China News by Thebittimes.Com

While Russia and China are sending mixed signals about the usage of the US dollar in cross-border transactions, BRICS member India is clear on its stance that it does not support de-dollarization but also emphasizes the need of putting local currencies ahead for trade. India is seen doing a balancing act between the West and the East, as it needs the support from both corners to lift its economy up. This juggling act is what kept BRICS from fully achieving the potential of de-dollarization it once aggressively pursued. On the heels of de-dollarization discussions, Russian Ambassador to India Denis Alipov confirmed in the NDTV Defense Summit on Thursday that BRICS is not “anti-Western” and does not promote the agenda of going against the interests of the West. “It is an alternative to other global platforms and organizations, such as the G20, for example, and other international formats. And no one in BRICS has ever spoken in an anti-Western manner or promoted an anti-...

South Korea’s stock exchange halted trading for 20 minutes yesterday as the country’s KOSPI index fell more than 8% in a single day. Since its June peak, its drawdown now exceeds 40%, worth more than $2 trillion in market capitalization. Followed domestically the same way US investors follow the S&P 500 index, KOSPI’s rout has downranked South Korea’s AI-focused stock market from sixth to 10th among the world’s countries. For scale, the loss tops South Korea’s entire annual economic output of about $1.9 trillion in 2025. It also exceeds the value of every BTC in existence, about $1.6 trillion. Concerningly, KOSPI’s loss exceeds the assets of South Korea’s National Pension Service , the world’s third-largest retirement fund holding about $1.3 trillion worth of savings that have obviously shrunk alongside the stock market. The recent loss tops South Korea’s entire annual economic output of about $1.9 trillion in 2025. KOSPI closed yesterday at 5,554, down ...

General Dynamics’ largest shareholder, a family office that first acquired shares in the massive US defense contractor in 1959, has slashed its stake by nearly $1 billion and was responsible for 9.6% of all General Dynamics stock that traded during the month of September. Those sales have cut its stake in the $89 billion military equipment provider by approximately 10% since August 26. Manager of the Henry Crown family fortune, Longview Asset Management, sold roughly one out of every 10 General Dynamics shares that traded last month: 2,638,137 shares of September’s 27,591,000 in total volume. Longview’s filings with the SEC show the fund dropping its stake from 27,096,788 shares of GD, General Dynamics’ NYSE-listed common stock, as of August 26, to 24,388,917 by October 1. The timing has been brutal. General Dynamics has declined 13% since August 26, making the selling only more conspicuous, especially when broad indices like the S&P 500 have actually ra...

Cardano’s (ADA) recent price surge is running into fresh headwinds from fading trader interest and large-holder exits. Futures open interest for ADA has dropped 9% over the past week, sliding from $1.99 billion to $1.81 billion as traders cut back on leveraged bets, says Ali Charts on X. Whales also appear to be taking profits. “Since September 20, large holders have offloaded roughly 90 million ADA, worth approximately $22.5 million, adding to the recent selling pressure.” This decline in demand aligns with a Tom DeMark Sequential sell signal that appeared on Cardano’s daily chart. “Since then, ADA has fallen 10%, and the correction may not be over yet.” According to the analyst, a parallel channel on the daily chart points to $0.24 as the key mid-range support. “If ADA loses that level, a move toward the channel’s lower boundary near $0.21 becomes likely.” Source: Ali Charts/X If $0.21 holds, it could present the next buying...