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Business and Market Discussion / View from mainland China

2021-11-29

Business and Market Discussion / View from mainland China

2021-11-29
 Global equities and oil prices tumbled by the most in more than a year on Friday on mounting concerns over the new coronavirus variant, named by the World Health Organisation as Omicron. The WHO has designated the new highly mutated strain of Covid a "variant of concern," saying it may spread more quickly than other forms.

Concern that the new variant could slow global economic growth sent oil prices on both sides of the Atlantic down more than 10%. US WTI crude tumbled 13% to $68.15 per barrel, while the international benchmark Brent crude oil retreated 12% to $72.72. They were the biggest falls since April 2020.

It’s being reported that mainland regulators have asked ride-hailing giant Didi Global to delist its shares trading in the US because of a possible leak of sensitive data. The proposals under consideration are thought to include a state-directed privatization or a share float in Hong Kong followed by delisting from the US.

On today’s Money Talk, we’re joined by Alex Wong of Ample Capital and Le Xia from BBVA. With a view from Mainland China is Ben Cavender at the China Market Research Group.

Money Talk

A fast moving and topical business and finance show bringing you breaking business and economic news and financial market updates. Presented by former CEO and investment bank global trading head Peter Lewis, with over 30 years' industry experience. Join Peter and his expert guests for analysis and discussion on the day's top business stories live every weekday morning 8 to 8:30 a.m. on RTHK Radio 3. We have a podcast to download after the show and you can also listen through the RTHK Radio 3 website live or later in the day. We welcome your questions, comments and feedback to read out in the show. You can email us at moneytalk@rthk.hk, post on our Facebook page "Money Talk on RTHK Radio 3 " or find us on twitter "MoneytalkRadio3") .
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