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<ul class="summary-list"><li>China's stock markets surged this week, marking the best weekly performance since late 2008.</li><li>The rally was driven by Beijing's aggressive stimulus measures to boost the struggling economy.</li></ul>China's stock markets closed sharply higher Friday, notching their best week in 16 years as investors joined the rally party.The euphoria was thanks to Beijing's big-bang stimulus announcement on Tuesday, which showed the authorities' urgent and concerted commitment to boosting its ailing economy.Since Tuesday, Chinese authorities have flooded the market with announcements of interest rate cuts, bank reserve ratio reductions, liquidity injections, and pledges to boost fiscal spending. The stimulus blitz has jolted investors into buying into the previously downtrodden market."The ante has been upped on China stimulus. Forget just monetary 'bazooka,' Beijing is mobilizing the fiscal arsenal too," wrote Vishnu Varathan, Mizuho's head of macro research for Asia, excluding Japan, in a Friday note.He added that this is "as close as Beijing gets to guns blazing." And markets have reacted by swinging from "despondency to delirium."Mainland China's benchmark <a target="_blank" class="" href="https://markets.businessinsider.com/index/csi-300">CSI 300 index</a> closed 4.5% higher on Friday, its best week since November 2008.Meanwhile, Hong Kong's <a target="_blank" class="" href="https://markets.businessinsider.com/index/hang_seng">Hang Seng Index</a> closed 3.6% higher in its best performance since 2009.<h2 id="873d4d1f-efda-4b09-8baa-171092af49d4">The stock market party overwhelmed tech systems</h2>The stock market party got too hot to handle."Due to surging trading volume, the Shanghai exchange and brokers report some trades have been delayed," Hao Hong, chief economist at Grow Investment Group, <a target="_blank" class="" href="https://x.com/HAOHONG_CFA/status/1839498669864923621">posted on X.</a>"The trading system is simply overwhelmed. There is a huge stampede of stock bulls," added Hong.The <a target="_blank" class="" href="https://www.sse.com.cn/disclosure/announcement/general/c/c_20240927_10762480.shtml">Shanghai Stock Exchange</a> said in an announcement that it was investigating the delays.The market euphoria — now into its fourth day — came despite reservations about China's aggressive stimulus that it rolled out on Tuesday — which some analysts suggested <a target="_blank" class="" href="https://www.businessinsider.com/china-economy-stock-market-bazooka-liquidity-stimulus-sparks-panic-speculation-2024-9">panic in Beijing</a> over the state of the world's second-largest economy.China's economy has struggled to sustain its growth momentum since the pandemic ended. It is battling multiple challenges, including an epic property crisis, high youth unemployment, and deflation.While Chinese authorities have introduced support measures earlier, its stock markets couldn't sustain gains convincingly following a massive <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/china-stock-market-meltdown-brutal-year-explainer-whats-happening-2024-1">meltdown</a> at the beginning of the year — a stark contrast to the hot money flowing elsewhere like the <a target="_blank" class="" href="https://www.businessinsider.com/stock-market-outlook-rally-sp500-recession-china-economy-interest-rates-2024-5">US, Japan, and India.</a>"Investors we spoke to generally have low conviction in the sustainability of the rally," acknowledged Bank of America analysts in a Friday note. However, the bank is more optimistic."Chinese financial regulators rarely encourage banks/financial institutions to increase leverage for the stock market but are doing so this time," the Bank of America analysts wrote, referring to Beijing's announcements of swap and re-lending facilities for stock buybacks.Furthermore, the US Federal Reserve has started cutting interest rates, which has historically benefited Chinese markets, they added.So even if Beijing's stimulus isn't enough for China's economy, a liquidity or leverage-driven market rally could still be "very powerful," they wrote.There's historical precedence, the Bank of America analysts added.The CSI 300 index more than doubled from the fourth quarter of 2014 to the first half of 2015 after Beijing used <a target="_blank" class="" href="https://www.businessinsider.com/china-mini-stimulus-2014-4">government stimulus</a> to arrest a slowdown. This preceded economic recovery that did not happen until the second half of 2016.<h2 id="a014ea6a-41e1-4a13-af63-bbc31fd09242">Top-down direction matters a lot in China</h2>Despite reservations about whether China's stimulus is enough — and if the current market rally is sustainable — it does look like Beijing is ready to do whatever it takes to revive its economy and markets.On Tuesday, <a target="_blank" class="" href="https://www.gov.cn/lianbo/fabu/202409/content_6976186.htm">People's Bank of China governor Pan Gongsheng</a> said at his stimulus announcement that authorities stand ready to inject more liquidity into the system if the support measures for swap and re-lending for share buybacks — collectively at $800 billion yuan, or $114 billion, prove successful."Indeed, while this isn't QE, moral suasion in China has somewhat more force than elsewhere. " wrote Global Data.TS Lombard economists Freya Beamish and Rory Green in a note on Thursday, referring to quantitative easing.After all, "Chinese companies live and die based on whether they are singled out as policy favorites, CEOs sometimes literally," they added.

