China’s benchmark Shanghai Composite Index (000001.SH) lost 0.04% on Tuesday, while the Shenzhen Component Index (399001.SZ) fell 0.28%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.25% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.72%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Smartphone Pioneer LG to Close Handset Business
South Korean electronics-maker is shutting down its money-losing mobile phone business to focus more on EV components
· KKR Raises $15 Billion for Largest Asia Fund
U.S. private equity group to target consumer businesses and carve-outs
· North Korea to Skip Tokyo Olympics Over Covid-19 Concerns
Isolated nation is the first country to officially pull out of games
· Eduardo Saverin’s B Capital May Allot 40% of Global Fund to China
The U.S. currently accounts for slightly more than half of B Capital’s global investment, while South and Southeast Asia, Latin America and Europe make up the rest
· China Tells Japan Not to Side With U.S. in ‘Great Power Rivalry’
Chinese Foreign Minister Wang Yi warns Japan not to interfere in China’s domestic affairs, including issues related to Xinjiang and Hong Kong
· Border City Outbreak Drives China’s Daily New Covid Cases to 2-Month High
Authorities have shut down the city of Ruili and ordered all residents to get vaccinated to stop the coronavirus from spreading
· As Bairong falls 16% on debut, all eyes on Linklogis IPO and fintech players
· China Services Expansion Hits Three-Month High, Caixin PMI Shows
Supply and demand continue to improve as companies’ optimism jumps to a 10-year peak
· China Services Expansion Hits Three-Month High, Caixin PMI Shows
Supply and demand continue to improve as companies’ optimism jumps to a 10-year peak
Click here to read more of the latest news.
This article was generated by Caixin Automation.
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