China’s factory activity unexpectedly grows in March, a private survey shows

Manufacturing activity in China expanded unexpectedly in March at its fastest pace in eight months, a private survey showed on Monday. The Caixin PMI is a private survey focused on smaller businesses and offers a first glimpse into the operating environment. Despite the strength of China’s March manufacturing data, there are still reasons to be cautious about the country’s near-term outlook, said Julian Evans-Pritchard, senior China economist at Capital Economics. “On that note, the official PMI


Manufacturing activity in China expanded unexpectedly in March at its fastest pace in eight months, a private survey showed on Monday. The Caixin PMI is a private survey focused on smaller businesses and offers a first glimpse into the operating environment. Despite the strength of China’s March manufacturing data, there are still reasons to be cautious about the country’s near-term outlook, said Julian Evans-Pritchard, senior China economist at Capital Economics. “On that note, the official PMI
China’s factory activity unexpectedly grows in March, a private survey shows Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-01  Authors: huileng tan, str – afp – getty images
Keywords: news, cnbc, companies, sector, unexpectedly, trade, activity, private, data, grows, pmi, talks, chinas, factory, manufacturing, official, rose, survey, shows


China's factory activity unexpectedly grows in March, a private survey shows

Manufacturing activity in China expanded unexpectedly in March at its fastest pace in eight months, a private survey showed on Monday.

The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) came in at 50.8 for March. Analysts had expected it to come in at 49.9 for a second month, according to a Reuters poll of economists.

A reading below 50 signals contraction, while a reading above that level indicates expansion.

New orders climbed to their highest level in four months, while the index for new export orders returned to expansionary territory, “showing that both domestic and external demand rebounded moderately,” wrote Zhengsheng Zhong, director of macroeconomic analysis at CEBM Group, a subsidiary of Caixin.

Markit and Caixin said in a joint press release that staffing levels at factories rose in March to mark their first expansion since October 2013. Some firms also hired additional workers to support greater production and new business developments, they added.

“Overall, with a more relaxed financing environment, government efforts to bail out the private sector and positive progress in Sino-U.S. trade talks, the situation across the manufacturing sector recovered in March,” said Zhong.

Results of the private survey came after data on Sunday showed the official Purchasing Managers’ Index rose to 50.5 in March from February’s three-year low of 49.2. It marked the first expansion in four months, according to data released by China’s National Bureau of Statistics.

The manufacturing numbers come amid ongoing tariff talks between the U.S. and China aimed at resolving their trade differences. High-level trade negotiations between the two economic powerhouses are set to resume in Washington this week following last week’s talks in Beijing.

The Caixin PMI is a private survey focused on smaller businesses and offers a first glimpse into the operating environment. It is closely watched as an alternative to the official PMI.

Despite the strength of China’s March manufacturing data, there are still reasons to be cautious about the country’s near-term outlook, said Julian Evans-Pritchard, senior China economist at Capital Economics.

The breakdown of both the official and private PMI indexes suggests a slight recovery in external demand, with most of the improvement coming from a pick-up in domestic demand, wrote Evans-Pritchard in a note on Monday.

“We suspect that this was driven by stronger fiscal support since local governments have stepped up bond issuance recently,” he added. “On that note, the official PMI for the construction sector rose last month, consistent with an acceleration in infrastructure spending.”

China’s growth could still weaken in the near-term as indicated by recent credit growth data and a sharp decline in land sales purchases, Evans-Pritchard said.

Results of the Caixin PMI survey for the services sector are due to be released on Wednesday.

— Reuters contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-04-01  Authors: huileng tan, str – afp – getty images
Keywords: news, cnbc, companies, sector, unexpectedly, trade, activity, private, data, grows, pmi, talks, chinas, factory, manufacturing, official, rose, survey, shows


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Saudi Aramco gets first credit rating ahead of bond debut

Saudi Aramco, the world’s top oil producer, has been rated A+ by Fitch in its first-ever credit rating, ahead of the state oil giant’s first global bond sale and following 2018 earnings that dwarfed those of international oil majors. Aramco generated earnings before interest, tax and depreciation (EBITDA) of $224 billion in 2018, Fitch said on Monday, surpassing ExxonMobil, the world’s largest listed oil firm. The Saudi oil producer is expected to start meeting bond investors this week, sources