China's stock markets are partying like it's 2008, overwhelming systems

<keyword id="22661695" type="General" weightage="20" keywordseo="Regulatory-moves" source="Orion">Regulatory moves</keyword> discouraging <keyword id="19972907" type="General" weightage="20" keywordseo="retail-investors" source="keywords">retail investors</keyword>' <keyword id="22661696" type="General" weightage="20" keywordseo="derivative-market-bets" source="Orion">derivative market bets</keyword> may help the <keyword id="59197" type="General" weightage="20" keywordseo="banking-system" source="Orion">banking system</keyword> garner the much-needed <keyword id="6496248" type="General" weightage="20" keywordseo="deposits" source="Orion">deposits</keyword>, <keyword id="46004" type="General" weightage="20" keywordseo="SBI-Chairman" source="Orion">SBI Chairman</keyword> <keyword id="1937145" type="General" weightage="20" keywordseo="Dinesh-Kumar-Khara" source="Orion">Dinesh Kumar Khara</keyword> has said. Khara said the budget announcements like the tweaks on the short-term and long-term capital gains will not lead to much gains from a deposit accretion perspective. "<keyword id="20031465" type="General" weightage="100" keywordseo="FO" source="keywords">F&amp;O</keyword> (future and options) kind of things are being discouraged for the retail (investor) by the regulator. Those who are resorting to such kind of an instrument, they might come back to the banking system," Khara told PTI over the weekend. It can be noted that concerns over losses incurred by 90 per cent of investors in the derivative trades have led to fears of household savings being blown in speculation rather than being deployed for productive purposes among policymakers. As per <keyword id="20033427" type="General" weightage="20" keywordseo="capital-markets" source="keywords">capital markets</keyword> regulator Sebi, retail investors lost Rs 52,000 crore in such activity in FY24 alone which necessitates a clampdown. Sebi has come up with a seven-point plan to reduce such trades, while some moves in the Union Budget are also targeted to reduce such activities. For the last three years, the deposit growth is unable to keep pace with credit expansion, and Khara said the money is going into alternative avenues like capital markets. He, however, stressed that the bank account is the primary avenue for parking the savings and continue to attract interest, and reminded that there was a phase of deposit growth trailing credit growth in 2011 as well witnessed by the banking system. At present, concerns are being raised about the wedge between the deposit and credit growth leading banks to go slower on granting loans, which can be be detrimental for the overall economic growth. <keyword id="19898108" type="General" weightage="20" keywordseo="SBI" source="keywords" meta.keywordsubtype="org" meta.entityname="SBI" meta.hostid="153" meta.entityid="SBI">SBI</keyword>, the country's largest lender which commands over a fifth of market share, is targeting a credit growth of 15 per cent in FY25 and a deposit growth of 8 per cent, Khara said. Stating that the bank will try to get the deposit growth at 10 per cent, he made it clear that the credit growth target can be achieved even with a slower pace of deposit growth of 8 per cent due to its liquidity position. The bank chose to deploy excess deposits in the past into its investment book and is currently unwinding the same as it caters to the credit demand, Khara said. He said the bank's liquidity coverage ratio stands at 128 per cent and it has decided to keep it over 110 per cent.

Discouraging retail play in F&O may help banks garner deposits: SBI Chairman

<ul class="summary-list"><li>Toyota and BMW both reported plunging profits on Wednesday.</li><li>The Japanese and German automakers have faced falling sales in China.</li></ul>China's EV giants are rising, putting foreign automakers under pressure in the world's largest car market.Toyota and BMW reported a drop in quarterly profits on Wednesday, with sales in China slumping for both companies as they face growing competition <a target="_blank" class="" href="https://www.businessinsider.com/why-byd-is-beating-tesla-ev-rivals-china-2024-11">from local automakers like BYD</a>.Toyota's profit for the quarter ending in September was 573.7 billion yen ($3.7 billion), down from nearly 1.28 trillion yen ($8.3 billion) over the same period last year.The company is grappling with a slowdown in sales in China and its home market, Japan.According to Toyota data released in October, sales in Japan plunged by nearly 17% in the first nine months of the year.In China, meanwhile, Toyota is facing fierce competition from local EV giants like BYD. Thanks to their affordable electric vehicle range, BYD has <a target="_blank" href="https://www.businessinsider.com/germany-auto-giants-volkswagen-bmw-mercedes-struggle-sales-china-evs-2024-10">rapidly taken market share from foreign firms</a>.Sales in China were down just over 10% in the first nine months of the year, with Toyota attributing the drop to "severe market conditions" such as "intensifying price competition."Luxury European carmaker BMW, meanwhile, has also found itself facing weakness in China and a high-profile recall.The German auto group said profit before tax dropped nearly 80% in the third quarter from the previous year as it reported earnings on Wednesday.BMW previously cut its financial outlook after recalling more than 1.5 million vehicles due to a braking system issue. The automaker said deliveries fell 30% in China in the third quarter.Like its German rivals Mercedes and Audi, BMW has been hit by stuttering demand for luxury vehicles in China — and it is also facing <a target="_blank" class="" href="https://www.businessinsider.com/luxury-european-carmakers-china-sales-competition-electric-vehicles-bmw-mercedes-2024-10">pressure from local rivals</a>.BYD and smartphone maker Xiaomi have made efforts to expand into the premium market. BYD launched the $150,000 Yangwang U8 SUV last year, and Xiaomi recently unveiled a <a target="_blank" class="" href="https://www.businessinsider.com/chinese-ev-xiaomi-su7-driven-by-fords-ceo-faster-model-2024-10">high-performance version of its SU7 luxury sedan</a>.Toyota and BMW did not respond to a request for comment, sent outside normal working hours.

