Latest news with #USChinaTensions
Bloomberg
22-05-2025
- Business
- Bloomberg
Singapore DPM Says Holding Geopolitical Neutrality Not Possible
Singapore's Deputy Prime Minister Gan Kim Yong said neutrality is not possible, highlighting the rising challenges for the city-state that has long sought to tread a diplomatic tightrope amid US-China trade tensions. 'If you try to be neutral and walk the middle road, the road is getting narrow and narrower, eventually you will be at a knife's edge and you won't be able to stand on it,' Gan said at a conference hosted by UBS Group AG in Singapore. 'The key is we have to take sides, we have to take position, we have to do so based on principles.'
Yahoo
17-05-2025
- Business
- Yahoo
WTO Chief ' Very Encouraged' on China-US Trade Truce
WTO Director Generral Ngozi Okonjo-Iweala says she's 'very encouraged' by the easing of US-China tensions and calls for further progress, observing that the contraction in global goods trade contraction is already lessening. She spoke to Bloomberg's Chief North Asia Correspondent Stephen Engle on the sidelines of the APEC meeting in Jeju, South Korea. Sign in to access your portfolio
Zawya
16-05-2025
- Business
- Zawya
China, HK stocks dip with earnings, US tech restrictions in focus
HONG KONG - Chinese and Hong Kong stocks dropped on Friday, as market sentiment came under pressure from renewed U.S.-China tech tensions and a disappointing earnings report from Alibaba. Both markets ended the week positively, with the Hang Seng Index posting a fifth consecutive weekly gain. ** At the close, the Shanghai Composite index was down 0.4%; while China's blue-chip CSI300 index fell 0.46%. ** Liquor and insurance companies led the decline, both dropping 1.4%. ** In Hong Kong, the Hang Seng Index retreated 0.46%. ** Index heavyweight Alibaba Group lost more than 4% after the e-commerce giant posted quarterly revenue below analysts' estimates on Thursday. ** On the geopolitical front, the U.S. Commerce Department is considering placing more Chinese companies, including ChangXin Memory (CXMT), on its restricted export list, a person familiar with the matter told Reuters. ** The Bureau of Industry and Security is also looking at adding subsidiaries of Semiconductor Manufacturing International Corporation and Yangtze Memory Technologies Co to the "Entity List", the source said. ** "Market focus has shifted to the U.S.-China competition on other fields, such as semiconductor and healthcare, after the two countries significantly reduced tariffs for each other," said Dickie Wong, executive director of research at Kingston Securities. ** While U.S.-China tariff truce is a positive surprise to the market, a durable resolution remains challenging, given the complex bilateral relationship, Morgan Stanley analysts said in a note, adding sentiment on mainland A-shares edged down this week with lower trading volume. ** The smaller Shenzhen index ended up 0.18% and the start-up board ChiNext Composite index was weaker by 0.186%. ** Hong Kong's Hang Seng Tech edged down 0.3% as a 13% jump in gaming firm Netease on strong earnings partially offset the loss in Alibaba.
Bloomberg
14-05-2025
- Politics
- Bloomberg
Lula Says Brazil Unafraid of Retaliation From US Over China Ties
Brazil's President Luiz Inacio Lula da Silva brushed off concern that the Trump administration would punish his country for building closer ties with China, after a state visit to Beijing that saw him sign more than 30 agreements. Speaking to reporters on Wednesday, Lula said Brazil isn't afraid of any retaliation, adding he's always wanted to improve relations with China as well as other countries and blocs. There is no concern on Brazil's side with the US posture, he said in Beijing.
South China Morning Post
09-05-2025
- Business
- South China Morning Post
China's top chipmakers see shares plunge amid tariff uncertainty, despite revenue growth
China's largest chip foundries, Semiconductor Manufacturing International Corporation (SMIC) and Hua Hong Semiconductor, saw their stock prices plunge after warning of potential challenges in the second half of the year amid US-China tensions. Advertisement SMIC, the country's biggest chipmaker, expected a 4 to 6 per cent sequential drop in second-quarter revenue, citing 'fab production fluctuation' as a cause that led to a decrease in average selling prices, co-CEO Zhao Haijun said in an earnings call on Friday. The company noted in its earnings report on Thursday that the second half of the year would present 'both opportunities and challenges', as it worked to bolster its 'adaptability and risk resilience'. Hua Hong, SMIC's smaller rival, echoed concerns about the business environment in the months ahead. 'The entire semiconductor industry will face greater uncertainties in terms of customer demand, procurement costs, and the supply chain landscape due to recent changes in the global environment and related policies,' the company said in its Thursday earnings report. Still, Hua Hong expected a sequential rise in second-quarter revenue to between US$550 million and US$570 million. Advertisement SMIC and Hua Hong's Hong Kong-listed shares declined on Friday by 4.8 per cent and 7.9 per cent, respectively.
