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China’s top securities regulator pledged to further open up the nation’s financial markets and boost foreign institutional access, with a focus on promoting Hong Kong as a global finance hub, as a trade war and decoupling risks stoke fears of contagion effects.Wu Qing, chairman of the China Securities Regulatory Commission (CSRC), said in a briefing on Wednesday that the watchdog would protect the interests of Chinese companies listed abroad and help high-quality firms that are listed overseas to offer shares on mainland and Hong Kong exchanges.The regulator would also streamline processes for Chinese firms to list abroad and strengthen Hong…

Nvidia CEO Jensen Huang said losing China’s artificial intelligence (AI) market would be a huge loss, with the market poised for significant growth in the coming years, as the chip designer faces tightening export restrictions from Washington.China’s AI market is likely to grow to US$50 billion in the next two to three years, Huang said in an interview with US broadcaster CNBC on Tuesday. “It would be a tremendous loss not to be able to address it as an American company,” he said.Selling to China would also help bring revenue back to the US, contributing to taxes and helping to…

REIMS, France (AP) — When Allied forces brought World War II in Europe and the Holocaust to an end 80 years ago this week, AP reporters and photographers were there, chronicling the Nazis’ historic defeat.Here are excerpts of AP news reports that momentous week:___EDITORS’ NOTE: On May 7, 1945, AP’s Edward Kennedy witnessed the German surrender in a French schoolhouse, and was the first to announce it to the Allied public, defying authorities who wanted to delay the news.The news was broadcast unofficially over German radio, but U.S. President Harry Truman and British Prime Minister Winston Churchill had agreed to…

International Industries Limited (IIL), one of Pakistan’s largest manufacturers and exporters of steel and polymer pipes, has launched a wholly-owned subsidiary in Ireland called INIL Europe Limited. The listed steel exporter shared the development in a notice to the Pakistan Stock Exchange (PSX) on Wednesday. “A new venture has now been launched by IIL in Europe. The company has set up a fully owned subsidiary, ‘INIL Europe Limited,’ in Ireland, with the primary goal of expanding its global presence by trading its products in Ireland and other European Union countries,” read the notice. The company stated that it remains focused…

Bitcoin rose alongside Asian stocks and a strengthening dollar after news that the US and China plan to hold trade talks.The largest digital asset rose about 3.2 per cent to top US$97,500 on Wednesday morning in Singapore before paring gains, while second-ranked Ether climbed as much as 4.2 per cent.The rally followed news that US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer will meet with the Chinese government this week in Switzerland, raising hopes that the world’s two largest economies can reach an agreement that may ease trade tensions. Meanwhile, India said in a statement early Wednesday that…

Bitcoin rose alongside Asian stocks and a strengthening dollar after news that the US and China plan to hold trade talks.The largest digital asset rose about 3.2 per cent to top US$97,500 on Wednesday morning in Singapore before paring gains, while second-ranked Ether climbed as much as 4.2 per cent.The rally followed news that US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer will meet with the Chinese government this week in Switzerland, raising hopes that the world’s two largest economies can reach an agreement that may ease trade tensions. Meanwhile, India said in a statement early Wednesday that…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.This article is an on-site version of our Unhedged newsletter. Premium subscribers can sign up here to get the newsletter delivered every weekday. Standard subscribers can upgrade to Premium here, or explore all FT newslettersGood morning. China’s services PMI fell to a 7-month low yesterday, adding to evidence that the country is being hammered by waning US demand. Other indices and sub-indices also came in cooler than anticipated in April: construction, manufacturing and, notably, employment. China is in a better political position…

A new survey has placed Senator Christopher “Bong” Go – a long-time aide to Rodrigo Duterte – near the top of the Senate race, with analysts saying the former Philippine president’s arrest by the International Criminal Court (ICC) has galvanised his supporters to back candidates allied with his coalition in next week’s midterm election.The senator came in second at 45 per cent, close behind popular broadcaster and incumbent party-list representative Erwin Tulfo at 49 per cent, in the list of Senate preferences, according to independent opinion firm WR Numero.Some 2,500 Filipinos nationwide were polled from April 23 to 30, with…

Rupee’s Performance Against US Dollar Since 04 March 2025 The Pakistani rupee posted a marginal decline against the US dollar, depreciating 0.04% in the inter-bank market on Wednesday. At close, the local currency settled at 281.47, a loss of Re0.1 against the greenback. On Tuesday, the rupee closed the day at 281.37. Internationally, the US dollar steadied on Wednesday before a Federal Reserve meeting to determine policy for an uncertain economy and as major investors in Asia continued cashing out of U.S. assets. News that the United States and China are due to talk on Saturday eased concerns about a…

China has expressed “regret” over India’s military action against Pakistan and voiced “concerns” over the escalating tensions between the South Asian nations, the Chinese foreign ministry said on Wednesday morning.“India and Pakistan are neighbours who cannot be moved away, and both are also China’s neighbours. China opposes all forms of terrorism,” the ministry said. 03:12India launches strikes on Pakistan, Islamabad vows to ‘settle the score’India launches strikes on Pakistan, Islamabad vows to ‘settle the score’“We call on both India and Pakistan to prioritise the overall situation of peace and stability, maintain calm and restraint, and avoid taking actions that would…