China's ‘New Consumers' Don't Want a House. They Want Labubu and Bubble Tea.
Investors are cashing in.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
29 minutes ago
- Yahoo
Asian stocks climb, dollar droops on Fed easing bets
By Kevin Buckland TOKYO (Reuters) -Asian equities rose on Thursday, with Japanese shares hitting a record high, as tech-led gains on Wall Street, upbeat earnings and growing expectations for U.S. rate cuts boosted sentiment. The prospect of a meeting between U.S. President Donald Trump and Russian President Vladimir Putin over the war in Ukraine also underpinned sentiment, benefitting the euro, while weighing on oil prices as traders gauged the outlook for sanctions on Moscow. Sterling held its ground at a one-week high going into the Bank of England's policy announcement later in the day, with a quarter-point cut widely expected, and the focus falling on a possible three-way split within the board. At the same time, markets largely shook off Trump's latest tariff threats, including an additional 25% tariff on India over purchases of Russian oil and a threatened 100% duty on chips. Japan's broad Topix index rose 0.9% to reach an all-time high, with the more tech-focused Nikkei also gaining by about the same margin. Taiwan's stock benchmark surged 2.3% to a more than one-year peak. South Korea's KOSPI added 0.6%. Hong Kong's Hang Seng rose 0.4%, and mainland Chinese blue chips advanced 0.3%. Australian shares edged slightly lower after hitting a record high on Wednesday. U.S. stock futures were buoyant, with those for the S&P 500 up 0.3% and those for the Nasdaq also rising 0.3%. On Wednesday, the S&P 500 climbed 0.7% and the Nasdaq Composite jumped 1.2%. "Wall Street seems to have gotten its mojo back," analyst Kyle Rodda wrote in a note. "However, there are persistent risks to the downside. Downside surprises in official data are increasing," he said. "Valuations are also stretched, with forward price to earnings hovering around the highest in four years. And trade uncertainty persists." The U.S. dollar remained lower against major peers on Thursday, with expectations of easier policy from the Federal Reserve stoked both by some disappointing macroeconomic indicators - not least Friday's payrolls report - and Trump's move to install new picks on the Fed board that are likely to share the U.S. President's dovish views on monetary policy. Focus is centring on Trump's nomination to fill a coming vacancy on the Fed's Board of Governors and candidates for the next chair of the central bank, with current Chair Jerome Powell's tenure due to end in May. The dollar index, which gauges the currency against the euro, sterling and four other counterparts, gained slightly to 98.245, after dropping 0.6% on Wednesday. The euro was little changed at $1.1657, following the previous session's 0.7% jump. Sterling was steady at $1.3356. The BoE looks poised to cut interest rates for the fifth time in 12 months later on Thursday, but nagging worries about inflation are likely to split its policymakers and cloud the outlook for its next moves. Two Monetary Policy Committee members may push for a half-point rate cut, and two may lobby for no change. The dollar added 0.1% to 147.53 yen. Gold gained 0.4% to around $3,382 per ounce, buoyed by the weaker dollar. Crude oil clawed back some losses from Wednesday, when both Brent and West Texas Intermediate slid about 1%. Brent crude futures were last up 20 cents, or 0.3%, at $67.09 a barrel, while U.S. West Texas Intermediate crude gained 22 cents, or 0.3%, to $64.57 a barrel. Sign in to access your portfolio
Yahoo
29 minutes ago
- Yahoo
Jiayin Group Inc. Releases 2024 Environmental, Social and Governance (ESG) Report
SHANGHAI, China, Aug. 07, 2025 (GLOBE NEWSWIRE) -- Jiayin Group Inc. ('Jiayin' or the 'Company') (NASDAQ: JFIN), a leading fintech platform in China, today published its 2024 Environmental, Social, and Governance (ESG) Report. This publication, the Company's fourth ESG report, highlights Jiayin's ongoing commitment to corporate sustainability, ethical business practices, and transparent governance. In 2024, guided by sustainable development, Jiayin strengthened its foundation through governance optimization, redefined service boundaries through technological innovation, and united ecosystem synergy through shared responsibility. We advanced the fintech industry toward greater intelligence, security, and inclusiveness, generating long-term value for all stakeholders. The Report is prepared in accordance with the Global Reporting Initiative's Sustainability Reporting