The Asia Eight

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

December 22, 2020

1 TOP STORY: China to focus on local demand

2 ATF TV: Chinese NEV market roars forward

3 ASIA MARKETS: Nikkei, HSI, CSI300 decline

4 NEWS: Congress finally approves new stimulus

5 NEWS: US adds more officials to China visa ban

6 NEWS: Military-link company sanctions list grows

7 COMMENT: Central banks may need to reload

8 ATF BIG PICTURE: Asia set for flood of SPACs

01 Top Story Domestic focus for China in 2021

Amid 'external uncertainties', President Xi wants to expand consumption at home by boosting jobs, social security, the size of middle-income groups, and optimizing income distribution and 'common prosperity'

02 ATF TV China EVs move up a gear

ATF Correspondent Jon Macaskill talks to ATF TV about the new kid on the new energy vehicle block.

03 Asia Markets

Nikkei 225 falls 1% to 26,436.39; Hang Seng Index slides 0.7% to 26,119.25; CSI300 drops 1.9% 3,365.78.

04 At last. A US aid deal

After months of inaction, US legislators agree to $892 billion coronavirus relief package.

05 More US visa bars

US-China relations plunge further as Homeland Security chief Chad Wolf warns of tighter curbs on Chinese Communist Party members and a broader prohibition on goods

06 Military-link list grows

The US Commerce Department has published a list of 58 Chinese and 45 Russian companies with military links that will face export bans and other trading limitations

07 Comment

“From a consumer and investor sentiment perspective, the new variant of coronavirus Is likely to cause more damage to the global economy. This also means that the government officials and monetary policy members need to reload their guns as we could be in for a rough year." 

Naeem Aslam, Chief Market Analyst at AvaTrade

08 The ATF Big Picture SPACs on the rise in Asia

So-called blank-cheque companies, exchange-listed shells that raise money through initial public offerings, are enticing to investors in region's biggest start-ups