WSJ-PRO-NP – The News Desk

Chinese State-Owned Firms Establish $1.4 Billion Fund

2Jan

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Chinese State-Owned Firms Establish $1.4 Billion Fund

Two Chinese state-owned companies will establish a 10 billion yuan ($1.41 billion) fund to invest in companies with real estate project assets.Under the agreement, New China Life Insurance will be the limited partner providing CNY9.9 billion in capital and China International Capital Corp.will act as general partner that will manage the fund, New China Life said late Monday.Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Australia’s Manufacturing Sector Likely on Track for a Soft Landing, PMI Data Shows

1Jan

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Australia’s Manufacturing Sector Likely on Track for a Soft Landing, PMI Data Shows

SYDNEY—A slowdown in Australia’s manufacturing sector continued through December, with activity contracting over the month as the broader economy lost momentum due to the impact of higher interest rates.Still, the rate of slowdown is consistent with a soft landing for manufacturers in 2024, according to Judo Bank.Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

China Central Bank to Help Boost Consumer Prices Amid Deflation Risks

29Dec

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China Central Bank to Help Boost Consumer Prices Amid Deflation Risks

Dec. 29, 2023 1:20 am ET|WSJ ProChina’s central bank has vowed to boost consumer prices as the world’s second-largest economy is battered by tepid demand and weakening confidence.The People’s Bank of China said it would “promote price recovery from low levels and keep prices at reasonable levels,” according to a statement released late Thursday summarizing the central bank’s fourth-quarter monetary policy meeting.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Suntory Beverage & Food Exits Nonalcoholic Drinks Business in Indonesia

29Dec

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Suntory Beverage & Food Exits Nonalcoholic Drinks Business in Indonesia

Suntory Beverage & Food is exiting its nonalcoholic beverage business in Indonesia after 12 years of selling bottled tea, jelly drinks and other products in the Southeast Asian country.The Japanese company will transfer its 75% stake in Suntory Garuda Beverage to Garudafood, it said in a statement on Thursday. After the transfer, Suntory’s main focus in Indonesia will be the health-enrichment product category.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

BOJ to Mull Policy Shift If Sustainable 2% Inflation Becomes Certain, Ueda Says

26Dec

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BOJ to Mull Policy Shift If Sustainable 2% Inflation Becomes Certain, Ueda Says

Dec. 25, 2023 7:55 pm ET|WSJ ProTOKYO—Bank of Japan Gov. Kazuo Ueda said the bank would mull a shift away from monetary easing once it becomes confident about achieving its inflation target.“If the virtuous cycle between wages and prices intensifies and the likelihood of achieving the price stability target of 2% in a sustainable and stable manner rises sufficiently, the bank will likely consider changing its monetary policy,” Ueda said in a speech Monday.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

18Dec

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Energy & Utilities Roundup: Market Talk

The latest Market Talks covering Energy and Utilities. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.0702 GMT – Centrica has had an outstanding 2023, outperforming the utility sector by around 50%, but 2024 looks to be a more normalized earnings year, Jefferies analysts write in a research note. “We believe that Centrica’s earnings momentum has started to slow down,” they say. To unlock further value, the U.K. energy company needs more visibility on how it can put its standout balance sheet to work, they say. For them to get positive again on Centrica, it needs to deliver on business KPIs, such as growth in energy services, margins on residential energy supply, and further visibility on capital expenditure returns, the analysts say. Jefferies lowers it rat...

Rept Battero Energy Shares Rise in Hong Kong Trading Debut

18Dec

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Rept Battero Energy Shares Rise in Hong Kong Trading Debut

Dec. 17, 2023 11:19 pm ETShares of Chinese lithium-ion battery maker Rept Battero rose in their Hong Kong trading debut, indicating that investor demand for companies associated with electric-vehicle space remains buoyant.Rept Battero climbed as much as 7.4% on Monday from its initial public offering price of 18.30 Hong Kong dollars (US$2.34).Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

SenseTime Shares Fall on News of Death of Billionaire Founder

18Dec

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SenseTime Shares Fall on News of Death of Billionaire Founder

Dec. 17, 2023 10:05 pm ETSenseTime Group’s shares fell sharply on news of the death of its founder and controlling shareholder.Shares of the artificial intelligence software company dropped 11% to 1.11 Hong Kong dollars (14 U.S. cents) early Monday, on track for its largest daily drop since early July and taking their year-to-date loss to 49%.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Singapore’s Non-Oil Domestic Exports Rose in November

18Dec

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Singapore’s Non-Oil Domestic Exports Rose in November

SINGAPORE—Singapore’s non-oil domestic exports in November increased for the first time in over a year, snapping a run of contractions as shipments of non-electronic products grew.Non-oil domestic exports from the Southeast Asian trading hub in November grew 1.0% from a low base a year ago, Enterprise Singapore said Monday. That compared with a revised 3.5% contraction in October that had marked a 13-month stretch of declines.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

14Dec

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ESG Roundup: Market Talk – WSJ

Updated Dec. 14, 2023 12:33 pm ETThe latest Market Talks covering ESG Impact Investing. Published exclusively on Dow Jones Newswires at 10:00 ET and 17:00 ET.0618 ET – China’s manufacturing costs for solar modules have fallen significantly in the last year, boosting the country’s competitiveness against Europe and the U.S., according to a Wood Mackenzie report. The cost of producing modules has fallen by 42% on year to $0.15 a watt in December, compared with $0.30 a watt in Europe and $0.40 a watt in the U.S., data from the consultancy group shows. “As the world’s solar module powerhouse, China commands 80% of global manufacturing capacity and this is being reflected in soaring domestic installations,” the report says. “This year its domestic solar additions will be double those of the U....