SK Hynix shares jump nearly 12%, tracking US stock gains
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China posts slowest GDP growth since 2022 at 4.3%, missing expectations
China's economy grew 4.3% in the second quarter, its weakest pace since 2022. Gross domestic product growth came in at 4.3% in the April to June period, data from the National Statistics Bureau showed Wednesday, missing economists' forecast for 4.5% growth in a Reuters poll, and slowing from 5% in the first quarter. That second-quarter growth came below Beijing's full-year growth target range of 4.5% to 5%, the least ambitious goal in decades, amid tensions with trade partners, including the...
Dollar struggles as softer inflation dims Fed hike bets
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FTA with UK comes into effect today, exports to get a boost
After years of negotiations and an over year-long implementation process, the free trade agreement between India and the UK is set to be rolled out Wednesday, opening up the possibility of Indian exporters competing more favourably with shipments from Bangladesh and China, and allowing greater access to Indian service providers and professionals. "The target is that in the next three-four years, we will be able to reach $100 billion," commerce secretary Rajesh Agrawal told reporters, ahead...
SK Hynix South Korean shares jump 11% as Asia tech stocks rally
SK Hynix led a broad rally in Asian technology shares on Wednesday, tracking a rebound in U.S. semiconductor names after a sharp sell-off earlier this week. Shares of the South Korean memory chipmaker jumped over 11% in Seoul, building on previous session's gains. Its rebound comes after the stock suffered its biggest-ever one-day decline on Monday, as investors locked in profits amid growing worries over AI spending.