FT News Briefing US businesses in Hong Kong between a rock and a hard place
Jul 20, 2021
Global markets took a hit as fears over the Delta variant sent stocks tumbling. American companies in Hong Kong wrestle with heightened regulatory pressures and uncertainties stemming from US-China tensions. Meanwhile, Robinhood is aiming for a massive $35 billion valuation in its upcoming IPO, showcasing its push to democratize investment. Industry experts weigh in on the precarious balance businesses must strike in this evolving landscape, where political and economic challenges intertwine.
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Delta Variant Impacts Markets
- Global stock markets fell due to the Delta variant spread.
- Investors are concerned about the variant's impact on vaccines and potential lockdowns.
Robinhood's IPO Approach
- Robinhood seeks up to a $35 billion IPO valuation.
- It's unusual because they're allocating 30% of shares to retail traders.
US Businesses in Hong Kong
- The Biden administration issued a business advisory warning about risks in Hong Kong.
- US businesses are worried about potential backlash and the changing legal landscape.