Saudi Aramco, the world’s top oil producer, has been rated A+ by Fitch in its first-ever credit rating, ahead of the state oil giant’s first global bond sale and following 2018 earnings that dwarfed those of international oil majors. Aramco generated earnings before interest, tax and depreciation (EBITDA) of $224 billion in 2018, Fitch said on Monday, surpassing ExxonMobil, the world’s largest listed oil firm. The Saudi oil producer is expected to start meeting bond investors this week, sources
Saudi Aramco gets first credit rating ahead of bond debut Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-01  Authors: ahmed jadallah
Keywords: news, cnbc, companies, worlds, bond, saudi, gets, ahead, oil, total, fitch, credit, shell, aramcos, production, rating, 2018, aramco, debut


Saudi Aramco gets first credit rating ahead of bond debut

Saudi Aramco, the world’s top oil producer, has been rated A+ by Fitch in its first-ever credit rating, ahead of the state oil giant’s first global bond sale and following 2018 earnings that dwarfed those of international oil majors.

Aramco generated earnings before interest, tax and depreciation (EBITDA) of $224 billion in 2018, Fitch said on Monday, surpassing ExxonMobil, the world’s largest listed oil firm.

Aramco intends to issue its first U.S. dollar-denominated bonds, expected to be for at least $10 billion, in the second quarter to help finance its acquisition of a stake in Saudi Basic Industries Corp, the world’s fourth-largest petrochemicals maker.

The Saudi oil producer is expected to start meeting bond investors this week, sources familiar with the matter told Reuters on Thursday.

Last week, Aramco said it would buy a 70 percent stake in SABIC from the kingdom’s wealth fund for $69.1 billion, in one of the biggest deals in the global chemical industry.

At the end of 2018, Aramco’s cash balances exceeded its balance-sheet debt, Fitch said.

“We project that Saudi Aramco’s leverage will remain low, even after the recently announced acquisition of SABIC, which we expect to be predominantly funded from the company’s free cash flow (FCF),” the ratings agency said.

Credit ratings allow investors to compare and assess the credit quality of bond issuers and their debt securities, and are important in determining how much borrowers have to pay.

Aramco has hoped to match the ratings of Exxon and Royal Dutch Shell, a source familiar with the matter has told Reuters. Exxon is rated triple-A by Moody’s and AA+ by its rival S&P, putting it on par with the rating of the United States.

As a standalone business, Aramco could outweigh its international peers, but most of its assets are in Saudi Arabia and it is tightly linked to Saudi Arabia’s economic policies.

National oil companies are generally rated at the same level as or slightly lower than their governments.

“Saudi Aramco’s rating is constrained by that of Saudi Arabia (A+/Stable). This reflects the influence the state exerts on the company through taxation and dividends, as well as regulating the level of production in line with its OPEC commitments,” Fitch said.

The rating agency said it put Saudi Aramco’s “standalone credit profile (at) ‘AA+'”.

Aramco “is less integrated into natural gas and downstream than some of its international peers, such as Shell and Total, which makes it more exposed to oil prices although this is mitigated by low cost of production, its downstream expansion strategy, and the acquisition of SABIC,” Fitch said.

Aramco is still by far the world’s biggest oil producing company, ahead of regional peers like Abu Dhabi National Oil Company (ADNOC) and listed oil majors Shell, Total and BP, Fitch said.

“In 2018, its (Aramco’s) liquids production and its total hydrocarbon production averaged 11.6 million and 13.6 million barrels of oil equivalent per day, respectively,” Fitch said.


Company: cnbc, Activity: cnbc, Date: 2019-04-01  Authors: ahmed jadallah
Keywords: news, cnbc, companies, worlds, bond, saudi, gets, ahead, oil, total, fitch, credit, shell, aramcos, production, rating, 2018, aramco, debut


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Rapper Nipsey Hussle shot dead outside his Los Angeles store

Grammy-nominated rapper Nipsey Hussle was shot and killed outside his clothing store in south Los Angeles on Sunday, media reports said. Two other people were wounded in the shooting outside Marathon Clothing, the Los Angeles Times reported, citing law enforcement sources. According to the newspaper, Hussle, 33, was shot multiple times and rushed to a hospital, where he was pronounced dead. The Los Angeles Police Department said a shooting was reported about 3:20 p.m. PDT in the area of Slauson


Grammy-nominated rapper Nipsey Hussle was shot and killed outside his clothing store in south Los Angeles on Sunday, media reports said. Two other people were wounded in the shooting outside Marathon Clothing, the Los Angeles Times reported, citing law enforcement sources. According to the newspaper, Hussle, 33, was shot multiple times and rushed to a hospital, where he was pronounced dead. The Los Angeles Police Department said a shooting was reported about 3:20 p.m. PDT in the area of Slauson
Rapper Nipsey Hussle shot dead outside his Los Angeles store Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-01  Authors: david crotty, patrick mcmullan, getty images
Keywords: news, cnbc, companies, los, shooting, outside, dead, pronounced, reported, times, rapper, angeles, hussle, shot, south, media, store, nipsey


Rapper Nipsey Hussle shot dead outside his Los Angeles store

Grammy-nominated rapper Nipsey Hussle was shot and killed outside his clothing store in south Los Angeles on Sunday, media reports said.

