China’s manufacturing activity has fallen to its lowest level in four years, pointing to the need for more policy support to bolster economic growth and push structural reforms. The purchasing managers’ index (PMI) came in at 49, down from January’s 49.4, the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing said on Tuesday.
Chinese shares regained the 2,900-point mark on Monday, following the appointment of a new regulator head on Saturday.
USDCAD has formed lower highs on its 1-hour chart and has been finding support at the 1.3650-1.3700 area, creating a descending triangle chart pattern. Price appears to have found resistance at the top of the formation once more and might be due for another test of support.
Apple officially launched its much anticipated Apple Pay service in China on Thursday, through a partnership with China UnionPay, entering the country’s competitive mobile payment race. Users of the iPhone 6 or more advanced versions, certain iPads and Apple Watches will be able to use their devices to buy items across Apple’s second-largest market by revenue.
Stocks of mobile payment related companies soared on Tuesday over speculation that Apple Inc will introduce its cash-free smartphone payment service to China this week.
As each new year comes around, and we celebrate the new and say goodbye to the old, as traders we are never sure what it is precisely we are welcoming in, or indeed saying goodbye too.
Social media giant Facebook Inc (FB, quote) has been caught up in a great deal of controversy in Europe over the past year, as users complain that the firm’s privacy policies don’t align with those that govern each EU country.
China’s manufacturing activity contracted for the sixth straight month in January, signalling persistent weakness, official data showed on Monday.
As a trader and investor, I always find volatile markets the most interesting and rewarding.
China’s Zoomlion Heavy Industry Science & Technology Co confirmed on Wednesday an unsolicited takeover bid for Terex Corp, the US crane and construction machinery maker.
