[ad_1] Breadcrumb Trail Links PMN Business Article content BEIJING — China’s factory activity shrank more slowly in January than in the previous month thanks to the end of the country’s zero-COVID policy, though infections among workers still hampered production, a private sector survey showed on Wednesday. The Caixin/S&P Global manufacturing purchasing managers’ index (PMI) nudged up to 49.2 in January …
[ad_1] Article content BEIJING — New home prices in more major Chinese cities extended gains in January, a private survey showed on Wednesday, offering tentative signs of improving market confidence, as a flurry of property policy easing steps take effect. New home prices rose month-on-month in 12 cities, up from 10 in December, according to the survey by China Index …
[ad_1] Article content Oil prices rose on Wednesday as signs of slowing inflation in the United States eased fears that the world’s largest oil user may face a recession because of further interest rate hikes and a weaker dollar supported some buying interest. Brent crude futures gained 32 cents, or 0.4%, to $85.78 a barrel at 0407 GMT. U.S. West …
[ad_1] Article content BRUSSELS — The European Commission will present plans on Wednesday to try to ensure Europe can compete with the United States as a manufacturing hub for electric vehicles and other green products and reduce its dependence on China. Commission President Ursula von der Leyen is expected to announce a loosening of EU state aid rules, a repurposing …
[ad_1] Breadcrumb Trail Links PMN Business Article content SHANGHAI — China’s yuan steadied against the dollar on Wednesday, as the market awaited the Financial Post Top Stories Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc. By clicking on the sign up button you consent to receive the above newsletter from …
[ad_1] Article content SINGAPORE — Chicago soybean futures inched lower in early Asian trading on Wednesday, amid technical selling, even as dry weather conditions in top producer Argentina posed supply concerns. Wheat inched lower, ending a two-session rally, while corn fell for a second consecutive session. Article content FUNDAMENTALS * The most-active soybean contract on the Chicago Board of Trade …
[ad_1] Article content SEOUL — South Korea’s economy inched toward its first recession in three years as data on Wednesday showed its January trade deficit soared to a record thanks to a plunge in exports caused by a combination of long holidays and cooling global demand. Asia’s fourth-largest economy, which relies heavily on trade for growth, shrank by 0.4% in …
[ad_1] Breadcrumb Trail Links PMN Business Article content TOKYO — Asia’s factory activity contracted in January as the boost from China’s COVID reopening had yet to offset headwinds from slowing U.S. and European growth, surveys showed on Wednesday, underscoring the fragility of the region’s economic recovery. China’s factory activity shrank more slowly in January after Beijing lifted tough COVID curbs …
[ad_1] Article content BEIJING — Copper prices were little changed on Wednesday as investors awaited China’s demand to pick up after the Lunar New Year holidays and sought clues on the Federal Reserve’s interest-rate hike stance. Three-month copper on the London Metal Exchange was up just 0.3% at $9,246 a tonne by 0137 GMT. The most-traded March copper contract on …
[ad_1] Breadcrumb Trail Links PMN Business Article content SINGAPORE — Asia’s stockmarkets steadied on Wednesday, with signs of a slowdown in U.S. wages bolstering hopes that the Federal Reserve could hint at an end to interest rate hikes at its meeting later in the day. Wall Street indexes had rallied, as had bonds to a lesser extent, while the dollar …
