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2021-07-08

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Investors say China tech firms to boost data security compliance after Didi probe

2021-07-08

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2021-07-08

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,"images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/149535375","repostId":"2149436483","repostType":4,"repost":{"id":"2149436483","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1625732556,"share":"https://ttm.financial/m/news/2149436483?lang=&edition=full","pubTime":"2021-07-08 16:22","market":"us","language":"en","title":"Investors say China tech firms to boost data security compliance after Didi probe","url":"https://stock-news.laohu8.com/highlight/detail?id=2149436483","media":"Reuters","summary":"SHANGHAI, July 8 (Reuters) - Didi Global Inc fell for the third consecutive session on Wednesday, af","content":"<p>SHANGHAI, July 8 (Reuters) - Didi Global Inc fell for the third consecutive session on Wednesday, after China ordered the app removed from mobile app stores as part of a broader crackdown on China-based companies with overseas listings.</p>\n<p>The Cyberspace Administration of China <a href=\"https://laohu8.com/S/CAC\">$(CAC)$</a> has launched security reviews on Didi and three other internet companies, triggering a broader sell-off in overseas-listed Chinese tech firms.</p>\n<p>Below are some comments from investors and analysts on the outlook for China's tech sector:</p>\n<p>MAX LUO, PORTFOLIO MANAGER, UBS ASSET MANAGEMENT CO:</p>\n<p>\"The market needs to revalue relevant sectors. Under previous years' of barbarian growth, some companies could grow 50% a year. Now, growth rate could come down to 30% under tighter regulations.</p>\n<p>Luo added that China's cybersecurity probe could impact more companies than the anti-monopoly campaign:</p>\n<p>\"Every (tech) company needs to be compliant on data security, whether you're an internet company, or a new energy vehicle company, because you collect data.</p>\n<p>\"If a company is not under probe now, that doesn't mean it will not be investigated later. People are waiting for a precedent. You need to make investment to become compliant, and that will impact growth.\"</p>\n<p>BRIAN BANDSMA, PORTFOLIO MANAGER, VONTOBEL QUALITY GROWTH:</p>\n<p>\"I do think it is a legitimate issue and I don't think it would be unreasonable to expect that Didi will need to make increased investments to assure data security. I also believe that it is likely Didi will face a meaningful fine.</p>\n<p>\"I expect continued scrutiny of business practices.</p>\n<p>\"There has undoubtedly been excesses and limited investment in satisfying regulatory requirements in the past. As investors have limited visibility on whether companies are fully compliant, it is difficult to say where the next potential issue may arise.</p>\n<p>\"Overall, this should lead prudent company managements to increase internal assessment of businesses practices and reduce a willingness to take risks. It also may have the potential to reduce margins and growth potential.\"</p>\n<p>ANDY MAYNARD, MANAGING DIRECTOR AND HEAD OF EQUITIES, CHINA RENAISSANCE:</p>\n<p>\"It's a complete sentiment knock to broad China TMT, no matter where it's listed and trading.</p>\n<p>\"Because it is data protection, there is an element of national security linkages to it ... It's going to be potentially far-reaching and much more widespread than the anti-monopoly campaign, which seemed to be just really hitting China e-commerce.</p>\n<p>\"It's an unknown. How long does this last? You've got to think at least a couple of months before people really absorb the regulatory side of the environment.</p>\n<p>\"But I do feel that the market is starting to realise that this is a short-lived thing. There is no rationale to try to kill these companies off because they're so embedded into the fabric of the Chinese new economy.\"</p>\n<p>KEVIN FRANCIS MARCAIDA, EQUITY RESEARCH LEAD, CHINESEALPHA:</p>\n<p>\"This is just the beginning of these security concerns. We will likely see more crackdowns on companies that rely on storing large data on Chinese users, which may take up to three years before investors begin to regain confidence in these businesses.</p>\n<p>\"In the meantime, these companies will have to adapt to tougher government regulations imposed on them.</p>\n<p>\"Depending on how strict the new CAC regulations are, the new rules could potentially lead large tech companies such as Alibaba and Tencent to fall prey to security concerns, which can affect sentiment on U.S.-listed Chinese equities over the short term.\"</p>\n<p>ELINOR LEUNG, ANALYST, CLSA:</p>\n<p>\"CAC seems to prioritise online transportation platforms in the review, likely because they contain sensitive geographical, personal and route data.</p>\n<p>\"Reviews may extend to newly listed and to-be listed companies, especially on US exchanges which may provide foreign governments access to sensitive information and data.</p>\n<p>\"Online platforms with social network and transaction information could also be under security reviews.</p>\n<p>\"Internet giants with strong technology advantage, such as Alibaba, Tencent, and Baidu would likely face limited impacts, as they already adopt higher security standards and have already participated in multiple government projects.</p>\n<p>\"A sector-wide review is possible but will prioritise those with higher sensitive information.\"</p>\n<p>MING LIAO, FOUNDING PARTNER, PROSPECT AVENUE CAPITAL:</p>\n<p>\"The Didi probe is an epoch-making incident that marks the end of barbarian growth of China's Internet sector.</p>\n<p>\"Over the past 20 years, the Chinese government leaned toward efficiency and growth over fairness, taking a relatively laissez-faire attitude toward tech companies' legal compliance issues.</p>\n<p>\"Companies like Didi are too big to be fixed. No <a href=\"https://laohu8.com/S/AONE\">one</a> knows what happens next. It's not time for bargain hunting for wise investors.</p>\n<p>\"Now, for investors in Chinese tech firms, both in the primary and secondary market, the No. 1 question is: 'is your business legally compliant?' If you have compliance issues, other questions, whether it's about business model or financial performance, become meaningless.\"</p>\n<p>ZHAN KAI, A SHANGHAI-BASED LAWYER:</p>\n<p>\"For Internet companies like Didi, they face not just issues about data security. There are also issues around monopolistic behaviours and labour protection. Risk is only partly priced in.\"</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Investors say China tech firms to boost data security compliance after Didi probe</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nInvestors say China tech firms to boost data security compliance after Didi probe\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-07-08 16:22</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>SHANGHAI, July 8 (Reuters) - Didi Global Inc fell for the third consecutive session on Wednesday, after China ordered the app removed from mobile app stores as part of a broader crackdown on China-based companies with overseas listings.</p>\n<p>The Cyberspace Administration of China <a href=\"https://laohu8.com/S/CAC\">$(CAC)$</a> has launched security reviews on Didi and three other internet companies, triggering a broader sell-off in overseas-listed Chinese tech firms.</p>\n<p>Below are some comments from investors and analysts on the outlook for China's tech sector:</p>\n<p>MAX LUO, PORTFOLIO MANAGER, UBS ASSET MANAGEMENT CO:</p>\n<p>\"The market needs to revalue relevant sectors. Under previous years' of barbarian growth, some companies could grow 50% a year. Now, growth rate could come down to 30% under tighter regulations.