Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

China Stocks Sag

By MarketPulse (Jeffrey Halley)Stock MarketsJul 23, 2021 04:48AM ET
www.investing.com/analysis/china-stocks-sag-200593191
China Stocks Sag
By MarketPulse (Jeffrey Halley)   |  Jul 23, 2021 04:48AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

Tech crackdown sours China markets

Bloomberg reports that China regulators are considering severe sanctions on Didi Global (NYSE:DIDI) over its US IPO. The news sent its US-listed stock sharply lower overnight in New York, and that news, part of a relentless domestic big-tech crackdown by China, appears to be weighing on early sentiment in China markets. The Shanghai Composite has opened 0.45% lower, with the CSI 300 down 0.15%, and Hong Kong, home to many China tech-heavyweight listings, falling 0.85%.

That contrasted with a positive session in the US yesterday, where a continuous stream of positive earnings results and fading Delta fears saw Wall Street rise once again overnight. The S&P 500 gained 0.20%, with the NASDAQ climbing 0.36% and the Dow Jones adding just 0.07%. Beneath the bonnet, though, the quiet rotation back into more defensive 2020 darlings at the expense of growth appears to be continuing.

Impressive results from Twitter (NYSE:TWTR) and Snap (NYSE:SNAP) after the market close sent the NASDAQ and S&P 500 futures 0.35% higher, and that appears to be offsetting the China tech-scare in markets ex-China. Japan is closed, but the KOSPI has risen by 0.15%, with Taipei 0.35% higher and Singapore and Kuala Lumpur edging 0.15% to the green.

Australian markets are also modestly higher despite an extension to the Sydney lockdown and New Zealand just announcing a suspension to the Australia New Zealand travel bubble. It seems that news was expected, and both the ASX 200 and All Ordinaries remain 0.15% higher for the session.

Asian markets look content to ride out Friday with a no-further-bad-news-is-good news rally. For now, the markets appear unconcerned about either Covid or inflation and the same theme should ensure Europe and US markets finish in much the same manner. German, French, Eurozone and US Markit PMI’s today will be of passing interest to financial markets in a thin data calendar week unless there are some serious downside surprises.

Original Post

China Stocks Sag
 

Related Articles

China Stocks Sag

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email