"Tesla stock price is too high," Musk said on Twitter in one of several unusual messages, including ones quoting parts of the U.S. national anthem and that he would sell almost all his physical possessions. More than two hours after the tweets began, Tesla had not responded to requests for comment. Twitter declined to comment....
State-media footage shows North Korean leader Kim Jong Un cutting the ribbon at a fertilizer factory, ending a nearly three-week absence from public view that fueled rumors of his death. Photo: KRT/Associated Press...
China's most populous cities saw a spike in outbound travellers, tourists and day-trippers on May 1, first day of a long holiday weekend, led by Wuhan, epicentre of the coronavirus epidemic that first struck the country late last year. The number of people travelling outside their home cities jumped 40% at the start of the Labour Day weekend, compared with the first day of the Tomb Sweeping holiday on April 4, according to Reuters calculations on data from China's internet giant Baidu Inc. The increase in outbound travel during the five-day holiday, one of China's peak tourism periods each year, would help lift the travel and hospitality sectors that have been hit hard by disruption from the coronavirus pandemic....
China's government this week gave its go-ahead for the set up of real estate investment trusts (REIT), opening a channel that lets investors tap the country's property growth, while limiting their speculation in bricks-and-mortar buildings.The pilot programme, implemented after more than a year of public consultations, will allow China's mutual funds to issue public REITs that can be bought and sold like stocks on the country's exchanges, according to an April 30 statement by the National Development and Reform Commission (NDRC) and the China Securities Regulatory Commission (CSRC).The pilot programme marks the most consequential development in China's financial services in recent years, as it adds an investment option for Chinese households while simultaneously taking the air from the speculative bubbles that have stubbornly defied the government's cooling attempts. The timing also gives Chinese policymakers an additional tool to redirect household savings into the capital-intensive property industry, alleviating the burden on banks...
