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China’s top securities regulator has pledged to widen foreign investors’ access to the mainland’s capital market while further lowering the fundraising threshold for technology firms, after a key indicator slumped nearly 4 per cent from a 10-year high in mid-November.Wu Qing, chairman of the China Securities Regulatory Commission (CSRC), set out guidance for the equity and bond markets in an article published by the Communist Party mouthpiece People’s Daily on Friday, three weeks after he was reported to have offered his resignation.The Chinese capital market requires a “deep transformation” to enhance its “inclusiveness and adaptability”, Wu said, calling for a…

PERTH: The Australian unit of US oil giant Chevron said on Friday that the partners of the Gorgon Joint Venture have approved the A$3 billion ($1.98 billion) Gorgon Stage 3 development off Western Australia’s northwest coast. The development will be used as backfill for the existing LNG export concern and will link the offshore Geryon and Eurytion natural gas fields to Gorgon’s existing infrastructure on Barrow Island. Chevron said in Gorgon Stage 3, six wells will be drilled across two fields, part of a series of planned subsea tiebacks. The project proposal was accepted in November by the offshore environmental…

TOKYO: The US dollar languished not far from a five-week low against its major peers on Friday as investors braced for a Federal Reserve rate cut next week. Markets widely expect a quarter point reduction when the policy-setting Federal Open Market Committee meets on December 9-10, and a focus will be on any signals about how much additional easing lies ahead. The dollar index , which measures the currency against six rivals, was flat at 99.065 early in Asia. A small gain overnight snapped a nine-day losing streak, but the index had dipped to a five-week low of 98.765 earlier…

BEIJING/SINGAPORE: WTI oil prices were poised for a weekly gain on Friday, supported by an expected Federal Reserve interest rate cut, escalating US-Venezuela tensions and stalled peace talks in Moscow, though both oil benchmarks dipped from the previous day. Brent crude fell 14 cents, or 0.2%, to $63.12 per barrel by 0400 GMT. The contract was largely stable on the week. US West Texas Intermediate (WTI) dipped 18 cents, or 0.3%, to $59.49 a barrel, although logging a weekly gain of about 1.6% and marking a second straight week of increase. “The market weighs the impact of lower CPC exports…

BEIJING: WTI oil prices were heading for weekly gains of close to 2% in early trading on Friday, supported by an expected Federal Reserve interest rate cut, escalating U.S.-Venezuela tensions and stalled peace talks in Moscow. It would be a second straight week of increases. Prices were little changed at market open on Friday, with Brent crude up 6 cents, or 0.09%, at $63.32 per barrel by 0104 GMT. U.S. West Texas Intermediate was up 4 cents, or 0.07%, at $59.71 a barrel. Both contracts settled up around 1% in the previous trading session. Of economists surveyed in a November…

ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday urged Kyrgyz investors to capitalise on emerging opportunities in Pakistan’s growing economy, emphasising the strategic role of Pakistani ports in providing Kyrgyzstan access to global markets. Speaking at the Pakistan-Kyrgyzstan Business Forum, he outlined a vision to strengthen economic ties between the two nations, emphasising Pakistan’s goal to turn its close political relationship with Kyrgyzstan into a solid economic partnership. He highlighted the importance of infrastructure projects, particularly a key railway link between the two Central Asian nations, which he said would unlock new economic opportunities for both. He also reaffirmed Pakistan’s commitment…

Moore’s shares began trading at 650 yuan amid a declining market, a 468 per cent jump from their initial public offering (IPO) price of 114.28 yuan. China’s benchmark CSI300 Index slipped 0.1 per cent.The surge in Moore reflects China’s prioritisation of technology self-sufficiency in a critical five-year plan that outlined the nation’s economic and social development goals through 2030. China is now engaged in a tit-for-tat competition with the US in the tech area from AI large-language models to sophisticated chips and robotics.Moore raised 8 billion yuan (US$1.13 billion) in the second-largest IPO on the mainland this year. Proceeds from…

Myanmar’s junta has grown so dependent on mainland China for political and economic support that it is highlighting issues such as Taiwan to signal “loyalty” towards Beijing and secure backing for an imminent election that the military hopes will legitimise its rule, according to analysts.This was on display last month when the military-led regime condemned Japanese Prime Minister Sanae Takaichi’s comments on Taiwan in language closely aligned with Beijing’s talking points, reflecting what analysts said was a significant narrowing of Naypyidaw’s foreign policy options since the 2021 coup.Beijing sees Taiwan as part of China to be reunited by force if…

Hong Kong stocks fell on Friday, set to end a choppy week virtually unchanged as the market traded sideways before a slew of key rate-decision and economic policy meetings in the world’s biggest economies.The Hang Seng Index dropped 0.2 per cent to 25,872.37 at the noon break, paring the gain for the week to 0.1 per cent. The Hang Seng Tech Index declined 0.3 per cent.On the mainland, the CSI 300 Index and the Shanghai Composite Index both added 0.1 per cent.Shenzhou International Group Holdings, the Chinese apparel maker that supplies to Nike, slid 4.1 per cent to HK$64 after…

Hong Kong stocks fell on Friday, set to record a loss for a week in which the market traded in a rangebound fashion before key decisions by the world’s central banks.The Hang Seng Index dropped 0.4 per cent to 25,837.80 as of 10.03am local time. The Hang Seng Tech Index dropped 0.5 per cent.On the mainland, the CSI 300 Index climbed 0.1 per cent and the Shanghai Composite Index was little changed.Trip.com Group tumbled 2.1 per cent to HK$544.50 and NetEase lost 1.8 per cent to HK$213.40. Alibaba Group Holding slid 0.8 per cent to HK$153.20 and Tencent Holdings slipped…