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China’s Bubble Bursting Has Wall Street Eyeing a 2022 Rally

Reuters

U.S. to add more Chinese firms to investment, export blacklists – FT

Citing two sources briefed on the plans, the Financial Times said the United States would add eight Chinese firms, including the drone maker, DJI Technology Co Ltd, to an investment blacklist on Thursday. The U.S. commerce department is also set to place more than two dozen Chinese firms, some of them involved in biotechnology, on an “entity list” restricting exports to them by U.S. firms, the newspaper cited the sources as saying. The impact was sharper still in Hong Kong, where the Hang Seng Healthcare Index was down 7.6% in late afternoon trade. Healthcare firms were already under pressure on Wednesday after Chinese biotech company BeiGene Ltd plunged on its Shanghai debut, amid worries that some Chinese firms could be ordered to delist from the U.S. stock market.

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