’s economic pledges, while UK smaller companies funds sagged over rumours that taxes on AIM may rise. The average China fund grew by more than 16 per cent throughout September, with almost all that growth coming in the last week of the month. “The top 44 funds [...]
Aston Martin shares crater as supply chain disruption scuppers production ramp up September 30, 2024 Aston Martin had put its hopes on a production ramp up in the second half after losses widened in the firm's half-year results in July.
Chinese stocks post best week since 2008 September 29, 2024 Chinese and China-focused stocks posted their best week since 2008 last week, with the CSI 300 index shooting up 15.7 per cent after strong economic stimulus measures were put in place by the country’s government. Every index tracking Chinese stocks benefited from the measures, with Hong Kong’s Hang Seng index rising more than 13 per [...]
Huawei: Chinese firm reduced to a shadow of former size as UK restrictions bite September 25, 2024 Turnover at the UK arm of Chinese telecommunications giant Huawei has been slashed by more than £1bn since 2019 as the impact of UK and US restrictions bite. The London-headquartered business has reported a turnover of £229.56m for 2023, down from the £359m it posted in 2022. The latest figure comes after Huawei’s turnover totalled [...]