</p>\n<p>Luo added that China's cybersecurity probe could impact more companies than the anti-monopoly campaign:</p>\n<p>\"Every (tech) company needs to be compliant on data security, whether you're an internet company, or a new energy vehicle company, because you collect data.</p>\n<p>\"If a company is not under probe now, that doesn't mean it will not be investigated later. People are waiting for a precedent. You need to make investment to become compliant, and that will impact growth.\"</p>\n<p>BRIAN BANDSMA, PORTFOLIO MANAGER, VONTOBEL QUALITY GROWTH:</p>\n<p>\"I do think it is a legitimate issue and I don't think it would be unreasonable to expect that Didi will need to make increased investments to assure data security. I also believe that it is likely Didi will face a meaningful fine.</p>\n<p>\"I expect continued scrutiny of business practices.</p>\n<p>\"There has undoubtedly been excesses and limited investment in satisfying regulatory requirements in the past. As investors have limited visibility on whether companies are fully compliant, it is difficult to say where the next potential issue may arise.</p>\n<p>\"Overall, this should lead prudent company managements to increase internal assessment of businesses practices and reduce a willingness to take risks. It also may have the potential to reduce margins and growth potential.\"</p>\n<p>ANDY MAYNARD, MANAGING DIRECTOR AND HEAD OF EQUITIES, CHINA RENAISSANCE:</p>\n<p>\"It's a complete sentiment knock to broad China TMT, no matter where it's listed and trading.</p>\n<p>\"Because it is data protection, there is an element of national security linkages to it ... It's going to be potentially far-reaching and much more widespread than the anti-monopoly campaign, which seemed to be just really hitting China e-commerce.</p>\n<p>\"It's an unknown. How long does this last? You've got to think at least a couple of months before people really absorb the regulatory side of the environment.</p>\n<p>\"But I do feel that the market is starting to realise that this is a short-lived thing. There is no rationale to try to kill these companies off because they're so embedded into the fabric of the Chinese new economy.\"</p>\n<p>KEVIN FRANCIS MARCAIDA, EQUITY RESEARCH LEAD, CHINESEALPHA:</p>\n<p>\"This is just the beginning of these security concerns. We will likely see more crackdowns on companies that rely on storing large data on Chinese users, which may take up to three years before investors begin to regain confidence in these businesses.</p>\n<p>\"In the meantime, these companies will have to adapt to tougher government regulations imposed on them.</p>\n<p>\"Depending on how strict the new CAC regulations are, the new rules could potentially lead large tech companies such as Alibaba and Tencent to fall prey to security concerns, which can affect sentiment on U.S.-listed Chinese equities over the short term.\"</p>\n<p>ELINOR LEUNG, ANALYST, CLSA:</p>\n<p>\"CAC seems to prioritise online transportation platforms in the review, likely because they contain sensitive geographical, personal and route data.</p>\n<p>\"Reviews may extend to newly listed and to-be listed companies, especially on US exchanges which may provide foreign governments access to sensitive information and data.</p>\n<p>\"Online platforms with social network and transaction information could also be under security reviews.</p>\n<p>\"Internet giants with strong technology advantage, such as Alibaba, Tencent, and Baidu would likely face limited impacts, as they already adopt higher security standards and have already participated in multiple government projects.</p>\n<p>\"A sector-wide review is possible but will prioritise those with higher sensitive information.\"</p>\n<p>MING LIAO, FOUNDING PARTNER, PROSPECT AVENUE CAPITAL:</p>\n<p>\"The Didi probe is an epoch-making incident that marks the end of barbarian growth of China's Internet sector.</p>\n<p>\"Over the past 20 years, the Chinese government leaned toward efficiency and growth over fairness, taking a relatively laissez-faire attitude toward tech companies' legal compliance issues.</p>\n<p>\"Companies like Didi are too big to be fixed. No <a href=\"https://laohu8.com/S/AONE\">one</a> knows what happens next. It's not time for bargain hunting for wise investors.</p>\n<p>\"Now, for investors in Chinese tech firms, both in the primary and secondary market, the No. 1 question is: 'is your business legally compliant?' If you have compliance issues, other questions, whether it's about business model or financial performance, become meaningless.\"</p>\n<p>ZHAN KAI, A SHANGHAI-BASED LAWYER:</p>\n<p>\"For Internet companies like Didi, they face not just issues about data security. There are also issues around monopolistic behaviours and labour protection. Risk is only partly priced in.\"</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CAAS":"中汽系统"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2149436483","content_text":"SHANGHAI, July 8 (Reuters) - Didi Global Inc fell for the third consecutive session on Wednesday, after China ordered the app removed from mobile app stores as part of a broader crackdown on China-based companies with overseas listings.\nThe Cyberspace Administration of China $(CAC)$ has launched security reviews on Didi and three other internet companies, triggering a broader sell-off in overseas-listed Chinese tech firms.\nBelow are some comments from investors and analysts on the outlook for China's tech sector:\nMAX LUO, PORTFOLIO MANAGER, UBS ASSET MANAGEMENT CO:\n\"The market needs to revalue relevant sectors. Under previous years' of barbarian growth, some companies could grow 50% a year. Now, growth rate could come down to 30% under tighter regulations.\nLuo added that China's cybersecurity probe could impact more companies than the anti-monopoly campaign:\n\"Every (tech) company needs to be compliant on data security, whether you're an internet company, or a new energy vehicle company, because you collect data.\n\"If a company is not under probe now, that doesn't mean it will not be investigated later. People are waiting for a precedent. You need to make investment to become compliant, and that will impact growth.\"\nBRIAN BANDSMA, PORTFOLIO MANAGER, VONTOBEL QUALITY GROWTH:\n\"I do think it is a legitimate issue and I don't think it would be unreasonable to expect that Didi will need to make increased investments to assure data security. I also believe that it is likely Didi will face a meaningful fine.\n\"I expect continued scrutiny of business practices.\n\"There has undoubtedly been excesses and limited investment in satisfying regulatory requirements in the past. As investors have limited visibility on whether companies are fully compliant, it is difficult to say where the next potential issue may arise.\n\"Overall, this should lead prudent company managements to increase internal assessment of businesses practices and reduce a willingness to take risks. It also may have the potential to reduce margins and growth potential.\"\nANDY MAYNARD, MANAGING DIRECTOR AND HEAD OF EQUITIES, CHINA RENAISSANCE:\n\"It's a complete sentiment knock to broad China TMT, no matter where it's listed and trading.\n\"Because it is data protection, there is an element of national security linkages to it ... It's going to be potentially far-reaching and much more widespread than the anti-monopoly campaign, which seemed to be just really hitting China e-commerce.\n\"It's an unknown. How long does this last? You've got to think at least a couple of months before people really absorb the regulatory side of the environment.\n\"But I do feel that the market is starting to realise that this is a short-lived thing. There is no rationale to try to kill these companies off because they're so embedded into the fabric of the Chinese new economy.