The Asia Eight

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

January 28, 2021

1 TOP STORY: Day-trader anarchy reaches Asia

2 ATF TV: Will fiat currencies become dinosaurs?

3 ASIA MARKETS: HSI, CSI300, Nikkei plunge

4 NEWS: Fintech curbs revive China's banks

5 NEWS: White House toughens line on Huawei

6 NEWS: Korean shipyards in Petrobras bids

7 NEWS: AutoX unveils self-drive robotaxi

8 ATF BIG PICTURE: Tesla falters on China EVs

01 Top Story Asia funds in day-trader insurrection

Retail traders are winning a dramatic battle with short-selling hedge funds, including Citron Capital, whose founder Andrew Left is best known for attacking Chinese companies such as Evergrande; US regulators may intervene

02 ATF TV Fiat currencies

OANDA’s Edward Moya looks at the potential for virtual currencies to replace fiat currencies

03 Asia Markets

HSI falls 2.5% to 28,550.77, CSI300 loses 1.9% to 3,505.18 and the Nikkei 225 drops 1.5% to 28,197.42

Market Wrap

04 Fintech law boosts banks

New hurdles created for online finance companies are set to encourage traditional bricks-and-mortar lenders, which are likely to reclaim lost business through regulation

05 Huawei line toughened

The Biden administration will work to safeguard American telecoms networks from “untrusted vendors” like Huawei that threaten national security, the White House said on Wednesday in a continuing bid to avoid seeming weak on China

06 K-ships in Petrobras bid

Samsung, Hyundai and Daewoo's heavy industry units are all bidding for tenders valued at about $3.5 billion to construct two rigs for Brazil's state oil company

07 AutoX unveils robotaxi

Chinese self-driving car technology leaps ahead as internet giant Baidu receives a permit from California to test autonomous vehicles without a driver behind the wheel

08 ATF Big Picture