On phones, we show a "Trade" button at the bottom of the screen. For the best MarketWatch.com experience, please update to a modern browser. As a result, yields there had already risen to levels last seen before the crisis, something bond investors in the rest of the world are only beginning to grapple with. The rise in anti-China sentiment has raised questions in Myanmar business circles and in China, not only over the surge of Chinese investment in recent years but for billions of dollars earmarked for a strategic neighbour on Beijing's "Belt and Road" infrastructure plan. Even after foreign tourists begin trickling back, those hotels will continue losing money for some time, he said.“Most hotels in key tourist destinations, such as Phuket and Samui, have been hit hardest, with some 80% of those hotels remaining closed since the first lockdown last year,” Marisa Sukosol Nunbhakdi, president of the Thai Hotel Association, told Bloomberg Television on Tuesday. In fact Ewing at Mediolanum is eyeing some bargains in the months ahead.“Somewhere along the second-half of this year going into next year it’ll be prudent for investors to start considering moving to higher-quality names rather than cyclical recovery,” he said.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. (Bloomberg) -- Follow Bloomberg on LINE messenger for all the business news and analysis you need.Thailand is finalizing a rescue plan for tourism-related businesses near collapse from the pandemic that would improve their access to credit from banks wary of further bad loans.The Finance Ministry, Bank of Thailand and commercial banks are working on a plan allowing cash-poor companies to temporarily park their assets with lenders in exchange for credit, and reclaim them within a specified period. “The dilemma for portfolio managers running a balanced mandate is that actually the de-rating we’ve seen in growth stocks has put them at a much more attractive level.”Ewing’s funds began offloading a handful of tech stocks for cyclical names from the third quarter, just as rising expectations for an economic re-opening pushed yields higher in the world’s biggest bond market.As the U.S. yield curve steepened last month, $1.5 trillion of value was wiped off tech shares, while assets deemed less sensitive to duration risk like value stocks -- banks, oil drillers and commodity producers -- surged.The Nasdaq 100 jumped nearly 2% on Thursday morning in New York, as 10-year Treasury yields traded little changed around 1.5%.Quant PerspectiveFrom the perspective of quants who dissect equities by their factors, there are a few ways to explain the last month’s rotation.Technology companies are typically dubbed growth stocks thanks to their strong expected profit expansion, often far into the future. Gold slid 0.2% to $1,772 an ounce. On Friday, the yield on 10-year U.S. bonds jumped to 1.61%, nearing the highest level in more than a year.Alternative HedgeHolding Chinese debt is an alluring proposition for money managers looking for fresh hedges to counterbalance to their riskier stock holdings, a bedrock of the ubiquitous 60/40 portfolio. But since it’s only very loosely correlated with other bond markets, it makes for a nifty hedge, the thinking goes, especially when the rest of the world’s biggest bond markets are getting clobbered in tandem.As a sign of just how insulated the market is, the correlation between one gauge of China’s debt and a broader Bloomberg Barclays global aggregate held close to zero during the rout two weeks ago. Please note: If your game is limited to a custom set of ticker symbols, you will only be able to trade those companies. (Looking at you, Warren Buffett. Between them, Shell and BP move more than 20 million barrels of oil and refined products a day, much more than the volumes they pump out of the ground.Yet trading has always been kept a closely guarded secret, with executives typically only making mentions of the units’ performance with general platitudes.In the second quarter of last year, when supermajors’ balance sheets were savaged by the impact of the coronavirus on oil prices, their trading units saved them from posting quarterly losses. So the jump in BNB’s price might reflect speculation that Binance, already one of the world’s biggest cryptocurrency exchanges by trading volume, will occupy a dominant role in the future of fast-growing digital-asset markets. Showbiz Opinion; Machine Gun Kelly & Megan Fox Share Giant Red Flags on Valentine’s Day The players overall game rank is continuously updated while the game is in progress. Use the expansive collection of news & research tools across MarketWatch to help you decide. Drillers that have shown signs of straying from the script and boosting production have been punished by investors.Publicly traded explorers that are remaining disciplined on output are helping to keep crude prices aloft, said Michael Tran, managing director for global energy strategy research at RBC Capital Markets. Adani Green Energy Ltd., after rising over 500% last year, has climbed 10% so far. WHAT IS A BITCOIN ETF, AND WHY DOES IT MATTER? Zetsche stepped down from Daimler the following year.There may be less strategic rationale for the tie-up to continue. UPDATE 1-White House says it's holding onto AstraZeneca COVID-19 shots for Americans, Treasury