Chinese markets soared, and the yuan rose with about a trillion dollars added to the value of Chinese stocks in week as rumors and news reports fed hopes for twin relief in U.S.-China tension and China’s tough COVID rules. | Reuters
“The optimism right now is basically a removal of certain types of uncertainties that have been lingering … but the outlook is really mixed,” said Peiqian Liu, China economist at NatWest Markets in Singapore.
Hedge fund manager Lei Ming said the re-opening rumour is just the trigger for a rebound in an oversold market.“The main reason for the market jump is that selling pressure had been exhausted after the market fell so much.” Bloomberg News also reported on Friday, citing unnamed people familiar with the matter, that China was working towards relaxing rules that penalise airlines for carrying COVID-positive passengers.
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DOJ deports 21 more Chinese working in illegal POGO outletsIn a statement, the DOJ said the Bureau of Immigration conducted another deportation operation involving a group of 21 Chinese nationals who left the country aboard a Philippine Air Lines flight to Wuhan, China. READ:
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Twitter to start layoffs on Friday —internal email“In an effort to place Twitter on a healthy path, we will go through the difficult process of reducing our global workforce on Friday,” said the email, seen by Reuters.
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