4 Hours AgoChina says U.S. lodged ‘false accusations’ towards it in WTO compliance reportChina’s Ministry of Trade stated Monday that the U.S. had made “false accusations” towards China in a file that denied its contribution to the Global Business Group, native media reported.The ministry added that China has all the time firmly supported the multilateral buying and selling machine and fulfilled its WTO commitments.—Lee Ying Shan5 Hours AgoXiaomi falls amid broader decline in EV stocks forward of showcasing its electrical car in BarcelonaChinese smartphone corporate Xiaomi published on Dec. 28, 2023, its imminent electrical automotive, the SU7 sedan.CNBC | Evelyn ChengHong Kong-listed stocks of Xiaomi fell 1% in noon buying and selling Monday amid a broader decline in stocks of electrical car makers.The Chinese language smartphone corporate stated it has recognized a client area of interest that may pay up for its upcoming electrical automotive.”We predict it is a excellent place to begin for us within the top rate section as a result of we’ve already 20 million top rate customers in China in keeping with the smartphone,” Weibing Lu, Xiaomi Staff President instructed CNBC forward of the auto’s global expose on the Cell Global Congress in Barcelona, which begins Monday.”I feel the preliminary purchases can be very overlapped with the smartphone customers,” Lu stated.Stocks of Chinese language EV maker Nio fell just about 5%, whilst Xpeng shed just about 1%. Hong Kong’s Grasp Seng index fell 0.7% by way of noon buying and selling.— Shreyashi Sanyal, Evelyn Cheng5 Hours AgoSouth Korea unveils measures to take on ‘Korea cut price’, spice up inventory marketsSouth Korea’s monetary regulatory frame introduced steps to higher company governance on Monday, taking a leaf out of Japan’s playbook, to spice up its undervalued inventory markets and cope with the “Korea cut price.”Korea’s Monetary Services and products Fee supplied main points on its “Company Worth-up Program,” which goals to prioritize shareholder returns thru more than a few incentives together with tax advantages.Korean government said the similarities in its program with that of Japan’s, which has observed Tokyo markets hitting file highs for the primary time in 34 years.The FSC stated it is going to additionally introduce the “Korea Worth-up Index” for institutional traders, together with pension price range.— Shreyashi Sanyal6 Hours AgoVeteran investor David Roche would slightly spend money on India, Indonesia and Japan than ChinaVeteran investor David Roche, would slightly spend money on India, Indonesia and Japan slightly than China.”It is undoubtedly the place I might have extra money than I might in China this present day,” the president of Impartial Technique instructed CNBC’s “Squawk Field Asia” when requested about possibilities for India and Indonesia. “I might additionally, by way of the best way, nonetheless have extra money in puts like Japan than I might in China,” he added.Roche famous that there are many firms in China which can be “essentially reasonable,” however primary issues akin to deflation nonetheless plague the financial system. Nonetheless, Roche stated Chinese language markets might be in for a jump.”When markets fall up to China has executed, they are in for a jump,” he stated.—Lee Ying Shan8 Hours AgoChina de-linking communicate is overdone, Asian Construction Financial institution saysChina remains to be a important buying and selling spouse for plenty of nations the world over, and the often-used narrative of the superpower being delinked from the worldwide financial system is overdone, says the Asian Construction Financial institution. “China’s nonetheless most certainly the #1 buying and selling spouse for almost all of nations on the planet,” ADB’s Leader Economist Albert Park instructed CNBC. “The tale of China being delinked from the worldwide financial system — I feel the ones are most certainly usually very overdone or very partial.”The commercial powerhouse stays a most sensible buying and selling spouse to over 120 nations, and remains to be the biggest buying and selling spouse to Japan, South Korea, Taiwan and Vietnam, consistent with U.S. assume tank Wilson Middle.China additionally continues to play an oversized function within the world financial system as the sector’s greatest buying and selling financial system even with business tensions between China and the U.S. festering since 2018.