Photographer: Qilai Shen/Bloomberg

Your Evening Briefing

A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty. Who first uttered those words remains a subject of debate. But what's clear is that optimism will help you seek opportunities others may miss. A case in point: China's yuan. It's one of the world's least volatile currencies, for which a 0.1 percent move means headline news. But analysts say there are profits to be made if currency traders get creative and capitalize on stability. And what about Australia? While Morgan Stanley sees the economy struggling and stocks falling, strategists say there are still ways to profit amid the gloom.

Tesla is close to agreeing on plan for China production plant. The electric-car maker wants to build a Shanghai plant, giving it better access to the world's largest autos market and allowing it to bypass a 25 percent import tariff on vehicles sold in the country, according to a person familiar with the matter. Rules state the car giant would have to set up a joint venture with at least one local partner.

As Hong Kong apartments shrink, developers' coffers swell. Sometime later this year, Hong Kongers may be able to pay for the privilege of living in homes so small they're comparable to prison cells. Demand for these tiny apartments is booming, with projects often selling out within hours. And while floorspace shrinks, developers get richer.

Trump blames North Korea's 'brutal regime' for student's death. The U.S. President denounced the death of 22-year-old college student Otto Warmbier, who was imprisoned in North Korea for trying to steal a political banner. He had been sentenced to 15 years' hard labor, but was flown back to the U.S. last week in a coma. He died Monday. The White House described the president as being personally involved in securing his release.

These countries have the most dangerous roads.  Topping the list is Thailand, which sees a road-traffic death rate of 36.2 per 100,000 population. The average for developed nations is 9.3 deaths per 100,000.

Moody's downgrade brings Australia's home loan risks into focus. The decision to downgrade the ratings of Australia's largest banks has focused attention on the risks lurking in the country's $1.15 trillion of mortgage loans. Despite steps to rein in exposure to the riskier areas of mortgage lending, the lenders still sit on by far the largest property lending books of any banks in the world.

Is Islamic State threat shifting to the Philippines? Under attack in Iraq and Syria by a U.S.-led coalition, as well as Russia and Iran, IS is losing ground in its original strongholds. While that's good news for Iraqis and Syrians, it's raised concerns the group will spread and grow more potent elsewhere. Here's a guide to how the group is operating in the Philippines, and how investors are reacting to the threat.

The six mistakes many people make when pairing food with wine. We asked six sommeliers what the most common pairing blunders were. Fish and red wine? That's actually okay. Champagne with wedding cake? It's a big no-no. Here's why.

A fish dish with such powerful flavors as fennel, garlic, and chillies might go very well with a light red. 
Photographer: Monty Rakusen/Cultura RF

 

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