Mon, Nov 18, 2024 2:50 PM
Trust MF CIO sees value in domestic themes as markets test support levels
A Flip by Avya Verma
Chinese equities rebounded as traders expect further stimulus and guidance on corporate valuation, with the Hang Seng China Enterprises Index rising 2.2% and financial stocks such as China Everbright Bank Co. fueling the gain, following a 6% loss last week. Chinese equities' rally has cooled due to deflation and geopolitical concerns.
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Netflix shares could be on watchlists after the streaming giant experienced technical glitches as a record 60 million households tuned into its Friday night broadcast of a highly anticipated fight between Jake Paul and Mike Tyson, with slowing bullish price momentum potentially leading to near-term profit taking, and upside target of around $870, with major support levels at $770, $725, and $690.
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The energy trader seeking to buy UK gas assets from Shell Plc and Exxon Mobil Corp. was sued over allegations that he diverted money from an Iranian petrochemical company that was later banned from doing business in the US. Francesco Mazzagatti is accused in a London lawsuit of profiting from an indirect ownership of Mehr Petrochemical Co., an Iranian maker of plastic resin.
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