Toyota and BMW are the latest casualties in China's evolving EV market 

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Hello there! Prime Day is officially here, and we've got a <a target="_blank" href="https://www.businessinsider.com/guides/deals/best-prime-day-deals-big-deal-days-2024-10">rundown on all the deals worth checking out</a>.In today's big story, another hurricane <a target="_blank" href="https://www.businessinsider.com/hurricane-milton-category-five-threatens-florida-fema-funding-2024-10">is set to hit Florida this week</a>, threatening a real-estate market already on edge.What's on deck:<ul><li>Markets: China's <a target="_blank" rel="noopener" href="https://www.businessinsider.com/china-stock-markets-csi300-golden-week-reopening-bazooka-stimulus-outlook-2024-10">stock rally fizzles</a> as lack of fresh fiscal stimulus disappoints investors.</li><li>Tech: <a target="_blank" href="https://www.businessinsider.com/elon-musk-robotaxi-day-tesla-robotics-ai-2024-10">Elon Musk's robotaxi pitch</a> this week could decide Tesla's future.</li><li>Business: <a target="_blank" rel="noopener" href="https://www.businessinsider.com/meet-jeff-smith-starboard-value-hedge-fund-investor-pfizer-2024-10">Meet Jeff Smith</a>, the hedge-fund investor taking on Pfizer.</li></ul>But first, when it rains, it pours.If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today">sign up here.</a><h3 id="7fa5f018-5b05-4a37-a8dc-d3f89138bcb3">The big story</h3><h2 id="5fd547b9-ec52-41fc-8e08-4f4b27dd8097">Hurricane (part 2)</h2><div type="image" title="Hurricane Helene" height="1334" width="2000" msid="114050793" hostid="261" sizebytes="123164"></div>Another hurricane is expected to hit Florida as the state continues recovering from Hurricane Helene.Hurricane Milton, a Category 4 storm (it weakened from a Category 5, but remains "extremely dangerous"), is on track <a target="_blank" href="https://www.businessinsider.com/hurricane-milton-category-five-threatens-florida-fema-funding-2024-10">to make landfall near Tampa Bay by Wednesday</a>. It's the latest hurdle for the state's volatile real-estate market.Milton's peak wind speeds hit 160 mph on Monday. Heavy rain is expected before the storm arrives, and flooding is anticipated throughout the region. Florida Gov. Ron DeSantis has issued a state of emergency for 51 counties, and mandatory evacuations have begun in some areas. The mayor of Tampa, Jane Castor, has also issued a stark warning that <a target="_blank" rel="noopener" href="https://www.businessinsider.com/hurricane-milton-tampa-mayor-castor-evacuation-orders-die-warning-helene-2024-10">anyone who remains in the city as Milton approaches will "die."</a>It's never a good time for a hurricane to hit, but preparing for a powerful storm while you recover from another makes the situation even more challenging.Helene caused over 220 deaths and as much as $34 billion in damage, according to an estimate from Moody's Analytics. Meanwhile, federal agencies meant to provide emergency assistance, like FEMA and the Small Business Administration, face their own cash crises.<div type="image" title="Hurricane Helene" height="1334" width="2000" msid="114050795" hostid="261" sizebytes="707320"></div>Back-to-back hurricanes represent the latest problem for a real-estate market facing buyer's remorse.The threat and cost that hurricanes pose mean Florida homeowners have some reevaluating to do <a target="_blank" href="https://www.businessinsider.com/florida-real-estate-worth-it-home-prices-insurance-hurricane-helene-2024-10">if they want to remain in the state</a>, write Business Insider's Jordan Pandy, Dan Latu, and Madeline Berg.One homeowner told BI she pays $7,000 a year in flood and hazard insurance for her 1,400-square-foot bungalow just south of Tampa. (The policies paid off, her home was deemed uninhabitable after Helene, and she still wants to live there after it's repaired.)But those high costs, coupled with the annual fear of potentially losing your home every fall, have other residents throwing in the towel. Even a few insurers have <a target="_blank" href="https://www.businessinsider.com/florida-condo-owners-prices-drop-insurance-hoa-taxes-increase-2023-3">called it quits on the state</a>, while others could increase their prices by over 300% in the coming years.It's representative of the extremes the Sunshine State's real-estate market has faced in recent years. One of the pandemic's hottest markets, some people are now souring on Florida over its <a target="_blank" href="https://www.businessinsider.com/florida-housing-market-sales-weather-climate-change-retirement-pandemic-costs-2024-9">climate, costs, and overcrowding</a>. (It's not alone in its post-pandemic comedown, as <a target="_blank" href="https://www.businessinsider.com/texas-housing-market-home-prices-falling-austin-dallas-moving-trends-2024-10">Texas is facing a similar fate</a>.)But as much as people want to get out of the state, there will always be those looking to get in. More than 8,000 miles of coastline will do that.One Florida resident whose home sustained almost three feet of water damage from Helene cut their listing price by 40%. Within hours, their real-estate agent received 25 calls from investors interested in the property.<h3 id="77f31a4c-8462-4e3d-a71f-838cb79493fb">News brief</h3><h2 id="1fcd294b-3f53-425f-9f20-4093e8623b59">Top headlines</h2><ul><li>Harris hits '60 Minutes' without Trump. Political scientists weigh in on<a target="_blank" href="https://www.businessinsider.com/kamala-harris-sixty-minutes-interview-donald-trump-why-explained-2024-10"> whether the interview matters</a>.</li><li>Google <a target="_blank" rel="noopener" href="https://www.businessinsider.com/google-app-store-android-third-party-epic-games-judge-2024-10">must allow third-party app stores on Android</a>, Epic Games judge rules.</li><li>The job market is in the 'Twilight Zone,' <a target="_blank" href="https://www.businessinsider.com/job-market-outlook-claudia-sahm-layoffs-hiring-economy-twilight-zone-2024-10">top economist Claudia Sahm says</a>.