—Lee Ying Shan9 Hours AgoJapan services and products PPI clocks smaller year-on-year build up in January Other folks commuting to paintings within the morning go a pedestrian crossing in Tokyo on February 15, 2024. Kazuhiro Nogi | AFP | Getty ImagesJapan’s services and products manufacturer worth index clocked a smaller year-over-year build up in January, consistent with reliable information.The services and products PPI rose 2.1% in January from the former 12 months. The studying used to be smaller than a 2.4% build up recorded in December.Japan’s services and products PPI, alternatively, fell 0.5% in January from December.Markets in Japan opened upper on Monday, with the Nikkei 225 index hitting a contemporary file prime and used to be ultimate buying and selling 0.48% upper. The wider Topix index added 0.64%.— Shreyashi Sanyal10 Hours AgoCNBC Professional: The ‘best possible’ funding at this time: Fund supervisor choices shares with nearly 15% overall returnsInvestors searching for to give protection to their portfolio from the danger of inflation re-emerging in 2024 can pick out up 3 “long-term defensive” shares with excellent “inflation-linked” income, consistent with Freddie Lait, leader funding officer at Latitude Funding Control.Lait, as soon as a Goldman Sachs analyst, believes those shares can develop 10-15% a 12 months whilst performing as a hedge towards inflation.CNBC Professional subscribers can learn extra right here.— Ganesh Rao10 Hours AgoCNBC Professional: Is it too past due to shop for Nvidia stocks? Here is what Wall Side road saysThe buzz round Nvidia presentations no signal of abating, with the chip large posting some other quarter of multi-billion greenback income upside.The corporate, which had already rocketed over 200% in 2023, rose 13% upper at the again of its income file. This 12 months on my own, it has risen round 58%, with Nvidia ultimate last round $785 on Thursday.However simply how a ways can Nvidia move? Here is what analysts are pronouncing. CNBC Professional additionally scoured thru reviews this week to listing the newest worth objectives given to Nvidia by way of primary Wall Side road banks.CNBC Professional subscribers can learn extra right here.— Weizhen TanFri, Feb 23 2024 4:09 PM ESTS&P 500 is little modified Friday, however ends the week higherHere’s how the key indexes closed on Friday:— Pia SinghFri, Feb 23 2024 3:35 PM ESTJamie Dimon sells $150 million of JPMorgan Chase stockJPMorgan Chase & Co CEO Jamie Dimon arrives for a Senate Banking, Housing, and City Affairs Committee listening to on Capitol Hill September 22, 2022 in Washington, DC. Drew Angerer | Getty ImagesJPMorgan Chase CEO Jamie Dimon bought about 800,000 stocks of the financial institution on Thursday, producing about $150 million, consistent with a securities submitting and VerityData.The transfer gave the look to be a part of 10b5 plan for company executives to promote their inventory.Dimon nonetheless owns about 7.7 million stocks of JPMorgan, consistent with VerityData.— Jesse PoundFri, Feb 23 2024 3:28 PM ESTInvestors will have to ‘purchase the dip’ in giant tech, wealth supervisor saysAI-adjacent giant tech shares have propelled the fairness marketplace to new highs, however there may just nonetheless be more space forward for features.In reality, UBS Non-public Wealth Control’s Greg Marcus believes that traders will have to make the most of marketplace volatility to shop for into giant tech.”There can be pullbacks and volatility over the following few months and we’re supportive of the purchase the dip mentality relating to giant tech,” he stated.But even so being beneficiaries of the substitute intelligence theme, Marcus additionally identified that many giant tech companies have sturdy stability sheets and income expansion possible, traits that may climate a better rate of interest surroundings.Alternatively, the wealth supervisor additionally underscored that the marketplace rally is prone to increase in 2024.”Whilst we think a persisted resilience in tech shares, we additionally be expecting a much less dramatic, albeit nonetheless heavy, center of attention at the Magnificent 7,” he stated.— Lisa Kailai Han
