Provided by Dow Jones
By Will Horner, Caitlin McCabe and Xie Yu Investors around the world retreated from stocks Tuesday as a selloff in technology companies spread to other sectors of the market, leading to broad declines across major U.S. indexes. The Dow Jones Industrial Average tumbled about 450 points, or 1.3%, in recent trading, on pace for its worst one-day drop since late February. The S&P 500 fell 1%. The Nasdaq Composite lost 0.4%. Investors have become increasingly concerned about signs of inflation lately, forcing many money managers to pare back their positions in technology stocks. Growth stocks have traded lower for most of the past week, with the Nasdaq Composite down nearly 5% for May.
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By Will Horner and Xie Yu U.S. stocks and global indexes fell Tuesday after concerns about rising inflation resurfaced, prompting a selloff in highflying technology stocks. The S&P 500 dropped 1% after the opening bell, a day after the broad market index declined 1% from its record closing level. The Nasdaq Composite tumbled 1.2%, extending its losses for the week to 3.7%. The Dow Jones Industrial Average fell about 350 points, or 1%. Investors are betting that inflation is likely to climb steeply in coming months, driven by pent-up spending as well as supply bottlenecks and a leap in commodity prices. A sharp and sustained jump in inflation would erode returns on fixed-income assets and stocks whose valuations rely on future earnings. Some money managers are concerned that it may also prompt the Federal Reserve to pare back its easy money policies sooner than anticipated.
To the Board of Directors of China Resources Power Holdings Company Limited We have been engaged by the Board of Directors of China Resources Power Holdings Company Limited (the Company ) to perform a limited assurance engagement in relation to the selected data listed below and identified with an asterisk [ ] on page 77 to 79 (the Selected Sustainability Information ) in the Company s Sustainability Report for the year ended 31 December 2020 (the 2020 Sustainability Report ). Selected Sustainability Information Selected Sustainability Information# Nitrogen Oxides (NOx) emissions rate (g/kWh) Sulphur Dioxide (SO2) emissions (kt) Sulphur Dioxide (SO2) emission rate (g/kWh) Particulates emissions (kt) Installation rate of desulfurization device in coal-fired thermal power plants (%)
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By Xie Yu and Joanne Chiu U.S. technology stocks have slipped into correction territory. Chinese technology stocks have fallen even more. An index of the largest technology stocks listed in Hong Kong has dropped 26% in less than three weeks, reflecting how a sudden turn in the market has snowballed into significant losses for investors who piled into popular stocks earlier this year. The Hang Seng Tech Index which tracks 30 companies including Chinese internet giants Tencent Holdings Ltd. and Alibaba Group Holding Ltd., and smartphone maker Xiaomi Corp. closed Tuesday at its lowest level in 2021 and is now in bear-market territory, defined as a drop of at least 20% from a recent high.
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By Joanne Chiu and Xie Yu China s main stock benchmarks tumbled, erasing all of this year s gains, as investors grappled with signs that policy makers in Beijing will take more action to rein in debt and prevent asset bubbles from forming. The CSI 300 an index of the 300 largest stocks listed in mainland China fell 3.5% Monday while the Shanghai Composite Index dropped 2.3%, hitting their lowest closing levels in 2021. The CSI 300 is now in correction territory, having declined more than 10% from a recent peak on Feb. 10, just before the start of the Lunar New Year holiday. Chinese stocks have been trending lower in the past few weeks, after an earlier run-up and stellar 2020 performance that was underpinned by the country s return to economic growth during the Covid-19 pandemic.