China is looking to push back as it waits for Xi. Mitsubishi sets record thanks to big buyout, Warren Buffett’s win

China is trying to confirm the strong return of the previous session, Wednesday 7 February, with uncertain results. At 7.40 am Italian time, Shanghai rose 0.6%, while the Hang Seng lost 0.4%, while the Nikkei was below par.

The 10-year US T-bond saw the yield edge up to 4.10%, while futures on the Nasdaq fell (-0.11%) due to uncertainty in the markets linked to the Fed’s rate cut which is not expected to happen before June.

Beijing, meanwhile, is stepping up measures to support stock markets. tuesday Bloomberg reported that the president Xi Jinping will discuss the challenges of capital markets and regulators. The news came after China’s securities regulator vowed over the weekend to prevent a fall in market rates and crack down on “scary” short selling.

Mitsubishi shares, backed by Buffett, soar to record highs on strong recovery

Shares on Wednesday Mitsubishi rose to a record high after the Japanese group was supported by Warren Buffettthe historic organization that stocks stocks from banks to commodities, has announced a “massive purchase of their own securities.”

The company said on Tuesday that it would buy up to 500 billion yen in shares (3.4 billion dollars), causing the stock to rise 10% a Tokyo.

Calling it “a shocking return that market participants did not expect,” Jefferies analyst Thanh Ha Pham added that the company “has 500 billion yen of excess cash that it can return to shareholders.” A rise in stock prices will be beneficial to Buffettwhich increased its stake in Japan’s five largest trading companies.

China will encourage electric vehicle manufacturers to cooperate with foreign companies

China’s Ministry of Commerce has said it will encourage domestic electric car companies to cooperate with foreign companies when the country is facing the fallout from the trade dispute with the European Union regarding the sector. The ministry said in a policy document Wednesday that it will “guide” electric vehicle manufacturers to “contact and cooperate with their foreign counterparts.”

The document, first published domestically at the end of last year, includes 18 guiding opinions on how to support the “healthy development” of the country’s electric vehicle industry. It follows recent comments by the deputy minister of industry and information technology on curbing China’s huge potential in the electric vehicle sector, which the EU claims is the result of government subsidies.

Pimco: BoJ may cut rates to zero in March

The Bank of Japan may abandon its negative interest rate policy as early as March and make several hikes this year, deepening the bearish outlook for Japanese government bonds, Pimco said.

In a market outlook report, Pimco predicts that the BoJ will raise borrowing costs (currently negative) to 0% in March or April, and then rise to 0.25% by the end of the year. (All rights reserved)