MILANO – The concern for the markets when trading restarts comes from Shijiazhuang, a city of 11 million inhabitants 300 kilometers from Beijing. What was supposed to be the frontier of reopening after the months of the zero-Covid policy is already changing course: it was said that there would be an easing of the measures to return to normal life, even if it was perceived with great concern by the inhabitants. Instead, a few days later comes the suspension of the activity of schools and universities and the invitation to the population not to go out. This adds to the reporting of some deaths from Covid which is therefore once again agitating China, suggesting caution to stock market operators. Who are already in a phase of uncertainty, waiting for greater clarity on the next moves of the central banks from the minutes of the meetings of the Fed and the ECB which will be published this week.
Wall Street futures in the red. Short week ahead
Futures down on Wall Street after last Friday’s positive close. Markets are weak and uncertain at the start of the week in anticipation of the early holiday shutdowns on Thanksgiving Thursday and Black Friday on Friday, and awaiting the minutes of the latest Fed meetings. Dow Jones futures are down 0.21% , those of the Nasdaq drop by 0.20% and those of the S&P 500 register a decrease of 0.24%.
Cryptocurrencies, FTX owes 3.1 billion to the fifty largest creditors
Ftx, the cryptocurrency exchange platform that went bankrupt due to a liquidity crisis earlier this month, owes its 50 largest creditors at least $3.1 billion. The Washington Post writes it, citing new trial documents. The largest amount to be repaid is $226 million. There are also 10 creditors with claims of at least $100 million. Among the companies that have invested in Ftx BlackRock are Sequoia Capital, Tiger Global and the Ontario Teachers’ Pension Plan.
China’s central bank leaves interest rates unchanged
China’s central bank left its key rates unchanged for the third consecutive month as the weakening yuan and persistent capital outflows continued to limit Beijing’s ability to ease monetary conditions to support the economy. As expected, the reference rate for one-year loans (Lpr) remained unchanged at 3.65%, while the five-year rate was confirmed at 4.30%.
Stock markets weak in Asia, Tokyo holds parity (+0.16%)
Tokyo’s Nikkei index ended the session up 0.16% to 27,944.79 points. The Shanghai composite index dropped 0.52% and Hong Kong fell 1.60%. Seoul’s Kospi is also down, losing 1.12%.