Today's Top 5 Overvalued Stocks

By taking advantage of timing, you can position yourself for a massive windfall or avoid potential losses. Today we look at the top 5 overvalued stocks that analysts expect to drop in price.

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Chinese Fighter Jets Shadow US Navy Aircraft Over Taiwan Strait Amid Escalating Tensions: 'Will Resolutely Defend National Sovereignty And Security...'

Benzinga Neuro
April 17, 2024

The Chinese military dispatched fighter jets to shadow a U.S. Navy patrol aircraft flying over the Taiwan Strait. This move comes amid escalating tensions between the two nations over the disputed territory.

What Happened: The U.S. Navy’s 7th Fleet confirmed that the P-8A Poseidon maritime patrol and reconnaissance plane, which is also used for anti-submarine missions, flew over the strait in international airspace, reported Reuters.

“By operating within the Taiwan Strait in accordance with international law, the United States upholds the navigational rights and freedoms of all nations. The aircraft’s transit of the Taiwan Strait demonstrates the United States’ commitment to a free and open Indo-Pacific,” the fleet stated.

China, claiming sovereignty over Taiwan and jurisdiction over the strait, described the flight as “public hype”. The Eastern Theatre Command of the People’s Liberation Army stated that it had sent fighters to monitor and warn the U.S. plane and “deal with it in accordance with the law and regulations”.

“Troops in the theatre are always on high alert and will resolutely defend national sovereignty and security as well as regional peace and stability,” the PLA said.

The flight occurred shortly after a call between U.S. Defense Secretary Lloyd Austin and Chinese Defence Minister Dong Jun, marking their first engagement in over a year.

The Taiwan issue remains a constant irritant for Sino-U.S. relations, with U.S. military ships and aircraft transiting the narrow Taiwan Strait about once a month.

See Also: ChatGPT’s China Rival ‘Ernie Bot’ By Baidu Surpasses 200M Users Amid Fierce Competition

Why It Matters: The recent incident follows a series of events that have heightened tensions in the region. In March, Taiwan reported the construction of extensive Chinese military installations near its territory. This revelation escalated regional tensions and raised concerns about China’s intentions.

Adding to the strain, in early April, Chinese state media was accused of spreading unverified reports about Taiwan's President Tsai Ing-wen planning to escape in a U.S. plane if war breaks out with China.

However, a glimmer of hope appeared when on Apr. 11, former Taiwan President Ma Ying-jeou expressed optimism that Taiwan and China can resolve their differences amicably, following a meeting with Chinese President Xi Jinping.

Interestingly, on the same day, trade data revealed that the U.S. had become the leading destination for Taiwanese exports, overtaking China for the first time in over two decades.

These developments underline the complexity of the situation in the Taiwan Strait, with the recent U.S. Navy patrol flight and China’s response adding another layer to the unfolding narrative.

Read Next: Honda Continues Its EV Push With Attempt To Rejuvenate Its Positioning In China

Image Via Shutterstock


Engineered by Benzinga Neuro, Edited by Kaustubh Bagalkote


The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.


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