The Asia Eight

Daily must-reads from the world’s most dynamic region

November 11, 2020

  • Double Eleven online shopping event sees 580k orders per second
  • Brazil in a sticky spot after it halts trials of a Chinese Covid vaccine
  • TikTok-based influencer is bought in multi-million yuan deal
  • Rare earths traders fear more price rises as supplies tighten

01 E-shopping event crushes records

China’s equivalent of the Black Friday sales saw 580,000 items sold online EVERY SECOND. Pandemic worries and Communist Party self-sufficiency ambitions helped keep registers busy.

02 Asia Markets

China’s technology sector pressured by increased regulatory concerns; US Treasuries weaken as US economy gathers pace; Japan equities rally fuelled by stimulus, BoJ moves. China’s markets weighed down by underperforming vaccine makers after Brazil’s health regulator suspended a Sinovac vaccine trial. 

03 Vaccine injects life into the street

The Dow Jones surged after Pfizer said its coronavirus vaccine would have an efficacy of 90%, spurring gains across the board on hopes it could usher an end to economy-wrecking pandemic lockdowns. Asia Times Financial TV reports.

04 Vaccine halt concern

Brazil’s suspension of the trial of a Covid-19 vaccine by China’s Sinovac has highlighted geopolitical strains in the race to tackle the pandemic, as investors continue to digest Pfizer’s announcement of test success

05 Sunway buys e-star

Shares in Shanghai listed cable-maker soar after it pays a big premium for Luo Yongchao's internet sales company; meanwhile, the Consumers Association issues a warning over the risks of e-commerce sales and product quality as another Single's Day bonanza looms.

06 Rare earth price fears

Supply of light and heavy rare earths is tight in China, and institutions fear that a new round of peak prices is coming.

07 Huawei 'hides' cable business

Association with name of sanctions-hit technology business seen as detrimental to submarine cable unit that’s already been accused of posing a security threat to the US. 

08 Comment

"We have no choice but to file a petition in court to defend our rights."

TikTok company statement after filling a last-minute challenge to President Trump’s ban on the app