11/13 Financial News: Trump bans U.S. investments in firms controlled by the CCP military, Heavy selling in CCP bond hit full swing

Image source: http://www.szcifco.com/

1.The Dow fell 0.52%, the Nasdaq rose 0.34%, and the S&P 500 fell 0.36%.The major European stock indexes fell collectively, Germany’s DAX tumbled 1.23%,  France’s CAC 40 fell 1.6% and UK’s FTSE 100 dropped 1.28%. The Hang Seng CCP Enterprises index opened by 0.21%, China Mobile Ltd. opened lower by 5.79%, China Telecom Corp. opened lower by 4.81% and China Unicom (Hong Kong) opened lower by 3.38%.
https://kuaixun.stcn.com/cj/202011/t20201112_2528796.html

2.The Trump administration on 12th Nov unveiled an executive order prohibiting U.S. investments in CCP firms that Washington says are owned or controlled by the CCP military. The order could impact some of CCP’s biggest companies, including telecoms firms CCP Telecom Corp Ltd, CCP Mobile Ltd and surveillance equipment maker Hikvision.
https://www.japantimes.co.jp/news/2020/11/13/business/trump-bans-u-s-investments-chinese-military/

3.Chinese authorities have suspended timber exports from Victoria in the latest escalation of tensions between Australia.The latest escalation in trade tensions with CCP comes as Victorian Premier Daniel Andrews has warned the federal government against ripping up the state’s Belt & Road deal and called for greater “respect and mutual understanding”.
https://www.afr.com/world/asia/china-bans-victorian-timber-as-trade-tensions-mount-20201111-p56dl9

4.Yongcheng Coal and Electricity Holding Group Co., Ltd. (Yongmei Holdings) stated that as of the end of November 10, due to tight liquidity, it had not paid the “20 Yongmei SCP003″1.032 billion yuan in principal and interest has constituted a substantial breach of contract. When this bond was issued, Yongmei’s main credit rating was”AAA”. CCP Chengxin International downgraded Yongmei Holdings’ credit rating to”BB”. The default of Yongmei Holdings’ bonds will also trigger cross-risks.
https://www.yqqlm.com/2020/11/two-aaa-level-state-owned-enterprise-bonds-defaulted-within-18-days-affecting-the-rapid-deterioration-of-the-financing-environment-of-henan-energy/

5.500 billion market value of Unigroup Guoxin Microelectronics Co., Ltd. (Guoxin Micro) hit the daily downside limits in morning session. The market value of evaporation is 130 billion since 10th Nov. Debt anxiety is the main reason Guoxin Micro stocks plunge. In 12th Nov, CCP Chengxin International downgraded Guoxin Micro credit’s rating from “AAA” to “AA”.
http://www.nbd.com.cn/articles/2020-11-13/1547350.html

6.Significant shareholders reducing their holdings in 25 underperforming stocks. Hangzhou Hikvision Digital Technology Co.,Ltd. was been sold 107 billion yuan of shares of its company, and Bank of Ningbo was been sold 106 billion yuan of shares.
https://stock.stcn.com/gsdt/202011/t20201113_2528932.html

By 【G-Translators – Financial and Law Team-Tracy】

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