Skip to content Skip to footer
Tesla robot announced by Tesla CEO Elon Musk

A Tesla Robot is on the Way, Reports of a New Data Protection Act Sends Chinese Stocks Down & FTSE 100 Rises

Chinese stocks fall as online regulations tighten

After a bearish week for stocks in the U.S, it was Chinese stocks which ended the week lower, as news broke that there was set to be increased online regulations.

It was reported that the Chinese government would look to implement a new data protection act that would be similar to the GDPR rules currently in Europe.

This comes a month after the Chinese government began investigating ride hailing giant Didi for security breaches, shortly after the company went public.

Since then, there have been several reports that tougher security measures would be put in place for digital companies, with today’s announcement being one of the first.

The Hang Seng index was down 1.84% in Friday’s session.

FTSE 100 climbs despite falling UK retail sales

 In the United Kingdom, the benchmark FTSE 100 finished the week higher, despite data showing that retail sales had slowed in July.

Figures released by the Office for National Statistics reported that sales unexpectedly dropped by 2.5% last month.

This comes after markets had forecasted sales to rise by 0.4%, however as lockdown restrictions eased, shoppers were instead socialising.

According to the ONS grocery sales fell as a result of the lifting of restrictions, which enabled customers to spend outside of the retail and hospitality sector

Despite this, the FTSE 100 closed 0.41% higher on Friday.

Tesla shares up on “bot” announcement

Shares in Tesla were also trading higher in today’s session, as CEO Elon Musk unveiled plans for a “Tesla Bot” in the near future.

Speaking at an Artificial Intelligence conference, the company’s founder stated that, “What is the economy? At the foundation it is labour, so, what happens when there is no shortage of labour?”

The “Tesla bot” or humanoid robot would take the responsibility of production work, in areas where there is a shortage of staff, whilst posing little safety threat.

Musk joked that, “At a mechanical level, at a physical level, you can run away from it – and most likely overpower it”.

It is reported that the bot would be around 5 feet, 8 inches tall and weighs 125 pounds. It can carry up to 45 pounds and deadlift up to 150 pounds.

Tesla stock was up 1.09% as of writing.

Quote of the day – “Buy things that are going up. Sell things that are going down. And when they stop, get out!”

– Rob Smith

Tradeview Ltd. is not a portfolio manager or an investment advisor. This Market Report is for informational purposes only. Any statements made or opinions voiced in this Market Report do not constitute investment advice. The Tradeview Ltd. Market Report does not constitute a solicitation to buy or sell in the financial markets. Although the information contained in the Market Report comes from trusted sources, Tradeview Ltd. is not responsible for guaranteeing the accuracy, timeliness, completeness, or fitness of such sources. Tradeview Ltd. shall not be responsible for and disclaims all liability for any losses which may be suffered from access and use of the contents of the Tradeview Ltd. Market Report. Trading any financial instrument on margin, using leverage or otherwise involves considerable risk. Therefore, before deciding to participate in any style of trading, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose. Consulting with your investment counselor, attorney, accountant or other professional upon whom you rely for guidance as to the appropriateness of an investment in any style of trading is recommended.

Tradeview Ltd.

Is licensed to carry on securities investment business and is regulated by the Cayman Islands Monetary Authority (CIMA) as a full securities broker-dealer. Tradeview conducts business pursuant to the Cayman Islands Securities Investment Business Law (SIBL) and its activities fall under the direct supervision of the Investments and Securities Division of CIMA.
Headquarters: 5th Floor Anderson Square, 64 Shedden Road, Georgetown, Grand Cayman, Cayman Islands KY1-1002, BWI.

TVM Global Ltd.

Is licensed and regulated by the Labuan Financial Services Authority (FSA) as a Money Broker, registration number LL15870 licensed to facilitate transactions in foreign exchange pursuant to Labuan Financial Services and Securities Act 2010, the Labuan Companies Act 1990 and the Labuan Business Activity Tax Act 1990.
Headquarters: International Business Financial Centre at Office 5, Jamie Business Center I, Unit F10, First Floor, Paragon Labuan, Jalan Mustapha, 87000 Labuan F.T.

Tradeview Europe Ltd.

Is licensed as a Category 2 Investment Service Company and is regulated by the Malta Financial Services Authority (MFSA). The Malta Financial Services Authority (MFSA) is the single regulator for financial services in Malta. MFSA is a fully autonomous public institution and reports to Parliament on an annual basis. The MFSA is a member of the European Banking Authority (EBA), the European Securities and Markets Authority (ESMA) and the International Organization of Securities Commissions (IOSCO) and is a signatory of the Multilateral Memorandum of Understanding with other European regulatory Institutions. Tradeview is authorized to provide financial services across multiple asset classes and is passported in the EU/EEA under MiFID II (EU Markets in Financial Instruments Directive).
Headquarters: 157 Archbishops Street, Valletta VLT Malta 1440.

Tradeview Financial Markets S.A.C.

Is authorized to conduct business pursuant to and in compliance with the General Law of Companies (LGS) promulgated by the government of Peru. Tradeview Financial Markets S.A.C is registered with the National Superintendence of Public Registries (SUNARP), company number 13089531. Tradeview Financial Markets S.A.C provides financial services in selected OTC derivative markets in compliance with all applicable government regulations.
Headquarters: Los Mirtos 239 Urb. San Eugenio, Lince, Lima, Perú.