Watch my new You Tube Video: 3 China stocks to buy but not now
I’m starting up my videos on JubakAM.com again–this time using YouTube as a platform. My forty-second YouTube video “3 China stocks to buy but not now”-went up today.
Selling Meituan and Naspers to cut China exposure
Last Wednesday, July 28, Chinese financial regulators told big investors–banks and investment groups heavily exposed to China’s stock market–not to worry. China’s financial markets were sound and despite the fears engendered by the government’s crackdown on the country’s private, for-profit, education companies, the government was not looking to reverse decades of growth by companies in China’s private sector. The meeting worked. Stocks of companies like Meituan (MPNGF), China’s dominant food delivery company (with ambitions to become a full-range e-shopping competitor) rose to $30.07 on the day from $26.00 the day before. But the reassurance worked for only a few days. Today, August 3, for example, Meituan was back in the red, falling 4.48% to $26.95 to erase almost all of its “re-assurance” bounce. Today, I’m selling Meitun and Naspers (NPSNY), a South African company with a huge position in China’s Tencent Holding (TCEHY) out of my Volatility and Jubak Picks Portfolios, respectively.
Watch my new YouTube video: Is China un-investable?
I’m starting up my videos on JubakAM.com again–this time using YouTube as a platform. My thirty-sixth YouTube video “Is China un-investable?”-went up today.
China GDP growth misses but not by as much as feared
China’s economy grew by 7.9% in the second quarter of 2021 from the second quarter of 2020. That was a huge slowdown from the 18.3% year over year growth in the first quarter. No one had expected that growth surge from the end of pandemic lockdowns to be duplicated this quarter. Before the report economists surveyed by Reuters were looking for GDP to grow by 8.1% in the quarter. So today’s report contains a slight miss on projections but it is be no means a worst case scenario, especially since other economic numbers were stronger than the GDP reading.
Watch my new YouTube video: “Buy Tencent after the fine”
I’m starting up my videos on JubakAM.com again–this time using YouTube as a platform. And, with this week, I’m adding a second shorter video (market events permitting) that will focus on a single stock or two. The thirty-first YouTube video “QuickPick: Buy Tencent after the fine” went up today.
China cracks down on Internet ride app DiDi just days after its New York IPO
Just so nobody thinks China’s government is finished with its crackdown on the country’s big Internet technology companies… Two days after DiDi Global (DIDI), China’s dominant Internet ride-hailing platform, went public on Wall Street, China’s Internet regulator suspended new user registrations on the platform while the government conducted a “cybersecurity review” of the company.
More, more (stimulus), cries the stock market
Yesterday stocks moved higher on news that President Donald Trump had actually signed the combined coronavirus stimulus/relief and government spending bill. I guess after contemplating the possibility of no bill and another government shutdown, even $600 checks seemed like a big deal. Today, not so much. Worries that Republican Senate Majority Leader Mitch McConnell will prevent the House-passed bill increasing the size of those checks to $2,000 from even coming up for a vote on the floor of the Senate were enough to trigger a mild retreat in stock prices.
Welcome back Santa Claus rally
With President Donald Trump signing the coronavirus stimulus/relief and fiscal 2021 government spending bill, financial markets can go back to their favorite holiday week activity–using the opportunity afforded by shrunken volumes to push up stocks. As of the close on December 28 in New York, the Standard & Poor’s 500 was up 0.87% and the Dow Jones Industrial Average was ahead 0.68%. The NASDAQ Composite was higher by 0.74% and the NASDAQ 100 had gained 1.01%. The Russell 2000 small cap index was a laggard with a 0.38% loss. The iShares MSCI Emerging Markets ETF (EEM) also lagged on continued Alibaba (BABA) turmoil in China with a gain of just 0.28%. Too soon to tell decisively, where the very short term action will be, in my opinion. But the day’s action is suggestive of where we can look for gains.
Everybody leaves Washington with everything still hanging fire, but markets still assume President will sign coronavirus bill
Congress dispersed for Christmas. President Donald Trump headed to Florida. And there’s still no telling whether President Trump will, as he’s suggested via Twitter, whether he will veto the huge coronavirus relief/government spending bill.
Record Singles’ Day sales support growth optimism on China
By the time Taylor Swift closed down the festivities at midnight with the last of three songs, Alibaba (BABA) had recorded sales of $38.4 billion for the Singles' Day e-commerce shopping monster. This year's total beat out last year's record $30.8 billion in sales on...
Saturday Night Quarterback (on Sunday) says, For the week ahead expect…
...company specific events on Monday and Tuesday to start the week with a bang of news. First, there's the Singles' Day e-commence juggernaut that kicked off today (Monday in China.) Last year this shopping frenzy, which began as a day to celebrate being single (from...
