Baffled investors fear nothing is off limits in China regulatory crackdown

3/8/2021 3:22:00 PM

Baffled investors fear nothing is off limits in China regulatory crackdown

İnvestment, Regulation

Baffled investors fear nothing is off limits in China regulatory crackdown

SHANGHAI/SINGAPORE: Bewildered investors in China's tech sector scrambled once again from regulators on Tuesday (Aug 3), fearing that a state ...

03 Aug 2021 07:18PMSHANGHAI/SINGAPORE: Bewildered investors in China's tech sector scrambled once again from regulators on Tuesday (Aug 3), fearing that a state media story thatThe article was later altered to remove the historically loaded opium reference, but, together with the opening of a

Advertisement"People want to know when it's time to buy, but there's not yet something concrete in the rules to find as a floor."Shares in gaming firm NetEase fell nearly 8 per cent on Tuesday while losses were even bigger for game developer XD Inc, which fell 8 per cent, and mobile gaming company GMGE Technology Group, which dropped almost 14 per cent.

Read more: CNA »

‘I couldn’t move my body’: Singaporean, 30, stricken by myocarditis; doctors explain why younger people get it

SINGAPORE — In May, Ms Lee Pei Hsia came down with a fever. What had initially looked like a viral infection led to a serious case of acute myocarditis, which is an inflammatory condition of the heart muscle. The 30-year-old financial adviser said: “I thought it was just a common infection. I didn’t Read more >>

Just sell first, talk later.

'They Have My Sister': As Uyghurs Speak Out, China Targets Their FamiliesShe was a gifted agricultural scientist educated at prestigious universities in Shanghai and Tokyo. She said she wanted to help farmers in poor areas, like her hometown in Xinjiang, in western China. But because of her uncle’s activism for China’s oppressed Muslim Uyghurs, her family and friends said, the Chinese state made her a security target. At first they took away her father. Then they pressed her to return home from Japan. Last year, at age 30, Mihriay Erkin, the scientist, died in Xinjia

Asian shares weighed down by China worries as US earnings shineAsian shares face another tough week as Beijing's regulatory crackdown fans fears about China's economy, though upbeat economic data in the United ... Invest in Bitcoin, Litecoin, US stocks or SEA stocks but stay far away from toxic china stocks.

Li Bingbing's Latest Magazine Shoot Accused Of “Insulting” China太漂亮了

Olympics: Indonesia takes women's badminton doubles gold, China gets silverTOKYO: Greysia Polii and Apriyani Rahayu of Indonesia on Monday (Aug 2) bagged the women's doubles gold medal in badminton at the Tokyo Olympic ... Well done team Indonesia for taking the gold medals and of course culling and humiliating the CCP with this important victory Good job humiliating those Chinese commies like what Taiwan has done. 👏🏻

Olympics-Badminton-Indonesia takes women's doubles gold, China gets silverGreysia Polii and Apriyani Rahayu of Indonesia on Monday bagged the women's doubles gold medal in badminton at the Tokyo Olympic Games, leaving China's Chen Qing Chen and Jia Yi Fan with the silver after a match that ended 21-19 21-15. Earlier, world number five pair Kim Soyeong and Kong Heeyong won the women's doubles bronze medal.

Millions under COVID-19 lockdown as China battles Delta outbreakMillions of people were confined to their homes in China Monday as the country tried to contain its largest coronavirus outbreak in months with ... How many countries are as seriously fighting delta as China? SG is abt to give up apparently. That's how u do it .... Chinese wont let their people died without a fight .

Advertisement Business People walk in Lujiazui financial district during sunset in Pudong, Shanghai, China, Jul 13, 2021.Read full article 27 July 2021, 2:41 pm · 6-min read Rushan Abbas, a Uyghur American activist, at a rally encouraging sanctions against Chinese officials in Washington, May 3, 2019.Advertisement Business Asian shares face another tough week as Beijing's regulatory crackdown fans fears about China's economy, though upbeat economic data in the United States and Europe and solid corporate earnings put a floor under their markets..

(File photo: REUTERS/Aly Song) 03 Aug 2021 07:18PM Share this content Bookmark SHANGHAI/SINGAPORE: Bewildered investors in China's tech sector scrambled once again from regulators on Tuesday (Aug 3), fearing that a state media story that likened Internet gaming to opium signals a new front in the barrage of scrutiny that is being directed towards big business. The article was later altered to remove the historically loaded opium reference, but, together with the opening of a , it roiled markets still smarting from a panic sell-down a week ago. She said she wanted to help farmers in poor areas, like her hometown in Xinjiang, in western China. Advertisement Advertisement Tencent, the social-media-to-gaming behemoth, fell 6 per cent and was briefly knocked from its mantle as Asia's most valuable company, while semiconductor stocks slid as the moves seemed to unwind authorities' days-old promise of a calmer hand. China's woes were underlined over the weekend by a survey showing factory activity grew at the slowest pace in 17 months amid rising costs and extreme weather. "This drip feed of 'potential' regulations constitutes a tsunami of uncertainties," said Richard Kramer, managing partner of Arete Research. At first they took away her father. "People want to know when it's time to buy, but there's not yet something concrete in the rules to find as a floor.

