0918 Financial News:The CCP’s economic intervention difficult for enterprises to survive

photos https://www.fool.ca/2020/05/11/top-tsx-tech-stocks-for-may-2020/

1,On September 18, the three major US stock indexes closed down collectively, with selling pressure on tech stocks dragging down the broader market. Tesla fell more than 4%, the dollar index closed down 0.24%, and spot gold closed down 0.6%.


2,Asian stocks set for higher open on central bank support. Asian shares looked set to rise on Friday following pledges by central bankers globally to do whatever it takes to support the economic recovery while oil perked up as OPEC threatened to clamp down on member states that did not cut output.


3,The new U.S. company that TikTok’s owner ByteDance Ltd. plans to form with Oracle Corp. intends to hold an initial public offering(IPO) in about a year, according to people familiar with the matter. The new company, which would be called TikTok Global.


4,US Department of Labor: US initial jobless claims fell in the week ended Sept. 12 from the prior week. The United States added 1.4 million jobs in August, and the number of people applying for unemployment benefits has stabilized recently. Total initial jobless claims fell to 860,000 for the week, down 33,000 from the previous week’s level.


5,Investment bank-China International Capital Corporation (CICC) HK A-shares initial public offering (IPO) application was approved. China Securities Regulatory Committee asked about the fraud at Luckin Coffee Project.


6,The CCP’s Banking and Insurance Regulatory Commission new lending rules makes it difficult for small and medium-sized enterprises to survive: “Loans cannot be used for stocks or financial derivatives.” 

  1. Kweichow Moutai Co. said Wednesday that it plans to issue up to 15.0 billion yuan ($2.21 billion) of corporate bonds, and this is also the first issuance by Moutai Group Corporate bonds. It’s worth noting that the purpose of Moutai’s bond issuance this time is not to relieve its own financial pressure, but to give Guizhou Expressway Group Co., Ltd.  to make equity acquisitions. This is an evidence of CCP’s intervention in the economy
  1. Ministry of Commerce: From January to August this year, Chinese enterprises made US$11.8 billion in non-financial direct investment in countries along the “Belt and Road”, a year-on-year increase of 31.5%, and increased 4.8 percent compare to the previous year.
  1. Shenzhen Stock Exchange announced on September 16 that it will suspend 500etf short selling.

By 【Financial and Law Team】

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灭共52165 新中国联邦

take down ccp, it is evil



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