China has lowered benchmark lending rates as expected at the monthly fixing on Monday, following previous reductions to other policy rates last month as part of a stimulus package to revive the economy. The one-year loan prime rate (LPR) was decreased by 25 basis points to 3.10% from 3.35%, while the five-year LPR was also … Read more
By Jamie McGeever (Reuters) – A preview of what to expect in Asian markets on Monday. As the trading week kicks off in Asia, the global market sentiment remains bullish, driven by the strong performance of U.S. stocks. However, local sentiment is more cautious due to concerns about China’s underlying economic issues. The People’s Bank … Read more
It seems that the once robust Chinese luxury market may be facing some challenges, with changing consumer tastes and a slowdown in the economy impacting spending on luxury goods. The recent stimulus measures announced by the Chinese government have provided some hope for a revival in luxury spending, but analysts are skeptical about whether this … Read more
Customers are shopping at the new Costco store in Nanjing, Jiangsu Province, China on May 28, 2024. The National Bureau of Statistics reported better-than-expected retail sales and industrial production for September in China. Retail sales grew by 3.2% from a year ago, surpassing analysts’ expectations of 2.5% growth. This growth rate was higher than the … Read more