Asian markets mixed as China reports stronger manufacturing activity

Asian markets mixed as China reports stronger manufacturing activity

BEIJING — Asian stock markets were mixed Thursday after the U.S. economy contracted and China reported stronger factory activity. The Nikkei 225 NIK, -1.44% in Tokyo fell 1.3% after June industrial production slumped 7.2% compared with the previous month. That was the sharpest decline since the start of the coronavirus pandemic in early 2020. The … Read more

Indonesia’s president to bar Putin from G-20 gathering in Bali, Italian Prime Minister Draghi says

Indonesia’s president to bar Putin from G-20 gathering in Bali, Italian Prime Minister Draghi says

Italian Premier Mario Draghi says the Indonesian presidency of the Group of 20 nations has ruled out in-person participation by Russian President Vladimir Putin at the November meeting of the group in Bali. The Nov. 15-16 summit risked awkward diplomatic encounters if Putin were to have come. The Kremlin had said earlier that Putin intended … Read more

U.S. stock futures struggle to hold gains after GDP data

U.S. stock futures struggle to hold gains after GDP data

U.S. stock futures struggled for direction on Wednesday, leaving Wall Street potentially on course for a third consecutive day of losses, as investors fret that soaring inflation is damaging the world’s biggest economy and battering corporate profits. How are stock-index futures trading? S&P 500 index futures ES00, -0.05% were little changed at 3,826.5 Dow Jones … Read more

Sandvik to Book $98.5 Mln Charge in 2Q Amid Wind Down of Russia Ops

Sandvik to Book .5 Mln Charge in 2Q Amid Wind Down of Russia Ops

By Dominic Chopping STOCKHOLM–Sandvik AB said Wednesday that it will record a non-recurring charge of around 1 billion Swedish kronor ($98.5 million) in its second quarter operating results after deciding to wind down its operations in Russia. The Swedish engineering group paused its business activities in Russia on Feb. 28 due to the war in … Read more

NIO shares extend losses as Chinese EV maker denies short-seller report

NIO shares extend losses as Chinese EV maker denies short-seller report

NIO Inc.’s shares in Hong Kong extended declines in afternoon trading after the company denied accounting allegations in a report by short seller Grizzly Research LLC. The stock NIO, -2.57% NIO, -10.67% fell by as much as 10% to 167.80 Hong Kong dollars (US$21.38) on Wednesday and was recently 9.3% lower at HK$169.50. Grizzly Research … Read more