Selloff Sinks Tech Shares; Dollar Gains: Markets Wrap, UPDATE 1-Ford Motor nominates two younger Ford family members for board of directors, UPDATE 1-France approves J&J's Janssen COVID-19 vaccine, U.S. oil & gas rig count falls for first time since November - Baker Hughes, Hedge-Fund Short Covering Seen as Big Driver of Nasdaq Rally, Renault to Sell $1.4 Billion Daimler Stake, Maintain Partnership, Stock market news live updates: Dow reaches fresh record high, tech stocks slide as Treasury yields climb, Tesla in talks with India's Tata Power for EV charging infrastructure -report, "Chinese business, Out!" Shell took advantage of wild price swings and a market situation that allowed it to make money by storing oil to sell later for a profit.The company’s earnings from oil trading in 2020 beat the highest ever net income at Vitol Group, the world’s largest independent trading house, which made a record $2.3 billion in 2019. That’s about 70% of Ant’s revenue for the year.Valuation HitAfter Ant’s IPO suspension, the central bank directed the Hangzhou-based firm to turn itself into a financial holding company, subjecting it to capital restrictions, the need for fresh licenses and ownership scrutiny. Click on the Game Feed tab from any page. The first blows fell on Jack Ma when Ant’s $35 billion initial public offering was torpedoed at the last minute, followed by an antitrust probe into Alibaba Group Holding Ltd.While Pony Ma doesn’t have the kind of high-profile globally that Jack Ma does, he is considered one of China’s most accomplished entrepreneurs within the country. China imported more than 12 million metric tons of crude from Malaysia in 2020 and 2019, around twice as much as in 2017 before the U.S. sanctions were imposed, customs data show. Analysts suspect it was able to make similar profits from those businesses. Residents only. ), “The past couple of weeks have seen fundamental arguments made for choosing silver, bitcoin, and Treasuries over gold,” wrote Edward Moya, senior market analyst for the foreign-exchange broker OANDA. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. That helps explain why a tokenized or “synthetic” version of the BNB token, called wrapped BNB (WBNB), appears to be the primary token traded on PancakeSwap within the Binance Smart Chain ecosystem, according to CoinGecko, a crypto-markets tracking site: DEFI AT $400 BILLION? Shares of Tata Power rose 5.5% to their best closing level since June 2014 after the report, which comes as the Palo Alto-based electric-car maker gears up for an India launch later this year with plans to import and sell its Model 3 electric sedan. The country’s official oil exports have plunged to almost nothing from around 2.5 million barrels a day before the American sanctions. Like Ant, Tencent will probably be required to establish a financial holding company to include its banking, insurance and payments services, said one of the people, seeking anonymity as the discussions are private.The two firms will set a precedent for other fintech players on complying with tougher regulations, the people added.Such a move would mark a significant escalation in China’s campaign to curb the influence of its technology moguls, days after Premier Li Keqiang pledged at the National People’s Congress to expand oversight of financial technology, stamp out monopolies, and prevent the “unregulated” expansion of capital.“We will continue to adapt to changes in the regulatory environment, which we view as beneficial to the industry, and will seek to ensure full compliance,” Tencent said in an emailed statement following the fine by the antitrust watchdog. The company declined to comment on financial regulatory matters.The China Banking and Insurance Regulatory Commission didn’t immediately respond to a request seeking comment.A progression of rules unveiled in the past six months has taken aim at the dominions built by China’s most successful online entrepreneurs. “As the home of the Crypto Valley, it is important to us to further promote and simplify the use of cryptocurrencies in everyday life,” said Zug’s finance director, Heinz Tannler, when the tax initiative was announced. Mackenzie will succeed Charles Holliday who will step down on May 18 after serving six years in the role. China is looking to curb a rapid buildup in financial leverage, which means the central bank may guide borrowing costs higher. Hailed by China as a symbol of "mutually beneficial cooperation", the pipeline has become a target for public anger over perceptions Beijing is backing the junta that seized power in a Feb. 1 coup. Stripe Names Digital Currency Advocate, Former BoE Governor Carney to Board, started accepting tax payments in cryptocurrency. Renault and Daimler have said their industrial partnership that dates back more than a decade will continue.Renault warned investors last month of another challenging year following a worse-than-expected 8 billion-euro annual net loss. Meanwhile, the nation’s capital controls make it an uneven playing field for foreign investors.To access the market, international funds must wade through rounds of paper work. They haven’t seen outflows in about 10 months.Foreign investors bought 93.6 billion yuan ($14.4 billion) worth of Chinese debt in February, after adding positions at a record pace the previous month, egged on by the addition of China’s government and policy-bank bonds into the world’s major indexes in 2019.