Deposit rates , exchange hours, the collapse of China's big tech: a digest

of the Top 10 rates on deposits and savings accounts. Moscow Exchange will not trade shares from 14 to 18 March. CHINA tech stocks plunge amid covid-19 outbreak. notable events, How exchanges work On March 14, the Bank of RUSSIA decided not to resume trading in shares on the Moscow Exchange from March 14 to 18. Transactions in the currency, money markets and the precious metals market will take place from 10:00 to 19:00 Moscow time. SPB Exchange plans to start trading in the mode intended for private investors no earlier than 17:00 Moscow time. The site will update the information today during the day on its website. Sunday, March 13The US switched to daylight saving time. Accordingly, American exchanges will now open at 16:30 Moscow time, and close at 23:00 Moscow time.

What can happen when the Moscow Exchange is opened. Experts on the first day of trading Investments , Moscow Exchange ,  Sanctions , Shares

Top 10 rates on deposits and savings accounts

The average rate of the 54 largest depository banks on deposits for a period of one year in the amount of ₽100 thousand as of March 11 is 9.39% per annum, according to the FRG100 index.

The most favorable deposit rate as of March 11, 2022 is 27% per annum. Top 10 banks with high effective rates on deposits and savings accounts as of March 11, 2022:

Sinara - up to 27%; "Solid" - up to 26.54%; Tavrichesky Bank - up to 25.10%; Sovcombank - up to 25%; Post Bank - up to 25%; Novikombank — up to 25%; Fora-Bank — up to 24.50%; VTB — up to 24%; Ural Bank for Reconstruction and Development - up to 24%; Moscow Industrial Bank - up to 24%.

Source: Banki.ru financial marketplace (the effective rate is calculated using the Banki.ru methodology and is not an offer, detailed conditions are in credit institutions).

New sanctions against Russia The United States has published a list of luxury goods, the supply of which to Russia is prohibited since March 16. The list included perfumes and make-up, silks and furs, handbags, expensive clothes (wholesale in the US over $1,000 per item), snowmobiles, some cars and motorcycles. The European Union may complete the development of a new package of sanctions against Russia as early as March 14, the Permanent Representation of France to the EU said. In particular, the EU may ban the import of Russian steel products, the EXPORT of luxury goods to Russia.

The news is negative primarily for the shares of Severstal and NLMK, as they have a significant share of deliveries to Europe, according to BCS World of Investments. “We will have to redirect some of them to other countries. To a lesser extent, the measures affect MMK, which operates mainly for the domestic market. However, these measures are negative for MMK as well, as competition within the country (pressure on product prices) will grow,” the investment company’s experts wrote in their morning review.

How to transfer securities from a sub-sanctioned broker to another. Instruction Broker , Interactive Brokers , Investments , Shares

China Technology Stocks

On Monday, March 14, the sale of shares in China's technology sector continued. Hong Kong's Hang Seng Tech Index was down 4% at Monday's low, while China's benchmark Shanghai Shenzhen CSI 300 was down 2.1%. At the same time, Alibaba quotes at 7 am Moscow time fell by 7.82%, Tencent - 4.5%.

The NASDAQ Golden Dragon China Index, which tracks American Depositary Receipts   of Chinese companies, was down more than 10% last week for two consecutive days, the worst ever in its 22-year history.

The authorities have introduced a lockdown in the city of Shenzhen, writes BLOOMBERG. Shares are also weighed down by the news that the US Securities and Exchange Commission (SEC) plans to force the delisting of five Chinese companies due to non-compliance with audit requirements.

Finally, on Friday it became known that the Chinese taxi aggregator DiDi suspended preparations for the listing in Hong Kong, because it could not meet the demand of Chinese regulators to review the systems for handling sensitive user data.

Recently, investors have begun to bet more on Chinese stocks, anticipating a recovery in the country's economy against the backdrop of easing monetary policy by the People's Bank of China. However, the latest news has confused market participants, Bloomberg noted. Nevertheless, Ivan Su, an analyst at Morningstar Investment Management Asia, believes that current levels are good entry points into the Chinese market. “The decline seen in Hong Kong is most likely driven by emotion. In the end, fundamentally nothing has changed in the core business of the companies,” the expert noted.

Last day to buy shares for dividends

Lam Research: last day to buy shares at a dividend of $1.5 per share; due date is April 6th.

How the previous trading session ended S&P 500 : 4204.31 (-1.3%) DOW JONES Industrial Average : 32 944.19 (-0.69%) NASDAQ Composite: 12,843.81 (-2.18%) A security tied to the shares of a certain company and issued by a bank (depository bank). within the framework of the legislation of the depositary bank. For example, an American Depository Receipt (ADR) for the shares of a Russian company is, on the one hand, an American security, the trade of which is regulated by American law, on the other hand, it gives the right to a share of profits and the right to vote at a meeting of shareholders of a Russian company