As ações asiáticas combinaram durante a noite, com as ações de expansão listadas em Hong Kong superando o baixo desempenho da Índia.
Na segunda-feira, os movimentos de expansão indexada em Hong Kong tiveram um dia, o índice Hang Seng ganhou 1,75% e o índice Hang Seng Tech ganhou 2,59% após o presidente dos EUA, Donald Trump, e o apelo do presidente da China, Xi Jinping, por essa posição após o fechamento da posição de mercado na Ásia e antes da abertura dos adiamentos dos EUA.
O vice -presidente JD Vance e Elon Musk se reuniram com o vice -presidente chinês que visitou Han Zheng, que é o componente do presidente XI e é um consultor de confiança. Foi antes da inauguração da segunda -feira, que ele participou. A mídia chinesa e o Wall Street Journal relatam que o presidente Trump deseja aprovar seus primeiros cem dias de mandato para a China.
A geopolítica impediu recentemente que as instituições norte-americanas e globais fizessem missões à China. Embora esses CFAs e MBAs saibam que compram ações chinesas de baixa avaliação, os seus fóruns e administradores recebem as notícias chinesas da Western Media Source, que permanece negativa devido à administração anterior. A multidão rápida não é sobrecarregada por profissionais de construção não financeiros e muitos já estão envolvidos, com base na Secção 13fs de várias cotações de cobertura de prestígio (sim, estão atrasados, por isso não podemos dizer por lei). Excepto para estes tipos de investidores, as alocações à China através de investidores norte-americanos são inexistentes.
U.S.-listed China equity ETFs have seen moderate redemptions month-to-date and for the last three months despite decent performance. Yes, there will be volatility. Yes, higher tariffs on subsidized goods such as solar panels and electric vehicles are likely. But, broad, 60% tariffs from a president who was elected because of high inflation? I don’t think so. Aren’t there strong indications already Trump and Xi can make a mutually beneficial deal? I think so. FX traders appear to agree as the Renminbi has appreciated versus the U.S. dollar.
Falamos sobre a JD. com colher os benefícios da expansão dos subsídios aos clientes para produtos eletrônicos, que é sua especialidade. JD. com ganhou + 7,3% ontem em uma atualização do corretor e + 0,64% hoje.
Real estate was the top-performing sector in Mainland China, where it gained +1.89% and Hong Kong, where it gained +1.71%. Developer Country Garden gained +17.53% in Hong Kong after it resumed trading. Developer Sunac gained +3.75% after restructuring an onshore bond. Meanwhile, state-owned developer Vanke gained +9.09% in Hong Kong and +7.45% in Mainland China after reporting that it will make an upcoming interest payment and news of support from its hometown local government of Shenzhen. Remember the stocks and the sector are now tiny, as we prefer the bonds over the stocks, due to the tasty yields.
Tencent was off -0.62% overnight on profit taking after Monday’s gain of +2.63%. Technology hardware, semiconductor names, and the Apple supply chain ecosystem benefitted from reports that Apple will lower its iPhone price to qualify for the subsidy and China’s government’s focus on assisting local semiconductor companies following the Biden administration’s export controls.
A parte continental está muito menos entusiasmada, com Hong Kong destacando o primeiro-ministro Gans Promitu Li para presidir uma reunião da Federação de Toda a Indústria e Comércio Chinês para ouvir “opiniões e sugestões”.
Após o final, Xi conversou com o presidente russo, Vladimir Putin. Os mega capitães dos bancos, da energia, do álcool e das telecomunicações foram fechados, enquanto as corretoras, os semicondutores, os equipamentos de comunicação e os equipamentos de comunicação são dominados.
After the close, CATL reported preliminary revenue between RMB 356B and RMB 366B, which was lighter than the estimate of RMB 374B and 2024 preliminary net income RMB 49B to 53B, which would represent an increase of +11.1% to 20.1%, year-over-year (YoY).
