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According to Hong Kong Stock Exchange filings, Tencent Holdings (00700.HK) repurchased 1.1 million shares on June 5, at a cost of HK$500.4 million.June 5th - The State Council announced the appointment and removal of state personnel. Liu Sushe was appointed Vice Minister of Culture and Tourism; Hong Zongming was appointed Vice Minister of Veterans Affairs; and Ding Xiangqun (female) was appointed Director of the State Financial Supervision and Administration Bureau. Liu Sushe was removed from his position as Vice Chairman of the National Development and Reform Commission; Chen Jiachang was removed from his position as Vice Minister of Science and Technology; Ma Feixiong was removed from his position as Vice Minister of Veterans Affairs; Zhang Yuzhuo was removed from his position as Director of the State-owned Assets Supervision and Administration Commission of the State Council; and Han Dong was removed from his position as Vice Director of the State Administration of Radio and Television.On June 5th, the General Office of the State Council issued guiding opinions on strengthening supervision, preventing risks, and promoting the high-quality development of private equity investment funds. The opinions state that the handling of risks associated with private equity fund managers shall be organized and implemented by the provincial-level or municipal-level governments where the managers are registered, in conjunction with the securities regulatory agency of the State Council and other relevant departments. The provincial-level or municipal-level governments where the managers are registered shall promptly ascertain the situation, formulate risk mitigation and disposal plans in accordance with market-oriented and rule-of-law principles, and carry out work such as asset recovery, asset verification, and distribution and liquidation, avoiding the expectation that risk mitigation and disposal will rely on public resources. Private equity fund risks shall be mitigated and disposed of under relevant local risk disposal mechanisms. The securities regulatory agency of the State Council and its branches shall actively cooperate with local governments in carrying out risk mitigation and disposal work, and properly handle handling and punishment. If multiple private equity fund managers controlled by the same actual controller across regions experience risks, the provincial-level or municipal-level governments responsible for leading the effort shall, in principle, be determined in the following order: the registered location of the headquarters enterprise, the place where the core enterprise pays its income tax, and the place where the personal income tax of the senior management personnel pays its income tax. Private equity funds shall not be used to illegally raise debt to resolve debt or dispose of problematic enterprises, to prevent the formation of new risk points.June 5th - On June 5th, XPeng issued a statement refuting rumors: Regarding the online reports of an XPeng car catching fire in Pingdu, Shandong, our company immediately investigated and analyzed vehicle data from the scene and found no information related to thermal runaway.Both WTI and Brent crude oil prices fell by nearly $1 in the short term, currently trading at $93.59/barrel and $93.36/barrel respectively.

Two Trades to Watch: DAX, GBP/USD

Jimmy Khan

May 07, 2022 10:43


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The DAX is falling as industrial output declines.


After a slaughter on Wall Street that saw the Nasdaq finsh 5% down, European equities have begun in the red, extending losses from the previous day.


Fears of inflation, stagflation, and recession are weighing on the market as we approach the weekend. The DAX is expected to shed 1.4 percent this week, marking the fifth consecutive week of losses.


In March, German industrial output decreased -3.9 percent on a month-over-month basis, down from 0.2 percent in February and considerably below the -1 percent drop forecast. The negative report comes on the heels of a sharp drop in German manufacturing orders in March. The data represents the economic effect of the Russian conflict on Germany and the Eurozone as a whole.


Germany does not have any additional statistics due today. Sentiment and the US NFP announcement will affect European indexes.