\"\nKEVIN FRANCIS MARCAIDA, EQUITY RESEARCH LEAD, CHINESEALPHA:\n\"This is just the beginning of these security concerns. We will likely see more crackdowns on companies that rely on storing large data on Chinese users, which may take up to three years before investors begin to regain confidence in these businesses.\n\"In the meantime, these companies will have to adapt to tougher government regulations imposed on them.\n\"Depending on how strict the new CAC regulations are, the new rules could potentially lead large tech companies such as Alibaba and Tencent to fall prey to security concerns, which can affect sentiment on U.S.-listed Chinese equities over the short term.\"\nELINOR LEUNG, ANALYST, CLSA:\n\"CAC seems to prioritise online transportation platforms in the review, likely because they contain sensitive geographical, personal and route data.\n\"Reviews may extend to newly listed and to-be listed companies, especially on US exchanges which may provide foreign governments access to sensitive information and data.\n\"Online platforms with social network and transaction information could also be under security reviews.\n\"Internet giants with strong technology advantage, such as Alibaba, Tencent, and Baidu would likely face limited impacts, as they already adopt higher security standards and have already participated in multiple government projects.\n\"A sector-wide review is possible but will prioritise those with higher sensitive information.\"\nMING LIAO, FOUNDING PARTNER, PROSPECT AVENUE CAPITAL:\n\"The Didi probe is an epoch-making incident that marks the end of barbarian growth of China's Internet sector.\n\"Over the past 20 years, the Chinese government leaned toward efficiency and growth over fairness, taking a relatively laissez-faire attitude toward tech companies' legal compliance issues.\n\"Companies like Didi are too big to be fixed. No one knows what happens next. It's not time for bargain hunting for wise investors.\n\"Now, for investors in Chinese tech firms, both in the primary and secondary market, the No. 1 question is: 'is your business legally compliant?' If you have compliance issues, other questions, whether it's about business model or financial performance, become meaningless.\"\nZHAN KAI, A SHANGHAI-BASED LAWYER:\n\"For Internet companies like Didi, they face not just issues about data security. There are also issues around monopolistic behaviours and labour protection. Risk is only partly priced in.\"","news_type":1,"symbols_score_info":{"CAAS":0.9}},"isVote":1,"tweetType":1,"viewCount":617,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":149535075,"gmtCreate":1625734699897,"gmtModify":1633937886037,"author":{"id":"3576630348318622","authorId":"3576630348318622","name":"AlexO","avatar":"https://static.tigerbbs.com/b55c037b9b1cc3abf50280ef2553f142","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576630348318622","authorIdStr":"3576630348318622"},"themes":[],"htmlText":"Great","listText":"Great","text":"Great","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/149535075","repostId":"2149345974","repostType":4,"repost":{"id":"2149345974","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1625732699,"share":"https://ttm.financial/m/news/2149345974?lang=&edition=full","pubTime":"2021-07-08 16:24","market":"us","language":"en","title":"Tesla sold 33,155 China-made vehicles in June -CPCA","url":"https://stock-news.laohu8.com/highlight/detail?id=2149345974","media":"Reuters","summary":"BEIJING, July 8 (Reuters) - U.S. electric vehicle maker Tesla Inc sold 33,155 China-made vehicles, i","content":"<p>BEIJING, July 8 (Reuters) - U.S. electric vehicle maker Tesla Inc sold 33,155 China-made vehicles, including those for export, in June, China Passenger Car Association (CPCA) said on Thursday.</p>\n<p>Tesla, which is making Model 3 sedans and Model Y sport-utility vehicles in Shanghai, sold 28,138 China-made cars in China and exported 5,017 cars in June.</p>\n<p>In May, Tesla sold 33,463 China-made cars.</p>\n<p>On Thursday, Tesla launched Model Y cars with a standard driving range in China, lowering the starting price for the vehicle to 276,000 yuan ($42,588) in the world's biggest auto market.</p>\n<p>BYD&nbsp;sold 40,532 so-called new energy vehicles, which include battery electric and plug-in hybrid vehicles, last month in China. General Motors Co's venture with SAIC Motor sold 30,479 such cars.</p>\n<p>CPCA also said China sold 1.6 million passenger cars in June, down 5.3% from a year earlier.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla sold 33,155 China-made vehicles in June -CPCA</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla sold 33,155 China-made vehicles in June -CPCA\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-07-08 16:24</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>BEIJING, July 8 (Reuters) - U.S. electric vehicle maker Tesla Inc sold 33,155 China-made vehicles, including those for export, in June, China Passenger Car Association (CPCA) said on Thursday.</p>\n<p>Tesla, which is making Model 3 sedans and Model Y sport-utility vehicles in Shanghai, sold 28,138 China-made cars in China and exported 5,017 cars in June.</p>\n<p>In May, Tesla sold 33,463 China-made cars.</p>\n<p>On Thursday, Tesla launched Model Y cars with a standard driving range in China, lowering the starting price for the vehicle to 276,000 yuan ($42,588) in the world's biggest auto market.</p>\n<p>BYD&nbsp;sold 40,532 so-called new energy vehicles, which include battery electric and plug-in hybrid vehicles, last month in China. General Motors Co's venture with SAIC Motor sold 30,479 such cars.</p>\n<p>CPCA also said China sold 1.6 million passenger cars in June, down 5.3% from a year earlier.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","GM":"通用汽车","01211":"比亚迪股份"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2149345974","content_text":"BEIJING, July 8 (Reuters) - U.S. electric vehicle maker Tesla Inc sold 33,155 China-made vehicles, including those for export, in June, China Passenger Car Association (CPCA) said on Thursday.\nTesla, which is making Model 3 sedans and Model Y sport-utility vehicles in Shanghai, sold 28,138 China-made cars in China and exported 5,017 cars in June.\nIn May, Tesla sold 33,463 China-made cars.\nOn Thursday, Tesla launched Model Y cars with a standard driving range in China, lowering the starting price for the vehicle to 276,000 yuan ($42,588) in the world's biggest auto market.\nBYD sold 40,532 so-called new energy vehicles, which include battery electric and plug-in hybrid vehicles, last month in China. General Motors Co's venture with SAIC Motor sold 30,479 such cars.\nCPCA also said China sold 1.6 million passenger cars in June, down 5.3% from a year earlier.","news_type":1,"symbols_score_info":{"01211":0.9,"GM":0.9,"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":275,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":149538827,"gmtCreate":1625734573669,"gmtModify":1633937887329,"author":{"id":"3576630348318622","authorId":"3576630348318622","name":"AlexO","avatar":"https://static.tigerbbs.com/b55c037b9b1cc3abf50280ef2553f142","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576630348318622","authorIdStr":"3576630348318622"},"themes":[],"htmlText":"Yes","listText":"Yes","text":"Yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/149538827","repostId":"2149345143","repostType":4,"repost":{"id":"2149345143","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1625733209,"share":"https://ttm.financial/m/news/2149345143?lang=&edition=full","pubTime":"2021-07-08 16:33","market":"us","language":"en","title":"Oil prices continue to fall as OPEC+ uncertainty weighs","url":"https://stock-news.laohu8.com/highlight/detail?id=2149345143","media":"Reuters","summary":"* Saudi-UAE still at impasse, Russia steps in to rescue OPEC+ deal\n* U.S. 2021 crude output to fall ","content":"<p>* Saudi-UAE still at impasse, Russia steps in to rescue OPEC+ deal</p>\n<p>* U.S. 2021 crude output to fall less than previous forecast-EIA</p>\n<p>* Coming up: Weekly EIA inventory data at 1500 GMT</p>\n<p>LONDON, July 8 (Reuters) - Oil prices fell for a third day on Thursday amid uncertainty over supply after the collapse this week of talks among major producers which could potentially cause the current output agreement to be abandoned.