Good evening and welcome to Markets Desk, your close-of-day read on what moved the needle.
China's wealthy are feeling the heat as Beijing intensifies its crackdown on offshore wealth. The sweep has unsettled high-net-worth individuals and the private banks and family offices operating across Hong Kong, Singapore, and Tokyo that manage their fortunes, raising real questions about capital flight and regional financial stability.
Shifting to healthcare, VillageMD has offloaded another twenty-seven primary care clinics to Harbor Health, a Texas-based operator that runs both clinics and health insurance plans. The deal price was undisclosed, but the transaction signals a continued retreat by VillageMD as Walgreens-backed primary care expansion faces mounting pressure to rationalize its footprint.
And in loyalty program news, Alaska Air's investor day delivered more than just aircraft upgrades. The carrier announced changes to its Mileage Plan that could complicate life for American Airlines AAdvantage members who rely on the Alaska partnership, potentially prompting frequent flyers to reassess where their loyalty dollars actually land.
That's the tape. Markets Desk, signing off the floor.
