1) US Senate approves bill, likely to spur more Chinese firms to delist from US stock exchanges
2) China drops the word “peaceful” with reference to reunification with Taiwan
3) Hang Seng Index has worst day since 2015, as Beijing mules passing a new national security law for Hong Kong
4) Facebook starts planning for permanent remote workers
5) Japan state of emergency set to be lifted on Monday
1) US senate approves bill, likely to spur more Chinese firms to delist from US stock exchanges
The bill now goes to the House of Representatives for approval (who can accept it in its current form, suggest amendments to the bill which would then require senate to approve the amended bill, or vote it down). Once the bill is approved by both the House and Senate, it goes to President Trump to sign off.
“A law passed by the U.S. Senate yesterday would bar listings of Chinese and other foreign firms that don’t meet the same accounting standards as American firms; it also bans listings by firms that are controlled by foreign governments.”
2) China drops the word “peaceful” with reference to reunification with Taiwan
“Chinese Premier Li Keqiang left out the word “peaceful” on Friday in referring to Beijing’s desire to “reunify” with Chinese-claimed Taiwan, an apparent policy shift that comes as ties with Taipei continue on a downward spiral…departing from the standard expression Chinese leaders have used for at least four decades when addressing parliament and mentioning Taiwan.”
3) Hang Seng Index has worst day since 2015, as Beijing mules passing a new national security law for Hong Kong
“The very real threat now, is the return of mass protests to the streets of Hong Kong, a downgrade in trade status with the US, and potentially an exit of large companies” from the city, wrote Jeffrey Halley, senior market analyst for Asia Pacific at Oanda, in a research note Friday.”
https://edition.cnn.com/2020/05/21/investing/global-stocks/index.html
4) Facebook Starts Planning for Permanent Remote Workers
“Facebook said on Thursday that it would allow as many as half of the company’s more than 48,000 employees would work from home. Salaries are likely to change to match local costs of living.”
https://www.nytimes.com/2020/05/21/technology/facebook-remote-work-coronavirus.html
5) Japan state of emergency set to be lifted on Monday
“Japan is set to lift the state of emergency in Tokyo, its surrounding regions and the northern island of Hokkaido on Monday”
They got there without lockdowns or mass testing. “No restrictions were placed on residents’ movements, and businesses from restaurants to hairdressers stayed open. No high-tech apps that tracked people’s movements were deployed. The country doesn’t have a centre for disease control. And even as nations were exhorted to “test, test, test”, Japan has tested just 0.2 per cent of its population – one of the lowest rates among developed countries.”
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