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Posts Tagged ‘China stocks’

Beijing takes one more swipe at overheated Chinese stocks today

The Chinese economy returned to growth in the second quarter with gross domestic product climbing 3.2% in the quarter from the June quarter of 2019. That was a recovery from the 6.8% drop in GDP in the first quarter and the results beat projections for 2.4% growth. Nonetheless, stocks fell in Shanghai and Shenzhen today […]

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China is giving away free money–and here’s a stock pick to take advantage of that

Of course, China's government isn't exactly giving away money. But Beijing has embarked on one of its periodic efforts to talk stocks in Shanghai and Shenzhen and Hong Kong higher and then higher some more. On Monday July 6 the CSI 300 Index, which tracks the 300 largest stocks by market capitalization on the Shanghai […]

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China powers “risk on” rally

Chinese stocks are burning up the track--and that has led the way to a shift toward "risk on" assets across global markts. Today alone the Shanghai Composite Index was up 5.71% as of noon New York Time. This continued as streak that has seen the CSI 300 Index gain 14% in five days. (The index […]

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Meituan Dianping shares up 17% today on earnings report

As of 1 p.m. New York time today Meituan Dianping (MPNGF) shares were up 17.52% after the company reported better than forecast sales of 16.8 billion yuan ($2.4 billion) for the quarter that ended on Mach 31. The company reported a lower than projected loss of 1.58 billion yuan ($221 million.) Year over year revenue […]

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People’s Bank says it will resort to “more powerful” policies to stimulate China’s economy but leaves details vague

Think of it as a first step toward a policy move and not as an actual plan for action. In its quarterly monetary policy report released Sunday, the People’s Bank of China said it will resort to “more powerful” policies to counter unprecedented economic challenges from the coronavirus pandemic. The central bank will “work to […]

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Buying Meituan Dianping in my Volatility Portfolio on Monday

I'm buying  Meituan Dianping (MPNGF) on prospects for a China rally and on a gradual return of consumer confidence in China. The company, backed by Tencent Holdings (TCEHY), said that its food delivery business began to recover in March, when shuttered restaurants re-opened and as Chinese consumers slowly got over fears that delivery workers might […]

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5 MORE smart, short-term moves while we wait for longer-term trends to resolve

In my recent post "What do you do when the market is insane and you're not?" I argued that one of the dangers in a very volatile market with strong--and temporarily profitable--short-term trends is that we'll give in to the pressure to do something--and do something that will cost us money since we'll be late […]

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China GDP plunges by 6.8% in first quarter

China's gross domestic product contracted by 6.8% from a year ago in the first quarter. Economists had projected a 6.0% drop. The decline was the worst since the government began releasing quarterly GDP numbers in 1992. Other numbers in today's data dump were equally grim. Retail sales fell 15.8%. Investment in fixed assets was down […]

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Removing Luckin Coffee from my list of Buy on the Dip future opportunities on 75% loss today

This morning the board of Luckin Coffee (LK), the fastest growing coffee brand in the world, announced that it had told the U.S. Securities & Exchange Commission that it had initiated an internal investigation into the possibility that former  COO, Jian Liu had inflated revenues by more than $300 million. Expenses at the company may […]

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The odd mini rally in China stocks

It was less obvious today when there were other splashes of green among global stocks. But on Monday and Tuesday, the trend was readily apparent since so few stocks moved up on those days and so much of the market was colored a bright red. Oddly enough some China stocks were in the green on […]

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