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cheecheepoo
cheecheepoo
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2021-08-02
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Oil: Demand Has Peaked, But Hurricanes Are Coming- Analysis
Have We Reached A Seasonal Peak? The start of August marks the end of seasonally peak demand by refi
Oil: Demand Has Peaked, But Hurricanes Are Coming- Analysis
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cheecheepoo
cheecheepoo
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2021-07-30
Okay good discount
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cheecheepoo
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2021-07-30
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HK, China stocks resume slump on regulatory concerns, COVID jump
SHANGHAI, July 30 (Reuters) - Shares in Hong Kong and China resumed their slump on Friday after rebo
HK, China stocks resume slump on regulatory concerns, COVID jump
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The risk in the spring is generally characterized by a late, unexpected cold snap which drives up heating demand, and the risk in the fall is generally characterized by the potential for a very damaging hurricane along the USGC that disrupts refined product supply.</p>\n<p>One of the most prolific reactions in recent history by gasoline markets to a USGC hurricane happened during Hurricane Harvey in late August of 2017 when refiners dealt with power outages and flooding. This led to a spike, into expiration, of the September vs December calendar spread in gasoline futures, since the September contract was the still on the board as Harvey made landfall.</p>\n<p><img src=\"https://static.tigerbbs.com/3fb045286165979c36e245b9027e3473\" tg-width=\"740\" tg-height=\"602\" width=\"100%\" height=\"auto\">We saw a similar pattern in US ULSD markets, although to a lesser extent than in gasoline markets.</p>\n<p><img src=\"https://static.tigerbbs.com/ec51c014870c78de94bd79339bbda70f\" tg-width=\"740\" tg-height=\"598\" width=\"100%\" height=\"auto\">By contrast, the impact on the Sep/Dec spread in WTI was benign since oil throughput was reduced due to storm-related refinery outages.</p>\n<p><img src=\"https://static.tigerbbs.com/389e762c1b8ddc784667a006ae5f02aa\" tg-width=\"740\" tg-height=\"591\" width=\"100%\" height=\"auto\">According to the American Petroleum Institute (API), this year's hurricane season (2021) is forecast to be an above-average Atlantic hurricane season. Last year’s record 30 named storms forced shutdowns of offshore oil production that reached, at one point, 90% of 1.9 million barrels per day in production and idled refineries for weeks. Two refineries in hard-hit Lake Charles, Louisiana, were shut for months.</p>\n<p>Supply-side disruptions of any kind this year would come at a time when total US petroleum inventories are close to their lowest point in 7 years (dark purple line below).</p>\n<p><img src=\"https://static.tigerbbs.com/da076143ad93d8d50510c04d9e3604bd\" tg-width=\"740\" tg-height=\"585\" width=\"100%\" height=\"auto\"></p>\n<p>Earlier we noted the monthly shape of refiner utilization. This is starting to play out in the relative value of WTI calendar spreads. With September and October typically characterized as refinery outage months, the front two WTI spreads have started to weaken relative to the Nov/Dec spread (gold line below). This follows the 'shape' of monthly refiner inputs.</p>\n<p><img src=\"https://static.tigerbbs.com/08e36c0f8bd94e575e36941d99e90a9f\" tg-width=\"740\" tg-height=\"600\" width=\"100%\" height=\"auto\">This year, on top of the normal fall seasonality and hurricane risk, we also have to contend with countries withholding gasoline exports in order to keep a lid on in-house prices. According to<u>Reuters</u>, Russia's energy ministry said last Friday that it filed a proposal for the government to start a procedure for a ban on gasoline exports. \"The energy ministry proposed to the government to launch an urgent procedure of banning exports of gasoline,\" the ministry said in a statement. It said earlier that the ban may help to reduce domestic prices for gasoline after they rose in recent months, which is a sensitive issue for Russia ahead of the September parliamentary election.</p>\n<p><b>Get long gasoline cracks ahead of outage season?