Chinese services activity at 7-month high
Update: 2025-01-06
Description
Chinese services activity hits a seven-month high on the back of strong domestic demand. The strength of the dollar pushes the yuan to a 16-month low. In autos news, Xpeng shares are up following the announcement of a Chinese EV charging network deal with Volkswagen. Tesla CEO Elon Musk intervenes further into UK politics arguing for a snap election and withdrawing his support for Reform leader Nigel Farage. Strong demand for A.I. helps Foxconn to record quarterly revenues and lifts the wider sector ahead of a key speech by Nvidia CEO Jensen Huang later today.
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