ajtj's Post-Lobotomy Market Charts and Thoughts Message Board

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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts

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ajtj99

To: Sun Tzu who wrote (54728)	3/16/2022 10:58:07 AM
From: Sun Tzu	1 Recommendation Read Replies (1) of 97962

Re: I wonder what concessions the US is willing to give and what the Chinese will ask for. I don't wonder anymore <vbg> . “China’s top leaders finally broke the silence to respond to the recent market selloff,” Larry Hu, chief China economist at Macquarie, said in a report. “The tone of the meeting is strong, suggesting that policymakers are deeply concerned about the recent market rout.” Worries about forced Chinese stock delistings from U.S. exchanges had added to investors’ concerns about economic growth following a resurgence of Covid-19 and the Ukraine war. On Monday, JPMorgan China Internet analysts Alex Yao and a team said they considered the sector “uninvestable” for the next six to 12 months, and downgraded 28 of the stocks they cover. The U.S. Securities and Exchange Commission said last week that U.S.-listed securities for five Chinese companies are at risk of delisting. It was the first time the regulator had named specific stocks for failing to adhere to the Holding Foreign Companies Accountable Act. Passed in 2020, the act would allow the SEC to delist Chinese companies from U.S. exchanges if American regulators cannot review company audits for three consecutive years. Beijing’s concerns about information security have generally prevented Chinese companies from allowing such audits. Early on Friday, the China Securities Regulatory Commission said in a statement that, along with the Ministry of Finance, it has made progress in communication with the U.S. Public Company Accounting Oversight Board. “We believe that through joint effort both sides will, as soon as possible, be able to make arrangements for cooperation in line with the two countries’ legal and regulatory requirements,” the Chinese securities regulator’s statement said, according to a CNBC translation.

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