</p>\n<p>Brent crude oil futures was down $1.11, or 1.5%, to $72.32 a barrel at 0821 GMT, while U.S. West Texas Intermediate futures were down $1.19, or 1.6%, at $71.01 a barrel. Both contracts were at their lowest in about three weeks.</p>\n<p>However, the six-month spread is still in backwardation with the front-month price higher than later months.</p>\n<p>\"This suggests that no immediate flooding of the market is anticipated,\" PVM analysts said in a note.</p>\n<p>Brent prices have fallen about $5 a barrel, or 6.4%, since Monday's close after talks between the Organization of the Petroleum Exporting Countries and its allies, including Russia, known as OPEC+, fell apart.</p>\n<p>Saudi Arabia refused demands from the United Arab Emirates to raise its output under the group's supply cut agreement which has restrained supply for more than a year.</p>\n<p>The group is maintaining nearly 6 million barrels per day (bpd) of output cuts and was expected to add to supply, but three days of meetings failed to close divisions between the Saudis and the Emiratis.</p>\n<p>Russia is trying to mediate between Saudi Arabia and the UAE to help strike a deal to raise oil output, three OPEC+ sources said on Wednesday.</p>\n<p>Concerns over the pandemic also weighed on prices, with Japan, the world's fourth-largest oil user, set to declare a state of emergency for the Tokyo area and South Korea reporting its highest ever daily COVID-19 cases.</p>\n<p>Prices found some support from a large drop in oil inventories in the United States.</p>\n<p>Oil stockpiles in the world's biggest oil user fell by 8 million barrels for the week ended July 2, according to two market sources, citing American Petroleum Institute figures.</p>\n<p>Government inventory data is due on Thursday, pushed back a day following the U.S. Fourth of July holiday on Monday.</p>\n<p>U.S. oil production declines this year are expected to lessen, with the Energy Information Administration <a href=\"https://laohu8.com/S/EIA\">$(EIA)$</a> saying on Wednesday that output will be 11.10 million bpd in 2021, higher than a previous forecast.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Oil prices continue to fall as OPEC+ uncertainty weighs</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOil prices continue to fall as OPEC+ uncertainty weighs\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-07-08 16:33</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>* Saudi-UAE still at impasse, Russia steps in to rescue OPEC+ deal</p>\n<p>* U.S. 2021 crude output to fall less than previous forecast-EIA</p>\n<p>* Coming up: Weekly EIA inventory data at 1500 GMT</p>\n<p>LONDON, July 8 (Reuters) - Oil prices fell for a third day on Thursday amid uncertainty over supply after the collapse this week of talks among major producers which could potentially cause the current output agreement to be abandoned.</p>\n<p>Brent crude oil futures was down $1.11, or 1.5%, to $72.32 a barrel at 0821 GMT, while U.S. West Texas Intermediate futures were down $1.19, or 1.6%, at $71.01 a barrel. Both contracts were at their lowest in about three weeks.</p>\n<p>However, the six-month spread is still in backwardation with the front-month price higher than later months.</p>\n<p>\"This suggests that no immediate flooding of the market is anticipated,\" PVM analysts said in a note.</p>\n<p>Brent prices have fallen about $5 a barrel, or 6.4%, since Monday's close after talks between the Organization of the Petroleum Exporting Countries and its allies, including Russia, known as OPEC+, fell apart.</p>\n<p>Saudi Arabia refused demands from the United Arab Emirates to raise its output under the group's supply cut agreement which has restrained supply for more than a year.</p>\n<p>The group is maintaining nearly 6 million barrels per day (bpd) of output cuts and was expected to add to supply, but three days of meetings failed to close divisions between the Saudis and the Emiratis.</p>\n<p>Russia is trying to mediate between Saudi Arabia and the UAE to help strike a deal to raise oil output, three OPEC+ sources said on Wednesday.</p>\n<p>Concerns over the pandemic also weighed on prices, with Japan, the world's fourth-largest oil user, set to declare a state of emergency for the Tokyo area and South Korea reporting its highest ever daily COVID-19 cases.</p>\n<p>Prices found some support from a large drop in oil inventories in the United States.</p>\n<p>Oil stockpiles in the world's biggest oil user fell by 8 million barrels for the week ended July 2, according to two market sources, citing American Petroleum Institute figures.</p>\n<p>Government inventory data is due on Thursday, pushed back a day following the U.S. Fourth of July holiday on Monday.</p>\n<p>U.S. oil production declines this year are expected to lessen, with the Energy Information Administration <a href=\"https://laohu8.com/S/EIA\">$(EIA)$</a> saying on Wednesday that output will be 11.10 million bpd in 2021, higher than a previous forecast.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2149345143","content_text":"* Saudi-UAE still at impasse, Russia steps in to rescue OPEC+ deal\n* U.S. 2021 crude output to fall less than previous forecast-EIA\n* Coming up: Weekly EIA inventory data at 1500 GMT\nLONDON, July 8 (Reuters) - Oil prices fell for a third day on Thursday amid uncertainty over supply after the collapse this week of talks among major producers which could potentially cause the current output agreement to be abandoned.\nBrent crude oil futures was down $1.11, or 1.5%, to $72.32 a barrel at 0821 GMT, while U.S. West Texas Intermediate futures were down $1.19, or 1.6%, at $71.01 a barrel. Both contracts were at their lowest in about three weeks.\nHowever, the six-month spread is still in backwardation with the front-month price higher than later months.\n\"This suggests that no immediate flooding of the market is anticipated,\" PVM analysts said in a note.\nBrent prices have fallen about $5 a barrel, or 6.4%, since Monday's close after talks between the Organization of the Petroleum Exporting Countries and its allies, including Russia, known as OPEC+, fell apart.\nSaudi Arabia refused demands from the United Arab Emirates to raise its output under the group's supply cut agreement which has restrained supply for more than a year.\nThe group is maintaining nearly 6 million barrels per day (bpd) of output cuts and was expected to add to supply, but three days of meetings failed to close divisions between the Saudis and the Emiratis.\nRussia is trying to mediate between Saudi Arabia and the UAE to help strike a deal to raise oil output, three OPEC+ sources said on Wednesday.\nConcerns over the pandemic also weighed on prices, with Japan, the world's fourth-largest oil user, set to declare a state of emergency for the Tokyo area and South Korea reporting its highest ever daily COVID-19 cases.\nPrices found some support from a large drop in oil inventories in the United States.\nOil stockpiles in the world's biggest oil user fell by 8 million barrels for the week ended July 2, according to two market sources, citing American Petroleum Institute figures.\nGovernment inventory data is due on Thursday, pushed back a day following the U.S. Fourth of July holiday on Monday.\nU.S. oil production declines this year are expected to lessen, with the Energy Information Administration $(EIA)$ saying on Wednesday that output will be 11.10 million bpd in 2021, higher than a previous forecast.