China’s benchmark Shanghai Composite Index (000001.SH) gained 0.27% on Tuesday, while the Shenzhen Component Index (399001.SZ) rose 0.31%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 0.52% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.38%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Three Executives Fined $93 Million by CSRC for Manipulating Stock Price
Company chairmen colluded to inflate JT Automation’s share price and cash in, illegally pocketing $9 million, CSRC reports
· The University of Macau is to Build a New Campus in Hengqin
Sister campus development is seen as a successful trial of the cooperation zones that aims to create synergies between Macao and Hengqin
Taiwan will return to the embrace of the motherland, said Wang Yi, after DPP’s Lai Ching-te wins leadership election
· Exclusive: Guotai Junan Securities to Promote New President
Li Junjie, a vice president at the state-owned brokerage, is set to replace Wang Song, who is retiring after more than eight years in the position
· CATL Bolsters Beijing’s EV Industry Ambitions With New Battery Plant
Battery giant’s facility is an integral part of the capital’s plan, which sees the auto sector as a major pillar of its development
· Financial Illiteracy Guides China’s Caution on Digital Assets, Professor Says
Regulators worry that retail investors will take on excessive leverage and risk once they gain access to the novel products, Tsinghua University’s Zhang Xiaoyan says
· Tencent-ByteDance Ceasefire Holds With Honor of Kings Deal
The agreement will allow the popular battle arena game to be streamed on Douyin in the wake of a longrunning tussle over copyrights
· Beijing ‘Welcomes’ Nauru Decision to Cut Diplomatic Ties With Taiwan
The Pacific Island nation is seeking to reestablish official relations with Beijing, switching diplomatic recognition from Taipei following the recent election
· Top Communist Party Foreign Affairs Official Meets With U.S. Secretary of State
Liu Jianchao, head of the International Department of the CPC’s Central Committee met Antony Blinken in Washington as part of efforts to get ties back on track
· Haitong Securities Delists Hong Kong Unit After Heavy Losses
Haitong International Securities Group Ltd. was taken private this week after almost 14 years, with parent offering HK$3.47 billion for its 2.28 billion outstanding shares
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