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Hong Kong-listed stocks related to new consumption concepts retreated during the session, with Laopu Gold (06181.HK) and Pop Mart (09992.HK) both falling 5.5%, Bruker (00325.HK) falling over 4%, and Mao Geping (01318.HK), Weilong (09985.HK), Giant Biogene (02367.HK), Mixue Group (02097.HK), Gu Ming (01364.HK), and Chabaidao (02555.HK) all falling over 2%.On December 30th, the overnight SHIBOR was 1.2470%, down 0.10 basis points; the 7-day SHIBOR was 1.5890%, up 3.10 basis points; the 14-day SHIBOR was 1.8690%, up 21.90 basis points; the 1-month SHIBOR was 1.5850%, up 0.10 basis points; and the 3-month SHIBOR was 1.6000%, unchanged from the previous trading day.On December 30th, it was learned at the National Civil Affairs Work Conference that the Ministry of Civil Affairs, in conjunction with relevant departments, will establish a minimum living allowance standard filing system to prevent phenomena such as "raising standards while reducing the number of people" and "determining the number of people based on monetary compensation." An official from the Ministry of Civil Affairs stated that the next step will be to optimize and upgrade the dynamic monitoring information platform, improve the closed-loop operation mechanism for assistance and support, develop service-oriented social assistance according to local conditions, promptly identify people in need, and accurately implement assistance and support; consolidate and deepen the comprehensive governance of social assistance, and continue to address problems such as "omissions" and "incorrect coverage" to ensure fair and just implementation.On December 30th, Delphi Group stated during an institutional survey that its solid-state batteries have achieved continuous trial production. Furthermore, after debugging, the cells produced during the trial production process have demonstrated good consistency. Regarding downstream applications of its solid-state batteries, in addition to the new energy vehicle market, the company is also developing application scenarios in a wider range of fields, including humanoid robots, two-wheeled electric vehicles, energy storage, and consumer electronics.Hong Kong-listed oil and gas stocks rallied during the session, with CNOOC (00883.HK) and Shanghai Petrochemical (00338.HK) both rising nearly 4%, PetroChina (00857.HK) up nearly 3%, and Sinopec (00386.HK) and others following suit.

Bitcoin dips below $20,000

Skylar Shaw

Aug 29, 2022 15:02

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On Saturday, Bitcoin fell below $20,000, extending a decline that has seen it decline by roughly 60% from its year-high.


The largest and most well-known cryptocurrency in the world, Bitcoin, was last down 1.5% on Saturday at $19,946, down $298 from its previous closing.


It has decreased by 58.7% from the year's peak of $48,234 on March 28.


The ethereum blockchain network's native currency, ether, dropped 2.76% to $1,467.2, losing $41.60 from its previous closing.


The decline in Bitcoin comes after a difficult day for the currency on Friday, when all three benchmarks on Wall Street ended the day more than 3% down.


Risk asset prices declined as Federal Reserve Chairman Jerome Powell warned against anticipating a quick stop to the Fed's rate hikes. Some investors have predicted more losses for stocks as a result of the Fed's interest rate decisions.


According to Edward Moya, senior market analyst at OANDA, "Bitcoin dipped below 20,000 as investors predict a weekend full of gloom from Jackson Hole to pull down sentiment."


Many traders are preparing for a poor open on Sunday night because European and Asian central bankers are expected to be far more gloomy than Fed Chair Powell, he said.


Midway through July, Bitcoin last fell below $20,000.