{"id":558250,"date":"2021-08-02T04:13:55","date_gmt":"2021-08-02T04:13:55","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/02\/what-the-markets-are-doing-on-2-august-2021\/"},"modified":"2021-08-02T04:13:55","modified_gmt":"2021-08-02T04:13:55","slug":"what-the-markets-are-doing-on-2-august-2021","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/02\/what-the-markets-are-doing-on-2-august-2021\/","title":{"rendered":"What the markets are doing on 2 August 2021"},"content":{"rendered":"

<\/a> Chinese stocks are recovering as investors look past rout<\/strong>: Exchange-traded funds focused on Chinese stocks saw USD 975 mn in net inflows last week \u2014 more than all other emerging nations monitored by Bloomberg combined \u2014 despite a meltdown at the start of the week triggered by regulatory concerns<\/a>, according to Bloomberg<\/a>.<\/p>\n

US tightens China listing rules:<\/strong> US securities regulators will not allow Chinese companies to IPO unless they disclose more information about their legal structures and risk profiles, <\/strong>the Financial Times<\/a> reports. The move comes in response to Beijing\u2019s crackdown on overseas listings<\/a>, which could give the government more power over Chinese private companies. China\u2019s regulator has said<\/a> it wants to talk with its American counterpart to find a compromise.<\/p>\n

But last week\u2019s wobble in Chinese bonds and equities only proves that the <\/strong>country is still key to global financial markets<\/strong>, according to a Financial Times<\/a> opinion column. Despite talk of \u201ceconomic decoupling\u201d from China by successive US administrations, rising FDI inflows to the country and foreign investment in its equity stocks and government bonds indicate that the relationship between US and Chinese finance remains mutually beneficial. Still, there\u2019s plenty of room for retaliation on both sides.<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

<\/use><\/svg><\/p>\n<\/td>\n\n

EGX30 <\/strong><\/p>\n<\/td>\n

\n

10,810<\/p>\n<\/td>\n

\n

+0.6% (YTD: -0.3%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

US<\/strong>D (CBE)<\/strong><\/p>\n<\/td>\n

\n

Buy 15.65<\/p>\n<\/td>\n

\n

Sell 15.74<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD at CIB<\/strong><\/p>\n<\/td>\n

\n

Buy 15.65<\/p>\n<\/td>\n

\n

Sell 15.75<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Interest rates CBE<\/strong><\/p>\n<\/td>\n

\n

8.25% deposit<\/p>\n<\/td>\n

\n

9.25% lending<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Tadawul<\/strong><\/p>\n<\/td>\n

\n

11,067<\/p>\n<\/td>\n

\n

+0.49% (YTD: 27.4%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

ADX<\/strong><\/p>\n<\/td>\n

\n

7,393<\/p>\n<\/td>\n

\n

+1.02% (YTD: 46.5%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

DFM<\/strong><\/p>\n<\/td>\n

\n

2,781<\/p>\n<\/td>\n

\n

+0.6% (YTD: +35.6%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

S&P 500<\/strong><\/p>\n<\/td>\n

\n

4,395<\/p>\n<\/td>\n

\n

-0.5% (YTD: 18.8%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

FTSE 100<\/strong><\/p>\n<\/td>\n

\n

7,032<\/p>\n<\/td>\n

\n

-0.7% (YTD: 7.0%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Brent crude<\/strong><\/p>\n<\/td>\n

\n

USD 74.20<\/p>\n<\/td>\n

\n

-1.5%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n

\n

USD 3.87<\/p>\n<\/td>\n

\n

+1.4%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Gold<\/strong><\/p>\n<\/td>\n

\n

USD 1,813.18<\/p>\n<\/td>\n

\n

-0.2%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

BTC<\/strong><\/p>\n<\/td>\n

\n

USD 39,666<\/p>\n<\/td>\n

\n

-4.9% (as of midnight)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

THE CLOSING BELL-<\/strong><\/p>\n

The EGX30 rose 0.6% at yesterday\u2019s close<\/strong> on turnover of EGP 1.91 bn (34.7% above the 90-day average). Regional investors were net buyers. The index is down 0.3% YTD.<\/p>\n

