China's stock market is struggling to emerge from an economic slump after falling into a bear market, with the "national team" seemingly propping up the index.
China's stock market struggled to shake off its slump on Friday after entering bear market territory, with investors increasingly questioning whether the country's highly sought-after AI sector can sustain its lofty valuations and offset broader economic woes. Reports indicate that the "national team" appears to be propping up stock indexes amid weak consumption and thin profit margins.
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24H Trending
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Asian markets broadly fell: The Hang Seng Index dropped 3.03% to a four-month low, and the Hang Seng Tech Index fell 5%; Brent crude rose 3.2% to $112.27, due to AI concerns and heightened tensions in the Strait of Hormuz.
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Middle East Tensions Escalate: Houthis Claim Multiple Attacks on Saudi Arabia, Brent Oil Surpasses $112, Iran Claims to Have Struck Oil Tanker in Strait of Hormuz
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Crypto traders value Indian telecom company Reliance Jio's IPO at approximately $110 billion.
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AI Companies and French Sovereign Debt Face Stress Test: CoreWeave CDS Spreads Exceed 1,000 Basis Points, France's 10-Year Government Bond Yield Breaks 5% for the First Time Since 2002, Moody's to Review France's Rating
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The 10-year U.S. Treasury yield fell by approximately 11 basis points from its previous close, now at 5.04%.
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Tesla and NVIDIA Invest KRW 3.7 Trillion in Samsung Electro-Mechanics, Securing AI Chip Substrate Production Capacity
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Houthis claim Saudi Arabia targeted an Indian boat in Red Sea, rescued 14 Indian nationals
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An Israeli court ordered the release of nine settlers suspected of attacking journalists and diplomats in the West Bank, as UN Secretary-General Guterres described the situation there as "out of control."
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Arbitrage trades in European government bonds have triggered successive liquidations, leading to nearly a hundred London traders exiting the market, with the French 10-year government bond yield surpassing 5%.
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The 30-year U.S. Treasury yield is down approximately 9 basis points from its previous close, currently at 5.35%.
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