Kaohoon Morning Brief – 30 August 2021

1) Fed expects tapering later this year

Fed’s Chair Jerome Powell stated that the Fed could start tapering its current $120 billion asset purchases this year as the central bank is carefully assessing the risks from the Covid-19 Delta variant, while seeing interest rate hikes are still ways off. Still, the statement did not give a specific date on the beginning of tapering.

 

2) U.S. oil firms cut 91% of production ahead of Hurricane Ida

Brent crude and WTI rose more than 10% last week ahead of Hurricane Ida as oil firms on Saturday cut nearly 91% of U.S. Gulf of Mexico crude oil production, approximately 1.65 million barrels for safety.

 

3) RBF signed a contract with ICHI to distribute cannabidiol

R&B Food Supply Pcl. (BRF) signed a deal with Ichitan Group Pcl. (ICHI) to distribute cannabidiol to infuse with ICHIs drinking products as the business related to hemp is becoming a trend in Thailand.

 

4) China will put more restrictions on domestic companies from going IPO in U.S.

China expects to put more restrictions on domestic companies containing critical data before being able to go public in the U.S. stock markets. Beijing plans to implement the rules in the fourth quarter this year.