Reuters reported early Friday in Asia-Pacific, citing two unidentified sources, that Chinese companies listed on US stock exchanges may face additional difficulties.
According to the news, “the Biden administration is likely to add at least 10 more Chinese corporations and other entities to its economic blacklist as early as Friday for alleged human rights violations and high-tech surveillance in Xinjiang.”
The move comes after the US Commerce Department announced last month that it had added five more Chinese firms to its blacklist as a result of claims of forced labor in Xinjiang.
The new additions to the Commerce Department’s Entity List are part of the Biden administration’s continued efforts to hold China accountable for violations of human rights.
The news adds to the market’s risk-off sentiment, giving the US dollar a safe-haven bid.
T-bond rates are expected to bounce off the 50-day moving average in the US Dollar Index./n
