{"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":"<p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a> <strong>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 <a href=\"https:\/\/www.cnbc.com\/2021\/07\/27\/chinese-tech-stocks-extend-losses-ways-to-play-the-sell-off.html\">triggered by regulatory concerns<\/a>, according to <a href=\"https:\/\/www.bloombergquint.com\/global-economics\/china-s-elite-role-in-emerging-markets-has-traders-creeping-back\">Bloomberg<\/a>.<\/p>\n<p><strong>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>, <\/strong><a href=\"https:\/\/on.ft.com\/3fku32R\">the Financial Times<\/a> reports. The move comes in response to Beijing\u2019s <a href=\"https:\/\/www.reuters.com\/world\/china\/china-widens-clampdown-overseas-listings-with-pre-ipo-review-firms-with-large-2021-07-10\/\">crackdown on overseas listings<\/a>, which could give the government more power over Chinese private companies. China\u2019s regulator <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-08-01\/china-calls-for-more-communication-with-u-s-on-overseas-ipos?srnd=premium-middle-east&sref=mmeFTDW1\">has said<\/a> it wants to talk with its American counterpart to find a compromise.<\/p>\n<p><strong>But last week\u2019s wobble in Chinese bonds and equities only proves that the <\/strong><strong>country is still key to global financial markets<\/strong>, according to a <a href=\"https:\/\/www.ft.com\/content\/47f00eb0-f8c0-4738-a2a8-0dcd0c65f0b6\">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<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table table-striped markets-table'>\n<tbody>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>10,810<\/p>\n<\/td>\n<td>\n<p>+0.6% (YTD: -0.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>US<\/strong><strong>D (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.65<\/p>\n<\/td>\n<td>\n<p>Sell 15.74<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.65<\/p>\n<\/td>\n<td>\n<p>Sell 15.75<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>8.25% deposit<\/p>\n<\/td>\n<td>\n<p>9.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>11,067<\/p>\n<\/td>\n<td>\n<p>+0.49% (YTD: 27.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>7,393<\/p>\n<\/td>\n<td>\n<p>+1.02% (YTD: 46.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>2,781<\/p>\n<\/td>\n<td>\n<p>+0.6% (YTD: +35.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,395<\/p>\n<\/td>\n<td>\n<p>-0.5% (YTD: 18.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,032<\/p>\n<\/td>\n<td>\n<p>-0.7% (YTD: 7.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 74.20<\/p>\n<\/td>\n<td>\n<p>-1.5%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 3.87<\/p>\n<\/td>\n<td>\n<p>+1.4%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,813.18<\/p>\n<\/td>\n<td>\n<p>-0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 39,666<\/p>\n<\/td>\n<td>\n<p>-4.9% (as of midnight)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p><strong>THE CLOSING BELL-<\/strong><\/p>\n<p><strong>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<p><strong>In the green: <\/strong>Ezz Steel (+6.1%), Rameda (+5.6%) and Ibnsina Pharma (+3.1%).<\/p>\n<p><strong>In the red: <\/strong>Egyptian Resorts Company (-3.5%), Cleopatra Hospitals (-1.9%) and Speed Medical (-1.8%).<\/p>\n<p><strong>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":"<p>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 [&hellip;]<\/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":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>What 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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Morgan Stanley Investment Management last week said it is pulling money out of the US stock market and putting it into equities in developing economies. \u201cEvery decade, there is a new leader in the market. In the 2010s, it\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/484.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":660119,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/02\/06\/trumps-tariffs-havent-scared-investors-away-from-chinese-stocks-just-yet\/","url_meta":{"origin":558250,"position":2},"title":"Trump\u2019s tariffs haven\u2019t scared investors away from Chinese stocks just yet","author":"enterpriseam admin","date":"6 February 2025","format":false,"excerpt":"Trump\u2019s latest trade move, while a clear escalation, was not as aggressive as markets had anticipated","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/2\/536.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":544675,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/15\/chinese-shares-suffer-biggest-sell-off-since-08-on-covid-ukraine-fears\/","url_meta":{"origin":558250,"position":3},"title":"Chinese shares suffer biggest sell-off since \u201808 on covid, Ukraine fears","author":"enterpriseam admin","date":"15 March 2022","format":false,"excerpt":"Chinese stocks see biggest sell-off since the 2008 recession: Hong Kong-listed Chinese stocks had their worst day since the global financial crisis, as Beijing\u2019s continued ties with Russia, regulatory concerns, and new covid-19 lockdowns sparked a panic selloff, Bloomberg reports. The Hang Seng China Enterprises Index closed down 7.2% in\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","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":[]},{"id":544762,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/20\/us-stocks-have-best-week-since-november-2020\/","url_meta":{"origin":558250,"position":4},"title":"US stocks have best week since November 2020","author":"enterpriseam admin","date":"20 March 2022","format":false,"excerpt":"US stocks had their best week since November 2020 last week following US-China talks on Ukraine and as the oil price rally slowed. Tech shares, which have endured one of their worst first quarters in years, saw large gains, with the Nasdaq rising more than 8% during the week. The\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","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":[]},{"id":553501,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/06\/omicron-spread-isnt-stopping-ksa-from-raising-oil-prices\/","url_meta":{"origin":558250,"position":5},"title":"Omicron spread isn\u2019t stopping KSA from raising oil prices","author":"enterpriseam admin","date":"6 December 2021","format":false,"excerpt":"Saudi Arabia raises January oil prices for all crude grades in Asia and the US, even as Omicron continues to spread, reports Bloomberg. This follows a decision by OPEC+ on Thursday to boost output in January despite concerns that the spread of the new variant could hit energy demand. The\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","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}]}}