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Another day, another disappointment for China bulls. Anticipation built before officials gathered in Beijing to offer details on the government’s plans to draw a line under the property market’s slump, but what they delivered didn’t quite live up to the hype. The measures, including more funds for unfinished housing projects, fast-tracked credit to developers and apartment renovations, hardly added up to the bazooka investors were hoping for when the central bank rolled out its big-bang package to ignite a furious stock rally a month ago. The benchmark equities gauge fell for a third day. Next up: GDP figures coming out tomorrow and, once more, it’s not looking good.

What You Need to Know Today

TSMC didn’t disappoint, at least. The semiconductor giant delivered some relief to a market still reeling from a wave of negative news. The main chipmaker for Nvidia and Apple easily beat estimates for its quarterly results and raised its target for this year’s revenue growth.

Couche-Tard wants Seven & i and it wants all of it, Chairman and founder Alain Bouchard told Bloomberg in a rare interview in Tokyo. The Canadian company’s leaders are in town to meet with bankers and to try to allay regulatory concerns. But they were rebuffed by the management of the iconic Japanese convenience store operator they have so relentlessly pursued for two decades. “It didn’t work, but it will eventually,” a confident Bouchard said.

Apple and BYD secretly teamed up to build long-range batteries, to be used in the car project that the iPhone maker scrapped this year. The two companies joined forces in 2017 and were working on highly customized technology, based in a large part on the US company’s expertise in advanced battery packs and heat management.

Kamala Harris’ interview on Fox News turned out to be a testy affair, with frequent interruptions from Bret Baier. The vice president sought to deflect criticism over the border crisis, her stance on transgender rights and used the occasion to distance herself from President Joe Biden.

Private credit is booming in India, just like seemingly everything else. An unprecedented flurry of deals from local firms — names like Neo and Edelweiss — is driving the industry toward its first-ever $10 billion year. India-based shops are quickly closing in on global giants active in the market, such as KKR and Oaktree. They are competitive because they can “achieve scale through market depth and diversification locally,” according to Bharat Gupta, a partner at EY. To learn more about the industry, follow our live coverage of Bloomberg’s India Credit Forum from 4pm India time tomorrow.

One of Nomura’s most senior Japanese government bond traders has left his role, according to people familiar with the matter. Takushi Sawada, who worked with a team of more than five traders in Tokyo, stepped down from his position in recent months. As a major player in the almost $8 trillion Japanese government debt market, Nomura has significant clout over what is an exclusive and tightly knit group of domestic bond traders.

India’s newest billionaire is Saurabh Gadgil, who took advantage of the country’s IPO craze when he took his family’s 192-year-old jewelry business public. The 47-year-old has enlisted Bollywood stars to transform the company into a national brand, as part of a bet that India is on the cusp of a boom in high-end spending. “India will see a surge in luxury shopping and jewelry will be at the top,” Gadgil said in an interview.

What You’ll Need to Know Tomorrow

For Your Commute

Cathay Pacific is introducing an airborne art gallery as part of a $13 billion revamp of its fleet and lounges. Hong Kong’s flagship carrier is going for a sense of refined, confident affluence and is betting that its Aria Suite business class seats — six years in the making — will help it compete with high-end rivals like Qatar Airways and Singapore Airlines. The first flight will be from Hong Kong to Beijing tomorrow.

Written by: @Bloomberg