</li><li>The Russian arms dealer who was exchanged for Brittney Griner is <a target="_blank" href="https://www.businessinsider.com/russian-arms-dealer-viktor-bout-sell-weapons-to-houthis-wsj-2024-10">trying to sell weapons to the Houthis: report</a>.</li><li>This $9 billion hedge fund just joined the raid on big-bank commodity-index traders <a target="_blank" href="https://www.businessinsider.com/alphadyne-hires-jpmorgan-commodity-index-head-byuen-2024-10">with a senior JPMorgan hire</a>.</li></ul><h2 id="8120060b-ae66-48dc-b149-f0489a30ffa2">3 things in markets</h2><div type="image" title="Xi Jinping" height="1500" width="2000" msid="114050791" hostid="261" sizebytes="856940"></div><ol><li>Jittery investors are keeping a lid on China's stock market rally. Stocks surged on Tuesday thanks to pent-up demand from a weeklong trading break — but lost steam after Beijing <a target="_blank" rel="noopener" href="https://www.businessinsider.com/china-stock-markets-csi300-golden-week-reopening-bazooka-stimulus-outlook-2024-10">failed to announce more stimulus measures</a>.</li><li>What recession? Goldman Sachs cut the <a target="_blank" href="https://www.businessinsider.com/recession-outlook-economy-goldman-unemployment-jobs-report-nonfarm-payrolls-rates-2024-10">probability of a recession in the next year to 15%</a>, largely thanks to a strong jobs report. But the jobs report might have lowered the chances of something else: <a target="_blank" href="https://www.businessinsider.com/interest-rate-cuts-fed-outlook-recession-economy-stocks-ed-yardeni-2024-10">more rate cuts this year</a>.</li><li>Greenlight's dispute with its alleged former head of macro keeps getting messier. James Fishback is asking to be <a target="_blank" href="https://www.businessinsider.com/greenlight-former-macro-analyst-sues-david-einhorn-2024-10">awarded at least $5 million from Greenlight's David Einhorn</a>, claiming age discrimination. According to the filing, Einhorn dismissed Fishback's compensation concerns, saying he was being paid "a lot of money for a kid."</li></ol><h2 id="f4b54806-7f81-450c-ba32-92560d4fae9b">3 things in tech</h2><div type="image" title="Elon Musk." height="2400" width="3600" msid="114050797" hostid="261" sizebytes="493076"></div><ol><li>Elon Musk's next big pitch. The billionaire will have to convince investors that Tesla is more than just a car company at Thursday's Robotaxi Day, when he'll share updates on his plan for a driverless fleet. The event is part of Musk's master plan to position Tesla as <a target="_blank" href="https://www.businessinsider.com/elon-musk-robotaxi-day-tesla-robotics-ai-2024-10">tech company first, car company second</a> — and comes as Tesla's revenues have dipped.</li><li>Nvidia CEO Jensen Huang keeps talking about "sovereign AI." Here's what that means. A sovereign cloud guarantees data is stored locally, only used for intended purposes, and not transferred outside national borders. BI spoke with Vultr, a cloud-service provider, about why <a target="_blank" href="https://www.businessinsider.com/sovereign-clouds-explained-data-center-ai-national-security-vultr-2024-10">the phrase is all the rage</a>.</li><li>Reading the tea leaves of the adtech exodus. Adtech execs keep leaving, a sign of a <a target="_blank" href="https://www.businessinsider.com/adtech-leadership-changes-signal-new-phase-amid-investor-pressure-2024-10">new era marked by Big Tech dominance</a>. With Google, Meta, and Amazon looming large, independent adtech companies are forced to compete over scraps. Case in point: Adtech company <a target="_blank" href="https://www.businessinsider.com/adtech-company-pubmatic-layoffs-staff-reductions-2024-10">Pubmatic laid off 1% of its staff</a> last week as it reorients business toward growth areas.</li></ol><h2 id="9260fa45-d397-4b3c-b4f8-4bb193976216">3 things in business</h2><div type="image" title="A woman drinks a tropical cocktail on a beach with an MRI scan in the background." height="900" width="1200" msid="114050788" hostid="261" sizebytes="137494"></div><ol><li>Mojitos and an MRI. Millions of American "medical tourists" save between 40% and 90% on medical services by getting health screenings abroad. <a target="_blank" href="https://www.businessinsider.com/medical-tourists-health-screenings-tests-exams-on-vacation-mexico-turkey-2024-10">That's a bad sign for the US healthcare system</a>.</li><li>The hedge-fund investor taking on Pfizer has a formidable reputation. Pfizer got a wake-up call on Sunday when one of the most feared activist investors on Wall Street revealed a stake in the company. Since 2011, Starboard Value's Jeff Smith has extracted board seats and profits from corporate America — <a target="_blank" rel="noopener" href="https://www.businessinsider.com/meet-jeff-smith-starboard-value-hedge-fund-investor-pfizer-2024-10">by force if necessary</a>.</li><li>How to reach potential voters: Porn and podcasts. They may not agree on much, but both Harris and Trump know that <a target="_blank" href="https://www.businessinsider.com/podcaster-new-politics-power-broker-harris-and-trump-know-it-2024-10">podcasts are the new way to reach voters</a>, with each appearing on ultra-popular shows. Elsewhere on the internet, <a target="_blank" href="https://www.businessinsider.com/porn-website-advertisement-project2025-male-harris-trump-2024-10">porn sites have become a battleground for male voters</a>. A $100,000 campaign is aiming to tie Trump to Project 2025's efforts to ban porn and imprison its producers.</li></ol><h2 id="9f5d80ac-3466-429f-a50a-2ffbb70c65ff">What's happening today</h2><ul><li>Pepsico reports Q3 earnings, Samsung issues Q3 pre-earnings guidance, and Boeing announces Q3 deliveries.</li><li>Donald Trump participates in Univision News town hall with undecided Hispanic voters.</li><li>Kamala Harris has a full day of interviews: She'll appear on "The View" on ABC, "The Howard Stern Show" on SiriusXM, and "Late Night with Stephen Colbert" on CBS.</li></ul>The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York. Jordan Parker Erb, editor, in New York. Hallam Bullock, senior editor, in London. Amanda Yen, fellow, in New York. Milan Sehmbi, fellow, in London.

