Asian markets were a sea of red except for China’s small gains, while Hong Kong and the Philippines were spared the carnage due to market holidays.
Chinese equity markets posted slight gains in renminbi though CNY was off -0.83% versus the US $ closing at 6.72 as the US dollar surges. It was a quiet weekend and Monday except for Premier Li’s speech emphasizing employment against the backdrop of China’s first covid zero policy. It wasn’t exactly a Vince Lombardi halftime motivational speech though he noted, “Promote the healthy development of the platform economy and drive more employment.
Mainland media source Yicai Global reported that Tiktok’s parent ByteDance might list the Chinese version of TikTok in Hong Kong, rebranding itself Douyin. Splitting the company into two entities would be an intelligent way to navigate the US-China political relationship. The PCAOB denied the Reuters article on a China visit which is disappointing. A Mainland media source noted the clinical trial of Sinopharma’s inactivated vaccine in Hunan province.
Shanghai, Shenzhen, and STAR Board managed small gains of +0.09%, +0.35%, and +0.48% on volume -11.59% from Friday, 62% of the 1-year average. There were 3,356 advancing stocks and 1,009 declining stocks. Value and dividend factors performed well today while larger companies underperformed. In US $, communication was the only positive sector +0.08% while discretionary -2.52%, energy -1.72%, staples -1.72% and financials -1.14%.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Parent mad at Apple for not stopping his 10-year old daughter's $2,500 TikTok shopping spreeA parent purchased an iPhone for his autistic 10-year-old daughter and she went behind her dad's back to use $2,500 of his money on TikTok.
Read more »
TikTok Viral Trend: Videos Ridiculing Amber Heard’s Testimony in Johnny Depp CaseA bizarre and disturbing trend has swept across TikTok over the last several days: Dozens of posts on the short-form video service — some amassing millions of views — have used video or…
Read more »
'Demoralizing and Demeaning': A Gross TikTok Trend Mocking Amber Heard is Going ViralTikTok has removed a handful of videos showing people reenacting Heard’s testimony that Johnny Depp slapped her, but thousands remain
Read more »
Feds Probe ADHD Pill Prescriber That Advertises on TikTokThe telehealth startup was subpoenaed amid claims it overprescribes without proper patient evaluations.
Read more »
How TikTok Live Became ‘A Strip Club Filled With 15-Year-Olds’Livestreams on the social media app are a popular place for men to lurk and for young girls—enticed by money and gift—to perform sexually suggestive acts.
Read more »