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China’s desperate stock traders keen for policy ‘bazooka’ to rouse US$10 trillion bear market from slumber
International Desk, RTV
18 Sep 2023, 15:00
Software engineer Jacky Jia has been paying more attention than usual to his stocks portfolio since China launched a torrent of measures aimed at boosting the beleaguered market in recent weeks. South China Monitoring Post Reported.
Regulators have slashed the stamp duty on transactions, restricted divestments by major shareholders and taken tighter control of approving new share offerings in a string of actions that have taken the immediate sting out of the sell-offs that have roiled the onshore market.
Having banked a reasonable return on the back of this, 45-year-old Jia is toying with the idea of investing a fixed amount of his salary in stocks every month going forward.
But something is holding him back. Like many of the 220 million retail investors at home, he is not fully convinced the government’s efforts go far enough to set equities on a path to long-term recovery.
“I’m about 60 per cent confident in the market,” said Jia, who works for a Japanese software company in Shanghai, in a recent interview. Despite the positive vibes on the policy front, “there’s no significant improvement in fundamentals,” he said. “The key issue is the lack of money and confidence. Of course, confidence matters more.”
The task of restoring that confidence, among both retail and institutional investors, rests with the China Securities Regulatory Commission (CSRC), the watchdog that oversees the nation’s US$10 trillion stock market. President Xi Jinping’s all-powerful Politburo made its move in a meeting in July, setting the tone for second-half economic policy.
Sentiment has been shaky for some months, as expectations of a strong post-Covid economic recovery failed to materialise and top policymakers refrained from launching a policy “bazooka” to kick-start growth. The term “bazooka” is often used to refer to a large-scale stimulus package, similar to the one Beijing launched during the 2008 global financial crisis.
The government has adopted a more piecemeal approach to economic stimulus. In the latest move, on Thursday, China’s central bank announced a fresh cut to the amount of cash banks must hold as reserves.
Source: South China Monitoring Post
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Taiwan 'Will Not Yield an Inch' of Land, Lai Says
Taiwanese President Lai Ching-te on Friday said that Taiwan would not give up an inch of its territory as he visited the Kinmen islands off the coast of China.
Lai was speaking at an event marking the 75th anniversary of the victory over communist forces in the Battle of Guningtou that saw the Kinmen and the Matsu islands fall under the control of Taiwan.
What Taiwan's president said
"(We) will not yield an inch of ground in Taiwan, Penghu, Kinmen, and Matsu to firmly defend our homeland," Lai said during an address in which he referred to the islands controlled by Taipei.
"The Battle of Guningtou lets us understand that democracy and freedom should not be taken for granted, but require the joint efforts of generations to defend them," Lai said.
Lai did not name China by name but said that "any external forces" would not be allowed to change the future of the islands.
Taiwan's leader told veterans and family members that the October 1949 Battle of Guningtou "represents our determination to protect our country."
China sees democratic Taiwan as its territory and maintains that the use of force to bring the island under its control is not off the table.
The Kinmen and Matsu islands
The Kinmen and Matsu islands lie close to China's coast but are under the control of Taipei.
They've been under the control of Taiwan since the defeated Republic of China government fled to Taipei in 1949 after losing a civil war with Mao Zedong's communists.
The Kinmen battle was a rare victory for Chiang Kai-shek's forces in the closing days of China's civil war.
Kinmen is home to a large Taiwanese military garrison and Taiwan's coast guard patrols its waters.
China conducted military exercises around Taiwan earlier this month which it said were a warning to "separatist acts."
Israel's Attack: All Flights from Iranian Airports Suspended
In the wake of airstrikes by Israel, all flights from Iranian airports have been canceled, according to a report by Reuters citing Iran’s state news agency IRNA.
A spokesperson for Iran's Civil Aviation Authority stated that flights on all routes have been suspended until further notice. It remains unclear when flights will resume.
Israeli media reported that Israel has also announced the closure of its airspace until 8:30 AM local time on Saturday, October 26.