Florida's real-estate market is on edge amid back-to-back hurricanes

<ul class="summary-list"><li>China's stock investors and watchers are actively discussing the markets before they reopen.</li><li>China released a stimulus blitz a week before the National Day break, sending downtrodden markets on a tear.</li></ul>China's investors are looking forward to some stock market action after the country's weeklong National Day break.On Monday — a day ahead of the mainland's markets reopening — China's Weibo microblog was abuzz with talking about what the markets may hold after a hot run following Beijing's stimulus blitz on September 24.China's domestic stock markets are dominated by retail traders, who number over 200 million and account for about <a target="_blank" class="" href="https://www.troweprice.com/financial-intermediary/sg/en/thinking/articles/2024/q2/chinas-economy-enters-a-new-cycle-unveiling-fresh-opportunities-apac.html">70% of trading volume.</a>China's stimulus measures include interest rate cuts and 800 billion yuan, or about $114 billion, to support the domestic stock markets. The country's top leadership has also <a target="_blank" class="" href="https://www.businessinsider.com/china-stimulus-fix-economy-xi-jinping-stock-market-2024-10">pledged more stimulus</a> is on the way. The world's second-largest economy is facing multiple challenges including a property crisis, deflation, and high youth unemployment. Mainland China's benchmark <a target="_blank" class="" href="https://markets.businessinsider.com/index/csi-300">CSI 300 Index</a> closed 17% higher year-to-date on September 31 before the weeklong break — a stark contrast to its <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/china-stock-market-meltdown-brutal-year-explainer-whats-happening-2024-1">meltdown</a> and lackluster performance for much of the year.Hong Kong's Hang Seng Index closed 1.6% higher on Monday. It's up about 35% year-to-date.Trending topics on Weibo included <a target="_blank" class="" href="https://s.weibo.com/weibo?q=%23%E6%B8%AF%E8%82%A1%23&amp;t=31">#Hong Kong stocks,</a> <a target="_blank" class="" href="https://s.weibo.com/weibo?q=%23%E6%9C%AC%E8%BD%AE%E7%89%9B%E5%B8%82%E8%83%BD%E6%8C%81%E7%BB%AD%E5%A4%9A%E4%B9%85%23&amp;t=31">#How long this bull market can run,</a> and <a target="_blank" class="" href="https://s.weibo.com/weibo?q=%23%E8%8A%82%E5%90%8EA%E8%82%A1%E5%BC%80%E5%B8%82%E5%B0%86%E6%80%8E%E4%B9%88%E8%B5%B0%23&amp;t=31">#How A-shares will perform after the holiday.</a> A-shares are stocks of Chinese companies listed on the Shanghai and Shenzhen stock exchanges."I hope the rally can hold for a bit longer, so that I can at least get my initial investment back," wrote one <a target="_blank" class="" href="https://weibo.com/1988800805/OAq5ncUko">Weibo user.</a> The CSI 300 index was down 45% from a 2021 peak until the pivotal announcement in late September.There was also a trending hashtag discussing <a target="_blank" class="" href="https://s.weibo.com/weibo?q=%23%E8%82%A1%E6%B0%91%E6%8B%85%E5%BF%A7A%E8%82%A1%E5%BC%80%E7%9B%98%E7%AC%AC%E4%B8%80%E5%A4%A9%E4%B9%B0%E4%B8%8D%E5%88%B0%23&amp;t=31">those who fear</a> they will not be able to buy A-shares on Tuesday. Before the weeklong break, some brokers and traders reported <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/china-stock-market-rally-economy-stimulus-liqudity-overwhelm-system-2024-9?">delays on the Shanghai Stock Exchange</a> as systems were so overwhelmed by enthusiastic investors and market watchers.Despite the market rally, skeptics about China's economic outlook and markets abound — and Weibo, too, isn't short of naysayers."I don't feel reassured now that the topic is trending," said a Weibo user in a <a target="_blank" class="" href="https://s.weibo.com/weibo?q=%23%E6%9C%AC%E8%BD%AE%E7%89%9B%E5%B8%82%E8%83%BD%E6%8C%81%E7%BB%AD%E5%A4%9A%E4%B9%85%23&amp;t=31">thread</a> discussing the likely duration of the bull market that garnered nearly 700 likes in half an hour."An expert said this is not a bull market, but bullshit," wrote a second user."What is the current economic situation in China? Are you all blind? Can't you see it?" asked a third user commenting on <a target="_blank" class="" href="https://weibo.com/1646051850/OAqbWwUIg">another post</a> discussing the market rally.However, given the extent to which China's stocks have sold down before Beijing's stimulus announcement, there may be more upside to come.Goldman Sachs, for one, has upgraded China's stocks to overweight and is forecasting another 15% to 20% upside to Chinese shares.Beijing's "coordinated forceful policy announcements" amid "an oversold, undervalued, and under-positioned market backdrop" are key factors in their reasoning, wrote the bank's analysts wrote in a note published on Saturday.There could also be earnings growth potential for companies should the economy respond positively to Beijing's coordinated stimulus, they wrote."Together, these announcements constitute a more substantial quantum of policy stimulus that contrasts with the sporadic and modest easing measures over the past few years," they wrote, even as they warned that China's macroeconomic challenges remain serious.

China's retail investors are eyeing the stock market reopening after a weeklong break

