Forbes on Nostr: China Market Update: Meituan Moves As Global CEOs Meet In Beijing ========== Asian ...
China Market Update: Meituan Moves As Global CEOs Meet In Beijing
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Asian equities were lower in quiet trading despite a decline in the US dollar overnight. Hong Kong and Mainland China-listed technology stocks underperformed due to a Financial Times article stating that Chinese government agencies will curtail purchases from AMD and Intel. Premier Li spoke at the China Development Forum in Beijing, offering increased access and clarity on China's data rules for foreign companies. Ant Group's CEO remains on the agenda. Medical contract research organization Wuxi Biologics gained on news of Representative Mike Gallagher's retirement. Janet Yellen will be visiting China next month. Hong Kong's most heavily traded stocks were Meituan, Tencent, Alibaba, Hong Kong Exchanges, and Ping An Insurance. Baidu gained on Apple's use of their AI on Chinese iPhones. Southbound Stock Connect saw ETF redemptions from Mainland investors. The Hang Seng and Hang Seng Tech indexes fell, while the Main Board short turnover declined. Shanghai, Shenzhen, and the STAR Board also fell. CNY and the Asia Dollar Index appreciated versus the US dollar. Treasury bonds fell. Copper and steel were both off.
#China #MarketUpdate #Meituan #GlobalCeos #Beijing
https://www.forbes.com/sites/brendanahern/2024/03/25/china-market-update-meituan-moves-as-global-ceos-meet-in-beijing/
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Asian equities were lower in quiet trading despite a decline in the US dollar overnight. Hong Kong and Mainland China-listed technology stocks underperformed due to a Financial Times article stating that Chinese government agencies will curtail purchases from AMD and Intel. Premier Li spoke at the China Development Forum in Beijing, offering increased access and clarity on China's data rules for foreign companies. Ant Group's CEO remains on the agenda. Medical contract research organization Wuxi Biologics gained on news of Representative Mike Gallagher's retirement. Janet Yellen will be visiting China next month. Hong Kong's most heavily traded stocks were Meituan, Tencent, Alibaba, Hong Kong Exchanges, and Ping An Insurance. Baidu gained on Apple's use of their AI on Chinese iPhones. Southbound Stock Connect saw ETF redemptions from Mainland investors. The Hang Seng and Hang Seng Tech indexes fell, while the Main Board short turnover declined. Shanghai, Shenzhen, and the STAR Board also fell. CNY and the Asia Dollar Index appreciated versus the US dollar. Treasury bonds fell. Copper and steel were both off.
#China #MarketUpdate #Meituan #GlobalCeos #Beijing
https://www.forbes.com/sites/brendanahern/2024/03/25/china-market-update-meituan-moves-as-global-ceos-meet-in-beijing/