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":596,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":149535375,"gmtCreate":1625734710797,"gmtModify":1633937885814,"author":{"id":"3576630348318622","authorId":"3576630348318622","name":"AlexO","avatar":"https://static.tigerbbs.com/b55c037b9b1cc3abf50280ef2553f142","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576630348318622","idStr":"3576630348318622"},"themes":[],"htmlText":"Great&nbsp;","listText":"Great&nbsp;","text":"Great","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/149535375","repostId":"2149436483","repostType":4,"repost":{"id":"2149436483","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1625732556,"share":"https://ttm.financial/m/news/2149436483?lang=&edition=full","pubTime":"2021-07-08 16:22","market":"us","language":"en","title":"Investors say China tech firms to boost data security compliance after Didi probe","url":"https://stock-news.laohu8.com/highlight/detail?id=2149436483","media":"Reuters","summary":"SHANGHAI, July 8 (Reuters) - Didi Global Inc fell for the third consecutive session on Wednesday, af","content":"<p>SHANGHAI, July 8 (Reuters) - Didi Global Inc fell for the third consecutive session on Wednesday, after China ordered the app removed from mobile app stores as part of a broader crackdown on China-based companies with overseas listings.</p>\n<p>The Cyberspace Administration of China <a href=\"https://laohu8.com/S/CAC\">$(CAC)$</a> has launched security reviews on Didi and three other internet companies, triggering a broader sell-off in overseas-listed Chinese tech firms.</p>\n<p>Below are some comments from investors and analysts on the outlook for China's tech sector:</p>\n<p>MAX LUO, PORTFOLIO MANAGER, UBS ASSET MANAGEMENT CO:</p>\n<p>\"The market needs to revalue relevant sectors. Under previous years' of barbarian growth, some companies could grow 50% a year. Now, growth rate could come down to 30% under tighter regulations.</p>\n<p>Luo added that China's cybersecurity probe could impact more companies than the anti-monopoly campaign:</p>\n<p>\"Every (tech) company needs to be compliant on data security, whether you're an internet company, or a new energy vehicle company, because you collect data.</p>\n<p>\"If a company is not under probe now, that doesn't mean it will not be investigated later. People are waiting for a precedent. You need to make investment to become compliant, and that will impact growth.\"</p>\n<p>BRIAN BANDSMA, PORTFOLIO MANAGER, VONTOBEL QUALITY GROWTH:</p>\n<p>\"I do think it is a legitimate issue and I don't think it would be unreasonable to expect that Didi will need to make increased investments to assure data security. I also believe that it is likely Didi will face a meaningful fine.</p>\n<p>\"I expect continued scrutiny of business practices.</p>\n<p>\"There has undoubtedly been excesses and limited investment in satisfying regulatory requirements in the past. As investors have limited visibility on whether companies are fully compliant, it is difficult to say where the next potential issue may arise.</p>\n<p>\"Overall, this should lead prudent company managements to increase internal assessment of businesses practices and reduce a willingness to take risks. It also may have the potential to reduce margins and growth potential.\"</p>\n<p>ANDY MAYNARD, MANAGING DIRECTOR AND HEAD OF EQUITIES, CHINA RENAISSANCE:</p>\n<p>\"It's a complete sentiment knock to broad China TMT, no matter where it's listed and trading.</p>\n<p>\"Because it is data protection, there is an element of national security linkages to it ... It's going to be potentially far-reaching and much more widespread than the anti-monopoly campaign, which seemed to be just really hitting China e-commerce.</p>\n<p>\"It's an unknown. How long does this last? You've got to think at least a couple of months before people really absorb the regulatory side of the environment.</p>\n<p>\"But I do feel that the market is starting to realise that this is a short-lived thing. There is no rationale to try to kill these companies off because they're so embedded into the fabric of the Chinese new economy.\"</p>\n<p>KEVIN FRANCIS MARCAIDA, EQUITY RESEARCH LEAD, CHINESEALPHA:</p>\n<p>\"This is just the beginning of these security concerns. We will likely see more crackdowns on companies that rely on storing large data on Chinese users, which may take up to three years before investors begin to regain confidence in these businesses.</p>\n<p>\"In the meantime, these companies will have to adapt to tougher government regulations imposed on them.</p>\n<p>\"Depending on how strict the new CAC regulations are, the new rules could potentially lead large tech companies such as Alibaba and Tencent to fall prey to security concerns, which can affect sentiment on U.S.-listed Chinese equities over the short term.\"</p>\n<p>ELINOR LEUNG, ANALYST, CLSA:</p>\n<p>\"CAC seems to prioritise online transportation platforms in the review, likely because they contain sensitive geographical, personal and route data.</p>\n<p>\"Reviews may extend to newly listed and to-be listed companies, especially on US exchanges which may provide foreign governments access to sensitive information and data.</p>\n<p>\"Online platforms with social network and transaction information could also be under security reviews.</p>\n<p>\"Internet giants with strong technology advantage, such as Alibaba, Tencent, and Baidu would likely face limited impacts, as they already adopt higher security standards and have already participated in multiple government projects.</p>\n<p>\"A sector-wide review is possible but will prioritise those with higher sensitive information.\"</p>\n<p>MING LIAO, FOUNDING PARTNER, PROSPECT AVENUE CAPITAL:</p>\n<p>\"The Didi probe is an epoch-making incident that marks the end of barbarian growth of China's Internet sector.</p>\n<p>\"Over the past 20 years, the Chinese government leaned toward efficiency and growth over fairness, taking a relatively laissez-faire attitude toward tech companies' legal compliance issues.</p>\n<p>\"Companies like Didi are too big to be fixed. No <a href=\"https://laohu8.com/S/AONE\">one</a> knows what happens next. It's not time for bargain hunting for wise investors.</p>\n<p>\"Now, for investors in Chinese tech firms, both in the primary and secondary market, the No. 1 question is: 'is your business legally compliant?' If you have compliance issues, other questions, whether it's about business model or financial performance, become meaningless.\"</p>\n<p>ZHAN KAI, A SHANGHAI-BASED LAWYER:</p>\n<p>\"For Internet companies like Didi, they face not just issues about data security. There are also issues around monopolistic behaviours and labour protection. Risk is only partly priced in.\"</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Investors say China tech firms to boost data security compliance after Didi probe</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nInvestors say China tech firms to boost data security compliance after Didi probe\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-07-08 16:22</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>SHANGHAI, July 8 (Reuters) - Didi Global Inc fell for the third consecutive session on Wednesday, after China ordered the app removed from mobile app stores as part of a broader crackdown on China-based companies with overseas listings.</p>\n<p>The Cyberspace Administration of China <a href=\"https://laohu8.com/S/CAC\">$(CAC)$</a> has launched security reviews on Didi and three other internet companies, triggering a broader sell-off in overseas-listed Chinese tech firms.</p>\n<p>Below are some comments from investors and analysts on the outlook for China's tech sector:</p>\n<p>MAX LUO, PORTFOLIO MANAGER, UBS ASSET MANAGEMENT CO:</p>\n<p>\"The market needs to revalue relevant sectors. Under previous years' of barbarian growth, some companies could grow 50% a year. Now, growth rate could come down to 30% under tighter regulations.