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Dalai Lama Asserts Sole Authority Over Reincarnation Amid China’s Claims

In a landmark declaration just days before his 90th birthday, the Dalai Lama has reaffirmed that the centuries-old Tibetan Buddhist institution will continue after his death—and that his reincarnation will be determined solely by the Gaden Phodrang Trust , a foundation he established. This move directly challenges China’s long-standing assertion that it holds the final say in selecting the next Dalai Lama. Speaking in a pre-recorded message during a religious gathering in Dharamshala, India, the exiled spiritual leader stated that no external political power, including China, has any authority  to interfere in the reincarnation process. He emphasized that the search for his successor will follow traditional Tibetan Buddhist practices and be overseen by senior monks and spiritual advisors connected to the Trust. China swiftly responded, insisting that any reincarnation must be approved by Beijing and conducted within Chinese-administered Tibetan regions. Officials cited a Qing dynas...
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Stocks close mixed as tech pares losses


On Tuesday, January 9, 2024, the US stock market closed with mixed results. The Dow Jones Industrial Average (^DJI) slipped 0.4% or about 150 points. The benchmark S&P 500 ( ^GSPC) fell by nearly 0.2%, while the tech-heavy Nasdaq Composite ( ^IXIC) crawled above the flatline, in a reversal of earlier losses. The tech rally wavered after a Samsung profit warning took the shine off the sector. Samsung’s update weighed on hopes for a rebound in the PC and mobile sector, a key market for its memory chips. The Korean company said it expects a 35% drop in fourth-quarter operating income, far short of estimates, as demand continues to lag.

Investors are focusing on the December consumer inflation reading due Thursday and what it could mean for the chances of easing interest rates. Two Federal Reserve officials on Monday poured cold water on Wall Street’s already fading expectations that a cut could come in the next few months. The idea that inflation is cooling underpins investors’ belief that the US economy will skirt recession. That conviction faces a crucial test on Friday, when big banks kick off the fourth-quarter earnings season.

Oil prices ( CL=F) ( BZ=F) rose just under 2%, recouping some of Monday’s near 4% fall as investors weighed the impact of tensions in the Middle East and Saudi Arabia’s decision to cut crude prices.


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