“From a relative value perspective, all stars are aligned,” said Jean-Charles Sambor, head of emerging-market debt at BNP Paribas Asset Management in London who is overweight Chinese debt.. “We’re likely to see rotation not only from low yielders in emerging markets but also from global markets into China.”Still, there are plenty of risks that can throw a wrench into the trade. “I would be more than surprised if that wouldn’t be favorable for high-risk factors like value.”Yet all these relationships are volatile -- and have far less explanatory power than commonly asserted.Interest-rate changes only explain 19% of the returns posted by the growth factor versus value since 2018, Goldman Sachs strategists wrote in a note last month. PancakeSwap runs on Binance’s own blockchain, Binance Smart Chain. “While bubbles of the past explode only to later collapse and never to return to their previous glory, bitcoin is known for its “two-steps-forward-one-step-back” moves,” Joakim Book, a research fellow at the American Institute for Economic Research, writes in op-ed for CoinDesk Opinion. Last week, large speculators -- mostly hedge funds -- were most bearish on Nasdaq mini futures since early October, according to data compiled by Commodity Futures Trading Commission.Those heavy bets set the stage for a short squeeze as the Nasdaq 100 surged 4% Tuesday, the most in four months. Should the US Federal Reserve Buy Bitcoin? “China government bonds are as good an asset as U.S. Treasuries when looking at long-term correlations versus global stocks.”Casting Chinese debt as a viable asset class for trillions of dollars in savings is controversial, given liquidity and accessibility issues as well as currency risk. If you can multiply a crypto paper trading or demo demo several times over, then perhaps you have the right skills and mindset to grow a … )For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. President Tayyip Erdogan will attempt on Friday to make good on his pledge of a new economic era for Turkey, with a package of reforms that he says will tackle chronically high inflation, currency depreciation and financial instability. Meanwhile the likes of Exxon Mobil Corp., tied to oil demand, look riskier.In the post-crisis era of monetary easing, that’s how the valuation dynamic played out: Netflix’s long-term earnings were discounted at lower rates -- making it more expensive.Now, opposing forces are in play. (Bloomberg) -- An upstart contender to U.S. Treasuries has emerged in the wake of last month’s vicious debt rout.Chinese government bonds have defied the turbulence rocking peers from Australia to Europe, offering a port in the global reflation storm. The number of oil rigs has already jumped 80% after bottoming out in August, Baker Hughes data show.The more restrained shale drillers are this year, “the more they can potentially grow production at higher prices next year and beyond,” Tran said.As crude prices climb, the odds of another shale boom rise, JPMorgan Chase & Co. analysts including Natasha Kaneva wrote in a March 11 note to clients. Adani has been rapidly expanding his conglomerate, adding ports, airports, data centers and coal mines in India, while doggedly proceeding with his controversial Carmichael coal project in Australia.“Adani has been consistently expanding its business in areas that are resilient to market cycles,” said Sunil Chandiramani, founder and chief executive officer at Nyka Advisory Services. Analysts for JPMorgan wrote in an 86-page report that bitcoin’s “competition with gold as an ‘alternative’ currency is here to stay,” though they called it an “economic sideshow” in that “the rise of digital finance is the real post-Covid-19 story.”, Bill Gates, the Microsoft-founder-turned-philanthropist, said he’s neutral, notable perhaps because he didn’t immediately pan it, as some other successful U.S. business people have done, later to miss out on big market gains. Within 45 days, Deposit $15,000 – $99,999, you’ll get 1 Month Free Management; Deposit $100,000 – $249,999, you’ll get 6 Months Free Management )For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. You must fund at least the $15,000 initial deposit within 45 days of signup; This promotion is not valid with any other offers and is non-transferable. PAY YOUR SWISS TAXES IN BTC: The Swiss canton of Zug – dubbed “Crypto Valley” thanks to the many digital-asset companies drawn to the jurisdiction because of its friendly blockchain and crypto regulation – has started accepting tax payments in cryptocurrency. “There is an increasing possibility of using China bonds as an alternative.”China was the first major economy to emerge from the pandemic. That makes a company like Netflix Inc. look like a a safer bet since it’s riding the secular trend of streaming rather than ups and downs of the business cycle. If the game is set to private, then only you can see your holdings. The stock closed Wednesday at a three-year high, valuing the company at 77.1 billion euros.Renault informed Daimler in advance of its plan to offload its holding, a spokesperson for the German carmaker said. All three of the nation’s financial watchdogs have made it their primary goal this year