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US President Joe Biden is considering easing the tariffs on billions of dollars of imports from China that his predecessor Donald Trump had imposed. US inflation is rising at the fastest pace in over four decades and the administration has been under fire for its perceived inability to control the price rise. The tariffs were…
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Tesla stock was trading lower in early price action today. China Passenger Car Association (CPCA) released the July vehicle sales data that showed the company’s sales in China plummeted in the month. Tesla delivered 8,621 China-made electric cars in China in July, which were 69% lower than what it did in June. However, the company…
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The market cap of cryptocurrencies is shrinking by more than $300 billion this morning after three Chinese regulatory bodies announced a ban imposed to financial institutions and companies providing payment services that prevents them from offering products or performing transactions with crypto assets. These services include trading, clearing, settling, and registration, while the organizations are…
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Tesla stock fell 6.5% yesterday and was trading lower in US premarket trading today despite Wedbush reiterating its bullish bet on the electric vehicle maker and maintaining a $1,000 target price. 2020 was a spectacular year for not only Tesla but all the electric vehicle stocks. Tesla rose 740% in the year and also joined…
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Alibaba stock gained in Hong Kong trading today even as China slapped the eCommerce giant with a massive fine over the weekend. Why did the stock rise despite the fine and what’s the outlook? Over the weekend, China slapped a $2.8 billion fine on Alibaba in the antitrust probe. Alibaba was accused of using its…
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China today released its official PMI (purchasing managers index) data which was better than expected. However, Chinese stock markets closed in the red amid the sell-off in Asian markets today. China’s official manufacturing PMI was 51.9 in March, which was ahead of the 50 that analysts were expecting. The PMI stood at 50.6 in February….
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Nike stock fell 3.4% yesterday amid boycott calls in China. However, the stock was trading higher in US premarket trading today. How can investors play the stock? Nike is facing boycott calls in China over its previous comments over forced labor in China’s Xinjiang region. In a previous release, the company had said “Nike is…
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Prominent Tesla stock bull Cathie Wood has raised her target price on Tesla to $3,000 even as the company has apparently faced spying charges in China. Over the last couple of years, China has showered its love for Tesla like it hasn’t done with any other foreign automaker. To begin with, the company was allowed…
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Alibaba, the largest Chinese company listed in the US, has been facing multiple issues in China. In the most recent salvo at Alibaba, China has reportedly asked the company to shed its interests in the media business. While Alibaba is synonymous with eCommerce it has several other businesses including the cloud business that turned EBITDA…
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Chinese electric vehicle market XPeng Motors has secured a $76.9 million investment from an arm of the Chinese government as the electric vehicle race heats up in the country. Guangdong Yuecai Investment Holdings Co., Ltd, the investment arm of the Guangdong provincial government has invested money into XPeng. “The investment recognizes XPeng’s leadership position in…