</b></p>\n<p>With disruptions from potential hurricanes, bans on gasoline exports by some countries, petroleum inventories near 7 year lows, and seasonal refining maintenance on the horizon, one might be tempted to to get long Q4 gasoline cracks. After all, we know that OPEC+ will be progressively raising crude oil output by 400k bpd every month for the foreseeable future while gasoline production could face tighter global supply issues if countries follow-through with banning gasoline exports. Yet, when looking at the performance of Q4 gasoline cracks since 2014 we note that we are already trading near the top end of the recent historical range (gold line below).</p>\n<p><img src=\"https://static.tigerbbs.com/f5632a8e1b794bdaeb3ee8d3b8a127ff\" tg-width=\"740\" tg-height=\"590\" width=\"100%\" height=\"auto\">We are still in unprecedented times as pandemic effects linger across the complex and threaten to cause disruptions in demand going forward. This, coupled with US gasoline inventories, are holding people back from establishing new length at these levels, even though the fundamental backdrop looks quite positive in the near term. As we noted earlier, total inventories (crude oil + gasoline + distillate) are near 7 year lows. However, gasoline inventories alone are well within their historical range. The market considers this a weak link and is skeptical as to whether or not we get further draw-downs during August (the last of the peak summer demand months) and into the fall like we have seen in previous years.</p>\n<p><img src=\"https://static.tigerbbs.com/4fbd66065e15215d29c5c643f6a4497b\" tg-width=\"740\" tg-height=\"602\" width=\"100%\" height=\"auto\">Doing its part, US gasoline demand managed to hit a historical peak ahead of the July 4th holiday weekend this year (EIA week ending July 2).</p>\n<p><img src=\"https://static.tigerbbs.com/58edaa47416ee362190290f805a2c108\" tg-width=\"740\" tg-height=\"595\" width=\"100%\" height=\"auto\">Gasoline has even managed to trade flat to ULSD in the October-21 contract, which is not the historical norm as peak driving season has ended by then and winter heating season is just beginning.</p>\n<p><img src=\"https://static.tigerbbs.com/a616ac7fc8b68bd0f45b1ac0ad851e9f\" tg-width=\"740\" tg-height=\"611\" width=\"100%\" height=\"auto\"></p>\n<p>While the combination of low inventories, reduced export of gasoline by some key countries, refinery maintenance and hurricane season, it might seem as though we are setting up for the perfect storm and the way to express that would be via length in gasoline or gasoline cracks. Demand data continues to look up. According to GasBuddy data, weekly US gasoline demand has set another 2021 record, rising 0.3% from last week (Sun-Sat).</p>\n<p>However, as shown above, gasoline appears to be at the top end of its value relative to it's peers - crude oil and distillate. This makes the market vulnerable to time - the time it takes to wait for the above combination to realize. But, it does suggest that unless things change, pullbacks should be bought.</p>\n<p><b>OF NOTE OVER THE WEEKEND - OMAN TANKER ATTACK UPDATE</b></p>\n<ul>\n <li>UK assessments have concluded that it is highly likely that Iran attacked the MV MERCER STREET in international waters off Oman using one or more Unmanned Aerial Vehicles. We believe this attack was deliberate, targeted, and a clear violation of international law by Iran.</li>\n <li>U.S. CONFIDENT IRAN CONDUCTED ATTACK ON ISRAELI-MANAGED TANKER OFF OMAN – U.S. SECRETARY OF STATE BLINKEN</li>\n</ul>\n<p><b><i>Weekly Changes</i></b></p>\n<p>The EIA reported a total petroleum inventory<u><i><b>DRAW of 9.40 million barrels</b></i></u>for the week ending July23, 2021 (vs a build of 0.710 million barrels last week).</p>\n<p><img src=\"https://static.tigerbbs.com/6811b3e694effb55630ce977c29bbeb8\" tg-width=\"740\" tg-height=\"208\" width=\"100%\" height=\"auto\"><b><i>YTD Changes</i></b></p>\n<p>Year-to-date cumulative changes in inventory for 2021 are DOWN by 94.00 million barrels (vs down 84.60 million last week).</p>\n<p><img src=\"https://static.tigerbbs.com/df553ba5217793dddd99320ca1a7c48a\" tg-width=\"740\" tg-height=\"241\" width=\"100%\" height=\"auto\"><i><b>Inventory Levels</b></i></p>\n<p><b><u><i>Commercial Inventory levels of Crude Oil (ex-SPR)</i></u></b>compared to prior years are have gone from way above historical levels to slightly below historical levels and should continue to draw as long as backwardation in the market persists.