Asian stock indices started the working week without any dynamics, while the stock markets of mainland China and Hong Kong went negative on the statistics.
China’s economy expanded 3.9% in the third quarter compared to the same period last year, the State Bureau of Statistics (GSO) said. Thus, the growth rate accelerated significantly compared to 0.4% in April-June. Analysts on average expected an increase of 3.4-3.5%.
China’s GDP in January-September increased by 3%. This is significantly below the target set by the authorities of the country as a whole for 2022 at the level of about 5.5%, experts say.
Retail sales in the country in September increased by 2.5% compared to the same month a year earlier, the CSO also reported. This is the minimum rate of recovery over the past four months. The consensus forecast assumed growth of 3.3%.
China’s foreign trade surplus widened unexpectedly in September, as import growth was significantly weaker than exports. Imports increased by only 0.3% in annual terms, exports grew by 5.7%. Analysts polled by The Wall Street Journal, on average, predicted the growth of the first indicator by 1%, the second – by 4%.
The Chinese Shanghai Composite index decreased by 1.2% by 08:37 Moscow time. Hong Kong’s Hang Seng plunged 5.4% to its lowest in more than thirteen years.
Shares of Internet companies Meituan (SPB: 3690) (-12.4%), Baidu Inc. (SPB: BIDU) (-10.7%) and Tencent (SPB: 700) Holdings Ltd. (-9.2%), as well as the developer Longfor Group Holdings Ltd. (-12.2%).
Retailers Alibaba Group (SPB: BABA) and JD.com Inc. (SPB: JD) lost 10.4% and 11%, respectively.
Among the components of Hang Seng, only six stocks show an increase in value, including HSBC bank (+0.5%), developer CK Infrastructure Holdings Ltd. (+3.4%) and electrical equipment manufacturer Techtronic Industries Co. (+1.1%).
The value of the Japanese Nikkei 225 increased by 0.5% by 08:33 Moscow time.
The stocks of the transport companies Kawasaki Kisen Kaisha Ltd. have risen most significantly. (+4.4%), Mitsui O.S.K. lines ltd. (+4.2%) and Nippon Yusen K.K. (+3.7%), as well as non-ferrous metal producer Sumitomo Metal Mining Co. (+4.1%).
The South Korean Kospi index added 0.9% by 08:30 Moscow time.
Quotes of securities of one of the world’s largest manufacturers of chips and electronics Samsung Electronics Co. rise by 2.7%, while the cost of automaker Hyundai Motor fell by a similar amount.
The Australian S&P/ASX 200 rose 1.5%.
The capitalization of the world’s largest mining companies BHP and Rio Tinto increased by 2.6% and 1.2%, respectively.
In addition, shares of all four largest banks in the country fell in price: Commonwealth Bank – by 1.2%, ANZ Bank – by 0.2%, Westpac Banking – by 0.6% and National Australia Bank – by 0.7%.
China will not seek hegemony and expansion in the world, instead, Beijing will focus on enhancing such universal values as peace, development, equality, justice, democracy and freedom, the Embassy of the People’s Republic of China in Ukraine reports.
“China will never strive for hegemony and expansion, but will increase human values such as peace, development, equality, justice, democracy and freedom. China will adhere to the full implementation of strict party discipline and promote the fight against corruption with zero tolerance and without the slightest connivance,” the embassy said in a statement dedicated to the opening of the 20th National Congress of the Communist Party of China.
It notes that the Congress was attended by 2,296 delegates on behalf of more than 96 million members of the CPC.
Xi Jinping, General Secretary of the CPC Central Committee, made a speech at the Congress, summarizing the major transformations and great achievements made in China over the past 10 years, including celebrating the centenary of the founding of the CPC, ushering in a new era of socialism with Chinese characteristics, and accomplishing the task of to combat absolute poverty and comprehensively build a moderately prosperous society.
“The report noted that China’s economic power has made a historic leap, with a total economic capacity of 18.5% of the world economy. The report presented the successful methods that China needs to follow for further development, and also described China’s grandiose plans and main political course for the development of China. for the next 5 years or longer, such as: improving the material condition and well-being of the people, improving their quality of life, promoting “green” development, increasing the importance of developing the state through science and education, building up state power through highly qualified personnel, as well as accelerating the creation world-class army,” the embassy stressed.
They note that, according to the report of the General Secretary of the CPC Central Committee, China will never seek hegemony and expansion in the world.
In addition, the report also clearly presented the central task of the Chinese Communist Party to lead the country’s multi-ethnic people unitedly on the road to building a “prosperous and powerful, democratic and cultural, harmonious and beautiful socialist modernized state, and through Chinese-style modernization to comprehensively promote great rejuvenation of the Chinese nation.”
“The China National Congress of the CCP, which is held every 5 years, is the most important meeting that pushes forward the building of the CCP, as well as development and reform in China. Since China has already successfully realized the first century goal of comprehensively building a moderately prosperous society and embarked on a new historical path to achieve the goal of the second century, this Congress is of paramount importance for the development of China,” the diplomatic mission concluded.
Six vessels carrying nearly 154,000 tonnes of foods departed from Ukrainian ports on Thursday after receiving approval from the Joint Coordination Center (JCC).
“The Joint Coordination Center (JCC) reports that six vessels left Ukrainian ports today [on October 13] carrying a total of 153,505 metric tonnes of grain and other foods under the Black Sea Grain Initiative,” the center said.
