By Jacob Gu and John Cheng Morgan Stanley cut its rating on Chinese stocks to equal weight Wednesday, saying investors should capitalize on a rally spurred by government stimulus pledges to take profits. Chinese assets have gotten a boost in recent days amid a slew of promises from Beijing to… Continue reading Morgan Stanley cuts rating on China stocks, asks investors to take profits
Tag: China
BlackRock, MSCI draw scrutiny from US congressional committee on China
A US congressional committee on China said asset management giant BlackRock and index provider MSCI were facilitating investments into blacklisted Chinese companies. The firms have facilitated American capital flow into the companies the U.S. government had found guilty of fueling China’s military advancement or human rights abuses, the House of Representatives’ Select… Continue reading BlackRock, MSCI draw scrutiny from US congressional committee on China
4 dead, tens of thousands evacuated, millions under ‘red alert’ in China
A resident wearing a rain cover stands on a flooded road in Zhengzhou, Henan province, China. (Photo: Reuters) Torrential rains have damaged roads and killed four people in Beijing, state media reported on Monday, as remnants of Typhoon Doksuri lashed the Chinese capital and other northern regions. The people were found dead Monday morning… Continue reading 4 dead, tens of thousands evacuated, millions under ‘red alert’ in China
China factory activity shrinks in July, adds to pressure to reverse slump
Demand for Chinese exports weakened after U.S. and European interest rates were raised to cool record-breaking inflation | Photo: Bloomberg Chinese factory activity contracted in July as export orders shrank, a survey showed Monday, adding to pressure on the ruling Communist Party to reverse an economic slowdown. A purchasing managers’ index issued by… Continue reading China factory activity shrinks in July, adds to pressure to reverse slump