Latest Shanghai News

China's power cuts may foreshadow shortages of global goods

Sep. 27, 2021 20:44 PM EDT

BEIJING (AP) — Global shoppers face possible shortages of smartphones and other goods ahead of Christmas after power cuts to meet official energy use targets forced Chinese factories to shut down and left some households in the dark. In the northeastern city of...

Asian shares up, Shanghai slips as virus fears cloud outlook

Sep. 26, 2021 23:40 PM EDT

TOKYO (AP) — Asian shares were mostly higher Monday, but fears of further waves of coronavirus outbreaks were clouding the economic outlook for the region, tempering the rally. Japan's benchmark Nikkei 225 rose 0.3% to 30,35.62. Australia's S&P/ASX 200 gained 0.7%...

Chinese banks try to calm fears about developer's debts

Sep. 24, 2021 11:46 AM EDT

BEIJING (AP) — Trying to dispel investor fears, some Chinese banks are disclosing what they are owed by a real estate developer that is struggling under $310 billion in debt and say they can cope with a potential default. The announcements came as Evergrande Group...

Asian shares, Wall Street hold gains after Fed statement

Sep. 22, 2021 21:54 PM EDT

Asian shares were mostly higher on Thursday after the Federal Reserve signaled it may begin easing its extraordinary support measures for the economy later this year. Shares rose in Hong Kong, Shanghai, Australia and Taiwan but fell in South Korea and Malaysia. U.S....

Business group: China's tech self-reliance plans hurt growth

Sep. 22, 2021 21:08 PM EDT

BEIJING (AP) — The ruling Communist Party’s campaign to tighten control over China’s industries and use less foreign technology is slashing economic growth, a foreign business group warned Thursday. The European Union Chamber of Commerce in China appealed to Beijing...

Asian shares mostly lower after mixed trading on Wall Street

Sep. 21, 2021 22:52 PM EDT

Asian shares were mostly lower on Wednesday after major indexes ended mixed on Wall Street. Benchmarks fell in Tokyo, Shanghai and Taiwan but rose in Sydney. Markets in South Korea and Hong Kong were closed for holidays. The Bank of Japan kept its...

China keeps virus at bay at high cost ahead of Olympics

Sep. 21, 2021 20:32 PM EDT

BEIJING (AP) — The Beizhong International Travel Agency in the eastern city of Tianjin has had only one customer since coronavirus outbreaks that began in July prompted Chinese leaders to renew city lockdowns and travel controls. Most of China is virus-free, but the...

Asian shares extend losses as China worries darken sentiment

Sep. 20, 2021 23:25 PM EDT

TOKYO (AP) — Asian shares declined Tuesday, with Tokyo down 2% as worries about heavily indebted Chinese real estate developers weighed on sentiment. On Monday, U.S. stocks logged their biggest drop since May, with the tech-heavy Nasdaq composite sinking 2.2%. ...

Parents in China laud rule limiting video game time for kids

Sep. 20, 2021 13:18 PM EDT

Li Zhanguo’s two children, ages 4 and 8, don’t have their own smartphones, but like millions of other Chinese children, they are no strangers to online gaming. “If my children get their hands on our mobile phones or an iPad, and if we don’t closely monitor their...

Hong Kong shares lead Asia lower; Tokyo and Shanghai closed

Sep. 19, 2021 23:33 PM EDT

Shares fell more than 3% in Hong Kong on Monday in holiday-thinned trading in Asia, with other big markets in Tokyo and Shanghai closed. Other regional benchmarks also fell after Wall Street wrapped up last week with another decline. Investors are...