In particular, the Wei He vessel is heading to China with 62,860 tonnes of sunflower meal on board, the Marlen bulker is carrying 33,000 tonnes of sunflower oil to Iraq, the Irmgard is carrying 30,817 tonnes of rapeseed to Germany, and the Ak Hamza is carrying 7,000 tonnes of corn to Lebanon.
Another two vessels – the Dignity (14,000 tonnes of corn) and the Yaf S (5,828 tonnes of wheat) – are bound for Turkey.
“Grains that reach a destination may go through processing and be transshipped to other countries,” the JCC said.
“As of October 13, the total tonnage of grain and other foodstuffs exported from the three Ukrainian ports is 7,363,704 metric tonnes. A total of 666 voyages (335 inbound and 331 outbound) have been enabled so far,” the center said.
The United Nations, Russia, Turkey and Ukraine signed a document in Istanbul on July 22 on opening a corridor to export grain from three Ukrainian ports – Chornomorsk, Odesa and Yuzhny.
CHINA, GERMANY, IRAQ, LEBANON, TURKEY, Ukrainian foods, VESSELS
U.S. chip makers are recalling employees from China’s leading memory chip maker, Yangtze Memory Technologies Co. (YMTC), writes The Wall Street Journal, citing informed sources.
In particular, we are talking about KLA Corp. and Lam Research Corp., which are suspending cooperation with a Chinese state-owned company after Washington imposed restrictions blocking the supply of high-tech semiconductor components and equipment for their production in China.
U.S. companies have suspended maintenance on existing equipment at the YMTC facility and have also stopped installing new equipment, sources said.
In total, dozens of employees of American companies are involved in the plant, who play a key role in maintaining the operation of the enterprise, having the expertise necessary for high-tech production, the sources say.
If these employees do not return to work, YMTC will not be able to modernize production in the future, and will also face difficulties when equipment needs to be repaired.
Under new export controls announced last Friday, high-performance computing, supercomputing and artificial intelligence (AI) chips made using US technology can only be sold to China with an export license.
Washington also banned US citizens and organizations from working with Chinese chipmakers without special permission.
In addition, the US-announced package severely restricts exports to China of chip manufacturing equipment and technologies that local companies could use to develop their own equipment.
According to Boston Consulting Group estimates, US companies account for 41% of global production of equipment for the production of chips, China – no more than 5%.
The Joint Coordination Centre (JCC) authorized five outbound vessels loaded with food on Thursday within the framework of the Black Sea Grain Initiative, the UN has reported.
“JCC authorized the movement of five ships carrying a total of 83,241 tonnes of grain and other foodstuffs as part of the Black Sea Grain Initiative,” the UN said.
The UN reported that vessels Jasmin Queen (9,531 tonnes of corn), Captain Adam 1 (9,300 tonnes of wheat) and Filyoz (4,410 tonnes of sunflower oil) will go to Turkey. The Kiran America ship will head to China with 50,000 tonnes of barley and corn, while the Santana ship will deliver 10,000 tonnes of wheat to Italy.
In addition, vessel Dignity (8,200 tonnes of sunflower seeds) previously postponed the departure from the port of Chornomorsk to Thursday, September 8. It is planned that it will go to Turkey.
“As of September 7, the total tonnage of grain and foodstuffs exported from the three Ukrainian ports is 2.335 million tonnes. In total, the movement of 211 ships has been authorized at the moment – 111 inbound and 100 outbound,” the UN said.
In Istanbul on July 22, with the participation of the UN, Ukraine, Turkey and Russia, two documents were signed on the creation of a corridor for the export of grain from three Ukrainian ports – Chornomorsk, Odesa and Pivdenny.
Black Sea Grain Initiative, CHINA, ITALY, SHIPS, TURKEY, Ukrainian food
Speaker of the House of Representatives of the US Congress Pelosi should land in Taiwan an hour earlier than the time previously published in various media (at 16:20 Kyiv time). Her delegation will consist of 40 people.
The visit of the Speaker of the House of Representatives may last until 5:00 pm Wednesday local time.
Earlier, a Boeing C-40C special flight carrying Nancy Pelosi arrived in Singapore on Sunday, according to Flightradar data.
Prior to this, the aircraft took off from the Hawaiian Islands, where it made an intermediate landing after flying from the continental United States.
Speaker of the House of Representatives of the US Congress Nancy Pelosi went on an official trip to Asia, during which she will visit Singapore, Malaysia, South Korea and Japan, her press office said in an official statement. It is indicated that Pelosi led the American delegation, the purpose of which is to conduct negotiations on trade, security, climate change and the COVID-19 epidemic.
At the same time, the message does not mention the possibility of her visit to Taiwan, which she previously announced.
Tensions over a possible visit to Taiwan by Pelosi rose after Chinese President Xi Jinping, in a telephone conversation with US President Joe Biden on Thursday, said that the position of the Chinese leadership and the people of the country on the Taiwan issue is firm, and that “the United States must respect” the principle of one China.” He also warned Biden against “playing with fire” on Taiwan.
Previously, the YouTube channel “Club of Experts” called Pelosi’s possible visit to Taiwan a top event. For a more detailed analysis of upcoming events in Ukraine and the world, see the video review of the Expert Club channel at the link
