January 2026 kicks off with a wave of new watch releases from Credor, Hublot, Kurono and others, blending Japanese craftsmanship, avant-garde fashion collaborations and Lunar New Year motifs. Highlights include Credor Goldfeather Imari Nabeshima porcelain dial (€15,000), Hublot Classic Fusion Yohji Yamamoto All Black Camo (€12,700), Kurono Tokyo INSEKI with a meteorite dial (US$1,850), Oris Artelier Year of the Horse (€8,000), TAG Heuer Carrera Dato Year of the Fire Horse (€7,850), Venezianico Nereide GMT Xi’an (€950), Seiko 145th Anniversary editions from A$3,000, Casio G-Shock MRG-B2100D-2A Hanada-iro Blue (US$4,200), Bulova Year of the Horse, and Vario Versa Year of the Horse (A$654).
Starbucks launches its 2026 winter merchandise collections featuring themed tumblers, mugs, and cold cups for Lunar New Year, Valentine's Day, and everyday coffee moments, available from January 6 at participating locations.
Tesla's shares dropped over 7% after the company experienced a sales decline in China during February, selling 60,365 vehicles, a 19% decrease from the previous year. The drop was attributed to reduced car purchasing activities during the Lunar New Year holidays and increased competition from Chinese rivals like BYD. In response, Tesla has implemented new incentives, including insurance subsidies, to attract consumers in the Chinese market.
Free Palestine protestors attempted to disrupt the Lunar New Year parade in NYC by shouting "Ceasefire Now" and "Free Palestine" from a fire escape near the parade route, where politicians including Sen. Chuck Schumer and Gov. Kathy Hochul were giving speeches. Despite the disruption, the parade proceeded with thousands of participants from out of town, featuring 18 floats and 100 marching bands, and Mayor Eric Adams, who arrived late, briefly addressed the crowd before being escorted away by the NYPD.
Thousands gathered in San Francisco's Chinatown for the annual Chinese New Year Parade, celebrating the Year of the Dragon with a nearly three-hour parade featuring floats, a 300-foot dragon puppet, and grand marshal Awkwafina. Spectators enjoyed the festivities, including lion dances, firecrackers, and a sense of nostalgia, with the parade considered one of the top ten in the world and the largest Lunar New Year parade outside of Asia. The celebrations will continue through March 3, featuring a Community Street Fair with food vendors, activities, and performances.
Starbucks has introduced a new pork-flavored latte in China to celebrate the Lunar New Year, featuring a pork sauce and garnish with a piece of pork breast meat skewered on top of the drink. Priced at approximately $9.45, the "Abundant Year Savory Latte" has garnered attention on social media. With a significant presence in China, Starbucks aims to capitalize on the holiday season, which marks the busiest travel period in Asia.
Starbucks has introduced a new drink in China called the "Abundant Year Savory Latte," which combines Dongpo Braised Pork Flavor Sauce with espresso and steamed milk, priced at 68 yuan. The unusual drink has gained traction on Chinese social media, with some expressing curiosity and others skeptical due to the high price point. This move comes as China has become the biggest branded coffee shop market in the world, with Starbucks facing stiff competition from Luckin Coffee.
China's markets have not shown the expected post-holiday rebound, with modest gains for stocks and the central bank refraining from cutting rates, potentially limiting downward pressure on the yuan. Japan's Nikkei index is up almost 15% for the year, while Nvidia's upcoming earnings will test its high valuations. In Europe, upcoming data including flash PMIs and ECB surveys will be important, and there are concerns about high inflation forecasts in the US.
China reported a surge in travel and consumption during the Lunar New Year holiday, with 474 million trips made within mainland China and total spending reaching 632.7 billion yuan. However, average tourism-related spending per trip was below pre-pandemic levels, indicating weak consumer confidence amid deflationary pressure. While there were bright spots such as booming movie ticket sales, the economy is grappling with challenges including low confidence, deflationary pressure, and a record downturn in the real estate sector, which accounts for a significant portion of GDP and household wealth. The mixed economic data led to a modest boost in mainland Chinese markets but a drop in the Hong Kong market, as investors await more stimulus to revive growth.
Four Chinese films, including "YOLO" and "Pegasus 2," dominated the global box office during the Lunar New Year holiday, collectively earning over $1.1 billion. "YOLO" led the pack with $86.5 million over the weekend, bringing its 9-day total to $402 million, while "Pegasus 2" followed closely with $80.6 million. The holiday period saw a record box office revenue of $1.11 billion in mainland China, with 163 million tickets sold, reflecting a 26% year-on-year increase in attendance.
China's Lunar New Year tourism spending surpassed pre-Covid levels, reaching 632.7 billion yuan, with 474 million domestic trips taken during the holiday period. Despite the increase in spending, average trip spending was down by around 9.5% compared to 2019, indicating a trend of "consumption downgrading." The surge in spending provides a positive outlook for China's economy, which is facing challenges such as a property market crisis, weak exports, and concerns about falling consumer prices. Additionally, foreign investment in China fell to its lowest level since 1993, according to official data.
China's Lunar New Year holiday saw a surge in travel activity and spending, with 474 million domestic trips and 632.7 billion yuan ($87.95 billion) spent, surpassing pre-pandemic levels. This signals a potential revival in consumption in the world's second-largest economy. However, analysts caution that the strong data may reflect pent-up demand and a low base from the previous year, and the sustainability of the travel bump remains uncertain. Policymakers in China have been working to boost domestic consumption amid deflationary pressures, and market participants are watching for potential stimulus measures to support the economy and spending.
China's tourism revenues during the Lunar New Year holidays surged by 47.3% year-on-year, surpassing pre-pandemic levels and offering temporary relief to policymakers amid deflationary risks. Domestic tourism spending reached 632.7 billion yuan, with the number of domestic trips growing by 34.3% from last year. However, average spending per trip decreased by 9.5% from 2019, indicating consumption downgrading. International travel also saw a significant increase, with the total entry-exit trips returning to 90% of 2019 levels. The economy, facing challenges such as a property downturn and sluggish demand, prompted policymakers to maintain a delicate balance between supporting growth and addressing deflationary pressures.
Chinese stocks are expected to open strong after the Lunar New Year break, buoyed by positive travel and tourism data indicating increased consumption despite economic challenges. Offshore Chinese shares have already seen gains, suggesting potential for onshore shares to catch up. Market watchers anticipate a short-term boost for equities, supported by state intervention and positive data, but doubts linger about the market's long-term prospects amid economic woes and geopolitical tensions. Traders are hopeful for further policy support and stimulus measures ahead of key annual meetings in March.
A Waymo robotaxi was set on fire in San Francisco during Lunar New Year celebrations, with witnesses attributing the vandalism to confusion caused by fireworks and festivities. The incident marked a new level of confrontation between humans and autonomous vehicles in the city, prompting concerns about safety and public sentiment towards the technology. While no arrests have been made, authorities are investigating the incident, and the potential penalties for destroying a vehicle using fire or an explosive have been highlighted. Despite the attack, experts still believe in the potential of autonomous vehicles to provide affordable transportation access, but the incident has raised questions about public perception and safety measures for driverless cars.
