Latest news with #WangTao
New Straits Times
17 hours ago
- Business
- New Straits Times
Palm falls on weaker rival oils, rising May stock outlook
JAKARTA: Malaysian palm oil futures opened lower on Wednesday, tracking weaker rival edible oils at Chicago and the prospect of May's palm oil stocks rising for the third consecutive month. The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange lost RM12, or 0.31 per cent, to RM3,922 (US$924.56) a metric ton in early trade. Dalian's most-active soyoil contract rose 0.1 per cent, while its palm oil contract declined 0.49 per cent. Soyoil prices on the Chicago Board of Trade were down 0.66 per cent. Palm oil tracks price movements of rival edible oils, as it competes for a share of the global vegetable oils market. Malaysia's palm oil inventories are projected to climb for a third consecutive month in May, driven by a modest recovery in production despite robust export demand, a Reuters survey showed on Wednesday. India's palm oil imports in May surged to a six-month high, as lower inventories and the tropical oil's discount to rival soyoil and sunflower oil prompted refiners to increase purchases, according to five dealers. Independent inspection company AmSpec Agri Malaysia said exports of Malaysian palm oil products for May rose 13.2 per cent, while cargo surveyor Intertek Testing Services saw a 17.9 per cent jump. Oil prices edged lower in early Asian trade, weighed down by a loosening supply-demand balance following increasing OPEC+ output and lingering concerns over the global economic outlook due to tariff tensions. Weaker crude oil futures make palm a less attractive option for biodiesel feedstock. The ringgit, palm's currency of trade, strengthened 0.05 per cent against the dollar, making the commodity slightly more expensive for buyers holding foreign currencies. Palm oil may retest resistance of RM3,968 per metric ton, a break above which could lead to a gain to RM3,998, Reuters technical analyst Wang Tao said. Asian stocks inched higher and the dollar wobbled near six-week lows as traders braced for higher US duties on steel and aluminium, the latest chapter in the trade war saga that has rattled the markets for much of the year.
Bloomberg
28-05-2025
- Business
- Bloomberg
UBS' Wang on China's Economic Growth Prospects
Wang Tao, Head of Asia Economic Research and Chief China Economist at UBS, discusses her outlook for China's economic growth. She speaks with David Ingles at the "UBS Asian Investment Conference" in Hong Kong. (Source: Bloomberg)
New Straits Times
28-05-2025
- Business
- New Straits Times
Palm rises on stronger Dalian oils, crude; weak Chicago soyoil caps gains
KUALA LUMPUR: Malaysian palm oil futures opened higher on Wednesday for a fourth session, buoyed by stronger rival Dalian oils and crude oil prices, though weaker Chicago soyoil limited gains. The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange gained RM12, or 0.31 per cent, to RM3,880 (US$913.80) a metric ton in early trade. Dalian's most-active soyoil contract rose 0.23 per cent, while its palm oil contract added 1.05 per cent. Soyoil prices on the Chicago Board of Trade were down 0.14 per cent. Palm oil tracks price movements of rival edible oils, as it competes for a share of the global vegetable oils market. Oil prices edged higher in early trading as the US barred Chevron from exporting crude from Venezuela under a new authorization on its assets there, raising the prospect of tighter supply. Stronger crude oil futures make palm a more attractive option for biodiesel feedstock. The ringgit, palm's currency of trade, weakened 0.26 per cent against the dollar, making the commodity slightly cheaper for buyers holding foreign currencies. European Union soybean imports for the 2024/25 season, which began in July, reached 12.69 million metric tons by May 25, up 7 per cent from the same period a year earlier, while palm oil imports were at 2.57 million tons, down 19 per cent, data published by the European Commission stated. Palm oil may retrace into a range of RM3,814 to RM3,838 per metric ton, as it faces strong resistance at RM3,878, Reuters technical analyst Wang Tao said. Asian shares continued a rally from Wall Street and the dollar held gains on Wednesday on promising economic signs in the United States and speculation of strong tech earnings.