Standards (GRI Standards), with reference to Nasdaq's ESG Reporting Guide 2.0. To download the full report in English or Chinese, please visit the ESG section of the Company's investor relations website at: About Jiayin Group Group Inc. is a leading fintech platform in China committed to facilitating effective, transparent, secure and fast connections between underserved individual borrowers and financial institutions. The origin of the business of the Company can be traced back to 2011. The Company operates a highly secure and open platform with a comprehensive risk management system and a proprietary and effective risk assessment model which employs advanced big data analytics and sophisticated algorithms to accurately assess the risk profiles of potential borrowers. For more information, please visit Safe Harbor / Forward-Looking StatementsThis announcement contains forward-looking statements. These statements are made under the 'safe harbor' provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as 'will,' 'expects,' 'anticipates,' 'future,' 'intends,' 'plans,' 'believes,' 'estimates' and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. Potential risks and uncertainties include, but are not limited to, those relating to the Company's ability to retain existing investors and borrowers and attract new investors and borrowers in an effective and cost-efficient way, the Company's ability to increase the investment volume and loan facilitation of loans volume facilitated through its marketplace, effectiveness of the Company's credit assessment model and risk management system, PRC laws and regulations relating to the online individual finance industry in China, general economic conditions in China, and the Company's ability to meet the standards necessary to maintain listing of its ADSs on the Nasdaq Stock Market or other stock exchange, including its ability to cure any non-compliance with the continued listing criteria of the Nasdaq Stock Market. All information provided in this press release is as of the date hereof, and the Company undertakes no obligation to update any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. Further information regarding risks and uncertainties faced by the Company is included in the Company's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. For investor and media inquiries, please contact: Jiayin GroupMs. Emily LuEmail: ir@ while retrieving data Sign in to access your portfolio Error while retrieving data
Yahoo
29 minutes ago
- Yahoo
Japanese population sees record drop in 2024
The population of Japanese nationals fell by a record amount -- more than 900,000 people -- in 2024, official data showed, as the country battles to reverse its perennially low birth rates. While many developed countries are struggling with low birth rates, the problem is particularly acute in Japan where the population has been declining for years. Prime Minister Shigeru Ishiba has called the situation a "quiet emergency", pledging family-friendly measures like more flexible working hours and free day care to try and reverse the trend. Last year, the number of Japanese fell by 908,574, or 0.75 percent, to 120.65 million. The decline -- for a 16th straight year -- was the largest drop since the survey began in 1968, the internal affairs ministry said Wednesday. Foreign resident totals, however, were at their highest since records began in 2013. There were 3.67 million foreigners as of January 1, 2025, representing nearly three percent of the whole population in Japan, which was more than 124.3 million as of that date. The overall population of the country declined by 0.44 percent from 2023. The latest figures come as the government struggles to raise stubbornly low birth rates, while frustration over inflation and other concerns among some voters prompted the rise of a new opposition party with a slogan of "Japanese First". The anti-immigrant party has falsely claimed foreigners enjoy more welfare benefits than Japanese nationals. By age, Japanese nationals aged 65 and over accounted for nearly 30 percent of the population, while the age group between 15 and 64 made up 60 percent, both minor increases from the previous year. Japan has the world's second-oldest population after tiny Monaco, according to the World Bank. The number of births in Japan last year fell below 700,000 for the first time on record, health ministry data released in June said. The fast-ageing nation welcomed 686,061 newborns in 2024 -- 41,227 fewer than in 2023, the data showed. It was the lowest figure since records began in 1899. kh/aph/sco
