China’s benchmark Shanghai Composite Index (000001.SH) lost 0.57% on Thursday, while the Shenzhen Component Index (399001.SZ) rose 0.23%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) gained 2.53% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.92%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· China Pledges to Rein In Incomes of the Wealthy and Build Common Prosperity
Nation’s top leaders seek to attain ‘common prosperity’ in addressing social inequality and unbalanced development between urban and rural areas
· Analysis: Will the Taliban Make a Clean Break With Terrorists?
When the group was last in control of vast parts of Afghanistan from 1996 to 2001, a small number of extremist organizations posed a threat to China’s national security
· Evergrande Founder Steps Down as Chairman of Flagship Real Estate Unit
Hui Ka Yan took on the role as company prepared for now-aborted backdoor listing
Taliban vows to form an ‘inclusive Islamic’ government, and China to send 251 athletes to Tokyo Paralympics
· Vision of an ‘Asian Monetary Fund’ Becomes Clearer as Regional Crisis Fund Gets Boost
The growing autonomy of the Chiang Mai Initiative Multilateralization feels like ‘homework completed late,’ says Toshinori Doi, director of the ASEAN+3 Macroeconomic Research Office
· Tencent’s Online Music Arm Reports Dip in Quarterly Profits
Downturn comes as executives say recent regulatory ruling stripping company of exclusive licensing rights won’t have a big impact on bottom line
· Unprofitable Sea’s Revenue Soars 160% on Southeast Asia Lockdowns
Singaporean tech group’s second-quarter loss widens to $433 million as company pursues aggressive marketing campaigns to capitalize on rising e-commerce demand
· U.S. Stocks Regulator Pauses IPOs of Shell Companies Used by Chinese Firms
SEC Chairman Gary Gensler says he has asked staff to require such companies to disclose political and regulatory risk
· Update: EV-Maker Nio Denies Tampering With Vehicle Data After Fatal Crash
Chinese startup responds to reports that have raised concerns over the safety of its automated driving system
· HSBC Boosts Asia Expansion With Deal to Buy AXA Singapore
The $575 million purchase will create the city state’s seventh-largest life insurer and fourth-largest retail health insurer
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This article was generated by Caixin Automation.
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