11/19/2020 Financial News:Chinese SOEs are failing, Trump signed order to stop investing in the CCP

Source: https://image.cnbcfm.com

1, U.S. stocks fell for a second straight day on Wednesday as the market’s recent rally to new records took a pause. The Dow Jones Industrial Average dropped 344.93 points, or 1.2%, to 29,438.42 in a volatile session, after rising as much as 147 points at its session high. The S&P 500 slid 1.2%, or 41.74 points, to 3,567.79, while the tech-heavy Nasdaq Composite fell 0.8%, or 97.74 points, to 11,801.60. The major averages finished the day near their session lows.

2,Trump’s order puts a halt to America financing China’s weapons. American capital should not be used to finance the development and construction of China’s military weapons that are literally aimed at killing Americans and driving the U.S. military out of Asia. President Trump recently signed an executive order putting a stop to that Wall Street insanity.

3, The price of bitcoin was trading about 8.6% higher Wednesday morning at $18,172, breaching a level it hasn’t hit since Dec. 20, 2017. Bitcoin is now creeping up toward the all-time high it posted in a late 2017 rally that saw the values of several cryptocurrencies surge. Crypto fans claim things are different this time, cheering big moves in the industry from the likes of Fidelity, Square and PayPal.

4, On November 13, Baoshang Bank announced on China Money website that the bank intends to implement a full write-down of the issued principal of 6.5 billion yuan “2015 Baohang second-tier debt” on November 13, and no longer pay any unpaid accumulated interest payable (total: 585639344.13 yuan), Baoshang Bank has on On November 12, the company notified the Central Government Bond Registration and Settlement Company Limited of its authorization to register the cancellation of claims on the execution date of the write-down.

5, Henan Energy Group defaults on 1 billion yuan bond Another AAA-rated SOE collapses: on November 10, Yongcheng Coal and Power Holding Group Limited (hereinafter referred to as “Yongcheng Coal Holdings”) announced that due to liquidity constraints, the “20 Yongcheng Coal SCP003” bond was sold to a bondholder in the United States. Failure to pay the principal and interest in full and on schedule constitutes a material breach of contract, with a total amount of $1.032 billion in principal and interest in default.

By 【 G-Translators – Financial and Law Team】

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5 months ago

To cease economic cooperation with the Communist Party, the ccp will die at once



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