Year: 2020

(Bloomberg) — Chinese stocks plummeted by the most since an equity bubble burst in 2015 as they resumed trading to the worsening virus outbreak.The CSI 300 Index dropped 9.1% as onshore financial markets opened for the first time since Jan. 23. China’s benchmark iron ore contract fell by its daily limit of 8%, while copper, crude and palm oil also sank by the maximum allowed. The People’s Bank of China set the yuan fixing at 6.9249 per dollar, stronger than the average estimate of traders surveyed by Bloomberg.Regulators have in the past days unleashed targeted measures to help blunt the …read more […]

(Bloomberg) — Chinese commodity markets collapsed on the first day of trading after the Lunar New Year holidays as investors returned to markets gripped by fear over the impact the coronavirus will have on demand in the world’s biggest consumer of raw materials.The country’s three major commodity exchanges were hit by a wave of selling as they reopened at 9 a.m. local time as Chinese traders had their first opportunity to catch up with losses inflicted on overseas markets while they had been on holiday. China’s benchmark iron ore contract fell by its daily limit of 8%, while copper, crude …read more […]

Feb.02 — Karen Jorritsma, head of Australian equities at RBC Capital Markets, talks about earnings and stocks. She speaks with Paul Allen and Taylor Riggs on “Bloomberg Markets.” …read more […]

Feb.02 — Jeanne Zaino, a political science professor at Iona College, and Rick Davis, who ran the presidential campaign of John McCain, preview Iowa caucuses, the Democratic candidates’ first presidential nominating contest. The Bloomberg contributors speak with David Westin on “Bloomberg Markets.” …read more […]

Feb.02 — Jeanne Zaino, a political science professor at Iona College, and Rick Davis, who ran the presidential campaign of John McCain, preview Iowa caucuses, the Democratic candidates’ first presidential nominating contest. The Bloomberg contributors speak with David Westin on “Bloomberg Markets.” …read more […]

Feb.02 — Bob Baur, chief global economist at Principal Global Investors, discusses how the coronavirus outbreak is affecting the U.S. economy. He speaks with Paul Allen and Taylor Riggs on “Bloomberg Markets.” …read more […]

China’s top electric vehicle battery maker CATL said on Monday it has signed a battery supply agreement with Tesla . Tesla will determine the battery purchase volume between July 2020 and June 2022, according to its own needs, CATL said in a stock exchange filing, adding the agreement does not impose restrictions on Tesla’s purchase volume. …read more […]

Feb.02 — China has pledged support for its financial markets that are scheduled to reopen Monday following the extended Lunar New Year break as the coronavirus outbreak shows no signs of slowing. Selina Wang reports on “Bloomberg Markets.” …read more […]

Troubled retail chain Forever 21 has reached an agreement to be sold to a group that includes mall owners Simon Property Group and Brookfield Property Partners and brand management company Authentic Brands Group. …read more […]

(Bloomberg) — Chinese oil demand has dropped by about three million barrels a day, or 20% of total consumption, as the coronavirus squeezes the economy, according to people with inside knowledge of the country’s energy industry.The drop is probably the largest demand shock the oil market has suffered since the global financial crisis of 2008 to 2009, and the most sudden since the Sept. 11 attacks. It could force the hand of the OPEC cartel, which is considering an emergency meeting to cut production and staunch the decline in prices, which are headed for the lowest close in a year.China …read more […]