</p>\n<p><img src=\"https://static.tigerbbs.com/dd707e7ded321d840cf8f884406f3fe7\" tg-width=\"740\" tg-height=\"382\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/912934d57fc7c6589071338fa6e73014\" tg-width=\"515\" tg-height=\"552\" width=\"100%\" height=\"auto\"></p>\n<p><b>Energy Technical Overview Via Mooranalytics.com</b></p>\n<p><img src=\"https://static.tigerbbs.com/93470179d3281c7d1f95023171593222\" tg-width=\"500\" tg-height=\"530\" width=\"100%\" height=\"auto\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Oil: Demand Has Peaked, But Hurricanes Are Coming- Analysis</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOil: Demand Has Peaked, But Hurricanes Are Coming- Analysis\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-02 21:59 GMT+8 <a href=https://www.zerohedge.com/news/2021-08-02/oil-demand-has-peaked-hurricanes-are-coming-analysis><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Have We Reached A Seasonal Peak?\nThe start of August marks the end of seasonally peak demand by refiners for crude oil in the US.One of the key drivers of this is the onset of fall refinery ...</p>\n\n<a href=\"https://www.zerohedge.com/news/2021-08-02/oil-demand-has-peaked-hurricanes-are-coming-analysis\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CRUD.UK":"WTI原油ETF"},"source_url":"https://www.zerohedge.com/news/2021-08-02/oil-demand-has-peaked-hurricanes-are-coming-analysis","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1116207905","content_text":"Have We Reached A Seasonal Peak?\nThe start of August marks the end of seasonally peak demand by refiners for crude oil in the US.One of the key drivers of this is the onset of fall refinery maintenance season, which typically takes place during the shoulder months (Mar-Apr and Sep-Oct) and leads to less refinery throughput.\nShoulder months are the time of the year when demand is expected to be at its lowest and therefore refiners seize this opportunity to take units down for required maintenance.\nShoulder months are also a time when any stress on refined product supply can cause exaggerated market responses since inventory is relied on to make up any shortfall. The risk in the spring is generally characterized by a late, unexpected cold snap which drives up heating demand, and the risk in the fall is generally characterized by the potential for a very damaging hurricane along the USGC that disrupts refined product supply.\nOne of the most prolific reactions in recent history by gasoline markets to a USGC hurricane happened during Hurricane Harvey in late August of 2017 when refiners dealt with power outages and flooding. This led to a spike, into expiration, of the September vs December calendar spread in gasoline futures, since the September contract was the still on the board as Harvey made landfall.\nWe saw a similar pattern in US ULSD markets, although to a lesser extent than in gasoline markets.\nBy contrast, the impact on the Sep/Dec spread in WTI was benign since oil throughput was reduced due to storm-related refinery outages.\nAccording to the American Petroleum Institute (API), this year's hurricane season (2021) is forecast to be an above-average Atlantic hurricane season. Last year’s record 30 named storms forced shutdowns of offshore oil production that reached, at one point, 90% of 1.9 million barrels per day in production and idled refineries for weeks. Two refineries in hard-hit Lake Charles, Louisiana, were shut for months.\nSupply-side disruptions of any kind this year would come at a time when total US petroleum inventories are close to their lowest point in 7 years (dark purple line below).\n\nEarlier we noted the monthly shape of refiner utilization. This is starting to play out in the relative value of WTI calendar spreads. With September and October typically characterized as refinery outage months, the front two WTI spreads have started to weaken relative to the Nov/Dec spread (gold line below). This follows the 'shape' of monthly refiner inputs.\nThis year, on top of the normal fall seasonality and hurricane risk, we also have to contend with countries withholding gasoline exports in order to keep a lid on in-house prices. According toReuters, Russia's energy ministry said last Friday that it filed a proposal for the government to start a procedure for a ban on gasoline exports. \"The energy ministry proposed to the government to launch an urgent procedure of banning exports of gasoline,\" the ministry said in a statement. It said earlier that the ban may help to reduce domestic prices for gasoline after they rose in recent months, which is a sensitive issue for Russia ahead of the September parliamentary election.