</p>\n<p>Luo added that China's cybersecurity probe could impact more companies than the anti-monopoly campaign:</p>\n<p>\"Every (tech) company needs to be compliant on data security, whether you're an internet company, or a new energy vehicle company, because you collect data.</p>\n<p>\"If a company is not under probe now, that doesn't mean it will not be investigated later. People are waiting for a precedent. You need to make investment to become compliant, and that will impact growth.\"</p>\n<p>BRIAN BANDSMA, PORTFOLIO MANAGER, VONTOBEL QUALITY GROWTH:</p>\n<p>\"I do think it is a legitimate issue and I don't think it would be unreasonable to expect that Didi will need to make increased investments to assure data security. I also believe that it is likely Didi will face a meaningful fine.</p>\n<p>\"I expect continued scrutiny of business practices.</p>\n<p>\"There has undoubtedly been excesses and limited investment in satisfying regulatory requirements in the past. As investors have limited visibility on whether companies are fully compliant, it is difficult to say where the next potential issue may arise.</p>\n<p>\"Overall, this should lead prudent company managements to increase internal assessment of businesses practices and reduce a willingness to take risks. It also may have the potential to reduce margins and growth potential.\"</p>\n<p>ANDY MAYNARD, MANAGING DIRECTOR AND HEAD OF EQUITIES, CHINA RENAISSANCE:</p>\n<p>\"It's a complete sentiment knock to broad China TMT, no matter where it's listed and trading.</p>\n<p>\"Because it is data protection, there is an element of national security linkages to it ... It's going to be potentially far-reaching and much more widespread than the anti-monopoly campaign, which seemed to be just really hitting China e-commerce.</p>\n<p>\"It's an unknown. How long does this last? You've got to think at least a couple of months before people really absorb the regulatory side of the environment.</p>\n<p>\"But I do feel that the market is starting to realise that this is a short-lived thing. There is no rationale to try to kill these companies off because they're so embedded into the fabric of the Chinese new economy.\"</p>\n<p>KEVIN FRANCIS MARCAIDA, EQUITY RESEARCH LEAD, CHINESEALPHA:</p>\n<p>\"This is just the beginning of these security concerns. We will likely see more crackdowns on companies that rely on storing large data on Chinese users, which may take up to three years before investors begin to regain confidence in these businesses.</p>\n<p>\"In the meantime, these companies will have to adapt to tougher government regulations imposed on them.</p>\n<p>\"Depending on how strict the new CAC regulations are, the new rules could potentially lead large tech companies such as Alibaba and Tencent to fall prey to security concerns, which can affect sentiment on U.S.-listed Chinese equities over the short term.\"</p>\n<p>ELINOR LEUNG, ANALYST, CLSA:</p>\n<p>\"CAC seems to prioritise online transportation platforms in the review, likely because they contain sensitive geographical, personal and route data.</p>\n<p>\"Reviews may extend to newly listed and to-be listed companies, especially on US exchanges which may provide foreign governments access to sensitive information and data.</p>\n<p>\"Online platforms with social network and transaction information could also be under security reviews.</p>\n<p>\"Internet giants with strong technology advantage, such as Alibaba, Tencent, and Baidu would likely face limited impacts, as they already adopt higher security standards and have already participated in multiple government projects.</p>\n<p>\"A sector-wide review is possible but will prioritise those with higher sensitive information.\"</p>\n<p>MING LIAO, FOUNDING PARTNER, PROSPECT AVENUE CAPITAL:</p>\n<p>\"The Didi probe is an epoch-making incident that marks the end of barbarian growth of China's Internet sector.</p>\n<p>\"Over the past 20 years, the Chinese government leaned toward efficiency and growth over fairness, taking a relatively laissez-faire attitude toward tech companies' legal compliance issues.</p>\n<p>\"Companies like Didi are too big to be fixed. No <a href=\"https://laohu8.com/S/AONE\">one</a> knows what happens next. It's not time for bargain hunting for wise investors.</p>\n<p>\"Now, for investors in Chinese tech firms, both in the primary and secondary market, the No. 1 question is: 'is your business legally compliant?' If you have compliance issues, other questions, whether it's about business model or financial performance, become meaningless.\"</p>\n<p>ZHAN KAI, A SHANGHAI-BASED LAWYER:</p>\n<p>\"For Internet companies like Didi, they face not just issues about data security. There are also issues around monopolistic behaviours and labour protection. Risk is only partly priced in.\"</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CAAS":"中汽系统"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2149436483","content_text":"SHANGHAI, July 8 (Reuters) - Didi Global Inc fell for the third consecutive session on Wednesday, after China ordered the app removed from mobile app stores as part of a broader crackdown on China-based companies with overseas listings.\nThe Cyberspace Administration of China $(CAC)$ has launched security reviews on Didi and three other internet companies, triggering a broader sell-off in overseas-listed Chinese tech firms.\nBelow are some comments from investors and analysts on the outlook for China's tech sector:\nMAX LUO, PORTFOLIO MANAGER, UBS ASSET MANAGEMENT CO:\n\"The market needs to revalue relevant sectors. Under previous years' of barbarian growth, some companies could grow 50% a year. Now, growth rate could come down to 30% under tighter regulations.\nLuo added that China's cybersecurity probe could impact more companies than the anti-monopoly campaign:\n\"Every (tech) company needs to be compliant on data security, whether you're an internet company, or a new energy vehicle company, because you collect data.\n\"If a company is not under probe now, that doesn't mean it will not be investigated later. People are waiting for a precedent. You need to make investment to become compliant, and that will impact growth.\"\nBRIAN BANDSMA, PORTFOLIO MANAGER, VONTOBEL QUALITY GROWTH:\n\"I do think it is a legitimate issue and I don't think it would be unreasonable to expect that Didi will need to make increased investments to assure data security. I also believe that it is likely Didi will face a meaningful fine.\n\"I expect continued scrutiny of business practices.\n\"There has undoubtedly been excesses and limited investment in satisfying regulatory requirements in the past. As investors have limited visibility on whether companies are fully compliant, it is difficult to say where the next potential issue may arise.\n\"Overall, this should lead prudent company managements to increase internal assessment of businesses practices and reduce a willingness to take risks. It also may have the potential to reduce margins and growth potential.\"\nANDY MAYNARD, MANAGING DIRECTOR AND HEAD OF EQUITIES, CHINA RENAISSANCE:\n\"It's a complete sentiment knock to broad China TMT, no matter where it's listed and trading.\n\"Because it is data protection, there is an element of national security linkages to it ... It's going to be potentially far-reaching and much more widespread than the anti-monopoly campaign, which seemed to be just really hitting China e-commerce.\n\"It's an unknown. How long does this last? You've got to think at least a couple of months before people really absorb the regulatory side of the environment.\n\"But I do feel that the market is starting to realise that this is a short-lived thing. There is no rationale to try to kill these companies off because they're so embedded into the fabric of the Chinese new economy.