Asian markets rose yesterday as a surge in Hong Kong on its first day back from a break helped overcome a sharp drop on Wall Street, while forecast-beating
The region is also threatened by concern over slowing growth in China and the prospect that the U.S. Federal Reserve will raise interest rates sooner than earlier anticipated.
(Bloomberg) Emerging-market traders are taking the once-bitten, twice-shy approach with Southeast Asia and omicron, dumping shares from the region that was most impacted when the delta variant arrived.
The MSCI AC Asean Index has fallen more than 4% since U.S.
The crash in tutoring stocks that began on Friday spread this week across the tech sector and beyond, after authorities confirmed reports they would ban a swathe of the education industry from making profits. It’s the government’s most extreme step yet to rein in private businesses that regulators blame for exacerbating inequality, increasing financial risk and in the case of some tech titans –- challenging Beijing’s authority.With losses in Chinese tech and education stocks now exceeding $1 trillion since February, the questions reverberating across trading desks from Shanghai to New York are where regulators might strike next and whether markets are properly discounting regulatory risk. Property-management and food-delivery companies were among the biggest losers on Monday after Beijing signaled tighter rules for both sectors.
The Straits Times
China crackdown rocks investors: Everybody s in the crosshairs
It s a reminder for global investors of the importance of tracking the Chinese government s shifting priorities.PHOTO: REUTERS
Updated2 hours ago
https://str.sg/33F2
They can read the article in full after signing up for a free account.
Share link:
Or share via:
Sign up or log in to read this article in full
Sign up
All done! This article is now fully available for you
Read now
Get unlimited access to all stories at $0.99/month for the first 3 months.
Get unlimited access to all stories at $0.99/month for the first 3 months.