Friday: Quick Update

China is using data protection rules to stop its tech companies from listing on US markets. This has led Tencent (TCEHY) to fall 3.1% today in Hong Kong.

Many foreign markets are down in reflection of the killings of US troops in Kabul but Britain, whose government had opposed the rapidity of the US withdrawal, is showing stocks up. Among the good performers are Glaxo and CRH, the cement firm.

Hoegh reported on its Q2 today. I sold all but one round lot of my shares after its parent took over the Bermuda companies contracts for LNG shipment using LNG powered vessels. It reported that it delisted its LNG firm in Oslo and took the following losses: $19.4 mn in losses, $10. mn in possible taxes to be paid, and $9 mn in one off financing. It also stated (haha) that the legal eagles in the US ganging up on Hoegh are making claims which are "baseless" and "without legal merit". Actually they sound reasonable to this former Hoegh shareholder.

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William K. 2 years ago Member's comment

It is usually wise to not own stock in a company found to be breakinglaws, or even just looking like they are breaking laws. Also it is wise to avoid companies run by weasels.