Two other people were wounded in the shooting outside Marathon Clothing, the Los Angeles Times reported, citing law enforcement sources.

According to the newspaper, Hussle, 33, was shot multiple times and rushed to a hospital, where he was pronounced dead.

The Los Angeles Police Department said a shooting was reported about 3:20 p.m. PDT in the area of Slauson Avenue and Crenshaw Boulevard, and that three victims were transported to a hospital where one was pronounced dead.

“We have no suspect info at this time and will provide more details as they become available,” the department wrote on Twitter.

Hussle, whose real name was Ermias Asghedom, grew up in south Los Angeles and often talked about being in a street gang during his teenage years. He had since become a community organizer, according to media reports.

His debut studio album, “Victory Lap” was nominated for Best Rap Album at this year’s Grammy Awards.


Company: cnbc, Activity: cnbc, Date: 2019-04-01  Authors: david crotty, patrick mcmullan, getty images
Keywords: news, cnbc, companies, los, shooting, outside, dead, pronounced, reported, times, rapper, angeles, hussle, shot, south, media, store, nipsey


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This cafe-owner designed her restaurant to attract Instagram users — and it’s working

For Suteja, Instagram — the Faceboook-owned social media app — is really about the bottom line. Suteja designed Crate to attract social media users. “But how do you make it so that any photo you look at, you know it’s a Crate bacon and egg?” She attributes the majority of her business to customers discovering her restaurant on Instagram. “You see something on Instagram, you’re going to send it someone or tag a friend.


For Suteja, Instagram — the Faceboook-owned social media app — is really about the bottom line. Suteja designed Crate to attract social media users. “But how do you make it so that any photo you look at, you know it’s a Crate bacon and egg?” She attributes the majority of her business to customers discovering her restaurant on Instagram. “You see something on Instagram, you’re going to send it someone or tag a friend.
This cafe-owner designed her restaurant to attract Instagram users — and it’s working Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-01  Authors: uptin saiidi, benaz shaikhani for crate
Keywords: news, cnbc, companies, cafeowner, attract, restaurant, crate, youre, word, wordofmouth, suteja, social, instagram, users, working, media, designed, bacon


This cafe-owner designed her restaurant to attract Instagram users — and it's working

Cafe-owner Maree Suteja, who is in her 50’s, may well be spending as much time on Instagram as her two social-media obsessed children who are in their 20’s.

For Suteja, Instagram — the Faceboook-owned social media app — is really about the bottom line.

The former school teacher moved from Australia to Bali, Indonesia where she opened Crate Cafe — known as an “Instagrammers paradise” to tourists, expats and locals.

Suteja designed Crate to attract social media users. The bistro has a minimalist, warehouse-inspired ambiance with bright, natural sunlight streaming into the restaurant. There are displays of unique artwork all around and its dishes are presented in a picture-perfect form.

“Anyone can do a bacon and eggs,” she said. “But how do you make it so that any photo you look at, you know it’s a Crate bacon and egg?”

She attributes the majority of her business to customers discovering her restaurant on Instagram.

The restaurant’s Instagram account has amassed more than 47,000 followers and features a combination of food and people posing before they tuck into their meals.

“Instagram goes hand-in-hand with word-of-mouth,” she said. “You see something on Instagram, you’re going to send it someone or tag a friend. It’s that thing about tagging people and that gets the word out.”


