Caixin
Nov 24, 2022 03:03 PM
FINANCE

Shanghai Composite Index Fell 0.25% on Thursday

China’s benchmark Shanghai Composite Index (000001.SH) lost 0.25% on Thursday, while the Shenzhen Component Index (399001.SZ) fell 0.15%.

Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.16% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.21%.

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

· China Designates First Seven Investments for Personal Pension System

Consumers can buy into offerings from China Life, People’s Insurance, Taiping Life, Taiping Pension, Taikang Life and National Pension

· Top Tencent Investor Naspers Considers Selling Meituan Shares

South African media giant may cash out its $4.6 billion special dividend stake in the food delivery platform as it funds a massive share buyback of its own

· Ex-Central Bank Chief Dismisses Concerns of Multinationals’ ‘Greenwashing’

Zhou Xiaochuan says there’s no need to worry about big firms buying cheap carbon credits as global prices will eventually level off, preventing them from shirking their commitments

· China and U.S. Defense Chiefs Agree to Keep Lines of Communication Open

Defense Minister Wei Fenghe told his American counterpart that Beijing values relations between the two countries, but Washington must respect its core interests

· In Depth: Why China’s Index Fund Boom Has Been a Bust for Investors

The narrow focus of money managers and their pursuit of hot sectors have left many investors nursing losses

· China’s Covid-Hit Cinemas Hope ‘Avatar’ Sequel Will Bring a Galactic Boost

‘Avatar: The Way of Water’ to be released on Dec. 16, the same date as the U.S., even though just under half the nation’s cinemas have been shuttered due to lockdowns

· Chinese Mechanical-Equipment Maker Says Its Chair Faces Insider-Trading Probe

Guangzhou Haozhi’s Shenzhen-listed shares plunge nearly 16% after the company revealed Chairman Tang Lijun is being investigated by the national securities regulator

· China Proposes Tougher Restrictions on Unfair Digital Competition

Platforms like Alibaba, Tencent and JD.com would face steep penalties under revised law barring ‘picking sides,’ price manipulation and ‘walled gardens’

· China’s STAR Market Hosts $102 Billion of IPOs in First Three Years

Nasdaq-like Shanghai board’s fundraising for 486 companies accounts for more than 40% of China’s initial share sales since June 2019

· Airlines Complete Only 70% of Planned International China Flights

Easing of Covid restrictions fails to boost travel demand over the past three weeks, though carriers vow to ramp up capacity

Click here to read more of the latest news.

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