Yahoo
26-05-2025
- Entertainment
- Yahoo
China's pro-wrestlers search for a star to bring the sport out of the shadows
Rising from the ground with 73kg of writhing muscle on his shoulders, Wang Tao grimaced. The man whose legs were wrapped around his head was not giving up, pulling at Wang's silver-tipped hair, dyed especially for the occasion. But Wang knew what he had to do. Reaching up with one arm, he grasped his opponent's neck, and pulled forwards, flinging him to the ground. Seconds later, Wang had him pinned to the floor for a three-count, and had successfully defended his title as Middle Kingdom Wrestling's 'Belt and Road' champion. Advertisement The crowd in Beijing went wild. 'It was so much better than I expected,' said Wang, beaming with a post-match adrenaline rush. 'The audience reaction was really, really good'. Even Wang's defeated opponent, Shaheen Alshehhi, was impressed. 'You're fucking awesome,' he , said after the match, inviting Wang to compete in Dubai. Wang is the 25-year-old poster boy for an industry that has struggled for years to gain a foothold in China, despite a huge potential market and a culture that enjoys its own rich history of martial arts and professional fighting. Less than 10% of households with internet access watch pro-wrestling, according to a 2023 survey by S&P Global, a market intelligence company. For sports like basketball and football, the figure is over 50%. Some in the industry hope that Wang could make the sport popular in China the way it is in America. Wang fell in love with wrestling after watching The Wrestler, an American movie starring Mickey Rourke, as a 15-year-old in rural Henan, one of China's poorest provinces. Two years later he ran away from home to train at a wrestling camp hundreds of miles away. Advertisement Related: Inside China's pro wrestling scene – in pictures Saturday's event – to mark 10 years since the founding of Middle Kingdom Wrestling (MKW), one of China's few pro-wrestling organisations – was the first time that the teenage runaway had ever been to Beijing. He couldn't sleep the night before with excitement. Now his brawn, showmanship, and the glitzy all-American spectacle of pro-wrestling is set to take the boy from the Chinese countryside from the middle kingdom to the Middle East. 'If it wasn't for wrestling, I probably wouldn't even have a passport,' he said. Sports or entertainment? World Wrestling Entertainment (WWE) launched in China in 2016, signing a streaming deal with a local platform and scouring China for homegrown talent. It is still pursuing an audience in China, and in 2020 reportedly signed a new partnership agreement with iQiyi, a Chinese streaming service. Events are also broadcast on some regional channels. Advertisement But the sport's reach is limited because of a lack of official support and cultural understanding. Chinese authorities often confuse the choreographed events for actual fighting, or disapprove of the general air of anarchy that surrounds raucous matches. The sports-or-entertainment quandary has baffled Chinese regulators, said Ho Ho Lun, a 37-year-old wrestling producer and performer who also competed on Saturday. Wrestling's 'theatrical elements' mean that sports authorities often punt responsibility for events to the entertainment bureau, while the entertainment bureau often wants to punt it straight back. 'So we're in between, that's our challenge,' Ho said. Later that night, he entered the ring at MKW's sold-out event dressed in metallic green and silver trousers and a T-shirt emblazoned with a kung fu cartoon of himself performing a flying side kick. It's not just regulators who are confused. 'Most Chinese people still think wrestling is fake compared to real fighting. They don't understand it,' said Zhang, a 21-year-old student who travelled to Beijing from neighbouring Hebei to watch Saturday's match. The winners in pro-wrestling matches are pre-decided, but fans insist that the athleticism and storytelling on display make it just as, if not more, compelling than other types of sport performances. Advertisement Adrian Gomez, a 37-year-old wrestling fanatic who founded MKW in 2015, is on a mission to change that. 'You can't just throw money at a market and expect it to work,' said Gomez, who hails from Arizona. 