China and India have signed agreements to restructure their holdings of Zambian debt
The bankrupt southern African nation’s president has said, raising hopes that a delayed effort to exit a long-running default is back on track. Hakainde Hichilema said Zambia planned to resume talks with private creditors to resolve a “terrible debt mountain” of more than $13bn in external debt that Africa’s second largest copper producer stopped paying in 2020. Source: FT https://lnkd.in/exZS4E5d
BYD Co. debuted its most expensive car on Sunday
A 1.68 million yuan ($233,450) high-performance fully-electric supercar pitted against gas-guzzling options offered by rivals such as Ferrari NV and Lamborghini. The Yangwang U9 will initially be for the China market, the company said at a live-streamed event in Shanghai. The car can hit 100 km/h (62 mph) in 2.36 seconds and reach a top speed of 309.19 km/h, it said. Source: Bloomberg
The Nikkei has just surpassed its highest level in 35 years.
Japan being the birthplace of one of the oldest forms of technical analysis (Heikin-Ashi candlesticks), will this new-high signal reignite domestic investors’ long lost interest in their market?
China to send more pandas to US
China's Wildlife Conservation Association is working with the National Zoo in Washington in an arrangement that could bring more pandas back to the United States, signalling improving diplomatic relations between the two superpowers. China has lent its beloved bears to zoos in various countries over the years as goodwill animal ambassadors and also fostered a modern Sino-U.S. "panda diplomacy" with the gesture.Back in November, the National Zoo in Washington returned three pandas to China as part of a more than 50-year-old legacy, leaving Georgia's Zoo Atlanta as the only one in the U.S. with a giant panda program. Source : reuters
In case you missed it. Chinese stocks have now fully recovered from all year-to-date losses and are now green on the year.
Source: Barchart
Nikkei Parties Like It's 1989
A lot of attention has been focused on the Nikkei 225 index, which topped its all-time high, surpassing 39,000 and breaking the previous record of 38,957 set on the final trading day of 1989. The 34 years it has taken to regain its footing is also a record for a major market, and it's a decade longer than Wall Street took to recoup its losses from the 1929 crash and the Great Depression. source : bloomberg, reuters
Japan's Nikkei has hit a historic high not seen since 1989, marking an epic come-back for the country's stock market.
The Nikkei 225 hit an all-time high of 38,924.88 as robust corporate earnings and steps aimed at boosting investor returns fuel a blistering rally in Japanese equities this year. Nikkei and Topix have been standout outperformers in Asia Pacific, up more than 10% in 2024 after surging more than 25% in 2023 — their respective best annual gain in at least a decade. Source: Bloomberg, CNBC
CSI 300 is up some 11% from early Feb lows.
The index is well above the 50 day, and touched the 100 day for the first time since last summer. Source: TME