Company: cnbc, Activity: cnbc, Date: 2019-04-01  Authors: uptin saiidi, benaz shaikhani for crate
Keywords: news, cnbc, companies, cafeowner, attract, restaurant, crate, youre, word, wordofmouth, suteja, social, instagram, users, working, media, designed, bacon


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Apple’s new AirPods are great, but you don’t need to upgrade if you already own the first model

What’s goodSecond-generation Apple AirPods Todd Haselton | CNBCThe second-generation AirPods look and function almost exactly the same as the first generation, and they cost just as much at $159. But they cost $199 if you want the optional wireless charging case that works with standard wireless chargers. You can also buy the wireless charging case separately for $79.99 and use them with your first-generation AirPods. That’s a feature that might come in the next iPhones, however, which would mak


What’s goodSecond-generation Apple AirPods Todd Haselton | CNBCThe second-generation AirPods look and function almost exactly the same as the first generation, and they cost just as much at $159. But they cost $199 if you want the optional wireless charging case that works with standard wireless chargers. You can also buy the wireless charging case separately for $79.99 and use them with your first-generation AirPods. That’s a feature that might come in the next iPhones, however, which would mak
Apple’s new AirPods are great, but you don’t need to upgrade if you already own the first model Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-01  Authors: todd haselton
Keywords: news, cnbc, companies, great, charging, apples, siri, dont, model, airpods, apple, case, need, iphone, todd, upgrade, wireless


Apple's new AirPods are great, but you don't need to upgrade if you already own the first model

Wearing the second-generation Apple AirPods. Todd Haselton | CNBC

I’ve been testing Apple’s second-generation AirPods, which add a couple of new features including wireless charging, better battery life for phone calls and support for calling up Siri whenever you want by saying, “Hey Siri.” They’re very good and still my top pick for wireless headphones. But you don’t need to upgrade to these if you have the first-generation model. Still, AirPods have turned into a blockbuster hit for Apple. In just 2½ years, they’ve become almost as ubiquitous as the standard wired Apple earbuds that have been around since the original iPod. Along with the Apple Watch, AirPods have helped grow the company’s wearables and accessories category to $7.3 billion in revenue during the holiday quarter last year. So even though the new AirPods aren’t significantly different than the first version, you’re still getting an improvement over one of Apple’s biggest breakouts hits. If you didn’t buy AirPods before, now is a great time to get them. Here’s what you need to know.

What’s good

Second-generation Apple AirPods Todd Haselton | CNBC

The second-generation AirPods look and function almost exactly the same as the first generation, and they cost just as much at $159. But they cost $199 if you want the optional wireless charging case that works with standard wireless chargers. You can also buy the wireless charging case separately for $79.99 and use them with your first-generation AirPods. Wireless charging works well. Just drop the case on a pad and a small indicator light on the front of the case tells you they’re getting juice. You don’t need to plug them in, but you can if you want to with a Lightning cable. I did this most of the time by habit and rarely found myself using wireless charging. I wish I could charge them by placing them on the back of an iPhone, as you can with Samsung’s new Galaxy S10, which can power other devices. That’s a feature that might come in the next iPhones, however, which would make wireless charging more fun.

Second-generation Apple AirPods using a wireless charging pad. Todd Haselton | CNBC

The new AirPods switch between devices quickly, too. On a train ride, I switched from listening to music on my iPhone to my Mac in just a couple of seconds. Then I was able to switch to an iPad just as fast. You can still do this with the first-generation model, but it’s slightly faster with the new model. “Hey Siri” works well, too. Just speak that phrase and you can request a playlist. (But it only works for Apple Music. Other services, like Spotify, aren’t supported.) The microphone is impressive and was almost always able to hear me. I liked the convenience of using this to send a text message, though it felt a little weird doing this in public, as if I was talking to myself. Plus, you can still pull up Siri on the first gen model by tapping the side of those AirPods. The battery life is great. I never had issues with my first-generation model, but my colleagues said they would often die after about an hour-long phone call and would need to be recharged in the case. I talked on the phone for 40 minutes straight and that drained the battery to 81 percent, which is a big improvement. Apple promises up to three hours of talk time, so you’ll probably get close to that. Calls were clear, too. People thought I was talking right on my phone, and Apple made enhancements that specifically focus on call quality. It’s even better than Samsung’s new Galaxy Buds, which are a good alternative if you don’t own an iPhone or want something different.

What’s bad

The new model on the left looks almost identical to the old model on the right. Note the new charging indicator light on the left. Todd Haselton | CNBC

The price, $200, is a lot to spend on headphones, so save money and get the model without wireless charging for $159, which still includes better battery life and “Hey Siri” support. Wireless charging would have been a lot more appealing if Apple launched AirPower, a product that was officially canceled last week and would have allowed you to charge your iPhone, Apple Watch and AirPods at the same time. Without AirPower, you need to have a separate wireless charging just to juice up AirPods, and I found I just didn’t use that function as much as I thought I would. Maybe if future iPhones let you wirelessly charge the AirPods that feature will be more compelling, but right now it isn’t. Ultimately, this model is a tiny upgrade over the first one. You don’t get water resistance, a feature other sportier buds have. They also don’t have noise canceling, like other pricey headphones have. The AirPods are the same size and shape as the standard wired buds that come with your iPhone, and they stayed in my ears just fine while working out in the gym. But I’ve heard that isn’t the case for everyone. We all have different sized ears, so if the first models didn’t fit right, these won’t either. There aren’t adjustable earbud covers to help them fit other ears, which you get with other products like Samsung’s Galaxy Buds.

