Money: How a Chinese executive you never heard of is croaking the stock market - PressFrom - Canada
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MoneyHow a Chinese executive you never heard of is croaking the stock market

19:45  06 december  2018
19:45  06 december  2018 Source:   bostonglobe.com

Canada Goose caught in Huawei crossfire as Chinese pitch Canadian product boycott

Canada Goose caught in Huawei crossfire as Chinese pitch Canadian product boycott Canada Goose shares have fallen for five days in a row after the outdoor apparel maker became a target of Chinese consumers upset by the arrest of a high-ranking technology executive in Canada. The company has lost 20 per cent of its value since word emerged that Meng Wanzhou, the CFO of Chinese technology giant Huawei Inc. has been detained in Vancouver at the request of U.S. authorities. The expensive jacket maker has quickly become a style icon in China since the brand launched to much fanfare there last year with its iconic parkas and other winter wear.

The stock market — which is plummeting again this morning — sure thinks so. U.S. investors had the day off yesterday as the nation mourned the loss of former president One of China 's best-performing stocks this month is a tiny glass company you 've never heard of — but nobody seems to know why.

Good morning and welcome to Talking Points AM for Thursday, Dec. 6. Off the top. Did the US break the trade cease-fire? The stock market — which is plummeting again this morning — sure thinks so. US investors had the day off yesterday as the nation mourned the loss of former president George

How a Chinese executive you never heard of is croaking the stock market© Ng Han Guan/AP Huawei CFO Meng Wanzhou, shown here on a computer at a company store in Beijing.

Did the U.S. break the trade cease-fire? The stock market — which is plummeting again this morning — sure thinks so.

U.S. investors had the day off yesterday as the nation mourned the loss of former president George H.W. Bush. They needed it after a terrible Tuesday, when the S&P 500, a broad gauge of U.S. stocks, fell 3.4 percent. Unfortunately, things seem to be getting worse.

U.S. stock tumbled at the open this AM after steep declines in Asia and Europe. The Dow Jones industrial average sank more than 400 points, while S&P 500 resumed its slide after one of the biggest routs of the year.

Alibaba’s Jack Ma — Asia’s richest man — is a communist, Chinese media reveals

Alibaba’s Jack Ma — Asia’s richest man — is a communist, Chinese media reveals China’s state-backed media revealed Monday that the Alibaba Group founder and chairman was officially a member of the Communist Party. Ma is the richest individual in Asia, with about a $35.8 billion fortune, according to Forbes, and Alibaba (BABA) is an internet juggernaut worth about $390 billion. Ma’s political affiliation had never been publicly confirmed, and came as a surprise to some. Ma has not been seen as particularly cozy with Beijing, once quipping about his relationship with the Chinese government: “As always, be in love with them, but don’t marry them.

How a Chinese executive you never heard of affected the markets . Did the US break the trade cease-fire over Chinese spying and Iran sanctions? Last week, stocks jumped after Fed Chairman Jerome Powell indicated the central bank might consider a pause in rate hikes next year while it

The Chinese stock market turbulence began with the popping of the stock market bubble on 12 June 2015 and ended in early February 2016. A third of the value of A-shares on the Shanghai Stock Exchange was lost within one month of the event.

Why the dark mood? Well, investors are still worried that the U.S. economy is starting to run out of steam. And then there is the constant fretting over Brexit and the direction of oil prices (down a lot so far today).

But the biggest worry is that the trade truce announced over the weekend by President Trump and Chinese leader Xi Jinping has already fallen apart. Terms of that deal were sketchy at best, and U.S. officials were hard-pressed to back up yet another Trump claim of a big win for America (see: the Saudis' "pledge" to buy billions in U.S. arms and, of course, the end of the North Korean nuclear threat).

Then came the news that Canada, at the request of the U.S., had detained the chief financial officer -- and daughter of the founder -- of China's Huawei Technologies, the biggest manufacturer of equipment used by telecom and Internet carriers. The U.S. may seek to extradite the executive, Meng Wanzhou, on allegations that she was helping the company evade U.S. sanctions on trade with Iran.

BlackBerry Q3 beats estimates, stock up

BlackBerry Q3 beats estimates, stock up BlackBerry Q3 beats estimates, stock up

China is the world’s most populous digital market and the protection afforded by state censorship through the Late last year, Tencent became the first Chinese firm to pass the 0bn stock market valuation mark The protected market conditions that have allowed Tencent to flourish, and the vast

As a stock , INTL is one of the more interesting plays in the market at the moment. With one of the largest businesses in the financial world, the stock still looks cheap, trading at roughly 13 Certainly, many investors likely have never heard of the company — and that might provide an opportunity for

The Chinese government is demanding Meng's release, and the international incident threatens to scuttle any progress the president made in his art-of-the-deal negotiations with Xi at the G-20 meeting in Argentina, even though China earlier this week indicated it was committed to finding a resolution to the tariff war.

Huawei (pronounced "whah way") is hardly a household name here, but the company has long been a target of the U.S. government, which considers it a national security threat. How so? Because its products are integral to communications networks around the world, the U.S. suspects that Chinese leaders rely on Hauwei to steal government and corporate secrets. Huawei and Beijing have dismissed those allegations.

Moreover, there is that question of violating sanctions by selling equipment to Iran, which the U.S. Department of Justice has been investigating since earlier this year.

In other words, Hauwei is caught up in two major U.S. obsessions: fear that China is using espionage to challenge US economic supremacy, and Iran, which the Trump administration is hell-bent on bringing to its knees by sanctions and any other means at its disposal.

It's a big mess, and it may cost our retirement plans a lot of money.

'Crazy Rich Asians' fails to click with Chinese audiences.
BEIJING - Chinese audiences aren't exactly going nuts over the U.S. box office hit "Crazy Rich Asians," despite its all-Asian cast and theme of rising Asian prosperity. Industry data show the film made just $1.2 million over the three days of its initial release, far behind local productions in the world's second-largest movie market. That compared with the $25.6 million grossed by the Chinese crime drama "A Cool Fish," according to data from analyst Comscore. Chinese film industry veteran Wei Junzi says the romantic comedy's focus on Southeast Asian culture did not resonate with mainland Chinese, despite the cast's ethnic makeup. "It's a good genre movie," Wei said.

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