In the green: <\/strong>Ezz Steel (+6.1%), Rameda (+5.6%) and Ibnsina Pharma (+3.1%).<\/p>\n

In the red: <\/strong>Egyptian Resorts Company (-3.5%), Cleopatra Hospitals (-1.9%) and Speed Medical (-1.8%).<\/p>\n

Asian markets are mixed today<\/strong>, with the Nikkei handily in the green while shares in Shanghai, Seoul\u2019s Kospi and Hong Kong\u2019s Hang Seng index were all in the red at dispatch time. Futures Wall Street will open in the green today, while Bay Street will be in the red at the opening bell.<\/p>\n","protected":false},"excerpt":{"rendered":"

Chinese stocks are recovering as investors look past rout: Exchange-traded funds focused on Chinese stocks saw USD 975 mn in net inflows last week \u2014 more than all other emerging nations monitored by Bloomberg combined \u2014 despite a meltdown at the start of the week triggered by regulatory concerns, according to Bloomberg. US tightens China […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7210],"tags":[116,72,119,182,122],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-558250","post","type-post","status-publish","format-standard","hentry","category-planet-finance","tag-china","tag-enterpriseam","tag-financial-markets","tag-inflation","tag-planet-finance","wpautop","entry"],"acf":{"mongo_id":"bc93d3d4-4924-4a81-a896-a691037d6342","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[558229],"teaser":"","voice_url":""},"yoast_head":"\nWhat the markets are doing on 2 August 2021 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/02\/what-the-markets-are-doing-on-2-august-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What the markets are doing on 2 August 2021\" \/>\n<meta property=\"og:description\" content=\"Chinese stocks are recovering as investors look past rout: Exchange-traded funds focused on Chinese stocks saw USD 975 mn in net inflows last week \u2014 more than all other emerging nations monitored by Bloomberg combined \u2014 despite a meltdown at the start of the week triggered by regulatory concerns, according to Bloomberg. 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The trigger? The rally was fueled by hopes that authorities will introduce more significant support\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/2\/507.JPG?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":614618,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/05\/chinas-fresh-promises-to-rejuvenate-its-faltering-stock-market-may-not-be-enough\/","url_meta":{"origin":558250,"position":3},"title":"China\u2019s fresh promises to rejuvenate its faltering stock market may not be enough","author":"enterpriseam admin","date":"5 February 2024","format":false,"excerpt":"Investors seem to be giving up on China\u2019s stock market: Over 40% of investors surveyed at a Goldman Sachs conference in Hong Kong last week think that Chinese equities are \u201cuninvestable,\u201d despite authorities vowing \u201cforceful\u201d measures to stabilize its falling stock market, the Financial Times reported yesterday. The measures: The\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/2\/254.JPG?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":640583,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/08\/28\/retailer-temus-parent-company-sees-stocks-crash-in-latest-warning-over-struggling-chinese-economy\/","url_meta":{"origin":558250,"position":4},"title":"Retailer Temu\u2019s parent company sees stocks crash in latest warning over struggling Chinese economy","author":"enterpriseam admin","date":"28 August 2024","format":false,"excerpt":"The company\u2019s market value dropped by some USD 55 bn in one day following the release of its 2Q results","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2406.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":563959,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/29\/em-stocks-give-up-2021-gains-on-china-fears\/","url_meta":{"origin":558250,"position":5},"title":"EM stocks give up 2021 gains on China fears","author":"enterpriseam admin","date":"29 July 2021","format":false,"excerpt":"EM stocks give up 2021 gains on China fears: The MSCI Emerging Markets Index fell 2.4% on Monday, erasing 2021 gains, as a sell-off in Chinese stocks gathered pace, Bloomberg reports. Chinese shares, which make up a third of the index\u2019s weighting, sold off this week after rumors that US\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/558250","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=558250"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/558250\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/558229"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=558250"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=558250"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=558250"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=558250"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=558250"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}