Tanggram Daily Market News 08/02/2022

2 min readFeb 8, 2022



China’s PMI

China’s PMI stood at 51.4 in January, down 1.7 percentage points from the previous month and still above the Ronggu line.

The data showed that although service sector activity expanded slightly due to the spread of the epidemic and the corresponding increase in prevention and control measures, the momentum of expansion weakened significantly, with growth slowing to the lowest in nearly five months and market optimism declining.

Companies generally reflected that the expansion in business activity was driven by an increase in new business volumes, but the epidemic and corresponding anti-epidemic measures constrained the overall growth rate.

Tesla took an impairment loss over bitcoin

Tesla said the company took an impairment loss of $101 million due to changes in the carrying value of bitcoin.

In its latest 10-K filing, Tesla claimed an impairment loss of approximately $101 million for the year ended December 31, 2021, due to changes in the carrying value of the company’s bitcoin. As of December 31, 2021, the fair market value of Tesla’s holdings of bitcoin was $1.99 billion.

U.S deploy troops to Poland

U.S. Defense Department spokesman Kirby revealed that the deployment is in two parts: first, the U.S. will transfer 2,000 U.S. troops from Fort Bragg Army Base in North Carolina to Germany and Poland in the coming days; second, the U.S. will deploy 1,000 U.S. troops in Germany to Romania.


ASX up

The S&P/ASX200 is up today, gaining 65.90 points or 0.93% to 7,176.70. The top performing stocks in this index are FLIGHT CENTRE TRAVEL GROUP LIMITED and CHAMPION IRON LIMITED, up 6.07% and 4.89% respectively.




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