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BUSINESS TODAY 21 July 2022

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Name Current Change %Change Open High Low Prev. Value Close US MARKETS NASDAQ 13,037.49 -344.03 -2.57 13511.75 13533.78 13032.17 13381.52 EUROPEAN MARKETS FTSE 7,251.31 -246.87 -3.29 7498.18 7498.18 7243.44 7498.18 CAC 6,451.79 -328.88 -4.85 6496.25 6617.09 6433.51 6780.67 DAX 13,854.52 -776.84 -5.31 13989.41 14221.71 13826.70 14631.36 ASIAN MARKETS SGX Nifty 16,141.00 -109.00 -0.67 17052.50 17115.00 15500.50 17063.00 Nikkei 225 25,970.82 -478.79 -1.81 26281.35 26357.58 25775.64 26449.61 Straits Times 3,276.06 -116.94 -3.45 3351.24 3363.17 3248.93 3393.00 Hang Seng 22,901.56 -758.72 -3.21 23268.03 23376.37 22786.39 23660.28 Taiwan Weighted 17,594.55 -461.18 -2.55 17939.53 17939.53 17561.07 18055.73 KOSPI 2,648.80 -70.73 -2.60 2689.28 2694.55 2642.63 2719.53 SET Composite 1,662.72 -33.73 -1.99 1683.92 1690.50 1656.62 1696.45 Jakarta Composite 6,817.82 -102.24 -1.48 6912.48 6929.91 6758.86 6920.06 Shanghai Composite 3,429.96 -59.19 -1.70 3474.37 3486.98 3400.21 3489.15 21.7.2022 7 MARKETS International Markets Global Indices Trading Date: 20 July 2022 China holds interest rates but hikes seen elsewhere CHINA is preparing to hit ride-hailing firm Didi with a fine of more than USD1 billion to wrap up a long-running probe, a press report said, boosting investor hopes that the country's tech crackdown is winding down. Didi, once known as China's answer to Uber, has been one of the highest-profile targets of the widespread clamp- down on the sector, which saw years of runaway growth and supersized monopolies before regulators stepped in. e fine – imposed over Didi's cybersecurity practices – would amount to more than 4% of its USD27.3 billion total revenue last year and pave the way for its new share listing in Hong Kong, e Wall Street Journal reported. Citing unnamed sources familiar with the matter, the Journal said that once the fine is announced, the govern- ment will ease its restrictions on Didi's operations. e firm was prevented from adding new users and its apps were removed from online stores in China by reg- ulators. Japan electric motor manufacture Nidec reports surge in profits Nidec reported a surge in profit in its first quarter as the company increased sales. In the three months to June 30, the Japanese electric motor manufacturer reported a pre- tax profit of JPY56.99 billion, around USD412.4 million, up 30% from JPY43.75 billion a year previous. Net sales grew 21% year-on-year to JPY540.37 billion from JPY447.47 billion while earnings per share jumped to JPY71.50 from JPY57.14. Nidec added this was a record quarter for sales despite Covid-19 related lockdowns. Drought and pipeline leak lead to drop in copper mine output Chilean copper miner Antofagasta lowered its annual production guidance after posting lower output in the first half of 2022, as a drought and a pipeline leak in Chile hurt operations. Copper output in the second quarter of the year fell 6.5% quarter-on-quarter to 129,800 tonnes. For the half-year, it was 26% lower year-on-year at 268,000 tonnes. A leak at the Los Pelambres asset in Chile hurt output. It occurred on May 31 and took until June 26 to be repaired. Copper output guidance for 2022 has been lowered to between 640,000 and 660,000 tonnes, from the previous range of 660,000 tonnes to 690,000 tonnes. Anto noted weaker copper prices, which have been on a downward trend since June. Antofagasta said it received USD3.42 per pound of cop- per in the second quarter, down from USD5.05 in the first. In response, the firm pledged to keep a lid on costs.

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