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Market news: Ukrainian President Zelensky and US President Trump talked about replacing Ukraines special envoy to the United States.KWG Group (01813.HK): In June, the pre-sales of the company and its joint ventures and associates amounted to RMB 653 million, a year-on-year decrease of 34%. During the same period, the pre-sold construction area was approximately 21,000 square meters, a year-on-year decrease of 61.7%.Indonesian officials: The agreement will also include the signing of a memorandum of understanding between Indonesias state energy company Pertamina and U.S. oil majors Exxon Mobil (XOM.N) and Chevron (CVX.N).On July 7, Priyanka Sacheva, an analyst at financial institution Phillip Nova, pointed out in a research report that the continued uncertainty surrounding Trumps tariff policy will continue to put pressure on oil prices. She pointed out that oil prices have been under downward pressure because OPEC+ decided to increase crude oil production in August more significantly than expected. At the same time, the market is also worried that Trump recently announced that he may impose high tariffs of 10% to 70% on some imported goods from August 1. Sacheva said that in the second half of the year, the tariff issue is still one of the dominant topics in the market, and the only factor currently supporting oil prices is the weakening of the US dollar.Russian Ministry of Defense: Russian troops occupy Dachne in eastern Ukraine.

Foxconn's Founder Asked China to Remove COVID Restrictions - WSJ

Charlie Brooks

Dec 09, 2022 11:57

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The Wall Street Journal said that Terry Gou, the creator of Apple supplier Foxconn, had warned China that its zero-COVID policy would jeopardize its position as the second-largest economy in the global supply chain.


The appeal, sent by Gou in a letter more than a month ago, played a crucial role in pushing China's government to immediately reopen the economy and drop its zero-tolerance COVID-19 policy, according to a report published on Thursday citing sources with knowledge of the issue.


The office of Gou issued a statement "vehemently disputing" the article's claims. The largest iPhone producer, Foxconn, declined to comment, and China's State Council Information Office could not be reached immediately for comment.


Gou left Foxconn in 2019 and no longer maintains an official position inside the company, although he remains influential.


The Zhengzhou factory of the Taiwanese corporation, which had a month-long disruption in November, has eased its "closed-loop" management restrictions on Thursday.


The Zhengzhou factory has been struggling with significant COVID restrictions, which have led to worker dissatisfaction over working conditions and a 11.4% year-over-year decline in November revenue.


Some Wall Street analysts reduced their iPhone shipping forecasts for the crucial Christmas quarter as a result of disruptions at the iPhone's primary production facility.


The newspaper reported that Chinese health officials and government advisors jumped on Gou's letter to make the point that the government needed to accelerate its efforts to eliminate its stringent COVID-19 regulations.

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