\nGet long gasoline cracks ahead of outage season?\nWith disruptions from potential hurricanes, bans on gasoline exports by some countries, petroleum inventories near 7 year lows, and seasonal refining maintenance on the horizon, one might be tempted to to get long Q4 gasoline cracks. After all, we know that OPEC+ will be progressively raising crude oil output by 400k bpd every month for the foreseeable future while gasoline production could face tighter global supply issues if countries follow-through with banning gasoline exports. Yet, when looking at the performance of Q4 gasoline cracks since 2014 we note that we are already trading near the top end of the recent historical range (gold line below).\nWe are still in unprecedented times as pandemic effects linger across the complex and threaten to cause disruptions in demand going forward. This, coupled with US gasoline inventories, are holding people back from establishing new length at these levels, even though the fundamental backdrop looks quite positive in the near term. As we noted earlier, total inventories (crude oil + gasoline + distillate) are near 7 year lows. However, gasoline inventories alone are well within their historical range. The market considers this a weak link and is skeptical as to whether or not we get further draw-downs during August (the last of the peak summer demand months) and into the fall like we have seen in previous years.\nDoing its part, US gasoline demand managed to hit a historical peak ahead of the July 4th holiday weekend this year (EIA week ending July 2).\nGasoline has even managed to trade flat to ULSD in the October-21 contract, which is not the historical norm as peak driving season has ended by then and winter heating season is just beginning.\n\nWhile the combination of low inventories, reduced export of gasoline by some key countries, refinery maintenance and hurricane season, it might seem as though we are setting up for the perfect storm and the way to express that would be via length in gasoline or gasoline cracks. Demand data continues to look up. According to GasBuddy data, weekly US gasoline demand has set another 2021 record, rising 0.3% from last week (Sun-Sat).\nHowever, as shown above, gasoline appears to be at the top end of its value relative to it's peers - crude oil and distillate. This makes the market vulnerable to time - the time it takes to wait for the above combination to realize. But, it does suggest that unless things change, pullbacks should be bought.\nOF NOTE OVER THE WEEKEND - OMAN TANKER ATTACK UPDATE\n\nUK assessments have concluded that it is highly likely that Iran attacked the MV MERCER STREET in international waters off Oman using one or more Unmanned Aerial Vehicles. We believe this attack was deliberate, targeted, and a clear violation of international law by Iran.\nU.S. CONFIDENT IRAN CONDUCTED ATTACK ON ISRAELI-MANAGED TANKER OFF OMAN – U.S. SECRETARY OF STATE BLINKEN\n\nWeekly Changes\nThe EIA reported a total petroleum inventoryDRAW of 9.40 million barrelsfor the week ending July23, 2021 (vs a build of 0.710 million barrels last week).\nYTD Changes\nYear-to-date cumulative changes in inventory for 2021 are DOWN by 94.00 million barrels (vs down 84.60 million last week).\nInventory Levels\nCommercial Inventory levels of Crude Oil (ex-SPR)compared to prior years are have gone from way above historical levels to slightly below historical levels and should continue to draw as long as backwardation in the market persists.