Shares in China’s Evergrande Group have been suspended from trading in Hong Kong, the property developer announced on Monday. The company did not give a reason. Leaving us to speculate and there’s plenty to speculate with. Evergrande missed new coupon payments of $255 million due last Tuesday–and that’s just the beginning
In other years this would clearly be the time to jump into China stocks. What we have right now is a classic, tried-and-true set up for big gains from buying China stocks. With a “but” or two that suggests a cautious strategy. But I will be buying shares of Tencent Holdings and the FXI ETF on Monday, January 3.
I’m starting up my videos on JubakAM.com again–this time using YouTube as a platform. My eighty-third YouTube video “A new trade war with China?” went up today.
On Friday news that China’s Internet food delivery giant Didi Global (DIDI) planned to delist its shares from the New York Stock Exchange hammered the stock in New York trading. Didi’s ADRs fell 22.24%. And other Chinese stocks with New York listings followed the path downward pioneered by Didi Global. Abibaba (BABA) closed down 8.29%. Tencent Holdings (TCEHY) slid 4.87%. And JD.Com (JD) dropped 7.71%.
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.
The Chinese government reported today that the country’s economy slowed more than expected in July. Retail sales were crimped by tough new virus restrictions introduced toward the end of the month to contain fresh outbreaks. Retail sales rose by 8.5% near over year. Analysts had expected growth of 10.9%.
I’m starting up my videos on JubakAM.com again–this time using YouTube as a platform. My thirty-ninth YouTube video “Will China sink global stocks”-went up today.
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.
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.
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.
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.
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.