'I think that WWE underestimated the fact that there still needs to be more connection with Chinese fans … they still want something that feels a little bit more authentic'. In that vein, many of MKW's wrestlers incorporate traditional Chinese elements into their characters. At Saturday's soiree, one wrestler wore a long black Qing dynasty-style robe complete with a high mandarin collar and Chinese knot buttons. Another donned a red-and-gold Peking opera style mask, not dissimilar to the colourful wrestling face coverings worn by fans in the audience. Han Guangchen, a burly wrestler and film-maker from Shanghai, said videos that include elements of traditional Chinese martial arts do vastly better on social media. The search for a breakout star But what Chinese wrestling really needs, according to the aficionados, is one big name. 'Until we have one Jay Chou of wrestling that creates a big superstar, [going mainstream] will take some time,' said Ho, referring to the Taiwanese singer who is arguably the biggest Sinophone pop star in the world. Advertisement In 2016, as part of its China launch, WWE signed Wang Bin, a young Chinese athlete who was scouted in Japan. He caused a buzz as the American company's first mainland Chinese wrestler, but he terminated his contract just two years later. 'American wrestling focuses more on performance,' Wang said at the time, while his first love, Japanese wrestling, 'focuses more on fighting style and real skills'. Wang claimed to love both, but WWE deemed that he didn't have the acting charisma necessary to excel in the idiosyncratic universe of American pro-wrestling. Could Wang Tao be the answer? Now a full-time wrestler, he barely makes ends meet by competing in matches and making online content. But his reach is limited, with even the most popular videos attracting only about 1,000 viewers. Many of his friends have dropped out of the nascent industry because of the financial insecurity, he said. Although it hasn't made him rich, it's taken him to places he couldn't have dreamed of a few years ago. 'When I get into the ring, with all the lights on and the crowds cheering, I feel that all the effort has been worth it,' he said. MKW's fans seem to agree, going wild for fist bumps and high fives when he stepped out of the ring. Laurel Burns, an American drama teacher in Beijing, was among the chanting and cheering crowd. 'I was so excited to touch him,' she said.
The Guardian
26-05-2025
- Entertainment
- The Guardian
China's pro-wrestlers search for a star to bring the sport out of the shadows
Rising from the ground with 73kg of writhing muscle on his shoulders, Wang Tao grimaced. The man whose legs were wrapped around his head was not giving up, pulling at Wang's silver-tipped hair, dyed especially for the occasion. But Wang knew what he had to do. Reaching up with one arm, he grasped his opponent's neck, and pulled forwards, flinging him to the ground. Seconds later, Wang had him pinned to the floor for a three-count, and had successfully defended his title as Middle Kingdom Wrestling's 'Belt and Road' champion. The crowd in Beijing went wild. 'It was so much better than I expected,' said Wang, beaming with a post-match adrenaline rush. 'The audience reaction was really, really good'. Even Wang's defeated opponent, Shaheen Alshehhi, was impressed. 'You're fucking awesome,' he , said after the match, inviting Wang to compete in Dubai. Wang is the 25-year-old poster boy for an industry that has struggled for years to gain a foothold in China, despite a huge potential market and a culture that enjoys its own rich history of martial arts and professional fighting. Less than 10% of households with internet access watch pro-wrestling, according to a 2023 survey by S&P Global, a market intelligence company. For sports like basketball and football, the figure is over 50%. Some in the industry hope that Wang could make the sport popular in China the way it is in America. Wang fell in love with wrestling after watching The Wrestler, an American movie starring Mickey Rourke, as a 15-year-old in rural Henan, one of China's poorest provinces. Two years later he ran away from home to train at a wrestling camp hundreds of miles away. Saturday's event – to mark 10 years since the founding of Middle Kingdom Wrestling (MKW), one of China's few pro-wrestling organisations – was the first time that the teenage runaway had ever been to Beijing. He couldn't sleep the night before with excitement. Now his brawn, showmanship, and the glitzy all-American spectacle of pro-wrestling is set to take the boy from the Chinese countryside from the middle kingdom to the Middle East. 