November 4, 2020
Financial markets fluctuated violently as US election results poured in but with no clear winner in sight more volatility is expected. However, US Treasuries and the dollar rallied amid the fading expectation of a 'Blue Wave', which means lower chances of massive fiscal spending in 2021.
Gary Dugan, chief executive at The Global CIO Office in Singapore, tells Asia Times Financial TV that the time is ripe for overseas capital to be allocated into China
Xiaomeng Lu, a senior analyst of Eurasia Group's geo-technology practice, on the pulling of Ant’s China IPO
Douyin and Kuaishou are hoping to be the latest Chinese tech firms to raise capital in Hong Kong as they seek to expand into the lucrative and growing e-commerce arena.
In a divided-power scenario or a contested outcome, the rising volatility should push appetite for the US dollar higher in the short term, while expectations for higher deficit should recede sharply. Investors’ focus should shift back to the Covid-19 situation in Europe and its impact on growth.
Amundi
Xi Jinping said China would emerge from its latest five-year economic plan confab with a different development model. The key measures outlined are structural reforms of the state-run economy, strengthening the nation’s markets and increased supervision of state-owned assets. Xi also outlined a "forest chief system" to monitor environmental issues.
Bytedance, the parent company of Chinese social media app TikTok, has bought a rare earths processing company as the tech firm seeks to secure a stable supply of the “hot” commodity at a time of surging prices.
