A Virus-Plagued Rat Year Ends, and China Starts Afresh It s exactly a year since the virus first locked down Hong Kong. What have we learnt since then? Spring Festival Risks Spreading Epidemic Far and Wide
It was exactly one year ago that I wrote my first article about the coronavirus, under that headline. We had been hearing, here in Hong Kong, since very late in 2019 about a mystery lung illness doing the rounds in central China that bore certain similarities with SARS. It was hitting just before the Spring Festival, a.k.a. Chinese New Year.
Now in 2021, we again await Lunar New Year (also celebrated in Vietnam and Korea), and parts of Beijing are locked down once again. There are 1.6 million residents of the Daxing suburb and the area around Beijing Daxing International Airport who are unable to leave the city. Another 22 million people in Hebei Province surrounding Beijing are also locked down. In a northeastern province on the Russian border, Heilongjiang, 16 offic
World s Third-Largest Smartphone Maker Added to U.S. Military Blacklist Xiaomi shares plunged in Hong Kong trade Friday after the Department of Defense said the mobile-phone maker is part of China s military-civil fusion .
Jan 15, 2021 | 08:30 AM EST
The shares of Xiaomi, the world s third-largest maker of smartphones, were slammed in Hong Kong trade on Friday after the U.S. Department of Defense labelled it as having ties to China s military. Xiaomi stock lurched lower as soon as trading started, and ended the day down 10.3%.
Xiaomi, which specializes in mass and mid-range phones, now sells more smartphones than Apple (AAPL) . It has been one of 2020 s success stories. Xiaomi s shares tripled in value over the course of the year, as it won business from its main mainland competitor Huawei Technologies, the primary initial target for U.S. sanctions.
U.S. Banks Delist Hong Kong Derivatives Linked to Chinese Military GS, JPM and MS are removing products from the Hong Kong exchange derived from companies deemed to have ties to the Chinese military.
Jan 11, 2021 | 09:45 AM EST
Decisions in Washington are affecting the derivatives market here in Hong Kong, on the other side of the world. That s as U.S. investment banks scramble to comply with the restrictions slapped on Chinese companies in the dying days of the Trump administration.
In Hong Kong, Goldman Sachs (GS) , J.P. Morgan (JPM) and Morgan Stanley (MS) are in the process of delisting a combined 500 derivatives. The banks consider the products to fall afoul of the requirement for U.S. investors to cease buying the shares of 35 companies identified as having ties to the Chinese military.
Jack Ma, China's highest-profile entrepreneur has vanished from sight for more than two months, and is said to have been told by the authorities not to leave town..BABA