<ul><li><keyword id="20243924" type="General" weightage="20" keywordseo="MapMyIndia" source="keywords" meta.keywordsubtype="org" meta.entityname="MapMyIndia" meta.hostid="261" meta.entityid="MapMyIndia">MapMyIndia</keyword> has accused <keyword id="19897349" type="General" weightage="20" keywordseo="Ola-Electric" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola Electric" meta.hostid="261" meta.entityid="Ola Electric">Ola Electric</keyword> of stealing its map data for <keyword id="20251740" type="General" weightage="20" keywordseo="Ola-Maps" source="keywords">Ola Maps</keyword>.</li><li>The company has claimed that Ola Electric has copied its data for “unjust commercial gains”.</li><li>The company has reportedly sent a legal notice to Ola Electric.</li></ul> Ola Electric is all set to raise funds from the primary market through an<a href="https://www.businessinsider.in/stock-market/news/upcoming-ipos-this-week-ola-electric-akums-drugs-and-more/slidelist/112097714.cms"> initial public offering</a> (IPO) which is set to open on August 2. Ahead of the IPO, <keyword id="21641099" type="General" weightage="20" keywordseo="CE-Info-Systems" source="keywords" meta.keywordsubtype="org" meta.entityname="CE Info Systems" meta.hostid="261" meta.entityid="CE Info Systems">CE Info Systems</keyword>, the parent company of homegrown MapMyIndia has accused the Bhavish Aggarwal-led company of stealing map data. According to a<a href="https://www.forbesindia.com/article/news/mapmyindia-alleges-ola-copied-data-for-maps-slaps-legal-notice/93765/1"> report</a> by Forbes India, MapMyIndia in a legal notice has accused Ola Electric of stealing its map data after the company launched its own mapping service, Ola Maps. MapMyIndia has claimed that Ola Electric has breached its license agreement. The electric two-wheeler maker had partnered with MapMyIndia to offer navigational services on its electric scooters. <h2>Data copied</h2>MapMyIndia has claimed that Ola Electric has duplicated the API (application programming interface) and SDKs (software development kits) from the company’s proprietary sources to build Ola Maps. <div type="Article" hostid="261" msid="112039063" title="Pixel 9 series design and specs revealed ahead of launch next month" mstype="2" mssubtype="0"></div> “It is firmly stated that our client’s exclusive data has been copied/derived by you to further your illegal motive and for your unjust commercial gains,” MapMyIndia reportedly said in its notice. Further, the company dismissed Ola Electric’s claim of developing the map data for Ola Maps from Open Map. “Your assertion that you have developed API and map data/Ola Maps solely through open map is factually incorrect and not tenable,” the company added. The company has said that the agreement signed between the two companies prohibits co-mingling and reverse engineering under the Intellectual Property laws. “By indulging in such unscrupulous and illegal activities, you have acted in blatant defiance of the terms and conditions of the agreement and have further infringed the copyright vested exclusively in our client pertaining to the source code,” the notice reads. Ola Electric in a statement to Business Insider India has denied the allegations. “Ola Electric wishes to address the recent claims made by CE Info Systems Limited (“CE Info”) in relation to the alleged issues with Ola Maps vis-à-vis MapMyIndia and reported in news media. We would like to state unequivocally that these allegations are false, malicious and misleading. Ola Electric stands by the integrity of its business practices. We will suitably respond to the notice shortly," an Ola Electric spokesperson said in a statement to Business Insider India. The Delhi-based Geotech startup has said that it will initiate appropriate civil and criminal legal action against Ola Electric. Earlier this month, the share price of MapMyIndia jumped by up to 10% during the Budget 2024-25 as Finance Minister Nirmala Sitharaman announced that land records in urban areas will be digitised using GIS mapping, highlighting the rising importance of such data. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/upcoming-ipos-this-week-ola-electric-akums-drugs-and-more/slidelist/112097714.cms">Upcoming IPOs this week – Ola Electric, Akums Drugs and more</a> <a href="https://www.businessinsider.in/business/auto/news/government-extends-ev-subsidy-scheme-till-september-30-increases-outlay/articleshow/112062360.cms">Government extends EV subsidy scheme till September 30, increases outlay</a> <a href="https://www.businessinsider.in/tech/mobile/news/apple-to-manufacture-iphone-16-pro-models-in-india-soon-after-launch/articleshow/112045172.cms">Apple to manufacture iPhone 16 Pro models in India soon after launch</a>

Ola Electric IPO – MapMyIndia accuses company of stealing map data days before IPO opens

Investing in the stock market is the go-to answer for many who want great returns on their hard-earned money. However, not everyone is a stock market expert and people tend to look for guidance at times. And while there are many good financial advisors out there, some are fraudsters looking for a way to rob people. Thus, in times when online scams in India are on the rise, one should be cautious of who they trust with their money. Simply believing strangers on the internet could mean huge losses at times and this is exactly what happened with a Noida-based woman who wanted to make some extra money by investing in the share market via an app. <h2>Woman loses over Rs 69 lakh in <keyword id="7292336" type="General" weightage="20" keywordseo="stock-market-scam" source="Orion">stock market scam</keyword></h2>According to a report in HT, a 32-year-old woman from <keyword id="20142852" type="General" weightage="20" keywordseo="greater-noida-west" source="keywords">Greater Noida West</keyword> was defrauded of more than Rs 69 lakh by scammers posing as stock market investment advisors. This incident, which unfolded over the course of several weeks, underscores the need for heightened vigilance and cybersecurity awareness in an increasingly interconnected society. Stuti, the victim, resides with her family in Amaatra Homes, Sector 10. Her ordeal began in June when she was added to an unknown WhatsApp group that offered training on earning profits in the stock market. The group, which appeared to be legitimate, provided her with initial training sessions that built trust and credibility. The scammers, masquerading as financial experts, promised Stuti a staggering 300 percent return on investments made through a specially designed mobile application. <h2>Scammers promised high returns</h2>Encouraged by the initial promise of high returns, Stuti downloaded the fraudulent application and made her first investment of Rs 1 lakh. To her astonishment, the app showed a profit of Rs 50,000 the very next day, further enticing her to invest more. The scammers then added her and her husband to another private WhatsApp group, where they were presented with a new profit plan requiring an investment of Rs 30 lakh. Trusting the system, they invested Rs 20 lakh. On July 16, the fraudsters introduced a new scheme involving an Initial Public Offering (IPO) and the allotment of one lakh shares. They asked the couple to invest an additional Rs 1.19 crore, promising a profit of Rs 50 lakh from their recent investments. The couple, now heavily invested both financially and emotionally, were then informed that they needed to pay an additional Rs 48 lakh to secure their profits. When Stuti and her husband expressed their inability to invest further and requested to withdraw their profits, the scammers cited convoluted terms and conditions to refuse their request. Desperate to recoup their investments, the couple broke their fixed deposits, liquidated mutual funds, and borrowed money from friends and family, eventually sending a total of Rs 69.53 lakh to the fraudsters through multiple transactions. It wasn't until the couple was asked to pay an additional Rs 21 lakh in taxes and other charges that they realised they had been duped. The scammers, who had promised them a profit of Rs 4 crore, vanished, leaving the couple in financial ruin. On August 2, an FIR was registered under sections 318 (cheating and dishonesty) and 319 (cheating by personation) of the BNS, along with relevant sections of the IT Act, at the cybercrime police station. The police have launched an investigation.

