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June 29th - Given the Reserve Bank of Australias recent warning that official interest rates could rise further, issues concerning the Middle East conflict and oil prices remain crucial. Matthew Hassan, Head of Macro Forecasting for Australia at Westpac, expects the normalization of oil and gas supplies to be a "slow and tortuous process." He noted that concerns about persistently high domestic inflation will force the RBA to raise interest rates further in August. Hassan added that this decision will be difficult for the committee given the already weak economic growth.Invesco survey: 61% of central banks believe that the level of US debt has a negative impact on the long-term status of the dollar as a reserve asset.June 29 - On June 28 local time, Venezuelan Acting President Rodriguez stated that power services in La Guaira state, the hardest-hit area by the earthquake, have been restored to 75%, water supply to 68%, and road traffic to approximately 90%, with road and vehicle traffic essentially back to normal.Ruwei Technology announced on the Hong Kong Stock Exchange that it plans to issue 28.08 million H shares in its Hong Kong listing at a price of HK$21.66 per share, with trading expected to commence on July 8.June 29 - According to Kintetsu Railway Company, a train derailed at Kyoto Station at approximately 5:13 AM local time on June 29. Railway authorities are currently inspecting the line, and service on both directions of the Kintetsu Kyoto Line between Kyoto Station and Kamitoribaguchi Station is suspended. No injuries have been reported so far.

More Than 80 Companies, Including China's JD.com, Added in U.S. SEC List, At Risk of Delisting

Haiden Holmes

May 05, 2022 10:16

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The Securities and Exchange Commission of the United States added over 80 corporations to its list of organizations facing probable expulsion from American exchanges, including China's JD.com, Pinduoduo (NASDAQ:PDD) Inc, Bilibili (NASDAQ:BILI) Inc, and NetEase (NASDAQ:NTES) Inc.


The SEC enlarged the list on Wednesday, including Chinese businesses listed in the United States, as part of a preliminary lineup under a 2020 law known as The Holding Foreign Companies Accountable Act.


The act, which was signed into law by then-President Donald Trump, seeks to bar foreign-jurisdiction corporations from US stock exchanges if they fail to adhere to American auditing standards for three consecutive years.


Among the other significant Chinese companies added to the SEC's list were JinkoSolar Holding Co Ltd (NYSE:JKS), NIO Inc, and China Petroleum (NYSE:SNP) & Chemical Corp.


According to Reuters, Chinese regulators last month requested that some of the country's US-listed companies, including Alibaba (NYSE:BABA), Baidu (NASDAQ:BIDU), and JD.com, submit additional audit disclosures.


China also proposed revising confidentiality rules for offshore listings in early April, removing a legal impediment to Sino-US audit cooperation and putting the onus on Chinese firms to protect state secrets.


The development comes after a US watchdog stated in March that it was continuing to engage with Chinese regulators on access to their auditors' records, but it remained unclear whether the Chinese government would allow the access necessary by a new US listing law.