The PBOC suggested easier policy in the near to medium term, adding a tailwind for Mainland-listed equities. Shanghai, Shenzhen, and the STAR Board gained 0.61%, 1.42%, and 2.44%, respectively. Meanwhile, the Hang Seng dipped -0.39% and the Hang Seng Tech Index fell -0.73%.
Hong Kong Exchanges & Clearing announced changes to its rules for secondary listings that would make it easier for US-listed Chinese companies to re-list in Hong Kong. Issuers without a weighted voting rights structure will now be able to re-list in Hong Kong without demonstrating they are an “innovative company” and with a lower minimum market capitalization at listing than currently required.
Alibaba, Tencent, and Baidu were fined retroactively for past violations. The companies were fined a measly $78,000 for each violation . We knew that some regulatory news would pop up before the end of the year and I suppose this is it. It is important to note that some of these violations date back to 2012 and they were all retroactive. These companies are already in compliance with the new regulatory framework.
Alibaba HK was down -2% overnight as investors continue to digest the company’s less than stellar Q3 and the new fines. While macro headwinds weighed on the company‘s bottom line, it is important to remember that it was also affected by the company’s heavy investments in new businesses. Yes, we are seeing some growth and consumer slowdowns in China.
Real estate names experienced some profit-taking on the Mainland. However, the potential easing of real estate restrictions following regulators’ closer look at the sector bode well for a rebound, especially in the bond market. There was a report that homebuyers in Guangzhou city can, once again, receive a mortgage even if their home purchase does not line up with official reference prices.
For all those who are new to this working from home Bitcoin trading options Here's a little tip: Get a trusted Bitcoin expert and stick to him Arnoldnike93 Invest and play at similar times each day. Because : In times of chaos, your investment is your anchor to success⚖️
Malaysia Malaysia Latest News, Malaysia Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CNBC - 🏆 12. / 72 Read more »