South African Stocks Drop From Early 2018 High as Naspers Slips
John Viljoen, Bloomberg News
(Bloomberg)
South Africaâs main stock index fell 0.5% as of 9:46 a.m. in Johannesburg, retreating from the highest close since January 2018, as fresh U.S.-China tensions and protracted wrangling over a stimulus package in Washington weighed on sentiment toward riskier assets.
The benchmark gauge remains on track to advance for the third week in four after climbing beyond the 60,000 point level for the first time since August 2018 on Thursday.
The U.S. is preparing to blacklist Semiconductor Manufacturing International Corp. and dozens of other Chinese companies, Reuters reported, citing people familiar with the matter. Meanwhile, a bipartisan U.S. stimulus deal âappears to be close at hand,â Senate Majority Leader Mitch McConnell said, but will probably require work over the weekend to get through Congress.
Wilbur Ross: Chinese Chipmaker Giant SMIC, Others on Blacklist 1490wosh.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from 1490wosh.com Daily Mail and Mail on Sunday newspapers.
SMIC, dozens of other firms may be blacklisted as Trump seals tough-on-China legacy
Photo: Bloomberg Premium
The United States is set to add dozens of Chinese companies, including the country’s top chipmaker SMIC, to a trade blacklist on Friday, two people familiar with the matter told Reuters on Thursday.
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US to blacklist dozens of Chinese firms including SMIC, say sources financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.
In an address to the Asia Society on Friday, China’s State Councillor Wang Yi, who is also the country’s foreign minister, noted the expanding list of U.S. sanctions and called on Washington to stop its “arbitrary suppression” of Chinese companies.
The Commerce Department released a list of 77 companies and affiliates to the so-called entity list, including 60 Chinese companies. Reuters reported earlier the department was adding about 80 companies, most of them Chinese.
China’s foreign ministry said that if true, the blacklisting would be evidence of U.S. oppression of Chinese companies and that Beijing would continue to take “necessary measures” to protect their rights.”