Market Talk – Tuesday, Sept. 22


China and India have agreed not to deploy more troops to the frontline, China’s Defense Ministry said on Tuesday. The two sides held their sixth round of commander-level talks on the border situation on Monday. The countries have agreed not to unilaterally change the situation, so as to avoid any actions that might complicate the situation.

Byte Dance, owner of video-sharing platform TikTok is unlikely to get approval from Chinse government for its possible deal, which it has struck with Oracle Corp and Walmart Inc, People’s Daily said in its editorial. ByteDance has said it will create a US subsidiary, TikTok Global, that will be part-owned by Oracle and Walmart and TikTok Global’s board would comprise mainly of Americans. The newspaper daily said the requirement that four of the five board seats of TikTok Global be occupied by Americans and only one reserved for a Chinese national, as well as the inclusion of a US approved “national Security advisor” may hurt China’s national security, interests and dignity.

Shares of global banking giants HSBC and Standard Chartered Hong Kong plunged on Monday after official US financial crime data showed that the world’s biggest banks have allowed criminals to move more than $2 trillion “dirty money” around the globe. Files released by FinCEN, the US Financial Crimes Investigation Network, revealed that major global banks moved large sums of allegedly illicit funds over nearly two decades despite red flags about the origins of the money.

J.P. Morgan has opted not to include India’s government bonds in one of its flagship emerging market indexes after investors cited ongoing problems with capital controls, custody and settlement and other operational snags. India has one of the largest local currency government bond markets among emerging-market economies with over USD 800 billion in debt stock. But long-held restrictions on foreign buying of its bonds have kept it out of the top benchmarks used by global money managers.

1 2 3 4
View single page >> |
How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.


Leave a comment to automatically be entered into our contest to win a free Echo Show.