Daily Archive: June 16, 2020

Hong Kong chief says opponents of security law are “enemy of the people” By Reuters

© Reuters. Hong Kong Chief Executive Carrie Lam holds a news conference in Beijing

By Clare Jim and Carol Mang

HONG KONG (Reuters) – Hong Kong leader Carrie Lam on Tuesday urged opponents of Beijing’s plan to impose national security legislation in the financial hub to stop “smearing” the effort, saying those who did were “the enemy of the people”.

Beijing last month announced a plan to introduce legislation in Hong Kong to tackle secession, subversion, terrorism and foreign interference.

Critics see it as the most serious threat to a “one country, two systems” formula, agreed when the former British colony returned to Chinese rule in 1997, aimed at ensuring its freedoms and role as a global financial centre.

The Chinese government and Lam’s Beijing-backed city administration say the law will not curtail freedoms but will target a small number of “troublemakers” and help bring stability after a year of

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Robinhood investors’ top picks are blowing away hedge funds, market

The top stocks traded by investors on the popular commission-free trading platform Robinhood are outperforming those favoured by hedge funds and mutual funds since the stock market bottom on March 23, according to a new note published by Goldman Sachs Group Inc.

Using data collected from discount online brokerage Robinhood and Robintrack, Goldman’s chief U.S. equity strategist David Kostin accumulated a list of the most popular stocks traded on the platform. According to Kostin, a basket of stocks including airline, cruise line, big tech, U.S. banks and gaming companies is up 61 per cent as of June 11. A portfolio made up entirely of these stocks blows away the 45 per cent returns for similar lists the bank has comprised of favourite hedge fund and mutual fund holdings. The S&P 500, meanwhile, is up 36 per cent as of Monday.

“In recent weeks, investors have focused on a different type

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S&P 500, Dow Jones (DJIA) eke out gains today as Federal Reserve says it will begin buying individual corporate bonds

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