Following Israel's attack on Iran, Iraq temporarily closed its airspace as well. According to Al Jazeera’s live report, Iraq’s Ministry of Transport has suspended all air travel at the country’s airports until further instructions are given.
On Friday night, the Israeli military issued a statement saying, “In response to attacks by Iran over the past few months, the Israel Defense Forces are currently carrying out targeted strikes on Iranian military installations.”
The United States has confirmed the Israeli strikes. National Security Council spokesperson Sean Savett said in a statement, “Israel is conducting precise strikes on various Iranian military sites for self-defense. This is in response to Iran’s attack on October 1.”
Israel Announces End of Attacks on Iran in Face of Resistance
Israel retreated to Iran's resistance. Iran's defense forces claimed to destroy Israeli drones in the air. Israel has announced that the attack on Iran has ended. BBC News.
Israel Defense Forces spokesman Daniel Hagari said Iran's response to the attack on Israel was "complete". We have conducted targeted strikes against military targets in Iran.
He warned in a message on social media that if Iran retaliates, Israel will be forced to respond strongly.
Meanwhile, Iran said it repelled the Israeli attack. Israeli drones have been destroyed in the air.
Earlier, Israel attacked Iran in the early hours of Saturday (October 26). Large explosions were heard in Iran and the neighboring city of Karaj. Iran's air defense system was launched at this time.
After the Israeli attack, Iran's official news agency IRNA reported that the country's defense forces had successfully destroyed enemy targets in the airspace around Tehran. In addition, another Iranian media outlet quoted officials as saying that Tehran is ready to respond to Israeli aggression.
A few weeks after Iran attacked Israel on October 1, Israel retaliated. Iran fired about 200 ballistic missiles at Israel in response to Israel's inhumane attacks on Gaza and Lebanon and the killing of Hamas and Hezbollah leaders.
19 Killed in Passenger Bus Accident in Mexico
At least 19 people have died in a passenger bus accident in Mexico.
The accident occurred on Saturday, October 26, on a highway in the central state of Zacatecas.
According to a CNN report, a tractor-trailer carrying corn crashed into the rear of the bus, causing it to lose control and plunge off the road.
Initially, authorities reported 24 fatalities, but the number was later revised to 19. Six injured passengers were taken to a hospital for treatment.
The bus was traveling toward Ciudad Juárez, a city in the border state of Chihuahua, but no migrants were among the victims.
The driver of the tractor-trailer has been arrested, and police have launched an investigation.
Road accidents are unfortunately common in Mexico. In December 2021, a tragic truck accident in Chiapas province killed 54 people, with the vehicle carrying around 166 passengers.
Tropical Storm Trami Claims 126 Lives, Hundreds Missing in Philippines
Tropical storm Trami has caused severe flooding and landslides in Philippines, leaving at least 126 people dead or missing, according to the government's disaster-response agency. President Ferdinand Marcos said on Saturday that many areas remain isolated, and people are in urgent need of rescue.
Trami, also known as Kristine, exited the northwestern Philippines on Friday, resulting in at least 85 deaths and 41 missing persons, making it one of the deadliest storms of the year in the region, according to the government agency. The death toll is expected to rise as more reports emerge from previously inaccessible areas.
Emergency personnel, including police and firefighters, are using backhoes and sniffer dogs to continue search and rescue efforts in the lakeside town of Talisay in Batangas province. In the town center, more than a dozen coffins bearing the remains of storm victims were lined up. These victims were discovered amidst mud, boulders, and trees from landslides.
President Ferdinand Marcos, who inspected another hard-hit region southeast of Manila Saturday, said the unusually large volume of rainfall dumped by the storm — including in some areas that saw one to two months’ worth of rainfall in just 24 hours — overwhelmed flood controls in provinces lashed by Trami.
"The water was just too much,” Marcos told reporters.
“We’re not done yet with our rescue work,” he said. “Our problem here is, there are still many areas that remain flooded and cannot be accessed even by big trucks."