Should you buy them?

Second-generation Apple AirPods with wireless charging indicator Todd Haselton | CNBC


Company: cnbc, Activity: cnbc, Date: 2019-04-01  Authors: todd haselton
Keywords: news, cnbc, companies, great, charging, apples, siri, dont, model, airpods, apple, case, need, iphone, todd, upgrade, wireless


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Thailand held an election more than a week ago — voters still don’t know who won

Thailand held a long-awaited general election on March 24 after five years of military rule. But the country’s new government will not be formed until May, which is when the final election outcome is expected to be released. No single party has so far emerged as a clear winner in the lower chamber vote, setting the stage for further uncertainty and political wrangling that could stretch on for months. On Thursday, the Election Commission of Thailand posted preliminary results on its website — wh


Thailand held a long-awaited general election on March 24 after five years of military rule. But the country’s new government will not be formed until May, which is when the final election outcome is expected to be released. No single party has so far emerged as a clear winner in the lower chamber vote, setting the stage for further uncertainty and political wrangling that could stretch on for months. On Thursday, the Election Commission of Thailand posted preliminary results on its website — wh
Thailand held an election more than a week ago — voters still don’t know who won Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-01  Authors: yen nee lee, ye aung thu, afp, getty images, -surakiart sathirathai, former thai cabinet member
Keywords: news, cnbc, companies, know, winner, ago, won, lower, election, went, week, party, chamber, dont, wrangling, held, website, political, voters, thailand


Thailand held an election more than a week ago — voters still don't know who won

Thailand held a long-awaited general election on March 24 after five years of military rule.

But the country’s new government will not be formed until May, which is when the final election outcome is expected to be released.

No single party has so far emerged as a clear winner in the lower chamber vote, setting the stage for further uncertainty and political wrangling that could stretch on for months.

On Thursday, the Election Commission of Thailand posted preliminary results on its website — which came after reporters and the public spotted discrepancies in earlier tallies.

Despite the lack of clarity on which way the votes went, two opposing political camps have claimed the right to form the new government.

Pheu Thai, an anti-military party linked to ousted former Prime Minister Thaksin Shinawatra, banded with six other parties. The alliance projected that it has at least 255 out of 500 seats in the House of Representatives, the lower chamber of Thailand’s legislative branch.


Company: cnbc, Activity: cnbc, Date: 2019-04-01  Authors: yen nee lee, ye aung thu, afp, getty images, -surakiart sathirathai, former thai cabinet member
Keywords: news, cnbc, companies, know, winner, ago, won, lower, election, went, week, party, chamber, dont, wrangling, held, website, political, voters, thailand


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China economy: smaller cities offer hopes of growth amid slowdown

Beneath the gloom overhanging China’s economy, some big companies are finding growth opportunities in smaller cities outside Beijing and Shanghai. Much of the growth for companies in these markets comes from smaller cities and county districts, which analysts say account for more than 70 percent of China’s population. “In our big picture now, these so-called lower-tier cities, they will be basically the major driver of growth in China in the next 10 to 15 years,” Robin Xing, chief China economis


Beneath the gloom overhanging China’s economy, some big companies are finding growth opportunities in smaller cities outside Beijing and Shanghai. Much of the growth for companies in these markets comes from smaller cities and county districts, which analysts say account for more than 70 percent of China’s population. “In our big picture now, these so-called lower-tier cities, they will be basically the major driver of growth in China in the next 10 to 15 years,” Robin Xing, chief China economis
China economy: smaller cities offer hopes of growth amid slowdown Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-01  Authors: evelyn cheng, qing qing, xinhua news agency, getty images, visual china group, -qin gang, deputy secretary general at center for china
Keywords: news, cnbc, companies, smaller, based, cities, hopes, amid, big, beijing, economy, chinas, china, slowdown, growth, companies, offer, lowertier


China economy: smaller cities offer hopes of growth amid slowdown

Beneath the gloom overhanging China’s economy, some big companies are finding growth opportunities in smaller cities outside Beijing and Shanghai.

