Global Economy and Finance Updates

September 14, 2024

International⁤ Finance News

Luo Bingxian’s mainland ⁢company⁢ has been fined 440 ⁣million yuan for Evergrande’s fake accounts, spanning half a year. The Ministry of Finance ⁣has coordinated with⁣ the Hong Kong Accounting ​and ⁤Finance Bureau to investigate‍ Luo Bingxian.

Reuters has praised Xu Jiayin, who has ⁢been transferred to the Shenzhen Detention ‍Center.‍ Meanwhile, Hong Hao has​ predicted that over 400 billion US‍ dollars may‌ flow‍ into the Chinese market, benefiting from the US interest rate cut. This⁢ is​ expected ‌to lead to RMB appreciation, which in turn may benefit Hong Kong stocks.

The M1 ‌balance of⁢ mainland stocks​ fell by 7% in August, marking the largest drop in history.⁢ Midea’s upper limit price ⁤was ​54.8 yuan, a 22% ​discount to A shares.

Adrian Cheng has ‌stated that the new world faces​ the biggest challenge ‌in ‌decades. The Financial Times has‌ reported that people familiar with the company have⁣ expressed concerns about the aggressive strategy, with the CMA worrying about long-term cooperation with 3 UK, ⁤and VOD triggering price ‍increases.

Business and​ Investment‌ News

Hong Kong investment plans to launch start-ups overseas to ​help Hong Kong brands “go overseas”. Cathay Pacific has completed ⁢the repurchase of warrants⁢ for a total consideration of over 1.5 billion.

MTR has been training hundreds of people for Belt and Road countries. ‍JD.com has raised wages for the fourth time this year and will pay ‍20 ​monthly rations a year.

Pizza Hut WOW will increase to more​ than 2 million stores by the end of⁤ the year. The company aims to increase its European and ⁣African ports to cover Hong Kong and mainland supply of biofuels.

Global Market Updates

Boeing has faced a strike by 30,000 people, who are⁤ dissatisfied with the ​salary increase plan. This⁢ has ⁢led to the‌ suspension ‍of 737 MAX production, causing the ​stock ⁢price to fall 2% in⁣ the early stage.

The gold price has broken through ‌the top again,⁢ and the yen has risen to 140.29. OpenAI has launched “o1” with reasoning ability to solve mathematical problems.

The CCL has fallen more than 7% ⁢in nine months, ⁢and over 1 percentage point ⁢over the week, hitting an⁤ 8-year low. Yangming owners have entered the market, paying 29 million in ​full, ​but losing⁤ 40% of‌ the sales.

Real Estate ‍and Property News

A large ​shop in Milan‍ Station​ has moved to ⁢a small shop for 200,000. A 4-bedroom‌ shop outside Percival Street has been pre-leased‌ for 260 million, creating a standard ​unit of the project.

A new high of 60,000 foreigners has come⁢ to Hong⁣ Kong‌ to work,​ with‌ many renting apartments, including a 3-bedroom apartment in Xiaofeng Pavilion.