China’s economy and markets have been labouring under the double burden of the zero-Covid policy and a slow-motion property crisis set off by official efforts to limit speculation and debt in real estate. China has eased coronavirus quarantine requirements for close contacts and international travellers, in the first marginal relaxation of Xi Jinping’s zero-Covid strategy since the policy was reaffirmed at the Communist party congress last month. China’s central bank will extend a year-end deadline for lenders to cap their ratio of property sector loans, one of the strongest moves yet by Beijing to relieve pressure from the credit crunch roiling China’s real estate sector. Read More...
MarketWatch
Tepper’s Appaloosa dumps Disney, Netflix, Micron
Appaloosa Management LP, run by billionaire David Tepper, dumped its holdings in Walt Disney Co. , Netflix Inc. and Micron Technology Inc. , according to a Securities and Exchange Commission filing late Monday. In the filing, Appaloosa no longer listed shares of Disney or Netflix, which it reported having a 50,000-share stake in each in August, or Micron, which it listed as having 575,000 shares previously. Appaloosa also trimmed holdings in Meta Platforms Inc. , Microsoft Corp. , and Salesforce
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