Domestic Economic Trends:
- The Shanghai Index fell below 2,800 points, hitting a new low since April 2020, with major declines in sectors including hotels and tourism, food consumption, etc.
- Brokerage stocks staged a rebound during the session, with Xiangcai Securities hitting the daily limit, followed by gains in Huaxin Shares, Guosheng Financial Holdings, Cinda Securities, and Hualin Securities.
- Sichuan Ya'an discovered nearly one million tons of lithium resources, setting the record for the largest scale lepidolite-type single lithium mine in Asia.
International Finance News:
- Oil prices edged up in Asian trading influenced by the severe cold weather in the United States and military actions in the Middle East.
- U.S. crude oil inventories unexpectedly rose by 483,000 barrels last week, which caught the market's attention amidst rising concerns over demand.
- Goldman Sachs CEO David Solomon predicts the U.S. economy will not slow down significantly this year, but inflation may still be a concern.
Corporate Dynamics:
- Country Garden subsidiary Risland Australia sells its Sydney plots, completely exiting the Australian market.
- Longfor Group accelerates the pace of its overseas debt restructuring, appointing Amicorp as its financial advisor.
- Alibaba Health has acquired exclusive marketing audit rights for the medical health category of Ali Mama, with the transaction completed.
Global Market Trends:
- Yesterday, the MSCI Inc. Emerging Markets Index at one point dropped by 2.3%, the biggest intraday decline since August 2 of the previous year, with a cumulative decline of over 6% since the beginning of the year. South Korea and India's stock markets fell more than 2%.
- Pinduoduo-owned cross-border e-commerce platform Temu has ventured into the South African market, marking Temu's 49th country since its launch in September last year.