Noida woman invests in stock market via an app, loses over Rs 69 lakh as it turns out to be a scam

<ul class="summary-list"><li>A startup planemaker announced a 200-passenger "blended wing body" plane to rival Airbus and Boeing.</li><li>Natilus' design aims to improve efficiency by up to 50% and offer cabin spaces unlike any today.</li></ul>Aircraft manufacturer <a target="_blank" class="" href="https://natilus.co/">Natilus</a> wants to build a new type of airliner to rival Airbus and Boeing as the industry demands more efficient planes.The California-based startup has announced plans for a 200-passenger "blended wing body" aircraft called Horizon. It could hold about the same number of people as <a target="_blank" href="https://www.businessinsider.com/boeing-737-max-simulator-what-its-like-to-be-pilot-2024-10">a Boeing 737 Max</a> but would look very different — and improve efficiency by up to 50%.Like the company's in-development "Kona" cargo plane, Horizon <a target="_blank" class="" href="https://www.businessinsider.com/us-air-force-blended-wing-body-design-tankers-cargo-planes-2023-8">ventures away from the traditional "tube-and-wing"</a> design that has existed since the dawn of commercial aviation.CEO Aleksey Matyushev told Business Insider that the futuristic concept, which combines the wind and fuselage into one, should be ready for a commercial launch expected in the early 2030s.He hopes the unique offering — with <a target="_blank" class="" href="https://www.businessinsider.com/airline-cabin-designs-revolutionize-air-travel-crystal-cabin-2023-5">an even more unique cabin</a> — could puncture the industry's duopoly of Airbus and Boeing, which have long dominated the commercial aviation market. Both companies are also battling supply chain issues, and <a target="_blank" class="" href="https://www.businessinsider.com/timeline-of-boeing-problems-alaska-airlines-strike-layoffs-starliner-max-2024-10">Boeing continues to struggle with quality and production problems.</a>"We decided to move into the narrowbody market because it's the biggest opportunity over the next 20 years," he said. "40,000 new narrowbody airplanes need to be built in that time, but Airbus and Boeing's capacity outlook shows they can only produce 15,000 each, so we want to fill that capacity."Airlines have largely moved to narrowbody jets, like the Boeing 737 Max and the Airbus A320neo. These next-generation airplanes have an efficient passenger-to-fuel ratio, are cheaper to operate than bigger models, and can meet versatile route needs from short- and medium-haul to longer treks to Europe and Hawaii from the US.<h2 id="8f498824-b5d9-4c23-a3fe-3b3c67e5038a">A more effective way to reduce aerospace emissions</h2>Many <a target="_blank" class="" href="https://www.businessinsider.com/united-operates-passenger-flight-with-100-sustainable-aviation-fuel-2021-12">airlines are going green</a> in part by introducing the use of sustainable aviation fuels, or SAF.While the strategy does lower the airlines' overall carbon footprint, experts have <a target="_blank" class="" href="https://www.businessinsider.com/virgin-atlantic-saf-flight-sustainable-aviation-fuel-critics-2023-12">previously told BI that biofuel is expensive</a> and won't be available in the quantities needed to hit the industry's 2050 net-zero goal.Matyushev said the more fuel-friendly BWB design won't solely rely on SAF but instead benefit from less drag and better lift."In a traditional tube-and-wing configuration, the wing provides 90% of the lift and the fuselage 10%," he explained. "On a BWB, it's about 60% on the wing and 40% on the fuselage."Because it's basically one big wing, the plane's design creates a more "cavernous environment" that improves aerodynamic fuel efficiency by 30% compared to traditional planes like the Boeing 737 and the Airbus A320, Matyushev said.<div type="image" title="Rendering of a Natilus blended wing body plane at an airport gate." height="1233" width="1644" msid="114592770" hostid="261" sizebytes="81552"></div>He further explained that, because it can also carry more people and weighs less, Horizon could be up to 50% more fuel efficient per passenger.And, despite its futuristic shape, Matyushev said Horizon will not require any costly airport infrastructure changes.Matyushev said Natilus is in talks with two engine manufacturers for Horizon's smaller powerplant. He said making one in-house is too risky and wants to rely on proven technology, but both options will be SAF-compatible.<h2 id="9600c940-d1dd-4c63-91ad-e2331a1de164">Fewer windows but more space</h2>Convincing people to sit so far from a window could be tricky. <a target="_blank" class="" href="https://www.businessinsider.com/emirates-new-first-class-suites-feature-virtual-windows-nasa-seats-tour-2017-12">Emirates, for example, has created digital windows</a> in the center section of some of its airplanes. And people commonly put their window shades down anyway on red-eye and early-morning flights."If I take away the windows but give you more legroom and spaces like a kids' playroom and a lounge, I think people will normalize to that," Matyushev said. Horizon is expected to offer 40% more volume than a traditional narrowbody.Some <a target="_blank" class="" href="https://www.sjsu.edu/ae/docs/project-thesis/Jeffrey.Trac-Pho-F22.pdf">studies</a> have raised concerns about evacuations on BWB planes because they have fewer exit locations, and the wider cabin means passengers have to move further to get to an exit — something that could be a problem in <a target="_blank" class="" href="https://www.businessinsider.com/japan-airlines-passengers-survived-because-abandoned-baggage-burning-plane-tokyo-2024-1">emergencies where every second counts.</a><div type="image" title="A Natilus blended wing plane taking off from an airport runway." height="1080" width="1440" msid="114592778" hostid="261" sizebytes="53546"></div>Matyushev said studies analyzing evacuations concerned BWB airplanes twice the capacity of Horizon and that the plane is set to have two cabin levels — think the Boeing 747 or <a target="_blank" class="" href="https://www.businessinsider.com/here-are-the-8-coolest-things-about-airbus-a380-from-singapore-airlines-2023-2">the Airbus A380</a> — which would provide more exit rows.<h2 id="728dbd2b-efb4-4f6e-9f80-0bb2cc175492">Airlines are already buying in</h2><a target="_blank" class="" href="https://www.businessinsider.com/united-airlines-ceo-criticizes-airbus-boeing-duopoly-calls-for-change-2024-6">Airlines are frustrated with the duopoly between Airbus and Boeing</a> and are looking for versatile new planes that are more fuel efficient and fit market needs.Matyushev said Natilus is in talks with several airlines and has had pilots come to test its BWB performance, but declined to share any specific carriers.<div type="image" title="Natilus' Kona and Horizon planes flying next to each other." height="1080" width="1440" msid="114592773" hostid="261" sizebytes="151184"></div>Although Horizon has a very different shape than traditional planes, it's controlled like normal, which could make airline and pilot buy-in easier, Matyushev said. Horizon will have a modern cockpit similar to that of Airbus — meaning no yoke and advanced avionics like auto-land."Horizon has vertical tails, for example, so it doesn't need fancy control systems to keep that plane stable," he said. "Our secret sauce is mirroring what most airlines and pilots are already using today."The <a target="_blank" class="" href="https://www.businessinsider.com/us-air-force-photos-b-21-raider-newest-stealth-bomber-2024-5">military already uses jets</a> with a similar wing shape. Still, <a target="_blank" class="" href="https://www.businessinsider.com/boeing-777x-why-so-important-delays-future-airlines-2024-7">building a brand-new jet type won't be cheap or easy</a>, especially getting regulatory approval. The time-tested tube-and-wing design is less risky and easier to produce and certify. Natilus will also need to prove that its lighter BWB design can handle the expected load bearings and that the cockpit offers safe and proven systems for pilots.Natilus joins a <a target="_blank" class="" href="https://www.businessinsider.com/airbus-unveils-futuristic-new-airplane-prototype-with-one-giant-wing-2020-2">growing list of BWB plane</a> developers. Airbus announced its BWB jetliner in 2020, while JetZero unveiled its <a target="_blank" class="" href="https://www.businessinsider.com/new-widebody-plane-blended-wing-body-jetzero-pathfinder-2024-4">"Pathfinder" widebody BWB</a> design in April.