'If it wasn't for wrestling, I probably wouldn't even have a passport,' he said. World Wrestling Entertainment (WWE) launched in China in 2016, signing a streaming deal with a local platform and scouring China for homegrown talent. It is still pursuing an audience in China, and in 2020 reportedly signed a new partnership agreement with iQiyi, a Chinese streaming service. Events are also broadcast on some regional channels. But the sport's reach is limited because of a lack of official support and cultural understanding. Chinese authorities often confuse the choreographed events for actual fighting, or disapprove of the general air of anarchy that surrounds raucous matches. The sports-or-entertainment quandary has baffled Chinese regulators, said Ho Ho Lun, a 37-year-old wrestling producer and performer who also competed on Saturday. Wrestling's 'theatrical elements' mean that sports authorities often punt responsibility for events to the entertainment bureau, while the entertainment bureau often wants to punt it straight back. 'So we're in between, that's our challenge,' Ho said. Later that night, he entered the ring at MKW's sold-out event dressed in metallic green and silver trousers and a T-shirt emblazoned with a kung fu cartoon of himself performing a flying side kick. It's not just regulators who are confused. 'Most Chinese people still think wrestling is fake compared to real fighting. They don't understand it,' said Zhang, a 21-year-old student who travelled to Beijing from neighbouring Hebei to watch Saturday's match. The winners in pro-wrestling matches are pre-decided, but fans insist that the athleticism and storytelling on display make it just as, if not more, compelling than other types of sport performances. Adrian Gomez, a 37-year-old wrestling fanatic who founded MKW in 2015, is on a mission to change that. 'You can't just throw money at a market and expect it to work,' said Gomez, who hails from Arizona. 'I think that WWE underestimated the fact that there still needs to be more connection with Chinese fans … they still want something that feels a little bit more authentic'. In that vein, many of MKW's wrestlers incorporate traditional Chinese elements into their characters. At Saturday's soiree, one wrestler wore a long black Qing dynasty-style robe complete with a high mandarin collar and Chinese knot buttons. Another donned a red-and-gold Peking opera style mask, not dissimilar to the colourful wrestling face coverings worn by fans in the audience. Han Guangchen, a burly wrestler and film-maker from Shanghai, said videos that include elements of traditional Chinese martial arts do vastly better on social media. But what Chinese wrestling really needs, according to the aficionados, is one big name. 'Until we have one Jay Chou of wrestling that creates a big superstar, [going mainstream] will take some time,' said Ho, referring to the Taiwanese singer who is arguably the biggest Sinophone pop star in the world. In 2016, as part of its China launch, WWE signed Wang Bin, a young Chinese athlete who was scouted in Japan. He caused a buzz as the American company's first mainland Chinese wrestler, but he terminated his contract just two years later. 'American wrestling focuses more on performance,' Wang said at the time, while his first love, Japanese wrestling, 'focuses more on fighting style and real skills'. Wang claimed to love both, but WWE deemed that he didn't have the acting charisma necessary to excel in the idiosyncratic universe of American pro-wrestling. Could Wang Tao be the answer? Now a full-time wrestler, he barely makes ends meet by competing in matches and making online content. But his reach is limited, with even the most popular videos attracting only about 1,000 viewers. Many of his friends have dropped out of the nascent industry because of the financial insecurity, he said. Although it hasn't made him rich, it's taken him to places he couldn't have dreamed of a few years ago. 'When I get into the ring, with all the lights on and the crowds cheering, I feel that all the effort has been worth it,' he said. MKW's fans seem to agree, going wild for fist bumps and high fives when he stepped out of the ring. Laurel Burns, an American drama teacher in Beijing, was among the chanting and cheering crowd. 'I was so excited to touch him,' she said.
