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Business Recorder
18 hours ago
- Automotive
- Business Recorder
China, HK shares rise as banks and carmakers rally; trade talks in focus
HONG KONG: China and Hong Kong shares edged up on Tuesday, as banking stocks hit record highs and automakers rebounded, though investors remained cautious ahead of key developments later in the week. At the close, China's blue-chip CSI300 index gained 0.3%, while the Shanghai Composite index advanced 0.4%, both recovering from earlier losses. Banking stocks led onshore markets higher, with the CSI Banks Index rallying 2% to a record high. Chip stocks also strengthened, with the CSI Semiconductor Index adding 1.4%. In Hong Kong, the Hang Seng China Enterprises Index tracking mainland companies rose 1.9% to bounce back from a one-month low. The city's benchmark Hang Seng Index added 1.5%. Car makers listed in the city bounced, taking a breather from the recent sell-off triggered by a price war at home. The Hang Seng Automobile Index jumped 2.4%, with Li Auto surging 5.8% and BYD climbing 3.9%. On the data front, China's factory activity in May shrank for the first time in eight months, a private-sector survey showed on Tuesday, indicating U.S. tariffs are now starting to directly hurt the manufacturing superpower. HK-listed Chinese shares near one-month low, offshore yuan weakens on tariff concerns U.S. President Donald Trump and Chinese leader Xi Jinping will likely speak this week, White House press secretary Karoline Leavitt said on Monday, days after Trump accused China of violating an agreement to roll back tariffs and trade restrictions. 'A likely return of market volatility in June' is expected due to tariff policy uncertainties and lingering fundamental headwinds seen in macroeconomic data, according to a China equity strategist at Daiwa Capital Markets Hong Kong. 'We reiterate our cautious market views as a market rebound since mid-April may have already factored in a 'good outcome' of the trade war,' he wrote in a note.
India.com
2 days ago
- Automotive
- India.com
Bad news for Noel Tata, this company reports 9% decline in sales, share price fell by…
Tata Motors on Sunday reported a 9 per cent year-on-year decline in total sales at 70,187 units in May. The Mumbai-based auto major had reported total sales of 76,766 units in May 2024. Domestic sales declined 10 per cent year-on-year to 67,429 units, as compared to 75,173 units in the year-ago period Tata Motors said in a statement. Total passenger vehicle sales declined 11 per cent year-on-year to 42,040 units in May. Commercial vehicles sales stood at 28,147 units, as compared to 29,691 units, a dip of 5 per cent. At 9:20 am, shares of the company were trading at Rs 711, lower by 1.2 percent from the last close. Tata Motors declined 2 percent to Rs 707 in morning trade on June 2 after the report of dip in company's vehicle sales. Tata Motors shares are down 3 percent since the beginning of the year. The company reported a 51 percent fall in net profit in the quarter ended March 2025. It posted a consolidated net profit of Rs 17,407 crore in the same quarter last fiscal. Its consolidated total revenue from operations increased 0.4 percent at Rs 1,19,503 crore against Rs 1,19,033 crore in the year-ago period. However, the sales volumes at JLR rose 1.1 percent in the quarter, due to a strong demand for its SUVs in North America and Europe. Jefferies has given an 'underperform' rating on Tata Motors with a target price of Rs 630 per share. (With Inputs From PTI)
Perth Now
3 days ago
- Business
- Perth Now
Huge cost of natural disasters in 2025 revealed
The Treasury has flagged GDP figures may be lower than expected this quarter due to a huge economic loss from natural disasters so far in 2025. New analysis by the Treasury has estimated the immediate loss of economic activity from natural disasters so far in 2025 is $2.2 billion. The huge costs of disasters this year, include the impacts of flooding in the NSW Hunter and mid-North Coast regions, as well as Cyclone Alfred and flooding in western Queensland and Far North Queensland. Most of the loss will affect the March quarter, the Treasury said, which is to be reflected in National Accounts released on Wednesday. The natural disasters have also had an impact on retail trade and household spending, data from the March quarter suggests. Retail trade in Queensland dropped 0.3% in February and 0.4% in March. Household spending was flat nationally, with a 0.2% drop in Queensland contributing. Treasurer Jim Chalmers highlighted the dual focus on human and economic costs, with continued disaster assistance. The huge cost of natural disasters this year, including the impacts of flash flooding on the mid-north coast of NSW as well as Cyclone Alfred in Queensland, have been revealed. SES via NewsWire Credit: NewsWire 'Our government's first priority is helping to fund the recovery and rebuild for communities hit hard by all the heavy weather we're seeing more and more frequently,' he said in a release. 'The human impacts matter to us most, but the economic cost is very significant too and we'll see that in Wednesday's National Accounts. 'The Government will be there for people in disaster hit regions, just like they're there for each other.' Mr Chalmers added they have activated disaster assistance to the Hunter and mid-North Coast regions of NSW. 