\n\nEnergy Technical Overview Via Mooranalytics.com","news_type":1,"symbols_score_info":{"CRUD.UK":0.9,"CLmain":0.9,"BZmain":0.9,"MCLmain":0.9}},"isVote":1,"tweetType":1,"viewCount":1850,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":806919763,"gmtCreate":1627623770152,"gmtModify":1703493587657,"author":{"id":"3578804811809266","authorId":"3578804811809266","name":"cheecheepoo","avatar":"https://static.tigerbbs.com/a73637b834deaa94716a5c569914e7bd","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578804811809266","idStr":"3578804811809266"},"themes":[],"htmlText":"Okay good discount","listText":"Okay good discount","text":"Okay good discount","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/806919763","repostId":"1183715018","repostType":4,"isVote":1,"tweetType":1,"viewCount":1812,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":806919922,"gmtCreate":1627623681366,"gmtModify":1703493586990,"author":{"id":"3578804811809266","authorId":"3578804811809266","name":"cheecheepoo","avatar":"https://static.tigerbbs.com/a73637b834deaa94716a5c569914e7bd","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578804811809266","idStr":"3578804811809266"},"themes":[],"htmlText":"Ohno","listText":"Ohno","text":"Ohno","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/806919922","repostId":"2155357691","repostType":4,"repost":{"id":"2155357691","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1627622112,"share":"https://ttm.financial/m/news/2155357691?lang=&edition=fundamental","pubTime":"2021-07-30 13:15","market":"hk","language":"en","title":"HK, China stocks resume slump on regulatory concerns, COVID jump","url":"https://stock-news.laohu8.com/highlight/detail?id=2155357691","media":"Reuters","summary":"SHANGHAI, July 30 (Reuters) - Shares in Hong Kong and China resumed their slump on Friday after rebo","content":"<p>SHANGHAI, July 30 (Reuters) - Shares in Hong Kong and China resumed their slump on Friday after rebounding in the previous session, as persistent concerns over regulatory crackdowns outweighed Beijing's attempts to calm markets.</p>\n<p>A resurgence in COVID-19 cases in mainland China also dented investors' risk appetite.</p>\n<p>Hong Kong tech shares slumped again, putting the benchmark Hang Seng index on track for its worst week in 16 months.</p>\n<p>The Hang Seng dropped 2.1% by the midday break, following Thursday's 3.3% rally. Tech giants such as Meituan and Alibaba led Friday's decline.</p>\n<p>For the week, the benchmark is set to fall nearly 6%, its worst weekly performance since March, 2020. Global investors have been dumping shares in Chinese companies after Beijing banned for-profit tutoring on core school subjects, following crackdowns earlier this year on the tech sector.</p>\n<p>The Hang Seng Tech Index plunged 4.2%, extending the weekly fall to over 8%.</p>\n<p>China's blue-chip CSI300 Index fell 1%, after gaining 1.9% on Thursday, while the Shanghai Composite Index</p>\n<p>lost 0.5%, led by consumer and tourism stocks. A new outbreak of COVID-19 cases in Jiangsu province has been linked to inadequately protected airport staff.</p>\n<p>An index tracking Chinese tourism stocks dropped 2.9%. Healthcare stocks on the mainland also fell sharply on worries the sector may be regulators' next target.</p>\n<p>The markets had rebounded on Thursday after China stepped up attempts to calm frayed investor nerves by telling foreign brokerages not to \"overinterpret\" its latest regulatory actions.</p>\n<p>China Securities Regulatory Commission (CSRC) vice chairman Fang Xinghai held a meeting with global investment banks on Wednesday night to shore up confidence, while state media sang in chorus on Thursday in support of China's capital markets.</p>\n<p>\"We don't think the signals from this recent news flow are enough for us to upgrade China to overweight,\" <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> said in a note, citing long-term concerns regarding the future of offshore China equities, and possible restrictions on foreign investment in Chinese companies.</p>\n<p>\"Initial investor feedback indicates they remain concerned, and are looking for more formal guidance and actions to assuage these potential issues.\"</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHK, China stocks resume slump on regulatory concerns, COVID jump\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-07-30 13:15</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>SHANGHAI, July 30 (Reuters) - Shares in Hong Kong and China resumed their slump on Friday after rebounding in the previous session, as persistent concerns over regulatory crackdowns outweighed Beijing's attempts to calm markets.</p>\n<p>A resurgence in COVID-19 cases in mainland China also dented investors' risk appetite.</p>\n<p>Hong Kong tech shares slumped again, putting the benchmark Hang Seng index on track for its worst week in 16 months.</p>\n<p>The Hang Seng dropped 2.1% by the midday break, following Thursday's 3.3% rally. Tech giants such as Meituan and Alibaba led Friday's decline.