- The three major U.S. stock indexes halted four consecutive gains.The Dow closed down 157.71 points, or 0.55%, to 28679.81 points; the Nasdaq closed down 12.36 points, or 0.10%, to 11863.90 points ; The S&P 500 index closed down 22.29 points, or 0.63%, to 3,51.93 points. Large American technology stocks were mixed, with Netflix up 2.65%, Microsoft up 0.66%, Apple down 2.65%, and Twitter down 2.59%.
- The European Union will impose duties of up to 48% on imports of aluminum extrusions from CCP midway through an investigation into whether CCP producers are selling at unfairly low prices. They will apply until the investigation’s expected completion by April. At that point, the bloc could apply duties for five years.
- Australia’s Westpac Banking Corp on 14th Oct said it will exit operations in CCP after a review of its international businesses, as it seeks to focus on its core domestic and New Zealand customers. Westpac said the changes will reduce its risk-weighted assets by over A$5 billion (S$4.87 billion).
- CCP’s customs authorities have told several state-owned steelmakers and power plants to stop importing Australian coal. The move comes amid ongoing tensions in the relationship between CCP and Australia and reportedly affects both thermal and coking coal.
- Evergrande Group slumped in Hong Kong, shares sank 16%. The HK$4.3 billion ($555 million) top-up placement, Evergrande’s first foray into the capital markets since a liquidity scare last month.
- The restructuring of Guolian and Guojin Securities failed! The trend of brokerage stocks is facing a test, only CCP International Finance Securities thrived, while the rest of the brokerage stocks were all green. The suspension of the M&A project is questioned about insider trading and was also checked by the CCP Securities Regulatory Commission.
- AMC Entertainment Holdings Inc. is considering a range of options that include a potential bankruptcy to ease its debt load. AMC shares had plunged 13% as AMC Entertainment announced its cash might be gone by year end.
By 【Financial and Law Team-Tracy】