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China stock sell-off: Investors lose $1 trillion in China's wild week of market shocks indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
Alibaba relieved as regulatory storm ends with record fine Alibaba CEO Jack Ma waved a red flag in the face of Chinese President Xi Jinping when he compared the nations financial markets to pawn shops, in a presentation ahead of the planned Initial Public Offering of Ant. In November regulators blocked the listing which would have been worth over $34bn according to The Wall Street Journal. The clash was part of a long-running battle between Ma and local regulators. It triggered intense scrutiny of online tech companies and e-commerce platforms, which previously enjoyed relative freedom in their operations. Regulators have seemingly made an example of Alibaba, issuing a record 18.2 billion yuan ($2.8 billion) fine for anti-competitive practices. – Melani Nathan ....
(Feb 8): Hong Kong’s stock traders are about to find out whether the US$7.1 trillion market can hold its own without its biggest source of flows. Starting Tuesday, trading links via Hong Kong’s exchange operator allowing mainland traders to buy domestic stocks will halt through Feb. 17th due to the Lunar New Year holiday. The stock connect closure will slam the brakes on record levels of inflows that helped propel Hong Kong’s equities market to its best start to a year since 1985. Investors north of the border turned bargain hunters in late 2020 after valuations in some sectors onshore reached the highest in more than a decade. Mainland investors net bought a total of nearly US$48 billion worth of Hong Kong stocks in the first five weeks of this year, which is already more than half of 2020’s total. ....
(Bloomberg) Hong Kong’s stock traders are about to find out whether the $7.3 trillion market can hold its own without its biggest source of flows.Starting Tuesday, trading links via Hong Kong’s exchange operator allowing mainland traders to buy domestic stocks will halt through Feb. 17 due to the Lunar New Year holiday. The stock connect closure will slam the brakes on record levels of inflows that helped propel Hong Kong’s equities market to its best start to a year since 1985.Investors north of the border turned bargain hunters in late 2020 after valuations in some sectors onshore reached the highest in more than a decade. Mainland investors net bought nearly $48 billion worth of Hong Kong stocks in the first five weeks of this year, which is already more than half of 2020’s total. They continued buying the city’s stocks on Monday, with net purchases at HK$12 billion ($1.5 billion).“We think it might be worthwhile to take some profit ahead ....