to curb the “reckless” push of technology firms into finance. Renault divested its shares via a placement at 69.50 euros a piece.Proceeds from the sale will allow Renault to “accelerate the financial de-leveraging of its automotive activity,” the company said. Yes. We have a number of helpful guides. According to CoinDesk’s Sebastian Sinclair, the price rise might be tied to increased interest in a decentralized financial application called PancakeSwap, which helps users find yield-earning opportunities in crypto markets. While cryptocurrency exchange Coinbase’s valuation soars to a $77 billion valuation based on private-share trading, rival Binance is seeing rocketing demand for its exchange tokens in digital-asset markets. Signs continued to mount that bitcoin is seeing increased mainstream adoption – or at least mainstream attention from the likes of the giant bank JPMorgan Chase, U.S. Treasury Secretary Janet Yellen, Microsoft founder Bill Gates and the bond-investing legend Jeff Gundlach. It also underscores the rising heft of the self-made billionaire, who has lured investment from Total SA to Warburg Pincus. Adani Transmission Ltd. is up 77%. “Now with the entry in data centers business, the group has also indicated its appetite for venturing into technology.”Adani Enterprises Ltd. signed a pact last month to develop 1 gigawatt of data center capacity in India.Adani Total Gas Ltd., top performer in the group, has jumped almost 97% this year while the flagship Adani Enterprises has advanced 87%. Get the latest news and analysis in the stock market today, including national and world stock market news, business news, financial news and more We encourage you to either join a game or create one. It takes less than a minute and is, of course, free. Iran still produces roughly 2 million barrels daily, however.Tensions have remained high since Joe Biden came to power, although Iranian President Hassan Rouhani said this week his country was ready to revert to full or partial compliance with the nuclear deal if the U.S. did the same. TULIPMANIA 2.0? Beneath the surface, however, the surge was largely driven by hedge funds who were forced to pare their bearish bets to limit losses -- rather than genuine interest.While those funds were net buyers of stocks for a fifth straight day, short covering outpaced long sales by a ratio of 4 to 1 on Tuesday, according to data from Goldman Sachs Group Inc.’s prime brokerage unit. You can then join in the conversation by posting a new comment. 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WeChat Pay accounts for almost 40% of the country’s mobile payments market, second only to Alipay, according to iResearch.Tencent with three other major tech companies -- Alibaba, JD.com and Baidu -- together control over 40 financial licenses through acquisitions or investments, according to Xinhua News Agency, which cited 01caijing. (Bloomberg) -- Indian tycoon Gautam Adani has added more billions to his wealth than any one else in the world this year on the back of investor excitement around his ports-to-power plants conglomerate.The net worth of Adani, a first-generation entrepreneur who rarely speaks publicly, has jumped $16.2 billion in 2021 to $50 billion, according to the Bloomberg Billionaires Index. (Updates with analsyst comment in 6th paragraph. With foreign arrivals this year expected at less than 10% of the 40 million tourists registered pre-pandemic, hotel operators have suffered unprecedented losses.With interest rates at or near record lows and trillions of dollars in fiscal stimulus already deployed, central banks around the world have had to get more creative to bolster ailing economies. If you're experiencing an issue, please contact our Customer Service team at mwfeedback@marketwatch.com. In China, it usually goes for $3 to $5 barrel less than benchmark Brent crude, according to traders, who say that’s prompting some local companies to stock up as global prices rise and economic activity picks up following the Lunar New Year holidays.Chinese imports of Iranian crude will rise to 856,000 barrels a day in March, the most in almost two years and up 129% from last month, according to Kevin Wright, a Singapore-based analyst with Kpler. Mackenzie, who left BHP Group last year after serving as CEO of the mining group from 2013 to 2019, joined Shell's board in October 2020. Even with flat capital spending, efforts are under way to maintain or grow production at low cost, according to the bank.“At current prices, most U.S. onshore operators are economic, leaving a vast group of operators, from large public companies to private players, in good position to ramp up activity” in the second half of this year and build solid momentum for higher output in 2022, the analysts said.Bloomberg compiled these charts from Bloomberg Intelligence data of publicly listed companies. Shares of Tencent investor Naspers and its unit Prosus also declined. JPMorgan Asset Management and Brandywine Global Investment Management LLC are among those who now see them mimicking the resilience that has afforded U.S. government debt the status of the world’s safest asset in times of crisis.The nation’s 10-year yield has been wedged in a tight eight basis-point range over the past month, even as price swings in the rest of the bond world have broken out.