Caixin
Oct 08, 2021 03:03 PM
FINANCE

Shanghai Composite Index Rose 0.67% on Friday

China’s benchmark Shanghai Composite Index (000001.SH) gained 0.67% on Friday, while the Shenzhen Component Index (399001.SZ) rose 0.73%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.31% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) ended nearly flat.

Below is a rundown of the top China business and finance stories, plus other news for the day:

· China Provinces to Supply More Coal to Ease Power Shortage

Commitments follow power outages and rationing in several provinces

· New Bidders Join Race for Stakes in Securities Firm Linked to Tomorrow Holding

China Chengtong and Dongxing to bid for 98% stake in New Times Securities

· World Consumer Price Inflation to Retreat to Pre-Pandemic Level by Mid-2022, IMF says

But price outlook is uncertain because of changes in markets for labor, housing and food

· Investors Offload Chinese Developers’ Dollar Bonds Amid Rising Anxiety About Defaults

Yields surge after Fantasia Holdings becomes the latest real estate firm to miss a bond payment in the wake of the Evergrande crisis

· Baidu-Backed EV-Maker WM Motor Raises $300 Million Despite String of Setbacks

Two Hong Kong-listed companies led the loss-making firm’s recent funding round

· Hong Kong Back On ‘Right Track’ With National Security Law, Carrie Lam Says

City’s chief executive outlines plans for housing development and attracting global talent in annual policy address

· China’s Shrinking Labor Investment Drives Down Caixin New Economy Index

Decline undercuts uptick in capital inputs as old economy weighs

· Top Chinese Diplomat Meets U.S. National Security Advisor in Switzerland

In the latest sign of improved communication between Beijing and Washington, top officials meet in Switzerland

· Hong Kong Plans Massive Development to Build Homes and Promote IT Sector

New ‘Northern Metropolis’ will house up to 2.5 million people and create 650,000 jobs, Lam says

· Developer Fantasia Holdings Defaults on $206 Million Note

Failure to make payment adds to concerns on property sector as Evergrande struggles with liquidity

Click here to read more of the latest news.

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