Startup CEO shares his plan for a radical 'blended wing' jet to rival Boeing and Airbus

IPOs of <keyword id="22105289" type="General" weightage="20" keywordseo="Aasan-Loans" source="keywords">Aasan Loans</keyword> (<keyword id="22105288" type="General" weightage="20" keywordseo="Akme-Fintrade" source="keywords">Akme Fintrade</keyword> India) and <keyword id="22105291" type="General" weightage="20" keywordseo="DEE-Piping-Systems" source="keywords" meta.keywordsubtype="org" meta.entityname="DEE Piping Systems" meta.hostid="261" meta.entityid="DEE Piping Systems">DEE Piping Systems</keyword> (DEE Development Engineers Limited) are set to hit the D-street for subscription today, and will close on Friday, 21st June. With a price band of Rs 114-Rs 120, Aasan Loans, which offers loans to rural and semi-urban populations, aims to raise 132 crores via a fresh issue of 1.1 crore shares. With its niche in vehicle and business financing, experts are advising staying away from the <keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword>, given how competitive the Indian NBFC space is. The company also harbours significant NPAs, and has had some compliance issues in the past as well. The other mainboard IPO, <keyword id="22105286" type="General" weightage="100" keywordseo="DEE-Piping" source="keywords">DEE Piping</keyword> Systems, intends to raise Rs 418 crore via combination of fresh issue and offer for sale (OFS). While Rs 325 crores will be raised via fresh issue, Rs 93.01 crores will be raised via OFS. With its price band set between Rs 193-Rs 203, DEE specialises in providing piping solutions to oil, gas, chemicals and power industries. <cmsannotation type="cmsannotation" annotationid="SME IPO dashboard" comment="subhead" text="SME IPO dashboard">SME IPO dashboard</cmsannotation> While these are mainboard IPOs, 3 small and medium enterprises (SME), namely <keyword id="22105292" type="General" weightage="20" keywordseo="Falcon-Technoprojects-India" source="Orion">Falcon Technoprojects India</keyword>, <keyword id="22071172" type="General" weightage="20" keywordseo="Durlax-Top-Surface" source="Orion">Durlax Top Surface</keyword> and <keyword id="22105290" type="General" weightage="20" keywordseo="Gem-Enviro" source="keywords">GEM Enviro</keyword> are also opening for subscription today. The company, which aims to raise Rs 13.69 crore, offers mechanical and plumbing services, which includes installing air conditioners, water supply and lighting systems. Its share price has been set at Rs 92. The other company on the SME dashboard is Durlax Top Surface, which has 2 brands, namely LUXOR and ASPIRON. The company manufactures solid surface materials, which include UV acrylic solid sheets. The company wants to raise Rs 40.80 crore, out of which Rs 28.56 crore will be raised via fresh issue, and the remaining will be accumulated via offer for sale. The stock’s price band is set between Rs 65-68. Gem Enviro, which specialises in plastic waste management and recycling, aims to raise Rs 44.93 crore via this IPO. Stock analyst Dilip Dawda recommends investing in this IPO for medium to long-term gains, given that the company has paid dividend over the past 2 years <cmsannotation type="cmsannotation" annotationid="IPOs closing today" comment="subhead" text="IPOs closing today">IPOs closing today</cmsannotation> IPOs of <keyword id="22105287" type="General" weightage="20" keywordseo="GPES-Solar" source="keywords" meta.keywordsubtype="org" meta.entityname="GPES Solar" meta.hostid="261" meta.entityid="GPES Solar">GPES Solar</keyword>, which opened on 14th June, and United Cotfab, which opened on 13th June, are closing today. GPES Solar, which is in the business of solar inverters and panels, aims to raise Rs 31 crore. Its IPO was oversubscribed around 408.3 times. Retail investors oversubscribed to the share by around 519.57 times. However, Dawda recommends subscription to this IPO only if you are a market veteran and have surplus, long-term funds to park. The IPO of United Cotfab, which manufactures open-end cotton yarn, is also closing today. It was oversubscribed by 48.27 times in the retail investor category. While the company intends to raise Rs 36.29 crore entirely via fresh issue, experts have raised concerns about the company’s profitability and sustainability.

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