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Liberal Candidate Paul Chiang Steps Down Amid Controversy

Paul Chiang, a Liberal candidate in the Markham-Unionville riding, has announced his resignation following backlash over comments he made regarding a Conservative opponent, Joe Tay. Chiang suggested that individuals could claim a bounty offered by Hong Kong authorities by turning Tay over to the Chinese consulate. This statement, made during a press conference in January, sparked widespread criticism and raised concerns about foreign interference in Canadian politics. The Royal Canadian Mounted Police (RCMP) has since launched an investigation into the matter, citing potential threats to Canada's democratic processes. Chiang issued an apology, calling his remarks a "deplorable lapse in judgment," but the controversy persisted. Conservative leader Pierre Poilievre condemned the comments, stating that they endangered Tay's safety and sent a chilling message to the community. Chiang's resignation comes as Liberal leader Mark Carney faces mounting pressure to address ...
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Asian shares rise after Wall Street gains; Tokyo slips

Asian markets were mostly higher on Thursday, following modest gains on Wall Street in a holiday-shortened week. Tokyo was an exception, as investors weighed the prospects of a policy shift by the Bank of Japan.

The Nikkei 225 index fell 0.4% to 33,539.62, while other major regional benchmarks rose more than 1%. Hong Kong’s Hang Seng index surged 2.7%, led by technology and property shares. The Shanghai Composite index gained 1.4% and South Korea’s Kospi added 1.6%.

U.S. futures edged higher and oil prices were mixed. The S&P 500 rose 0.1% to 4,781.58 on Wednesday, up 24% for the year. The Dow Jones Industrial Average rose 0.3%, to close at 37,656.52. The Nasdaq composite rose 0.2% to 15,099.18, outpacing other major indexes with a gain of 44% this year.

Trading was subdued with two trading days left in the year. The S&P 500 is coming of its eight straight winning week and is hovering just below its all-time high set in January of 2022.

Investors are looking ahead to the next year, when the Federal Reserve is expected to start raising interest rates to combat inflation. The Fed has signaled that it will hike rates three times in 2024, but some analysts think it may need to move faster and more aggressively.

Meanwhile, the Bank of Japan is facing pressure to ease its ultra-loose monetary policy and raise its key interest rate from minus 0.1%. The BOJ has been keeping credit cheap to support the economy, but some economists argue that negative rates are hurting banks and consumers. The BOJ is waiting to see what kind of wage gains might come in 2024 as part of its strategy.

In other news, online food delivery company Meituan rose 6.8% in Hong Kong, despite a lawsuit filed against it by a U.S. company for allegedly selling counterfeit versions of Squishmallow plush toys. Ecommerce giant Alibaba gained 2.9%, even as a court in New York refused to dismiss the case. Shares in struggling developer Country Garden Holdings jumped 6.9%, as property stocks rebounded from recent losses.



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