'Because of the progress Australians have made together in the economy, with inflation down, debt down and unemployment low, we're in a stronger position to provide support when communities need it most,' he said. Meanwhile, Minister for Emergency Management Kristy McBain stressed the importance of preparedness and long-term recovery, with an extra $200 million to be invested via the Disaster Ready Fund in 2025–26. 'Our Government is committed to preparedness and resilience in order to protect communities when disasters strike,' she said. 'We are committed to funding support to increase resilience, adaptability and preparedness. Our Disaster Ready Fund initiative will provide another $200 million of investment in 2025-26.' The huge cost of natural disasters this year, including the impacts of flash flooding on the mid-north coast of NSW as well as Cyclone Alfred in Queensland, have been revealed. SES via NewsWire Credit: News Corp Australia Ms McBain said she has recently been on the ground in NSW, and has seen first hand the effects a disaster can have. 'We have activated multiple disaster payments and we will continue to work with NSW on any other funding requests and I have been meeting with small business and primary producers who have been hit hard,' she said. 'For a lot of these people, it's the cumulative impact of a number of events and we understand that. 'That's why recovery isn't going to be over the next couple of days when cameras and lights are on the area. It's going to be days, weeks and months that we'll walk with these communities.' Leader of the opposition Sussan Ley is expected to visit flood affected communities on the Mid North Coast on Monday morning, along with local MPs.
Time of India
7 days ago
- Business
- Time of India
European shares flat as investors await US trade signals, regional economic data
European shares were little changed on Wednesday as investors awaited progress on trade negotiations with the United States and monitored a slate of economic data from the region. The continent-wide STOXX 600 index held its ground at 552.56 points, as of 0711 GMT, pausing after two consecutive sessions of gains driven by U.S. President Donald Trump 's reversal of tariff threats against the European Union. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Elegant New Scooters For Seniors In 2024: The Prices May Surprise You Mobility Scooter | Search Ads Learn More Undo European Union policymakers have asked the EU's leading companies and CEOs to swiftly provide detail of their U.S. investment plans, according to two sources familiar with the matter, as Brussels prepares for trade talks with Washington. Germany's main stock index edged 0.1% higher, following a record closing peak on Tuesday. Data earlier in the day indicated that German import prices unexpectedly contracted by 0.4% year-on-year in April. All eyes are now on the country's employment data, scheduled for release later in the day. Live Events France's CAC 40 index was up 0.2% after gross domestic product figures showed slight growth in the first quarter, in line with expectations. Shares of Kingfisher fell 2.3% as the home improvement retailer's first-quarter results failed to impress investors. Meanwhile, global markets were focused on upcoming quarterly results from AI chipmaker Nvidia, due after the close of trading on Wall Street.
Fibre2Fashion
26-05-2025
- Business
- Fibre2Fashion
Euro area LEI declines in April, CEI steady; GDP to rise at 0.9%: TCB
The Conference Board Leading Economic Index (LEI) for the euro area declined by 1.0 per cent in April 2025 to 99.9 (2016=100), marking its second consecutive monthly drop following a 0.4 per cent fall in March. The euro area's Leading Economic Index fell 1.0 per cent in April 2025, driven by weakened consumer confidence and sector expectations post-US tariff announcement. The six-month LEI decline slowed to 2.9 per cent. The Coincident Index was unchanged in April, with 0.8 per cent growth over six months. The Conference Board forecasts 0.9 per cent euro area GDP growth for 2025. Over the six-month period from October 2024 to April 2025, the LEI contracted by 2.9 per cent—an improvement compared to the steeper 3.7 per cent decline during the prior six-month span, the TCB said in a release. 'The euro area LEI fell at a steeper rate last month, in the wake of the US tariff announcement on April 2nd. All non-financial components weighed on the Index. In particular, consumer confidence declined while expectations in the service and manufacturing sector weakened,' said Stephanie Guichard, senior economist, at The Conference Board. Meanwhile, the Conference Board Coincident Economic Index (CEI) for the region remained unchanged in April at 110.0, after registering a 0.3 per cent increase in March. The CEI posted a 0.8 per cent rise over the latest six-month period, accelerating from 0.3 per cent growth recorded between April and October 2024. 'Taking into account the impact of US tariffs, the high level of uncertainty and the persistence of geopolitical tensions, The Conference Board projects euro area's real GDP to grow by 0.9 per cent in 2025,' Guichard added. Fibre2Fashion News Desk (HU)