His administration, Marcos said, would plan to start work on a major flood control project that can meet the unprecedented threats posed by climate change.
More than 5 million people were in the path of the storm, including nearly half a million who mostly fled to more than 6,300 emergency shelters in several provinces, the government agency said.
In an emergency Cabinet meeting, Marcos raised concerns over reports by government forecasters that the storm — the 11th to hit the Philippines this year — could make a U-turn next week as it is pushed back by high-pressure winds in the South China Sea.
The storm was forecast to batter Vietnam over the weekend if it would not veer off course.
To ensure public safety, the Philippine government closed schools and offices on Friday, and suspended inter-island ferry services, stranding thousands. As weather conditions cleared on Saturday, cleanup operations began in many areas.
The Philippines, situated between the Pacific Ocean and the South China Sea, experiences around 20 storms and typhoons annually. In 2013, Typhoon Haiyan left over 7,300 people dead or missing and devastated entire communities.
Elon Musk Reveals Tesla 2025 Motorhome for UNDER $17,000
Elon Musk has always been known for shaking up industries. From revolutionizing electric cars with Tesla to changing space exploration with SpaceX, he's consistently pushed the boundaries of innovation.
Elon Musk has done it again. Tesla has officially entered the world of eco-friendly living with the launch of its $17,000 electric motorhome, redefining the future of travel and sustainable living. Known for shaking up industries—from electric cars to space exploration—Musk is now set to revolutionize mobile living. This luxurious motorhome combines cutting-edge Tesla technology with energy efficiency, offering the perfect blend of comfort, mobility, and sustainability.
As housing trends shift towards minimalist lifestyles and sustainable solutions, Tesla's motorhome arrives at just the right moment. It taps into both the tiny house movement and the electric vehicle boom, providing an innovative solution for those who want to explore the world without sacrificing comfort or the planet. Join and explore how this new electric motorhome is poised to disrupt the automotive and housing markets, paving the way for the future of eco-conscious travel.
Musk has always had his finger on the pulse of what the future requires, and the Tesla motor home is his answer to the growing desire for a more flexible, eco-friendly lifestyle.
China Vows Countermeasures after US Arms Sale to Taiwan
Beijing vowed to take "all necessary measures" to assert its sovereignty over Taiwan after the latest round of US arms sales to the self-ruled island which China claims as its own.
The US State Department on Friday approved a $2 billion (€1.85 billion) arms sale package for Taiwan which includes surface-to-air missile systems and radar.
China vows countermeasures over Taiwan arms deal
The latest arms package "seriously violates China's sovereignty and security interests, seriously damages China-US relations and endangers peace and stability" in the strait, Beijing's foreign ministry said in a statement late Saturday.
"China strongly condemns and firmly opposes it, and has lodged solemn representations with the US," a ministry spokesperson said. The ministry called on the US to immediately stop arming Taiwan.
It added that Beijing would "take resolute countermeasures and take all necessary measuresto firmly defend national sovereignty, security and territorial integrity."
China has previously refused to rule out using force to bring Taiwan under its control.
Taiwan welcomes $2 billion arms deal
While the deal still has to be approved by Congress, Taipei's Defense Ministry on Saturday said it would "help the military continue to improve its defense resilience and jointly maintain peace and stability across the Taiwan Strait."
Although the US does not maintain formal diplomatic ties with Taiwan, it is obliged by law to provide the island with the means to defend itself from a Chinese attack. Under the Biden administration alone, there have been 17 arms sales to Taiwan.
"In the face of China's threats, Taiwan is duty-bound to protect its homeland, and will continue to demonstrate its determination to defend itself," the Tawainese Defense Ministry said.
Earlier in October, Taiwan said it detected 153 Chinese military aircraft and 14 navy ships around the island — which the defense ministry called a single-day record — as China conducted a major war drill. Beijing said the exercise should serve as a warning against "separatist acts."
