Latest Shanghai News

US futures edge down, euro hovers at 20-year low to dollar

Jul. 06, 2022 08:28 AM EDT

NEW YORK (AP) — U.S. futures slipped Wednesday and European benchmarks rose in early trading despite lingering anxieties about an economic slowdown that has pushed the euro to a 20-year low against the U.S. dollar. Futures for the Dow Jones Industrial Average fell 0.3% and futures...

Shanghai, Beijing order new round of mass COVID-19 testing

Jul. 06, 2022 05:49 AM EDT

BEIJING (AP) — Residents of parts of Shanghai and Beijing have been ordered to undergo further rounds of COVID-19 testing following the discovery of new cases in the two cities, while tight restrictions remain in place in Hong Kong, Macao and other Chinese cities. Shanghai has only...

Alleged Chinese police database hack leaks data of 1 billion

Jul. 05, 2022 20:36 PM EDT

HONG KONG (AP) — Hackers claim to have obtained a trove of data on 1 billion Chinese from a Shanghai police database in a leak that, if confirmed, could be one of the largest data breaches in history. In a post on the online hacking forum Breach Forums last week, someone using the...

Tesla's 2Q sales drop amid supply chain, pandemic problems

Jul. 02, 2022 14:07 PM EDT

DETROIT (AP) — Tesla's sales from April through June fell to their lowest quarterly level since last fall as supply chain issues and pandemic restrictions in China hobbled production of its electric vehicles. The company on Saturday disclosed it sold more than 254,000 cars and SUVs...

Asian shares mostly lower after pessimistic 'tankan' survey

Jun. 30, 2022 23:50 PM EDT

TOKYO (AP) — Asian benchmarks were mostly lower on Friday, echoing a decline on Wall Street, after a quarterly report by Japan’s central bank rekindled worries about the world’s third largest economy. Recent data suggest global growth is slowing as countries grapple with...

COVID restrictions ease in Shanghai as case numbers drop

Jun. 30, 2022 05:22 AM EDT

BEIJING (AP) — Shanghai is moving to allow in-person dining and reopening its Disney Resort theme park as domestically transmitted cases of COVID-19 in China’s largest city remain at zero following a more than two-month lockdown. Chinese officials hail their hardline...

China's factory activity improves after Shanghai reopens

Jun. 30, 2022 01:44 AM EDT

BEIJING (AP) — China's manufacturing activity improved in June after anti-virus controls that shut down Shanghai and other industrial centers were eased, a survey showed Thursday. The monthly purchasing managers’ index released by the national statistics bureau and an industry...

Asia stocks mixed after Wall St down, China manufacturing up

Jun. 29, 2022 23:48 PM EDT

BEIJING (AP) — Asian stock markets were mixed Thursday after the U.S. economy contracted and China reported stronger factory activity. Shanghai and Hong Kong gained, while Tokyo and Seoul declined. Oil prices advanced. Wall Street's benchmark S&P 500 index edged...

Hong Kong burnishes China ties as luster as global hub fades

Jun. 28, 2022 11:01 AM EDT

HONG KONG (AP) — Every few generations, Hong Kong transforms itself, evolving from a swampy fishing village to 19th century colonial port, to capitalist outpost and factory after China’s 1949 revolution, to 21st century financial center. As the former British colony marks the...

China reduces quarantine for people arriving from abroad

Jun. 28, 2022 06:43 AM EDT

BEIJING (AP) — China on Tuesday announced an easing of its quarantine requirement for people arriving from abroad but stopped short of lifting what remains a stringent COVID-19 policy compared to most other countries. Anyone coming from outside the country will be required to stay...