2 hours ago
European markets open mixedly
European markets started the new trading week in mixed territory, with the pan-European Stoxx 600 index rising slightly, rising 0.03%.
Britain’s FTSE 100 index rose 0.07% to 8,439, Germany’s DAX fell 0.13% to 18,748, France’s CAC fell 0.4% to 8,216 and Italy’s FTSE MIB rose 0.4% to 34,808.
7 hours ago
China is reportedly planning to issue $138 billion worth of long-term bonds.
China has reportedly begun a plan to sell 1 trillion yuan ($138.24 billion) of ultra-long-term bonds, the Financial Times and Reuters reported.
The Financial Times reported that the People’s Bank of China had “sought advice from brokers on setting the price for the first round of sovereign bonds.”
Meanwhile, Reuters reported, citing sources, that the 20-year bond will be worth 300 billion yuan, the 30-year bond will be worth 600 billion yuan, and the 50-year bond will be worth 100 billion yuan. I was told that it would be issued.
These ultra-long-term bonds were announced in March and are aimed at funding major projects in line with the national strategy.
These bonds have only been issued three times so far: during the Asian Financial Crisis in 1998, for the capitalization of China Investment Corporation in 2007, and during the COVID-19 pandemic in 2020.
— Lim Huijie
8 hours ago
Amid high hurdles in the US, Mr. Shein is reported to be accelerating preparations for an IPO in London.
China’s Shine is ramping up preparations for a London listing after plans to list in New York were hit by regulatory challenges, Reuters reported, citing people familiar with the matter.
The fast-fashion retailer plans to file documents with the London Stock Exchange (LSE) as early as this month, according to the report, and will provide an update to China’s securities regulator, the site of its IPO.
Mr. Schein filed for an initial public offering worth $66 billion in the U.S. in late November.
—Shreyashi Sanyal, Reuters
10 hours ago
China’s April inflation rate was slightly higher than expected
Consumer prices in China rose faster than expected, with the consumer price index rising 0.3% year-on-year in April, according to data released by the National Bureau of Statistics on Saturday.
This beat the 0.2% rise expected by economists polled by Reuters and also exceeded the 0.1% rise in March.
Separately, China’s producer price index fell by 2.5% compared to April last year (down 2.8% in the previous month).
— Lim Huijie
11 hours ago
Stocks face key turning point this week due to April inflation data
Wednesday’s Consumer Price Index report will provide much-needed insight into where the Federal Reserve will take monetary policy going forward.
Inflation has been rising in recent months, raising concerns that price pressures could rise consistently again. Central Bank Chairman Jerome Powell said last month that the Fed’s next action likely won’t be to raise rates, reiterating its data-dependent approach. This trend is providing a tailwind for stocks that have built a stable footing thanks to strong first-quarter results.
Still, Wednesday’s CPI results will be the real test for investors on whether rate hikes are really out of touch with reality.
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— Brian Evans
12 hours ago
