Caixin
Nov 18, 2022 03:03 PM
FINANCE

Shanghai Composite Index Fell 0.58% on Friday

China’s benchmark Shanghai Composite Index (000001.SH) lost 0.58% on Friday, while the Shenzhen Component Index (399001.SZ) fell 0.37%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.93% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.16%.

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

· Weekly Must-Read: Will Europe Pour More Money Into China?

As dramatic geopolitical changes alter the calculus, foreign investment from Europe more than doubles this year after three years of decline

· Citic to Become Biggest Huarong Shareholder

State-owned investment company to get 3% from Finance Ministry, pushing its Huarong stake to 24.46% after leading $6.6 billion bailout of the bad-debt manager

· Tahoe Chairman Returns After Eight Months Assisting Investigation

Huang Qisen was taken away in March along with two Tahoe vice presidents by authorities probing alleged corruption at China Construction Bank

· Asia-Pacific Not an Arena for ‘Big-Power Rivalry,’ Xi Tells APEC

Chinese president calls for deeper Asian cooperation on economies and security at Bangkok regional summit

· Caixin Summit: China, U.S. Should Cooperate Like They Did During Global Financial Crisis, Summers Says

A situation where the world’s top two economic powerhouses are faced with ‘considerable economic difficulty’ will leave the global economy with more challenges, the former U.S. Treasury Secretary says

· Opinion: The Yuan’s Status as a Reserve Currency Could Improve

After the recent turmoil in forex markets blows over, central banks around the world will be likely to reduce their holdings of the yen, pound and even the euro, allocating more assets to the more stable yuan

· Amid Eye-Watering Lithium Prices, Battery Chief Warns of Overcapacity

Eve Energy Chairman Liu Jincheng says the market could begin to suffer from excess production as soon as next year

· In Depth: What’s Next for China’s Covid Vaccine Strategy?

Low take-up of first booster doses and a lack of more effective vaccines are the challenges to bolstering immunity, experts say

· Caixin Summit: IMF Official Says Recalibrating ‘Zero Covid’ Is Critical to China’s Recovery

The organization’s first deputy managing director says the country’s slowdown is holding back global economic growth

· Chinese Student Enrollment Hits Seven-Year Low in the U.S.

The number of Chinese nationals studying in the U.S. has declined for a second consecutive year amid the Covid-19 pandemic and strained Sino-U.S. relations

Click here to read more of the latest news.

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