China's benchmark index gains 0.39%
China's Shanghai Composite Index gained 0.39 percent to finish trading at 3,457.75. The day's trading ranged between 3,459.59 and 3,441.04. The Shenzhen Component Index closed 0.11 percent higher at 10,476.29.
China's manufacturing sector returned to growth in June on higher new orders and a renewed rise in production, survey data from S&P Global showed on Tuesday. The Caixin manufacturing Purchasing Managers' Index rose to 50.4 in June from 48.3 in May. A reading above 50.0 indicates expansion.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
35 minutes ago
- Time of India
Vietnam to pay 20 pc tariff on all goods exported to US after trade deal
US President Donald Trump on Wednesday announced a trade deal with Vietnam. Products from the South-Asian country in the US will attract a tariff of 20 per cent, while US products in Vietnam will be sold at zero tariff. Further Vietnam will pay 40 per cent tariff on transshipping. Trump said that the deal was made after speaking with To Lam, General Secretary of the Communist Party. In a post on Truth Social, Trump wrote, "It is my Great Honor to announce that I have just made a Trade Deal with the Socialist Republic of Vietnam after speaking with To Lam, the Highly Respected General Secretary of the Communist Party of Vietnam. It will be a Great Deal of Cooperation between our two Countries. The Terms are that Vietnam will pay the United States a 20% Tariff on any and all goods sent into our Territory, and a 40% Tariff on any Transshipping. In return, Vietnam will do something that they have never done before, give the United States of America TOTAL ACCESS to their Markets for Trade. In other words, they will 'OPEN THEIR MARKET TO THE UNITED STATES,' meaning that, we will be able to sell our product into Vietnam at ZERO Tariff." Trump said that SUVs, which do not sell in America, will do well in Vietnam. Live Events " It is my opinion that the SUV or, as it is sometimes referred to, Large Engine Vehicle, which does so well in the United States, will be a wonderful addition to the various product lines within Vietnam. Dealing with General Secretary To Lam, which I did personally, was an absolute pleasure. Thank you for your attention to this matter!"
India Gazette
an hour ago
- India Gazette
Russian IT sector sees Asia influx Kommersant
The number of foreign companies registering their businesses in the first half of 2025 was reportedly nearly double the total for 2024 The number of foreign IT companies applying to register their businesses in Russia surged sharply in the first half of 2025, with Asian firms leading the charge, Kommersant reported on Tuesday, citing research compiled by Kokoc Group. According to the data, around 3,000 foreign registration applications were filed in the first six months of the current year, compared to some 1,650 in all of 2024. India reportedly topped the list with more than 1,000 applications, followed by China with over 800, and Türkiye with around 150. IT firms from Africa and Persian Gulf nations are also increasingly seeking entry into the Russian market. Industry experts interviewed by the business daily attributed the surge to relatively low competition in Russia's large consumer market, rising demand for local IT solutions, and a shortage of Western software amid ongoing geopolitical shifts. Analysts also highlighted the crucial role of the growing digitalization of government services and business sectors. Foreign firms mainly target niches such as cybersecurity, cloud platforms, fintech, artificial intelligence, industrial enterprise resource planning (ERP) and customer relationship management (CRM) systems, Kommersant noted. Each country reportedly tends to focus on its traditional strengths, with China applying to register firms operating in telecommunications and fintech, and India targeting outsourcing and software development. Natalya Vozyanova, head of Asian client relations at the consulting firm TeDo, confirmed to the news outlet that there had been a notable rise in Chinese applications, adding that around 9,000 Chinese companies, primarily focused on the IT, technology, and engineering sectors, are currently registered in Russia. Interest from friendly foreign nations in the Russian IT market was evident, according to Kristina Kovalenko, CEO of Fork-Tech, who highlighted that Chinese developers find the Russian market largely untapped with respect to related hardware manufacturing. At the same time, Russian companies could face increased competition, possible price dumping, and talent migration, especially in high-margin areas, Mikhail Pryshlyak, Commercial Director of MD Audit, told Kommersant. He noted, however, that the new players could also stimulate partnerships, local integration, and demand for advanced IT services including security, DevOps, and support. Oleg Sazhin, advisor to the CEO of Content AI, noted that foreign companies are expected to face "their own difficulties" when entering the Russian market. These include lingering distrust among local customers towards new overseas suppliers following the exit of Western vendors, as well as strict government requirements to only use software from the country's official registry. (
Mint
an hour ago
- Mint
Wall Street Live: S&P 500, Dow Jones, Nasdaq drop on weak jobs data, Tesla rises on Q2 sales
US stock indices opened lower on Wednesday on weak US private jobs data, while Tesla shares surged sharply after its second quarter sales report. At the opening bell, the Dow Jones Industrial Average fell 39.3 points, or 0.09%, to 44455.66. The S&P 500 fell 4.1 points, or 0.07%, to 6193.88, while the Nasdaq Composite dropped 18.5 points, or 0.09%, to 20184.374. ADP National Employment Report showed that US private jobs unexpectedly fell in June and job gains in May were smaller than initially thought. The weaker-than-expected jobs data fuelled expectations that the US Federal Reserve may slash interest rates sooner than expected. Fed Chair Jerome Powell on Tuesday reiterated that the central bank is taking a patient approach to further interest rate cuts. Gold prices rose on Wednesday on weak jobs data. Spot gold was up 0.3% at $3,347.59 per ounce, as of 1246 GMT. US gold futures rose 0.3% to $3,358.10. Spot silver rose 0.7% to $36.33 per ounce, platinum was up 1.9% to $1,375.91, while palladium gained 1.9% to $1,120.87.
