Investors should ‘buckle up’ for jittery markets in September, warns deVere CEO August 24, 2021 Financial markets are going to get jittery in September amid concerns over the Delta variant, China’s regulatory attacks and shifting monetary policies. Against this backdrop, investors should review and potentially rebalance their portfolios sooner rather than later, according to Nigel Green, CEO of asset management firm deVere Group. “History teaches us that October is tricky [...]
Imagination Technologies cashes in on chip demand amid China tech row August 24, 2021 British semiconductor firm Imagination Technologies has posted a surge in revenue as a raging global chip shortage helped boost demand for its products. The company, which is based in Hertfordshire but owned by a Chinese private equity fund, reported a 55 per cent rise in revenue to $76m (£55m) in the first half of the [...]
China pauses over 40 IPOs as hawkish eyes fall on intermediaries August 24, 2021 Shanghai and Shenzhen stock markets have hit pause on more than 40 initial public offerings, as Chinese regulators probe several intermediaries featuring in the deals. The Shenzhen Stock Exchange has suspended more than 30 initial public offerings (IPOs), including public listing plans by electric car manufacturer BYD’s chip-making unit, which was scuppered on Wednesday. [...]
Imagination Technologies cashes in on chip demand amid China tech row : CityAM August 24, 2021 British semiconductor firm Imagination Technologies has posted a surge in revenue as a raging global chip shortage helped boost demand for its products. The company, which is based in Hertfordshire but owned by a Chinese private equity fund, reported a 55 per cent rise in revenue to $76m (£55m) in the first half of the [...]
SEC issues new disclosure rules for Chinese companies to list in New York August 24, 2021 The US Securities and Exchange Commission (SEC) has issued new disclosure requirements to Chinese companies seeking to list in New York amid Beijing’s regulatory crackdown. The SEC has started to give some Chinese companies detailed instructions about greater disclosure of their use of offshore vehicles, known as variable interest entities for IPOs, implications for investors, [...]
Chinese Uber rival Didi suspends UK launch amid data crackdown August 24, 2021 Ride hailing platform Didi has called off plans to launch in continental Europe including in UK cities. The firm is consulting with staff working on its Western Europe roll out on assigning roles and potential redundancies, according to reports from the BBC and The Telegraph. Plans to launch in London, Sheffield and Salford have been [...]
Chinese EV maker BYD’s shares rise despite chip-making unit’s IPO plan pausing August 23, 2021 Chinese electric car manufacturer BYD has been forced to suspend the proposed listing of its computer chip-making unit amid a regulatory probe into the law firm advising the company. BYD Semiconductor applied to list on Shenzen’s Nasdaq style market ChiNext in May and sought to raise at least $421m from the sale of shares. The [...]
China tightens scrutiny over accounting firms in fight against forgery August 23, 2021 China’s leadership has set new rules to strengthen supervision of accounting firms in a fight against financial forgery, vowing “zero tolerance” toward misconduct. China’ State Council said accounting firms have not fully played their role as “gatekeepers” of capital markets, which have often witnessed cases of financial forgery and inaccurate accounting information. The authorities will [...]
Markets stumble as China throws sand into the gears of recovery August 19, 2021 European stocks have come under further pressure today, in sharp contrast to last week. The falls appear to be being driven by several factors, so you can pick your poison to a certain extent, however the prospect of a Fed taper is unlikely to one of the main factors, given that US yields are lower, [...]
Alibaba shares sink to record low as China regulations on tech continues August 19, 2021 Alibaba Group shares sank by 5.4 per cent to a record low in Hong Kong on Thursday, following the latest round of regulations on Chinese tech giants by Beijing. The shares fell after China reportedly said it was looking at separate and new regulatory proposals including heightening oversight of the live streaming industry and ensuring the [...]