Earnings and analyst reports released in the last few weeks indicate there are still many areas of untapped potential in the world’s second-largest economy.

In particular, five industries present prospects for growth: Internet, autos, healthcare, education and tourism. Much of the growth for companies in these markets comes from smaller cities and county districts, which analysts say account for more than 70 percent of China’s population.

“In our big picture now, these so-called lower-tier cities, they will be basically the major driver of growth in China in the next 10 to 15 years,” Robin Xing, chief China economist at Morgan Stanley, said in a phone interview Thursday.

China’s cities are separated into tiers based loosely on population and economic size. For example, Beijing, Shanghai, Shenzhen and Guangzhou are generally considered tier-one cities, while lower-tier cities are smaller.

Xing said his expectations for growth in less developed parts of China are based on the government’s push to develop city clusters, bringing the services and productivity levels of big cities within closer reach of the roughly 600 million people living in rural China.

He also pointed out that his growth predictions are based on the assumption that the Chinese government will follow through on reforms regarding benefits from residency permits known as “hukou,” as well as grant greater access to foreign firms.


Company: cnbc, Activity: cnbc, Date: 2019-04-01  Authors: evelyn cheng, qing qing, xinhua news agency, getty images, visual china group, -qin gang, deputy secretary general at center for china
Keywords: news, cnbc, companies, smaller, based, cities, hopes, amid, big, beijing, economy, chinas, china, slowdown, growth, companies, offer, lowertier


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Shares in Shenzhen pop as Chinese economic activity sees unexpected bounce

Stocks in Shenzhen surged on Thursday after a series of data released on Sunday and Monday showed Chinese economic activity improved unexpectedly in March. By the market close, the Shenzhen component jumped around 3.64 percent to 10,267.70 and the Shenzhen composite soared 3.571 percent to 1,755.67. Those moves came after both the private Caixin/Markit Manufacturing Purchasing Managers’ Index and the official Purchasing Managers’ Index (PMI) for March expanded unexpectedly, surprising analysts.


Stocks in Shenzhen surged on Thursday after a series of data released on Sunday and Monday showed Chinese economic activity improved unexpectedly in March. By the market close, the Shenzhen component jumped around 3.64 percent to 10,267.70 and the Shenzhen composite soared 3.571 percent to 1,755.67. Those moves came after both the private Caixin/Markit Manufacturing Purchasing Managers’ Index and the official Purchasing Managers’ Index (PMI) for March expanded unexpectedly, surprising analysts.
Shares in Shenzhen pop as Chinese economic activity sees unexpected bounce Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-01  Authors: eustance huang, vcg, visual china group, getty images
Keywords: news, cnbc, companies, unexpected, shares, pop, came, activity, data, chinese, bounce, purchasing, pmi, managers, sees, index, tan, weeks, shenzhen, manufacturing, economic


Shares in Shenzhen pop as Chinese economic activity sees unexpected bounce

Stocks in Shenzhen surged on Thursday after a series of data released on Sunday and Monday showed Chinese economic activity improved unexpectedly in March.

By the market close, the Shenzhen component jumped around 3.64 percent to 10,267.70 and the Shenzhen composite soared 3.571 percent to 1,755.67.

Meanwhile, the CSI 300, which tracks the largest stocks listed on the mainland, advanced 2.62 percent to 3,973.93.

Those moves came after both the private Caixin/Markit Manufacturing Purchasing Managers’ Index and the official Purchasing Managers’ Index (PMI) for March expanded unexpectedly, surprising analysts.

The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) came in at 50.8 for March. Analysts had expected it to come in at 49.9 for a second month, according to a Reuters poll of economists. A reading below 50 signals contraction, while a reading above that level indicates expansion.

That came on the back of Sunday’s release of the official PMI in China, which rose to 50.5 in March from February’s three-year low of 49.2. It marked the first expansion in four months, according to data released by China’s National Bureau of Statistics.

“Our view is the impact of policy easing is gradually kicking in, pushing up sequential growth indicators such as PMI first,” economists from Bank of America-Merrill Lynch said in a note.

In particular, they said, the “larger-than-expected tax/fee cuts and improving financial conditions” likely provided a boost to business sentiment in the country’s manufacturing space. Furthermore, demand for industrial restocking could also have risen as commodity and raw material prices experienced a rebound.

“I think this is indeed a good number,” Tan Min Lan, head of the Asia Pacific chief investment office at UBS Wealth Management, told CNBC’s “Street Signs” on Monday.

