The Asia Eight

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

November 13, 2020

  • Tech giant Tencent clobbered on markets after anti-trust law passed
  • It looks and feels like meat but it's fake. A new taste hits Asias palate
  • Trump targets China Telecom in latest swipe at Chinese tech firms
  • India is seeking to overcome logistical hurdles to join vaccine race

01 Tencent victim of anti-trust rule

China’s Google equivalent has become an early casualty of the nation's new anti-competitive practices law, with its stock plummeting and wiping $89 billion from the company's market value.

02 Asia Markets

Investor caution reigned as rising coronavirus infections, and the threat of more lockdowns, further eroded optimism that a vaccine would be ready soon. Trump and Republican prevarication over passing a new stimulus bill also weighed on markets.  

03 'Fake meat' hits Asian menus

Sales of plant-based meat substitute foods are surging, especially during the pandemic as consumers seek alternative protein sources at a time of heightened health concerns. Declining supplies of real meat are also stoking demand. Asia Times Financial TV reports.

04 Trump goes for CT

China Telecom became the latest of the nation’s high-profile tech firms to feel the wrath of outgoing President Trump as he signed a last-minute order barring US investment in firms connected to the Chinese military.

05 Trade of the Day

"The ravaging spread of the virus in the US, which may force tighter lockdown restrictions, is hurting global risk sentiment. But given that the Australian economy is likely to be an outperformer on the global comparative scale, dip buying should soon start to appear on the street with their fill of chasing AUDNZD lower."

Stephen Innes, Chief Global Market Strategist at Axi

06 China offshore oil find

Chinese drillers have discovered offshore petrocarbon deposits beneath the South China Sea that contain an estimated 200 million tonnes of oil and gas reserves of about 300 billion tonnes.

07 India ready for shots

Cold chain challenges appear as key bottlenecks for storing and distributing Covid vaccines. But India is ratcheting up its sprawling pharma industry to deliver the much-in-demand treatments.

08 Comment

"Inclusive finance must not only be the ‘icing on the cake,’ but also provide charcoal in the snow, and solve the problem of accessing finance and assist expensive financing.” 

Chen Yuanhao, head of the Poverty Alleviation and Coordination Division