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Tencent Music Will Debut on Hong Kong Exchange Next Week

After China-based Tencent Music will carry out a secondary listing by introduction, it’s set to debut on The Stock Exchange of Hong Kong on Wednesday the 21st of September.

It’s stock on the New York Stock Exchange (NYSE) will remain its primary listing, according to the company. The initial public offering of its stock would mark the latest edition in the saga of U.S.-listed Chinese stocks opting towards secondary listings.

MACROECONOMIC DATA ANALYSIS

Chinese property is on the rise, with shares rallying on Thursday amid growing hopes that cities across the Asian nation will implement more relaxation measures to aid the revitalization of the stricken sector. The Hang Seng Mainland Properties Index in Hong Kong bumped over 5% in early hours, while the CSI Real Estate benchmark escalated more than 4%.

Violent protests have broken out in Haiti’s capital Port-au-Prince as residents are enraged at the fact that the nation is likely to hike fuel prices. Gun fire, road blocks and more have left residents sheltered in their homes, amid recurrent gang violence and inflation surging to one-decade peaks.

CURRENCIES

The U.S. dollar holds on to its most recent gains and trades higher on Thursday’s early hours as traders increased their bets that the Federal Reserve will go ahead and hike interest rates next week, while the Japanese yen continues to diminish. The dollar index, which tracks the greenback against other currencies, traded 0.17% higher to 109.560.

GOLD

The price of gold steeply drops below the $1,700 level on Thursday morning, extending recent fallbacks as investors are wary of the Federal Reserve’s likely-aggressive tone with regards to taming inflation and interest rate hikes. Weighed down by a sturdy USD, the bullion fell 0.61% in value to $1,686 per ounce.

OIL

Oil prices remain solid on the early hours of Thursday’s trading session despite supply constrictions, as market participants are more focused towards the “demand side” of the equation, according to Clifford Bennet, chief economist at ACY Securities. Brent futures inched 0.03% higher to $94.14 a barrel, while WTI crude oil futures edged 0.18% higher to $88.63 per barrel.

INDICES

USA: S&P500 +0.34%, Dow Jones Industrial Average +0.10%, Nasdaq Composite +0.84%

Europe: FTSE 100 +0.56%, DAX +0.40%, CAC 40 +0.24%

Asia: Nikkei 225 +0.21%, Hang Seng +0.66%, CSI 300 -0.94%, Nifty 50 -0.48%

Newest

Apple Shall Manufacture iPhone 14 in India

Apple announced on Monday that it will manufacture the iPhone 14 in India, as the tech giant shifts some of its manufacturing away from the dominant China.

At an event earlier this month, the tech tycoon unveiled the newest iPhone 14, emphasizing safety improvements over exciting new technical features—with the exception of a new watch designed with adventure in mind.

"The new iPhone 14 lineup introduces groundbreaking new technologies and important safety capabilities. We're excited to be manufacturing iPhone 14 in India," Apple (NASDAQ:AAPL) said in a statement.

Instacart Cuts Staff & Hiring Before IPO

Grocery delivery app Instacart has been letting go of staff, slowing hiring and slashing other expenses as it heads toward a public listing, as reported by The Information reported on Saturday.

Instacart disclosed in May that it had secretly filed with the U.S. Securities and Exchange Commission to go public, a short time after cutting its valuation by 40% to just under $24 billion due to market instability.

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