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Chinese investors have seen 390 million yuan (US$54.8 million) wiped off the value of exchange-traded funds (ETFs) tracking Japanese stocks, as relations between the Asian neighbours plunge to a new low after Prime Minister Sanae Takaichi’s remarks on Taiwan drew the ire of Beijing.The five ETFs listed on mainland exchanges – four tracking the Nikkei 225 and one mimicking the Topix index – have dropped about 5 per cent over the past two weeks, underscoring how worsening ties could weigh heavily on Japan’s economy, which is already grappling with accelerating inflation amid public complaints about rising living costs.The tumult hit…

Washington needs to accelerate arms sales to Taiwan and help establish a regional contingency stockpile for its defence, the US Senate heard on Thursday.Such steps would help implement provisions in a landmark 2022 law – the Taiwan Enhanced Resilience Act (TERA) – that have not yet been fully realised, as well as boost morale on the self-governed island, witnesses said at a hearing hosted by the powerful Senate Foreign Relations Committee.Years-long delays and unimplemented authorities have fuelled concerns in Taiwan and elsewhere that US support is softening as Washington seeks to stabilise ties with Beijing – a perception they said…

Washington should tighten its export controls by adding inspection staff and plugging loopholes to slow Beijing’s chipmaking advances and curb evasion efforts with support from allies such as the Netherlands and Japan, US lawmakers and experts said on Thursday.Such actions should be deployed, including empowering the Bureau of Industry and Security (BIS) to close trade loopholes and also targeting China’s national champion firms in the semiconductor sector as well as their US subsidiaries, according to a public hearing organised by the US House Committee on Foreign Affairs.The proposals arrived as the administration of US President Donald Trump agreed on a…

China’s lending since the turn of the century has been “vastly” larger than previously understood, with loans and grants increasingly going to developed countries including the United States – the largest recipient – according to a new report by an American university research team.Of the US$2.2 trillion disbursed by China’s “official sector” between 2000 and 2023, nearly US$202 billion went to projects in the US, the AidData research lab at Virginia-based university William & Mary found.“Our data demonstrate that the US – a high-income country – is the single largest recipient of official sector credit from China. This finding is…

The artificial intelligence boom may seem unstoppable, but a growing number of investors and observers are increasingly worried that this surge resembles a bubble on the verge of bursting.   After the Nasdaq technology index rose more than 50% from its April lows, it has fallen nearly 5% this month. Investors fear it may take longer than expected to generate the major profits they had hoped for after pouring trillions of dollars into the next wave of technology.   Those who witnessed the dot-com bubble and its collapse in the early 2000s say parts of today’s enthusiasm feel familiar. Optimists,…

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Markets : There was an ugly reversal in the market Thursday. Stocks soared for most of the morning in reaction to Nvidia ‘s strong quarter, bullish outlook on AI spending, and pushback that customers weren’t generating a sufficient return on their investment. Nvidia shares climbed as high as $196 on Thursday — a roughly 5% gain — and its gravitational pull helped lift other technology and AI-adjacent industrial stocks. The market’s…

CrowdStrike is setting the standard for modern cybersecurity and enjoying a well-deserved, incredible year for its stock. It’s a leader in a competitive industry, with rivals, such as fellow Club name Palo Alto Networks , all vying for companies’ ever-expanding cyber budgets. Despite strong earnings Wednesday evening, Palo Alto shares dropped sharply in Thursday’s big market reversal. Nvidia ‘s post-earnings rally fizzled and took Wall Street down with it. Even CrowdStrike, which had been up strongly earlier in the session, turned lower. For the year as a whole, however, CrowdStrike has been a market standout as the company expands artificial…

British Prime Minister Keir Starmer will visit China at the end of January, Sky News reported on Thursday, in what would be the first visit to the country by a British leader in seven years.Starmer’s Labour government has made improved relations with Beijing a priority as it seeks foreign investment to make good on its election pledge to upgrade infrastructure and grow Britain’s economy.But the relationship has been bumpy, with both countries trading accusations of spying.The prime minister’s office said it would set out any travel plans in the usual way when asked about a possible Starmer visit. The Chinese…

Bitcoin (BTC-USD) posted a mild rebound on Thursday, trading near 92,000 dollars as stronger-than-expected earnings from Nvidia (NVDA) helped lift risk assets and pushed cryptocurrency-mining stocks higher. The move comes after a volatile week marked by record outflows from spot Bitcoin ETFs and a brief drop below the key 90,000-dollar level.   Nvidia’s upbeat results, released late Wednesday, temporarily eased concerns about a potential slowdown in the AI sector. The company reported third-quarter revenue of 57.01 billion dollars, up 62% year-on-year, and issued strong guidance for the fourth quarter.   CEO Jensen Huang said demand for AI chips continues to…

NEW DELHI: India’s Reliance Industries has stopped importing Russian crude oil into its refining complex at Jamnagar in western Gujarat state, effective November 20, its spokesperson said on Thursday. The Indian conglomerate, which has a long-term deal to buy nearly 500,000 barrels a day of crude from Russian major Rosneft had said it would abide by sanctions against Moscow while maintaining ties with current oil suppliers. Britain, the European Union and the U.S. have imposed sanctions on Russia over its war in Ukraine, with fresh U.S. sanctions targeting its two top oil producers, Rosneft and Lukoil. From December 1, all…