Five Things You Need to Know to Start Your Day

China sanctions Trump officials in parting shot. Mainland investors lap up Hong Kong stocks. Australia gears up for a big IPO season.

China imposed sanctions on former Secretary of State Michael Pompeo and other Trump administration officials just as Joe Biden was being inaugurated as president. China also urged cooperation with Biden’s administration and said it hoped new U.S. officials would make their own judgments on Beijing's control in Xinjiang. Although Biden and his team are unlikely to match the harsh rhetoric leveled by Pompeo recently, they have indicated they aren’t ready to ease tensions as much as China’s leaders would want. Meanwhile, here's how Biden's inauguration speech went down before he quickly moved to rejoin the Paris Climate Agreement, and this was Trump's final farewell.