Alibaba Group was obliged to pay the biggest corporate fine in the history of China for $2.8 billion for violating the anti-trust law. In this light, Alibaba shares showed an 8% growth. Chinese authorities tighten control over operations of IT companies.
Tag: china
The last week of March and the beginning of April in financial markets and other assets might be somewhat emotional due to the planned session of OPEC+ and a flow of US employment statistics.
Huawei and Xiaomi shares are going in the opposite directions. American companies cooperating with Huawei get their lives made tougher by the US government, while Xiaomi has got access to American investments again.
The world IPO market was surprisingly active and large in 2020. The number of IPOs — +31%, the money attracted — +59%. IPO leaders are the US and China. The most popular exchanges — NASDAQ, NYSE, SSE, SZSE.
The US dropped Xiaomi’s stocks by 10%. The corporation got on the blacklist of companies that, according to the US government, belong to or work with the Chinese military.
What is the corporation being accused of?
People stay self-isolated all over the world while economies receive more and more support from Central banks and financial authorities. At the same time, the commodity market remains turbulent, and the currency market is getting agitated.
This long winter, the coronavirus issue has become tiresome indeed, however, investors keep bringing it up, provoking sharp market fluctuations. The new week if February is likely to leave the catalyst in force.
Investors have long become used to the non-stop mighty flow of news, flooding the market. This week is no exception; however, the list of the planned news at the moment looks pretty neutral.