The stock prices of China’s big internet companies fell Friday after the country’s legislative body adopted a new, strict privacy law to come into force on November 1.
Alibaba shares were down 2.6%, with Tencent Music falling 3% before recovering later in the day. Hong Kong’s Hang Seng Index fell 1.8% and the CSI 300 composite of Chinese blue chips dropped 2%.
A report by the official Xinhua News Agency said that the law was voted by the National People’s Congress and promulgated immediately by president Xi Jinping.
Its passage marks another step in the Chinese government and regulators’ crackdown on the country’s biggest internet companies, tightening the regulation of cyberspace and strengthening compliance requirements, to better protect user privacy.
Chinese authorities in early July announced a cybersecurity probe of Didi, the ride-hailing app, just three days after the company started listing on the New York Stock Exchange. The stock price is down 49% since then.
Best Blue Chip Stocks To Own Right Now: Nuveen Core Equity Alpha Fund(JCE)
Nuveen Core Equity Alpha Fund (the Fund) is a diversified closed-end management investment company. The Fund’s investment objective is to provide total return. The Fund seeks to achieve its investment objective primarily through long-term capital appreciation, and secondarily through income and gains. The Fund will invest in a portfolio of common stocks selected by employing a mathematical process designed by its sub-advisor, Enhanced Investment Technologies, LLC (INTECH), which seeks to provide risk-adjusted excess returns (alpha) above the S&P 500 Index (the Index), with an equal or lesser amount of relative investment risk. The Fund will, to a limited extent, write (sell) call options primarily on custom baskets of securities that seek to track the return of the Index. Its investment advisor is Nuveen Asset Management (NAM), a wholly owned subsidiary of Nuveen Investments, Inc.
The Fund will invest its managed assets in a portfolio of common stocks from among the 500 stocks comprising the Index as selected by INTECH (the Equity Portfolio). INTECH will construct and manage the Equity Portfolio employing its mathematical process. Nuveen Core Equity Alpha Fund seeks to invest approximately 95% of its managed assets in the Equity Portfolio. The Fund will invest at least 80% of its managed assets in the Equity Portfolio. In constructing the Equity Portfolio, INTECH will employ its Large Cap Core strategy. The Large Cap Core strategy targets risk-adjusted excess returns for the Equity Portfolio (as distinguished from the Fund) over the Index of 3% to 4% annually. The Equity Portfolio will consist of a diversified portfolio of 250 to 450 common stocks included in the Index.
Nuveen Core Equity Alpha Fund may invest up to 10% of its managed assets in securities of other open or closed-end investment companies (including exchange-traded funds (ETFs)) that invest primarily in securities of the types, in which the Fund may invest directly and that have a similar investment objective as that of the Fund. In addition, the Fund may invest a portion of its managed assets in pooled investment vehicles (other than investment companies) that invest primarily in securities of the types, in which the Fund may invest directly. The Fund may write call options on stock indexes or ETFs. It may invest in securities that, at the time of investment, are illiquid (securities that are not readily marketable). The Fund’s Equity Portfolio will be invested in liquid equity securities selected from the Index.
Advisors’ Opinion:
- [By Max Byerly]
Shaker Financial Services LLC lessened its holdings in shares of Nuveen Core Equity Alpha (NYSE:JCE) by 70.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 46,154 shares of the company’s stock after selling 112,257 shares during the period. Shaker Financial Services LLC’s holdings in Nuveen Core Equity Alpha were worth $674,000 at the end of the most recent reporting period.
Best Blue Chip Stocks To Own Right Now: CB Financial Services, Inc.(CBFV)
This Annual Report on Form 10-K contains forward-looking statements, which can be identified by the use of words such as “estimate,” “project,” “believe,” “intend,” “anticipate,” “assume,” “plan,” “seek,” “expect,” “will,” “may,” “should,” “indicate,” “would,” “believe,” “contemplate,” “continue,” “target” and words of similar meaning. These forward-looking statements include, but are not limited to:
· statements of our goals, intentions and expectations;
· statements regarding our business plans, prospects, growth and operating strategies;
· statements regarding the asset quality of our loan and investment portfolios; and
· estimates of our risks and future costs and benefits. Advisors’ Opinion:
- [By Joseph Griffin]
Get a free copy of the Zacks research report on CB Financial Services (CBFV)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
- [By Stephan Byrd]
Get a free copy of the Zacks research report on CB Financial Services (CBFV)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Best Blue Chip Stocks To Own Right Now: Oxford Lane Capital Corp.(OXLC)
Oxford Lane Capital Corp., incorporated on June 10, 2010, is a non-diversified closed-end management investment company. The Fund’s investment objective is to maximize its portfolio’s risk adjusted total return and seeks to achieve its investment objective by investing in structured finance investments, specifically collateralized loan obligation (CLO) vehicles, which primarily own senior corporate debt securities. The Fund holds debt investments in over three different CLO structures and equity investments in approximately 30 different CLO structures. Its investment strategy also includes investing in warehouse facilities, which are financing structures intended to aggregate loans that may be used to form the basis of a CLO vehicle.
The Fund may also invest, on an opportunistic basis, in corporate debt securities on a direct basis and a range of other corporate credits. The CLO vehicles, which the Fund focuses on are collateralized primarily by senior secured corporate loans, and generally have minimal or no exposure to real estate loans, mortgage loans or to pools of consumer-based debt, such as credit card receivables or auto loans. Oxford Lane Management, LLC (OXLC Management) is the investment advisor of the Fund.
Advisors’ Opinion:
- [By Alexander Bird]
Two funds we like are the Strategic Global Government Fund Inc. (NYSE: RCS), which pays a handsome 7.8% dividend yield, and Oxford Lane Capital Corp. (NASDAQ: OXLC), which pays a massive 16.46% yield.
- [By Stephan Byrd]
Get a free copy of the Zacks research report on Oxford Lane Capital (OXLC)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
- [By Stephan Byrd]
Get a free copy of the Zacks research report on Oxford Lane Capital (OXLC)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
