Shanghai Composite Index Rose 0.62% on Tuesday
China’s benchmark Shanghai Composite Index (000001.SH) gained 0.62% on Tuesday, while the Shenzhen Component Index (399001.SZ) rose 0.85%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.19% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 1.37%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Airasia Records Worst-Ever Earnings, but Sees Brighter Year Ahead
Malaysian airline’s CEO Tony Fernandes ‘very optimistic’ for restart of global air travel in second half
· Malaysia Pays Singapore for Costs Incurred in Terminated High-Speed Rail Project
Compensation covers spending for consultancy services, design of infrastructure and manpower
· Abu Dhabi Looks to Become Pharma Hub After Sinopharm Deal
UAE is the first nation in the U.S.-allied Gulf to start coronavirus vaccine production, boosting its efforts to become a supply center for the Middle East
· Xiaomi and Oppo Expected to Overtake Huawei in UK Smartphone Market
· Great Wall Bets on Hydrogen to Power New SUV
· Buffett-Backed BYD’s Profit Surges 162% on Electric-Car Boom
· CX Daily: Loan Shark Gang Pocketed $430 Million as It Drove 89 to Suicide
Authorities in Shanghai and Beijing initiate crackdowns on the tutoring industry. Archegos makes education stocks' bad situation worse
· Wanda Secures State Investment for New Property Management Unit
Zhuhai city government puts $457.34 million into restructured operation as the company prepares for a Hong Kong public offering
· Covid Vaccine Maker CanSino Posts Wider Loss
Heavy investment in research and expansion amid Covid-19 pandemic accounts for red ink, which the company projects will continue for some time
· Evergrande Sells Online Unit Stake for $2.1 Billion Before IPO
Giant developer continues strategy of tapping outside investors in subsidiaries to raise funds to finance growth
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