“It is a critical number because (I) recall that a couple of weeks back one of the key concern(s) of the market is that when factories shut during the Chinese New Year period, they may not (reopen) if orders do not materialize,” she said.

“I think this set of data, it’s critical, it’s important because it suggests that production did not fall over the cliff and that the fears over industrial deflation and the fears over an unemployment surge may have been overplayed,” Tan added.

The manufacturing numbers come amid ongoing tariff talks between the U.S. and China aimed at resolving their trade differences. High-level trade negotiations between the two economic powerhouses are set to resume in Washington this week following last week’s talks in Beijing.

— Reuters and CNBC’s Huileng Tan contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-04-01  Authors: eustance huang, vcg, visual china group, getty images
Keywords: news, cnbc, companies, unexpected, shares, pop, came, activity, data, chinese, bounce, purchasing, pmi, managers, sees, index, tan, weeks, shenzhen, manufacturing, economic


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China calls on New Zealand to provide ‘fair’ investment environment

China postponed a major tourism campaign in New Zealand days before its launch in February. “China also places a high importance on relations with New Zealand and is willing to,” he said. Ardern told Li that she wanted to underline the importance her country placed on its relationship with China. In 2008, New Zealand became the first Western country to sign a free trade agreement with China. “Human rights issues are things that New Zealand routinely raises in our bilaterals with China,” she said


China postponed a major tourism campaign in New Zealand days before its launch in February. “China also places a high importance on relations with New Zealand and is willing to,” he said. Ardern told Li that she wanted to underline the importance her country placed on its relationship with China. In 2008, New Zealand became the first Western country to sign a free trade agreement with China. “Human rights issues are things that New Zealand routinely raises in our bilaterals with China,” she said
China calls on New Zealand to provide ‘fair’ investment environment Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-01  Authors: naohiko hatta, pool, kyodo news, getty images
Keywords: news, cnbc, companies, meeting, zealand, country, chinese, calls, li, china, fair, investment, zealands, ardern, provide, environment, relationship, huawei


China calls on New Zealand to provide 'fair' investment environment

Chinese Premier Li Keqiang called on New Zealand on Monday to ensure a fair investment environment, as he meet Prime Minister Jacinda Ardern whose country has rejected a bid by Chinese telecom giant Huawei to build a 5G mobile network.

Ardern, on a one-day visit to China, said before meeting Li that she hoped to have a dialogue with Beijing about New Zealand’s intelligence agency’s decision to reject the bid.

Ties with China have been tense under Ardern’s government which has openly raised concerns about Beijing’s growing influence in the South Pacific.

China postponed a major tourism campaign in New Zealand days before its launch in February.

“At present, China-New Zealand ties overall are developing in a stable manner,” Li told Ardern at the start of their meeting in Beijing’s Great Hall of the people, noting New Zealand’s desire for good relations.

“China also places a high importance on relations with New Zealand and is willing to,” he said.

“And we hope that we can aspire to the greatest common denominator regarding each others’ interests and that when each sides businesses invest in each other’s businesses, they can enjoy a fair, transparent, convenient environment.”

Ardern told Li that she wanted to underline the importance her country placed on its relationship with China. In 2008, New Zealand became the first Western country to sign a free trade agreement with China.

“It is one of our most important and far reaching relationships,” she added. “We already enjoy a relationship with an impressive and innovative history and a very impressive future.”

Talking to reporters before the Li meeting, Ardern said she would set out the process New Zealand followed in the Huawei decision, and point out that there had been no political or diplomatic influence in the matter.

“This is an opportunity to have a dialogue to talk about the way the process has been undertaken to date and where it currently stands,” she said, adding that some media reports that suggest Huawei is banned in New Zealand are not true.

The interview with reporters was streamed on New Zealand’s 1NEWS.

Ardern has acknowledged there were complexities in the relationship with China, but has dismissed concerns of a rift with New Zealand’s largest trading partner.

The trip has been trimmed down to a one-day visit in the wake of an attack on two mosques in Christchurch on March 15 that killed 50 people.

Ardern said she also anticipated talks around an upgrade to the free trade agreement which has helped the Asian giant grow to become New Zealand’s largest goods export partner.

New York-based Human Rights Watch called in a letter to Arden last week for her to publicly express concern about the situation in China’s far Western region of Xinjiang when she meets Chinese leaders.

China has faced growing international opprobrium over a controversial de-radicalization program in the heavily Muslim populated Xinjiang, where critics say China is running internment camps.