\"\nKEVIN FRANCIS MARCAIDA, EQUITY RESEARCH LEAD, CHINESEALPHA:\n\"This is just the beginning of these security concerns. We will likely see more crackdowns on companies that rely on storing large data on Chinese users, which may take up to three years before investors begin to regain confidence in these businesses.\n\"In the meantime, these companies will have to adapt to tougher government regulations imposed on them.\n\"Depending on how strict the new CAC regulations are, the new rules could potentially lead large tech companies such as Alibaba and Tencent to fall prey to security concerns, which can affect sentiment on U.S.-listed Chinese equities over the short term.\"\nELINOR LEUNG, ANALYST, CLSA:\n\"CAC seems to prioritise online transportation platforms in the review, likely because they contain sensitive geographical, personal and route data.\n\"Reviews may extend to newly listed and to-be listed companies, especially on US exchanges which may provide foreign governments access to sensitive information and data.\n\"Online platforms with social network and transaction information could also be under security reviews.\n\"Internet giants with strong technology advantage, such as Alibaba, Tencent, and Baidu would likely face limited impacts, as they already adopt higher security standards and have already participated in multiple government projects.\n\"A sector-wide review is possible but will prioritise those with higher sensitive information.\"\nMING LIAO, FOUNDING PARTNER, PROSPECT AVENUE CAPITAL:\n\"The Didi probe is an epoch-making incident that marks the end of barbarian growth of China's Internet sector.\n\"Over the past 20 years, the Chinese government leaned toward efficiency and growth over fairness, taking a relatively laissez-faire attitude toward tech companies' legal compliance issues.\n\"Companies like Didi are too big to be fixed. No one knows what happens next. It's not time for bargain hunting for wise investors.\n\"Now, for investors in Chinese tech firms, both in the primary and secondary market, the No. 1 question is: 'is your business legally compliant?' If you have compliance issues, other questions, whether it's about business model or financial performance, become meaningless.\"\nZHAN KAI, A SHANGHAI-BASED LAWYER:\n\"For Internet companies like Didi, they face not just issues about data security. There are also issues around monopolistic behaviours and labour protection. Risk is only partly priced in.\"","news_type":1,"symbols_score_info":{"CAAS":0.9}},"isVote":1,"tweetType":1,"viewCount":617,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":149535075,"gmtCreate":1625734699897,"gmtModify":1633937886037,"author":{"id":"3576630348318622","authorId":"3576630348318622","name":"AlexO","avatar":"https://static.tigerbbs.com/b55c037b9b1cc3abf50280ef2553f142","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576630348318622","idStr":"3576630348318622"},"themes":[],"htmlText":"Great","listText":"Great","text":"Great","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/149535075","repostId":"2149345974","repostType":4,"repost":{"id":"2149345974","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1625732699,"share":"https://ttm.financial/m/news/2149345974?lang=&edition=full","pubTime":"2021-07-08 16:24","market":"us","language":"en","title":"Tesla sold 33,155 China-made vehicles in June -CPCA","url":"https://stock-news.laohu8.com/highlight/detail?id=2149345974","media":"Reuters","summary":"BEIJING, July 8 (Reuters) - U.S. electric vehicle maker Tesla Inc sold 33,155 China-made vehicles, i","content":"<p>BEIJING, July 8 (Reuters) - U.S. electric vehicle maker Tesla Inc sold 33,155 China-made vehicles, including those for export, in June, China Passenger Car Association (CPCA) said on Thursday.</p>\n<p>Tesla, which is making Model 3 sedans and Model Y sport-utility vehicles in Shanghai, sold 28,138 China-made cars in China and exported 5,017 cars in June.</p>\n<p>In May, Tesla sold 33,463 China-made cars.</p>\n<p>On Thursday, Tesla launched Model Y cars with a standard driving range in China, lowering the starting price for the vehicle to 276,000 yuan ($42,588) in the world's biggest auto market.</p>\n<p>BYD&nbsp;sold 40,532 so-called new energy vehicles, which include battery electric and plug-in hybrid vehicles, last month in China. General Motors Co's venture with SAIC Motor sold 30,479 such cars.</p>\n<p>CPCA also said China sold 1.6 million passenger cars in June, down 5.3% from a year earlier.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla sold 33,155 China-made vehicles in June -CPCA</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla sold 33,155 China-made vehicles in June -CPCA\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-07-08 16:24</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>BEIJING, July 8 (Reuters) - U.S. electric vehicle maker Tesla Inc sold 33,155 China-made vehicles, including those for export, in June, China Passenger Car Association (CPCA) said on Thursday.</p>\n<p>Tesla, which is making Model 3 sedans and Model Y sport-utility vehicles in Shanghai, sold 28,138 China-made cars in China and exported 5,017 cars in June.</p>\n<p>In May, Tesla sold 33,463 China-made cars.</p>\n<p>On Thursday, Tesla launched Model Y cars with a standard driving range in China, lowering the starting price for the vehicle to 276,000 yuan ($42,588) in the world's biggest auto market.</p>\n<p>BYD&nbsp;sold 40,532 so-called new energy vehicles, which include battery electric and plug-in hybrid vehicles, last month in China. General Motors Co's venture with SAIC Motor sold 30,479 such cars.</p>\n<p>CPCA also said China sold 1.6 million passenger cars in June, down 5.3% from a year earlier.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","GM":"通用汽车","01211":"比亚迪股份"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2149345974","content_text":"BEIJING, July 8 (Reuters) - U.S. electric vehicle maker Tesla Inc sold 33,155 China-made vehicles, including those for export, in June, China Passenger Car Association (CPCA) said on Thursday.\nTesla, which is making Model 3 sedans and Model Y sport-utility vehicles in Shanghai, sold 28,138 China-made cars in China and exported 5,017 cars in June.\nIn May, Tesla sold 33,463 China-made cars.\nOn Thursday, Tesla launched Model Y cars with a standard driving range in China, lowering the starting price for the vehicle to 276,000 yuan ($42,588) in the world's biggest auto market.\nBYD sold 40,532 so-called new energy vehicles, which include battery electric and plug-in hybrid vehicles, last month in China. General Motors Co's venture with SAIC Motor sold 30,479 such cars.\nCPCA also said China sold 1.6 million passenger cars in June, down 5.3% from a year earlier.","news_type":1,"symbols_score_info":{"01211":0.9,"GM":0.9,"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":275,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":149538827,"gmtCreate":1625734573669,"gmtModify":1633937887329,"author":{"id":"3576630348318622","authorId":"3576630348318622","name":"AlexO","avatar":"https://static.tigerbbs.com/b55c037b9b1cc3abf50280ef2553f142","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576630348318622","idStr":"3576630348318622"},"themes":[],"htmlText":"Yes","listText":"Yes","text":"Yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/149538827","repostId":"2149345143","repostType":4,"repost":{"id":"2149345143","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1625733209,"share":"https://ttm.financial/m/news/2149345143?lang=&edition=full","pubTime":"2021-07-08 16:33","market":"us","language":"en","title":"Oil prices continue to fall as OPEC+ uncertainty weighs","url":"https://stock-news.laohu8.com/highlight/detail?id=2149345143","media":"Reuters","summary":"* Saudi-UAE still at impasse, Russia steps in to rescue OPEC+ deal\n* U.S. 2021 crude output to fall ","content":"<p>* Saudi-UAE still at impasse, Russia steps in to rescue OPEC+ deal</p>\n<p>* U.S. 2021 crude output to fall less than previous forecast-EIA</p>\n<p>* Coming up: Weekly EIA inventory data at 1500 GMT</p>\n<p>LONDON, July 8 (Reuters) - Oil prices fell for a third day on Thursday amid uncertainty over supply after the collapse this week of talks among major producers which could potentially cause the current output agreement to be abandoned.