</p>\n<p>For the week, the benchmark is set to fall nearly 6%, its worst weekly performance since March, 2020. Global investors have been dumping shares in Chinese companies after Beijing banned for-profit tutoring on core school subjects, following crackdowns earlier this year on the tech sector.</p>\n<p>The Hang Seng Tech Index plunged 4.2%, extending the weekly fall to over 8%.</p>\n<p>China's blue-chip CSI300 Index fell 1%, after gaining 1.9% on Thursday, while the Shanghai Composite Index</p>\n<p>lost 0.5%, led by consumer and tourism stocks. A new outbreak of COVID-19 cases in Jiangsu province has been linked to inadequately protected airport staff.</p>\n<p>An index tracking Chinese tourism stocks dropped 2.9%. Healthcare stocks on the mainland also fell sharply on worries the sector may be regulators' next target.</p>\n<p>The markets had rebounded on Thursday after China stepped up attempts to calm frayed investor nerves by telling foreign brokerages not to \"overinterpret\" its latest regulatory actions.</p>\n<p>China Securities Regulatory Commission (CSRC) vice chairman Fang Xinghai held a meeting with global investment banks on Wednesday night to shore up confidence, while state media sang in chorus on Thursday in support of China's capital markets.</p>\n<p>\"We don't think the signals from this recent news flow are enough for us to upgrade China to overweight,\" <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> said in a note, citing long-term concerns regarding the future of offshore China equities, and possible restrictions on foreign investment in Chinese companies.</p>\n<p>\"Initial investor feedback indicates they remain concerned, and are looking for more formal guidance and actions to assuage these potential issues.\"</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"000001.SH":"上证指数","HSI":"恒生指数"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2155357691","content_text":"SHANGHAI, July 30 (Reuters) - Shares in Hong Kong and China resumed their slump on Friday after rebounding in the previous session, as persistent concerns over regulatory crackdowns outweighed Beijing's attempts to calm markets.\nA resurgence in COVID-19 cases in mainland China also dented investors' risk appetite.\nHong Kong tech shares slumped again, putting the benchmark Hang Seng index on track for its worst week in 16 months.\nThe Hang Seng dropped 2.1% by the midday break, following Thursday's 3.3% rally. Tech giants such as Meituan and Alibaba led Friday's decline.\nFor the week, the benchmark is set to fall nearly 6%, its worst weekly performance since March, 2020. Global investors have been dumping shares in Chinese companies after Beijing banned for-profit tutoring on core school subjects, following crackdowns earlier this year on the tech sector.\nThe Hang Seng Tech Index plunged 4.2%, extending the weekly fall to over 8%.\nChina's blue-chip CSI300 Index fell 1%, after gaining 1.9% on Thursday, while the Shanghai Composite Index\nlost 0.5%, led by consumer and tourism stocks. A new outbreak of COVID-19 cases in Jiangsu province has been linked to inadequately protected airport staff.\nAn index tracking Chinese tourism stocks dropped 2.9%. Healthcare stocks on the mainland also fell sharply on worries the sector may be regulators' next target.\nThe markets had rebounded on Thursday after China stepped up attempts to calm frayed investor nerves by telling foreign brokerages not to \"overinterpret\" its latest regulatory actions.\nChina Securities Regulatory Commission (CSRC) vice chairman Fang Xinghai held a meeting with global investment banks on Wednesday night to shore up confidence, while state media sang in chorus on Thursday in support of China's capital markets.\n\"We don't think the signals from this recent news flow are enough for us to upgrade China to overweight,\" Morgan Stanley said in a note, citing long-term concerns regarding the future of offshore China equities, and possible restrictions on foreign investment in Chinese companies.\n\"Initial investor feedback indicates they remain concerned, and are looking for more formal guidance and actions to assuage these potential issues.\"","news_type":1,"symbols_score_info":{"000001.SH":0.9,"HSI":0.9}},"isVote":1,"tweetType":1,"viewCount":1308,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"posts","isTTM":true}