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According to Fox News: Following an earlier U.S. airstrike, Iran has again launched missile and drone attacks against Gulf states.N Yonglis stock price initially surged by over 100%, but the increase has since fallen back to 87.5%.Qiyunshan Food (02797.HK) surged over 120% on its first day of trading, currently trading at HK$17.67 per share, compared to its issue price of HK$8 per share.On July 9th, Dong Lijuan, Chief Statistician of the Urban Division of the National Bureau of Statistics, interpreted the CPI and PPI data for June 2026. On a month-on-month basis, the national CPI decreased by 0.3%. Affected by fluctuations in international market prices, domestic gold jewelry and gasoline prices decreased by 8.7% and 4.9% respectively, with the declines widening by 5.9 and 4.6 percentage points respectively compared to the previous month. These combined contributed to a month-on-month decrease of approximately 0.22 percentage points in the CPI, an increase of approximately 0.19 percentage points in their downward pull on the CPI compared to the previous month. Food prices decreased by 0.4%, the same decline as the previous month, contributing to a month-on-month decrease of approximately 0.07 percentage points in the CPI. In the food sector, abundant seasonal fruits and vegetables led to ample market supply, resulting in a 1.0% and 2.0% decrease in fresh vegetable and fruit prices, respectively, contributing to a combined month-on-month decrease in CPI of approximately 0.06 percentage points. Pork and aquatic product prices decreased by 0.8% and 0.6%, respectively, contributing to a combined month-on-month decrease in CPI of approximately 0.02 percentage points. Meanwhile, low laying hen inventory, coupled with a decline in egg production due to high temperatures, led to a 7.0% increase in egg prices, contributing to a month-on-month increase in CPI of approximately 0.03 percentage points.Zhipu (02513.HK) rose more than 10% as the company plans to raise over HK$31.4 billion through a share placement at a discount of approximately 13%.

Profit Increases for Chinese Shipping Giant COSCO in the First Nine Months

Aria Thomas

Oct 11, 2022 11:21

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Increases in sea freight rates have enabled COSCO SHIPPING Holdings Co Ltd (SS:601919), the publicly traded company of the eponymous shipping behemoth, to forecast a higher net income for the past nine months.


The company forecasts a net profit attributable to shareholders of approximately 97.21 billion yuan ($13.59 billion) for the nine months ending September 30, 2017, a 43.7% increase over the same period in 2016. The anticipated earnings before interest and taxes amount to 143.59 billion yuan, an increase of over 50 percent from the prior year.


COSCO explained to the Hong Kong Stock Exchange that export freight rates remained high due to the tight supply-and-demand connection in international transportation.


The company's decision to implement cost-cutting measures has been attributed to both a local epidemic of COVID-19 and broader geopolitical tensions stemming from the conflict between Russia and Ukraine.


Despite a slowdown in domestic output and a decline in demand for exports and imports, China's commercial activity has remained relatively constant thus far in 2018. Nonetheless, the steep decline in China's trade balance during the month of August may portend oncoming difficulties for large maritime corporations.


In August, import growth was virtually nonexistent, while export growth in China decreased from 18% to 7.1%. As a result, China's trade surplus shrunk to $79.39 billion in August, significantly below market expectations, as global economic turbulence hampered export demand.


This week, additional information regarding China's international trade in September is expected to become available. This information will also serve as a baseline for the economy, which is still feeling the consequences of this year's COVID lockdowns.


As trade has slowed, shipping expenses have increased. According to data from the Shanghai Shipping Exchange, following a rather strong first half of the year during which COVID-related disruptions pushed up container reservations, Chinese shipping costs have declined considerably in recent months.

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