I have been skeptical of the TikTok saga based on a conversation back in 2019 when Congress first introduced the idea of the Holding Foreign Companies Accountable Act , i.e. forcing audit reviews by threatening to delist China-based American depositary receipts, or US-listed China stocks. Russian roulette with investor capital seemed a bit aggressive since the stocks’ shareholders were U.S. and global investors. In speaking to a friend involved in the ADR capital markets at that time, I asked what he thought would happen to the ADRs. He stated that nothing would happen, which struck me as surprising considering the media attention the topic was receiving. I pressed why nothing was going to happen, and he replied, “Because money rules the world, and there is more money to be made by keeping them than there is to be made by delisting them.” There was quite a bit of volatility, though ultimately, he was right.
Da mesma forma, não pensei que Tiktok seria banido, com base na desvantagem de que a dança dos pais de Tiktok pertence aos americanos. Os Estados Unidos e a justiça pessoal mundial financiaram o empreendimento. Quem orçamenta essas empresas? Potencialmente, a doação da sua alma mater, ou da sua fundação de caridade favorita, ou do grande orçamento de pensões da América. Abaixo está o conselho de administração da ByTedance. Já que outras pessoas parecem “adversários estrangeiros”?
Chart1
Embarrassingly, the Western media parroted this narrative to garner eyeballs on TV screens, newspapers articles and internet articles. It shows how little research is being done by the media at times. I believe big government and big media are closely aligned with one another as the two need one another to justify their existence. I don’t think the new president believes either are necessary. Yes, TikTok will likely be sold as these Western investors want to monetize their investment i.e. get out. An IPO makes more sense to me to maximize value, but we shall see. Trump has suggested a 50/50 joint venture as a viable solution.
The Hang Seng and Hang Seng Tech indexes gained +0.91% and +2.14%, respectively, on volume that decreased -8.30% from yesterday, which is 109% of the 1-year average. 308 stocks advanced while 169 stocks declined. Main Board short turnover decreased -16.06% from yesterday, which is 125% of the 1-year average, as 18% of turnover was short turnover (Hong Kong short turnover includes ETF short volume, which is driven by market makers’ ETF hedging). The growth factor and small caps gained more than the value factor and large caps. The top-performing sectors were Technology, which gained +3.17%, Real Estate, which gained +1.69, and Consumer Staples, which gained +1.34%. Meanwhile, Energy and Communication Services both fell -0.30% and were the worst-performing sectors. The top-performing subsectors were chip localization, semiconductors, and technology hardware. Meanwhile, building materials, the chemical industry, and petrochemicals were among the worst-performing subsectors. Southbound Stock Connect volumes were at 1.5X pre-stimulus levels, as Mainland investors bought a net $197 million worth of Hong Kong-listed stocks and ETFs, including Semiconductor Manufacturing International (SMIC), which was a moderate net buy, ZTE, Weimob, Tencent, and Alibaba. XPeng, Xiaomi, Meituan, and CNOOC were small net sells.
Shanghai, Shenzhen, and the STAR Board diverged to close -0.05%, +0.25%, and +0.83%, respectively, on volume that increased +1.82% from yesterday, which is 111% of the 1-year average. 1,891 stocks advanced while 3,093 stocks declined. The growth factor and small caps outperformed the value factor and large caps. The top-performing sectors were Real Estate, which gained +1.88%, Technology, which gained +1.64%, and Consumer Discretionary, which gained +0.92%. Meanwhile, the worst-performing sectors were Energy, which fell -0.70%, Materials, which fell -0.35%, and Consumer Staples, which fell -0.21%. The top-performing subsectors were communication equipment, leisure products, and electronic components. Meanwhile, education, steel, and highways were among the worst-performing subsectors. Northbound Stock Connect volumes were just above average. CNY and the Asia Dollar Index were slightly lower versus the US dollar. Treasury bonds fell. Copper fell while steel rose.
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