China Dials Back Property Restrictions in Bid to Reverse Economic Slide
For much of the past year, China's economy has been reeling under Xi Jinping's dual campaigns to rein in soaring property prices and to stamp out any traces of Covid-19 within the country's borders.
Now, as he moves to loosen pandemic restrictions, China's leader, Mr. Xi, is signaling a reversal of his real estate crackdown, too, a tacit acknowledgment of the economic pain and public frustration that the two policies have engendered.
Japanese Inflation Shows Signs of Easing, Kuroda Says
NAGOYA, Japan-There are some signs of local inflation easing, Bank of Japan Gov. Haruhiko Kuroda said, a development that helps lower pressure on the bank to tighten its ultraloose monetary policy.
"Recent price increases are due mostly to the rise in import costs and their pass-through to consumer prices. But resource prices have already started falling," Mr. Kuroda said at a news conference.
House Majority Undecided as Democrats Keep Senate Control
WASHINGTON-Control of the House of Representatives remained unsettled Sunday after Democrats won a crucial victory in Nevada to retain their hold on the Senate.
The GOP appeared on track toward winning the barest of House majorities, nonpartisan analysts said, but the final outcome hinged on races, mostly on the West Coast, that remain too close to call. Both parties were girding for results that might not be known for days.
Crypto.com Withdrawals Rise After CEO Admits Transaction Problem
Customers pulled funds from Crypto.com over the weekend after the company's chief executive said the cryptocurrency exchange mishandled a roughly $400 million transaction.
Crypto.com Chief Executive Kris Marszalek said on Twitter that the transfer was sent to the wrong type of account on another exchange. The transfer of a large chunk of ether, a popular cryptocurrency, took place on Oct. 21, but came to light after Twitter users flagged the transfer as unusual, based on publicly available blockchain transaction records.
Investors Question Whether Big Tech's Rebound Can Last
Technology stocks last week staged their biggest comeback since the global financial crisis.
Some investors still aren't sold on the sector.
U.S. Official Says China Is Uncomfortable With Russia's Rhetoric, Activity in Ukraine
NUSA DUA, Indonesia-A senior U.S. official said China is uncomfortable with Russia's rhetoric and invasion of Ukraine, as President Biden and Chinese leader Xi Jinping prepared for a meeting aimed at dialing down tensions between Washington and Beijing.
"I think there is undeniably a discomfort in Beijing about what we've seen in terms of reckless rhetoric and activity on the part of Russia," the U.S. official said in a briefing with reporters on Monday. "I think it is also undeniable that China is probably both surprised and a little bit embarrassed by the conduct of Russian military operations."
President Biden, Xi Jinping to Spell Out Priorities During Bali Meeting
NUSA DUA, Indonesia-When President Biden meets Chinese President Xi Jinping for highly anticipated talks Monday, the two sides will seek to dial down tensions that have run high for months and establish a better understanding of each other's priorities over the coming years, U.S. and Chinese officials said.
Both sides said the meeting is unlikely to yield major policy breakthroughs. But Mr. Biden's advisers said they hope it will help improve communication and set expectations on significant issues between the two powers, including their differences over Taiwan, China's relations with Russia and recent missile tests by North Korea.
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This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
11-14-22 0545ET
