The US President Donald Trump has issued a memo calling for recommendations to protect US investors from china’s failure to allow audits of US-listed Chinese companies. He also called for recommendations to be issued within 60 days.
In earlier headlines, US Secretary of State Pompeo has said that the Nasdaq move on listing rules particularly important given pattern of ‘fraudulent’ accounting practices by China-based firms according to reports by Reuters.
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Pompeo: Nasdaq move on listing important given pattern of ‘fraudulent’ accounting practices by China-based firms – Reuters
Market implications
The angst will go to serve the trade war narrative which is starting to become more prominent in markets again towards the end of the week. The CHF is taking up the FX risk-off flows, USD/CHF bearish trend gathers pace, energised on hard fundamentals
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