MARKET UPDATE

Some hedge funds may have lost millions on bets on China’s Didi Global

Several hedge funds may have been bruised by bets on Didi Global Inc, filings showed after the shares tumbled since the Chinese ride-hailing company announced plans to withdraw from the New York Stock Exchange.

 

Dollar Weakens Against Yen on New Virus Fears; Rand Hit Hard

The dollar edged lower Wednesday amid growing risk appetite over indications that the Omicron Covid variant has relatively mild symptoms, and thus won’t derail the global economic recovery.

 

BMW secures several million chips per year from INOVA, Global Foundries

BMW signed an agreement with Munich-based microchip maker INOVA Semiconductors and U.S.-based foundry Global Foundries to supply the carmaker with several million semiconductors per year, it announced on Wednesday.

 

Weibo shares close down 7.2% in Hong Kong debut

Chinese social media giant Weibo (NASDAQ:WB) Corp’s shares closed 7.2% below their issue price in Hong Kong on Wednesday, as it became the latest U.S.-listed China stock to seek out a secondary listing closer to home.

 

East Europeans tighten belts for Christmas as inflation bites

Banks in the euro zone increased the pace of lending to companies last month and continued to extend credit to households at a brisk pace, data showed on Friday, in a sign of confidence in the bloc’s recovery.

 

Defensive sectors lift European shares after two-day rally

European stocks inched higher on Wednesday after marking their strongest two-day gain in more than a year, with defensive stocks rising as investors weighed the effectiveness of existing vaccines against the Omicron coronavirus variant.

 

Source: Investing.com

 

 

 

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