2/27/2021 Financial News: NYSE to Suspend Trading of CNOOC; CCP’s Blue-chip Stocks Plunged

Image source: https://www.cryptovibes.com

1.Raw materials have grown wildly in Communist China

The latest silicon material prices announced by the Silicon Industry Branch of the China Nonferrous Metals Industry Association shows that domestic polysilicon prices are unstoppable. According to the statistics of the Silicon Industry Branch, as of the week of February 24, the average transaction prices of domestic single crystal double feed materials, single crystal dense materials, and single crystal cauliflower materials were 106,300 yuan/ton, 103,400 yuan/ton, and 104,400 yuan respectively, each rose more than 11% month-on-month. This is the first time that the average transaction price of polysilicon materials has exceeded 100,000 yuan/ton ($15380/ton) since the start of the price increase in the second half of last year. And this price increase that exceeded market expectations will once again transmit cost pressure to the downstream or will bring a new round of pressure to the price of the domestic photovoltaic industry chain.

2.Ren Zhengfei: Huawei will change to online cloud strategy

On Friday, Huawei Xinsheng Community released Ren Zhengfei’s speech at the “GTS Cloud and Terminal Cloud Cooperation and Integration Progress” report. He said that the future is the cloud era, and Huawei will also turn to cloud strategy. Ren Zhengfei said that the end-pipe cloud must be coordinated to make a breakthrough. Huawei will use 2-3 years of practice to create the world’s best experience, safest and most reliable end-pipe cloud ecosystem on GTS services in the future. It is understood that Huawei already has one billion mobile phones online. At present, it is the first time to connect the terminal, tube, and cloud through the terminal and GTS collaboration, aiming for optimizing Huawei’s GTS service network.

Comment: Cloud strategy should contribute to the development of Huawei’s AI pig-breeding business. Their “Cloud Pig-breeding” plan may come out soon.

3.Communist China’s service trade deficit rose slightly in January

Reuters, Shanghai, February 26 – Communist China’s State Administration of Foreign Exchange (SAFE) announced on Friday that the service trade deficit in January was 9 billion U.S. dollars, and the deficit increased by 3.1% from the previous month’s 8.7 billion U.S. dollars, the second lowest level since the data was detailed. SAFE data also showed that the travel balance in January was a deficit of US$10.5 billion, a 10-month high, and the travel balance accounted for 116.6% of the total service trade deficit; in January, there was a deficit of US$2 billion in intellectual property rights, accounting for 22.6. %, which is the second largest deficit item.

4.Chinese investors lost 10,000 yuan ($1538) on average after Lunar New Year

Since the opening of the market, Shanghai stock market has gone against the normal conditions before. The previous hot Kweichow Moutai, Ningde Times and other representative stocks have plunge incredibly. Because these stocks are often weighted blue-chip stocks, their decline has also driven the index to start to fall. As a result, a magical “1929 market” appeared in Shanghai stock market, that is, 80% of small and medium-cap stocks are rising, and 20% of large-cap stocks are falling. But slowly, the small and medium caps also began to fall.

The outflow of funds is even more obvious. According to Wind data, on February 26, the Shanghai and Shenzhen stock markets had a net outflow of 57.19 billion yuan ($8.8bn) for the entire day, a net outflow for 8 consecutive days, with a cumulative net outflow of 275.65 billion yuan ($42.4bn).

5.The second batch of tariff exclusion list for the United States and Canada extended

Reuters, Beijing, February 26-The Tariff Commission of the State Council of China issued an announcement on Friday stating that the first exclusion list for the second batch of goods levied on the United States and Canada will expire on February 27, and it is decided to extend the exclusion period for goods according to the procedure. From February 28, 2021 to September 16, 2021, the tariffs imposed to counter the US 301 measures will continue to not be imposed.

6.NYSE moves to delist Communist China’s state oil group

The New York Stock Exchange is to start delisting proceedings against China National Offshore Oil Corporation to comply with an executive order from Donald Trump that bans Americans from investing in companies with ties to the CCP military. The NYSE on Friday said it would suspend trading in Cnooc’s American depository shares on March 9, after determining that the company was “no longer suitable for listing” following the order that the former US president signed in November.

7.Twitter wants people to pay to read social media posts

CNET reports that twitter has begun exploring a number of new products including a “Super Follow” feature that allows creators to offer access to premium posts for a fee. Twitter CEO Jack Dorsey said during the company’s first virtual analyst day on Thursday: “We’re focused on public conversation as a use case and that use case is going to have multiple formats associated with it. ” Super Follows and tipping are a new key product Twitter is focusing on. The features will allow creators and publishers on Twitter to charge a monthly subscription fee in order to view exclusive content or newsletters.

By 【Financial Team】

News Collection: Totoro, Sharon

Proofreading: 小蚂蚁在行动

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