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Earlier this year, Tesla set up operations in India and reportedly wants to import and sell its electric cars in the country. India meanwhile wants to lure Tesla to start producing its cars in the country. China was the first location that Tesla choose for its Gigafactory outside the home market of the US. The…
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Tesla has reportedly started to deliver the China-made Model Y in China. So far, the company was delivering China-made Model 3 and imported Model S/X in China. The competition in the EV (electric vehicle) industry has been intensifying. This especially holds true for China, the world’s largest market for new energy vehicles. Domestic Chinese automakers…
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On Monday, China released its 2020 GDP data that showed that the economy expanded 2.3%. It is expected to be the only major economy to report a positive GDP growth in 2020 as the rest of the world battled the COVID-19 pandemic that allegedly originated in China only. In its October update, the IMF (International…
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Alibaba stock was trading lower in the US premarket trading on Monday adding to its losses on Friday. The stock could turn negative for the year amid China’s crackdown on tech companies. While 2020 has been a good year for tech companies, China’s probe into the alleged monopoly of its tech companies turned the tide…
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Today China released its PMI (purchasing managers’ index) data for November which was better than expected. However, debt defaults at Chinese companies have been on a rise this year. China’s National Bureau of Statistics today released the official November PMI data. The official PMI was 52.1 in November which was better than the 51.5 that…
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Alibaba stock was trading sharply lower today despite posting record Singles Day sales. However, China’s clampdown on big tech companies coupled with the sell-off in US tech stocks seems to be pressurizing Alibaba stock. According to Bloomberg, Chinese tech giants including the likes of Alibaba, Baidu, and Tencent have lost over $260 billion in market…
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China’s exports and imports in yuan terms hit record highs in September in yet another sign that the country’s economic recovery is gaining pace. China’s trade data is among the most followed economic indicator. Its exports are a reflection on the global economy. On the other hand, its import data provides insights into its domestic…
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On Tuesday, Caixin released China’s August manufacturing PMI (purchasing managers’ index) that showed the country’s PMI rose to 53.1, the highest level since June 2011. China’s Shanghai Composite Index rose 0.44% after the better than expected data. Analysts surveyed by Refinitiv were expecting the metric at 52.7. The PMI stood at 52.8 in July. PMI…
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Marriott International (MAR) reports second-quarter results on Monday, with analysts fearing the hotel giant will follow rival Hilton, which this week reported sharply lower-than-expected earnings. Marriott’s portfolio of properties, which includes Westin, Ritz-Carlton and St Regis, is highly concentrated in the Americas – roughly 5,664 properties out of the 7,000 it operates – has exposed…
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Apple and Nike are vulnerable to escalations in US-China tensions, according to Mark Tepper, president of money manager Strategic Wealth Partners, as relations between the world’s two biggest economies have soured amid tit for tat closures of consulates. “China accounts for about 20% of revenues for both companies, and I think what people need to…