" Advertisement Advertisement Shares in gaming firm NetEase fell nearly 8 per cent on Tuesday while losses were even bigger for game developer XD Inc, which fell 8 per cent, and mobile gaming company GMGE Technology Group, which dropped almost 14 per cent. Last year, at age 30, Mihriay Erkin, the scientist, died in Xinjiang, under mysterious circumstances. "Surging company profits in the U. China's CSI All Shares Semiconductor & Semiconductor Equipment Index tumbled more than 6 per cent. China's State Administration for Market Regulation said it had launched an investigation into auto chip distributors because it suspected price gouging. Her uncle, Abduweli Ayup, the activist, believes she died in state custody. The state-media article that sparked Tuesday's tech selling, published in the Economic Information Daily, mentioned a Tencent video game and called for more curbs to address children's' addiction to games it initially described as"spiritual opium". About 89per cent of the nearly 300 recent U. Advertisement READ: Why China is hobbling its tech sector The outlet is affiliated with China's biggest state run news agency, Xinhua. His two siblings had already been detained and imprisoned.

The article soon disappeared from the paper's website and WeChat - and Tencent's stock rebounded a little - then it later re-appeared minus the"spiritual opium" line. It was not clear why it was altered, though opium addiction is a sensitive subject in China where it was widespread in the 19th century, sparking two Opium Wars and the ceding of Hong Kong island"in perpetuity" to Britain. “People are not only suffering there, they are not only being indoctrinated there, not only being tortured, they are actually dying,” said Ayup, who now lives in Norway. Earnings are now expected to have climbed 89. Traders took the deletion as softening the attack - even if that was only cold comfort. "Most will be inclined to believe there's no smoke without fire," said Dave Wang, a portfolio manager at Nuvest Capital in Singapore, which owns Tencent stock, of the vanished story.” As Beijing has intensified its repression in Xinjiang in recent years, more Uyghurs living overseas have felt compelled to speak out about mass internment camps and other abuses against their families back home. "There's expectation of a further tightening on the gaming sector," he added. There was also the prospect of more fiscal stimulus ahead as U.

"There are plenty on the sidelines waiting for clarity on when this crackdown will finally come to a close before any more meaningful investments into China. Now the Chinese authorities are pushing back against overseas Uyghurs by targeting their relatives." NOTHING OFF LIMITS Investors believe a major shift is under way in China as the government aggressively pursues reform aimed at cutting cost-of-living pressures at the expense of businesses. READ: China's crackdown on its biggest companies Chaotic selling last week, triggered by leaked details of an education-sector crackdown, capped the worst month for Chinese stocks in nearly three years as investors worried about where the next target may lie. With the courts under the control of the authorities, there is little recourse to challenge such prosecutions. Advertisement Advertisement The optimism was apparent in early trading with S&P 500 futures rising 0. China's securities regulator, in a meeting with foreign brokerages last week, had sought to soothe fears with a promise of a steadier reform roll-out, yet Tuesday's news sparked fresh concern that nowhere is safe. "(The share price moves) showed how investors are jumpy these days," said Ether Yin, partner at Beijing-based consultancy Trivium. Her younger brother, Liu Hui, served two years in prison for a fraud conviction she called retaliation.

"They don't believe anything is off limits and will react, sometimes overreact, to anything on state media that fit the tech crackdown narrative. Asia has fared so well, with China's crackdown on the tech and education sectors hammering stocks, while the spread of the Delta variant of the coronavirus in the region hit growth." The nerves have coincided with a slowdown in China's economy - factory activity grew at its slowest pace since February 2020 last month - adding to a broad sense of caution in markets even among investors who say the crackdowns are manageable. Dolkun Isa, the German-based president of the World Uyghur Congress, a Uyghur rights group, said he believes his older brother is in detention. "We see little global spillover risk from China's assertion of greater control over certain industries, even as it potentially leads to market volatility," analysts at BlackRock Investment Institute said in a note. "We remain tactically neutral on China stocks and see further monetary and fiscal policy loosening as beneficial for cyclical assets in China. “It was connected to my activism, surely,” Isa said.1per cent, but that was from its lowest since January." Source: Reuters/dv .