China strongly denies this and calls them vocational training centers, defending its need to de-radicalize a part of the country where the government has blamed Islamist extremists and separatists for multiple attacks in which hundreds have died in recent years.

Ardern said New Zealand has raised the issue of Uighur Muslims in the past but did not specify if it would be discussed in the meetings on Monday.

“Human rights issues are things that New Zealand routinely raises in our bilaterals with China,” she said.


Company: cnbc, Activity: cnbc, Date: 2019-04-01  Authors: naohiko hatta, pool, kyodo news, getty images
Keywords: news, cnbc, companies, meeting, zealand, country, chinese, calls, li, china, fair, investment, zealands, ardern, provide, environment, relationship, huawei


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Stocks in Asia jump following better-than-expected Chinese economic data

Major markets in Asia surged on Monday following data released over the weekend that showed economic activity in China unexpectedly bouncing back in March. Mainland Chinese shares soared on the day, with the Shanghai composite up 2.58 percent to 3,170.36, while the Shenzhen component surged about 3.64 percent to 10,267.70. Both the private Caixin/Markit Manufacturing Purchasing Managers’ Index and China’s official Purchasing Managers’ Index (PMI) expanded unexpectedly in March, surprising analys


Major markets in Asia surged on Monday following data released over the weekend that showed economic activity in China unexpectedly bouncing back in March. Mainland Chinese shares soared on the day, with the Shanghai composite up 2.58 percent to 3,170.36, while the Shenzhen component surged about 3.64 percent to 10,267.70. Both the private Caixin/Markit Manufacturing Purchasing Managers’ Index and China’s official Purchasing Managers’ Index (PMI) expanded unexpectedly in March, surprising analys
Stocks in Asia jump following better-than-expected Chinese economic data Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-01  Authors: eustance huang, weizhen tan
Keywords: news, cnbc, companies, stock, saw, shares, japan, bank, unexpectedly, surged, data, chinese, stocks, asia, index, following, released, jump, shenzhen, betterthanexpected, economic


Stocks in Asia jump following better-than-expected Chinese economic data

Major markets in Asia surged on Monday following data released over the weekend that showed economic activity in China unexpectedly bouncing back in March.

Mainland Chinese shares soared on the day, with the Shanghai composite up 2.58 percent to 3,170.36, while the Shenzhen component surged about 3.64 percent to 10,267.70. The Shenzhen composite jumped 3.571 percent to 1,755.67.

Over in Hong Kong, the Hang Seng index was up 1.66 percent in its final hour of trading.

Both the private Caixin/Markit Manufacturing Purchasing Managers’ Index and China’s official Purchasing Managers’ Index (PMI) expanded unexpectedly in March, surprising analysts.

MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.94 percent, as of 3:18 p.m. HK/SIN

The Nikkei 225 in Japan jumped 1.43 percent to close at 21,509.03 as shares of index heavyweights Fast Retailing, Softbank Group and Fanuc all advanced. The Topix index also gained 1.52 percent to finish at 1,615.81.

Apple supplier Japan Display saw its stock surge 10.14 percent after the embattled company said it aimed to reach a financing agreement this week that would lead to a 60 to 80 billion yen (approx. $540 to $720 million) stock and bond issuance. Previous reports in January had suggested that Japan Display — suffering the impact of disappointing sales for Apple’s iPhone XR — was in advanced talks with an investor group from Taiwan and China to bail out the company.

The closely watched “tankan” survey by the Bank of Japan, released on Monday, had shown worsening business confidence among the country’s big manufacturers in the first quarter.

“The large manufacturing weakness is probably worrying for (the Bank of Japan) … in the sense that the economy isn’t picking up as quickly as perhaps as had been anticipated but the bigger issue … is not the economy,” Mitul Kotecha, senior emerging markets strategist at TD Securities, told CNBC’s “Squawk Box” on Monday.

Instead, Kotecha said inflation continues to be a bugbear for the Japanese central bank, where its target rate of 2 percent remains ever elusive.

Over in South Korea, the Kospi added 1.29 percent to finish at 2,168.28 as chipmaker SK Hynix saw its stock jump 3.23 percent.

Meanwhile, Australia’s ASX 200 rose 0.59 percent to close at 6,217.00, with most sectors seeing gains.


Company: cnbc, Activity: cnbc, Date: 2019-04-01  Authors: eustance huang, weizhen tan
Keywords: news, cnbc, companies, stock, saw, shares, japan, bank, unexpectedly, surged, data, chinese, stocks, asia, index, following, released, jump, shenzhen, betterthanexpected, economic


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