</p>\n<p>Brent crude oil futures was down $1.11, or 1.5%, to $72.32 a barrel at 0821 GMT, while U.S. West Texas Intermediate futures were down $1.19, or 1.6%, at $71.01 a barrel. Both contracts were at their lowest in about three weeks.</p>\n<p>However, the six-month spread is still in backwardation with the front-month price higher than later months.</p>\n<p>\"This suggests that no immediate flooding of the market is anticipated,\" PVM analysts said in a note.</p>\n<p>Brent prices have fallen about $5 a barrel, or 6.4%, since Monday's close after talks between the Organization of the Petroleum Exporting Countries and its allies, including Russia, known as OPEC+, fell apart.</p>\n<p>Saudi Arabia refused demands from the United Arab Emirates to raise its output under the group's supply cut agreement which has restrained supply for more than a year.</p>\n<p>The group is maintaining nearly 6 million barrels per day (bpd) of output cuts and was expected to add to supply, but three days of meetings failed to close divisions between the Saudis and the Emiratis.</p>\n<p>Russia is trying to mediate between Saudi Arabia and the UAE to help strike a deal to raise oil output, three OPEC+ sources said on Wednesday.</p>\n<p>Concerns over the pandemic also weighed on prices, with Japan, the world's fourth-largest oil user, set to declare a state of emergency for the Tokyo area and South Korea reporting its highest ever daily COVID-19 cases.</p>\n<p>Prices found some support from a large drop in oil inventories in the United States.</p>\n<p>Oil stockpiles in the world's biggest oil user fell by 8 million barrels for the week ended July 2, according to two market sources, citing American Petroleum Institute figures.</p>\n<p>Government inventory data is due on Thursday, pushed back a day following the U.S. Fourth of July holiday on Monday.</p>\n<p>U.S. oil production declines this year are expected to lessen, with the Energy Information Administration <a href=\"https://laohu8.com/S/EIA\">$(EIA)$</a> saying on Wednesday that output will be 11.10 million bpd in 2021, higher than a previous forecast.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Oil prices continue to fall as OPEC+ uncertainty weighs</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOil prices continue to fall as OPEC+ uncertainty weighs\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-07-08 16:33</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>* Saudi-UAE still at impasse, Russia steps in to rescue OPEC+ deal</p>\n<p>* U.S. 2021 crude output to fall less than previous forecast-EIA</p>\n<p>* Coming up: Weekly EIA inventory data at 1500 GMT</p>\n<p>LONDON, July 8 (Reuters) - Oil prices fell for a third day on Thursday amid uncertainty over supply after the collapse this week of talks among major producers which could potentially cause the current output agreement to be abandoned.</p>\n<p>Brent crude oil futures was down $1.11, or 1.5%, to $72.32 a barrel at 0821 GMT, while U.S. West Texas Intermediate futures were down $1.19, or 1.6%, at $71.01 a barrel. Both contracts were at their lowest in about three weeks.</p>\n<p>However, the six-month spread is still in backwardation with the front-month price higher than later months.</p>\n<p>\"This suggests that no immediate flooding of the market is anticipated,\" PVM analysts said in a note.</p>\n<p>Brent prices have fallen about $5 a barrel, or 6.4%, since Monday's close after talks between the Organization of the Petroleum Exporting Countries and its allies, including Russia, known as OPEC+, fell apart.</p>\n<p>Saudi Arabia refused demands from the United Arab Emirates to raise its output under the group's supply cut agreement which has restrained supply for more than a year.</p>\n<p>The group is maintaining nearly 6 million barrels per day (bpd) of output cuts and was expected to add to supply, but three days of meetings failed to close divisions between the Saudis and the Emiratis.</p>\n<p>Russia is trying to mediate between Saudi Arabia and the UAE to help strike a deal to raise oil output, three OPEC+ sources said on Wednesday.</p>\n<p>Concerns over the pandemic also weighed on prices, with Japan, the world's fourth-largest oil user, set to declare a state of emergency for the Tokyo area and South Korea reporting its highest ever daily COVID-19 cases.</p>\n<p>Prices found some support from a large drop in oil inventories in the United States.</p>\n<p>Oil stockpiles in the world's biggest oil user fell by 8 million barrels for the week ended July 2, according to two market sources, citing American Petroleum Institute figures.</p>\n<p>Government inventory data is due on Thursday, pushed back a day following the U.S. Fourth of July holiday on Monday.</p>\n<p>U.S. oil production declines this year are expected to lessen, with the Energy Information Administration <a href=\"https://laohu8.com/S/EIA\">$(EIA)$</a> saying on Wednesday that output will be 11.10 million bpd in 2021, higher than a previous forecast.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2149345143","content_text":"* Saudi-UAE still at impasse, Russia steps in to rescue OPEC+ deal\n* U.S. 2021 crude output to fall less than previous forecast-EIA\n* Coming up: Weekly EIA inventory data at 1500 GMT\nLONDON, July 8 (Reuters) - Oil prices fell for a third day on Thursday amid uncertainty over supply after the collapse this week of talks among major producers which could potentially cause the current output agreement to be abandoned.\nBrent crude oil futures was down $1.11, or 1.5%, to $72.32 a barrel at 0821 GMT, while U.S. West Texas Intermediate futures were down $1.19, or 1.6%, at $71.01 a barrel. Both contracts were at their lowest in about three weeks.\nHowever, the six-month spread is still in backwardation with the front-month price higher than later months.\n\"This suggests that no immediate flooding of the market is anticipated,\" PVM analysts said in a note.\nBrent prices have fallen about $5 a barrel, or 6.4%, since Monday's close after talks between the Organization of the Petroleum Exporting Countries and its allies, including Russia, known as OPEC+, fell apart.\nSaudi Arabia refused demands from the United Arab Emirates to raise its output under the group's supply cut agreement which has restrained supply for more than a year.\nThe group is maintaining nearly 6 million barrels per day (bpd) of output cuts and was expected to add to supply, but three days of meetings failed to close divisions between the Saudis and the Emiratis.\nRussia is trying to mediate between Saudi Arabia and the UAE to help strike a deal to raise oil output, three OPEC+ sources said on Wednesday.\nConcerns over the pandemic also weighed on prices, with Japan, the world's fourth-largest oil user, set to declare a state of emergency for the Tokyo area and South Korea reporting its highest ever daily COVID-19 cases.\nPrices found some support from a large drop in oil inventories in the United States.\nOil stockpiles in the world's biggest oil user fell by 8 million barrels for the week ended July 2, according to two market sources, citing American Petroleum Institute figures.\nGovernment inventory data is due on Thursday, pushed back a day following the U.S. Fourth of July holiday on Monday.\nU.S. oil production declines this year are expected to lessen, with the Energy Information Administration $(EIA)$ saying on Wednesday that output will be 11.10 million bpd in 2021, higher than a previous forecast.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":596,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}