China Pushes Elderly Vaccination as Reopening Pressure Grows

The highly infectious nature of the variant that’s circulating could eventually skirt the restrictions that are in place, making a widespread outbreak unavoidable, experts said. It would be very hard to suppress the mass spread of any omicron variant in China because there is so little immunity in the population, said Eric Topol, director of … Read more

China touts vaccination progress as it looks for a path to reopening

BEIJING — Mainland China announced significant progress Tuesday in getting Covid-19 booster shots for people “over age 80.” As of Monday, 65.8% of that age category had received booster shots, an official told reporters. That’s up from 40% as of Nov. 11, according to prior disclosures. China also announced a new push to get its … Read more

China’s Covid infections drop for the first time in more than a week

Covid control workers disinfect an area in Beijing on Monday, Nov. 28, 2022, where a day earlier locals had gathered to protest stringent Covid measures. Kevin Frayer | Getty Images News | Getty Images BEIJING — Mainland China reported the first decline in daily Covid infections in more than a week on Monday. The country … Read more

XPeng Stock Gets Another Downgrade. It’s Becoming More Controversial Than Tesla.

Shares of pure-play electric vehicle producers can be controversial on Wall Street. High-growth car stocks can be difficult to value when the traditional auto players trade for less than seven or eight times estimated earnings. Shares of Chinese EV maker XPeng (ticker: XPEV) are now one of the most controversial EV stocks, supplanting even Tesla … Read more

China might not make major changes to its Covid policy any time soon

A couple pass necessities over a Covid lockdown barrier in Guangzhou city on Nov. 17, 2022. Future Publishing | Future Publishing | Getty Images BEIJING — China won’t likely make major changes to its Covid policy in the near future despite this weekend’s protests, analysts said. One of the reasons for public unrest was the … Read more

Stocks, China Assets Face Rough Open as Covid Unrest Hits Mood

The dramatic turn of events adds fresh uncertainties to the outlook of the world’s No. 2 economy and its markets, just as some recent loosening of virus controls and sweeping property rescue efforts have helped Chinese stocks stage a remarkable rebound. The protests, triggered by a deadly fire in an apartment block under lockdown in … Read more

Charting the Global Economy: OECD Raises Inflation Forecast

(Bloomberg) — Central banks around the world must be steadfast in their inflation fight even though economies will suffer as a result, the OECD said this week. The organization boosted its 2023 inflation estimates and said it expects price increases the following year will remain above the targets set by many global central banks. While … Read more

Tesla recalls more than 80,000 cars in China over software, seatbelt issues

Tesla is recalling more than 80,000 cars in China. Investors will be watching to see if there will be any reputational damaged to the U.S. giant. Future Publishing | Future Publishing | Getty Images Tesla is recalling more than 80,000 cars in China over software and seatbelt issues, the Chinese market regulator said Friday. The … Read more

Mainland China’s total daily Covid cases soar above Shanghai lockdown highs

Only a few vehicles, including one with two health workers, drive through Beijing’s central business district on Nov. 23, 2022, as the area has announced tighter Covid controls. Kevin Frayer | Getty Images News | Getty Images BEIJING — Mainland China reported more than 31,000 Covid infections for Wednesday, including cases without symptoms. That surpassed … Read more

Alibaba and Stocks Are Rising. Don’t Thank Singles Day Sales Results.

Alibaba and stocks were rising on Monday, but the price action didn’t seem to be driven by sales results from the closely-watched annual Singles Day event. Alibaba (ticker: BABA) was up 2.5% in U.S. premarket trading, with shares in e-commerce peer (JD) gaining 3.5%, beating out futures tracking both the S&P 500 index … Read more