Five Things You Need to Know to Start Your Day

The U.S. moves to tighten disclosure requirements for Chinese listings. A hedge fund outperforms 98% of its peers thanks to one stock pick. And China's hottest tech stocks are set to move twice as much. Here are some of the things people in markets are talking about today.

A U.S. panel recommended tightening the disclosure requirements for Chinese companies listed on American exchanges, following mounting concerns about the potential exposure of investors to fraud. The group, known as the President’s Working Group on Financial Markets, has not established exactly how the new rules will be enforced, but the final consequence would be delisting, according to a senior Treasury official. One of the big issues includes an almost two-decade-old dispute over China’s refusal to allow the inspectors from the Public Company Accounting Oversight Board to review audits. Currently listed Chinese companies would have until Jan. 1, 2022, to come into compliance, while firms seeking a new listing will need to adhere to the new rules, officials told reporters Thursday.