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In May, the growth of business activity in the service sector of China was the slowest since February of this year, the report by Caixin Media and IHS Markit showed. The corresponding PMI was fixed at 52.7 points, which is 54.5 points lower than the previous month's value. The decline in the index was due to a slowdown in the growth rate of new orders, and especially export orders. In the service sector, there was also a significant slowdown in job creation. Chinese service firms have significantly increased their operating costs. At the same time, they grew a little slower than in April. Expenses for labor and raw materials showed the highest growth. The level of trust in the services sector fell to its lowest level since July 2018.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
Japan’s first-quarter business spending came smaller than what was initially estimated, revised data showed on Monday. This underscored a sharper damage that the novel coronavirus pandemic had inflicted on the world’s third-biggest ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
Oil prices fell on Monday as a surge in coronavirus cases and the escalating U.S.-China tensions prompted a safe-haven bid. Brent crude slid 0.2%, or 8 cents, at $43.26 per barrel. U.S. West Texas Intermediate crude fell 0.2%, or 7 cents, ...
The dollar was under pressure on Monday as the escalating U.S.-China tensions weighed on the market, while investors worried that the U.S. coronavirus resurgence could stall economic recovery. The dollar fell to a four-month low on the yen ...
KYC Policy