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Major Asia stocks mixed despite optimism with phase one US-China deal ‘totally done’

“Apple led Friday’s slight gains, rising 1.4% to a record after news of the trade agreement was announced” writes Weizhen Tan for cnbc.com. Markets in Asia were mixed in early trade on Monday, as trade optimism soared with China and the U.S. announcing they are finally set to sign off on a phase one trade agreement.U.S. Trade Representative Robert Lighthizer said on Sunday that the phase one U.S.-China trade deal reached on Friday is “totally done,” and it will nearly double U.S. exports to China over the next two years.U.S.…

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2020 is the year of sustainability on Arab stock exchanges: AFE’s Secretary General

“The relative weight of Arab stock exchanges in the index is about $1.2trn while Aramco is about $1.9trn” writes Fatma Salah for dailynewssegypt.com. The Arab Federation of Exchanges (AFE) has been working on launching a development strategy to localise financial technology in Arab stock exchanges, and sustainable development, declaring 2020 the year of sustainability in Arab stock exchanges. “Reforming the home from within” is the approach taken by the AFE’s Secretary General since taking over the secretariat last July.The AFE is also seeking to establish a unified Arab code system…

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Drop in leading stocks pushes EGX30 to decline further, though expected to bounce back this week

“On the other hand, the market capital was EGP 686.6bn during the last week, down 1.23% from the week before last” writes Fatma Salah for dailynewssegypt.com. The broader EGX100 index fell 1.57% to 1,360 points, and the EGX30 Capped index down 2.4%, closing at 15,784 points.Kamal expected the market to bounce back at the beginning of this week and test its resistance point at 13,500 points and then 13,700 points.Amin expected the index to move in the medium term between 13,000 and 15,000 points, predicting the market to rise again.…

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I didn’t have the cash to exercise my startup stock options. This Silicon Valley fund offered a way to do it without burying me in debt.

“Chou said ESO Fund is ideal for young people working for startups who do not have the resources to exercise stock options” writes Benjamin Pimentel for businessinsider.com. He had left before the company’s IPO. “I didn’t have money to do the early exercise of the stock options,” he said.ESO Fund has helped clients exercise stock options worth as little as $1,500, and has funded much bigger deals worth a few million, Chou said. Source: businessinsider.com

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There are profitless companies far beyond Silicon Valley. One market expert explains how they’re a lethal factor setting the market up for a meltdown.

“If you look at the Russell 2000, about a third of Russell 2000 companies do not make profit.”” writes Christopher Competiello for businessinsider.com. As investors, we like to think that pockets of market turmoil are generally sequestered and free of contagion.His comments on unprofitable companies were echoed recently by billionaire Bond King Jeffrey Gundlach, who warned of “zombie companies” that are still in business solely because of artificially low interest rates. Source: businessinsider.com

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Uber’s co-founder and former CEO Travis Kalanick sold off close to $166 million shares over the past three days, continuing to offload his stake in the ride-sharing giant

“The 43-year-old founder sold a little over 5.8 million shares between December 11th and December 13th, according to an SEC filing” writes Bani Sapra for businessinsider.com. In total, the Uber co-founder seems to have liquidated over $2 billion in Uber stock since early November.Uber co-founder and former CEO Travis Kalanick dumped close to $166 million of company stock over the past three days, continuing a selling streak that began in the first week of November.As of December 13th, the former chief executive holds 21 million shares.Kalanick raised eyebrows by selling…

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200K Users ‘Already in Line’ for Robinhood’s Fractional Stock Trading

“More than 200,000 Robinhood clients have already expressed their intent to use its new fractional stock trading app announced yesterday” writes Helen Partz for cointelegraph.com. Robinhood, a major California-based financial services firm that is known for its zero-fee crypto trading app, has announced its plans to launch fractional stock-trading on Dec. 12.In late October, Twitter CEO Jack Dorsey’s financial services firm Square announced it will offer users the ability to trade fractions of a stock for as little as $1 on its Cash App.Vladimir Tenev, co-founder at Robinhood, said that…

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Path is clear for a year-end rally with key hurdles like the trade war removed

“The trade deal was met by some skepticism as investors hoped to see more details” writes Patti Domm for cnbc.com. With trade tensions toned down, stocks have clearance to rally into year-end, a traditionally positive time for stocks.Stocks surged to record highs in the past week, as the U.S. and China moved to announce a phase one trade deal that halts tariffs that were set to go into effect Sunday. Source: cnbc.com

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Markets have muted reaction to long-awaited China trade deal

“The Russell 2000 index of smaller company stocks fell 0.6%” reports thebusinessjournal.com. Stocks closed with tiny gains on Wall Street as investors weigh the news that the US and China have reached an initial deal in their long-running trade war.Media reports on Thursday that a deal was close sent the S&P 500 and the Nasdaq to record highs.The agreement means the US won’t impose new tariffs on Chinese goods that had been set to kick in this weekend. Source: thebusinessjournal.com

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