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Will it be UP UP UP come next Monday 14th June 21?
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chartistkao1
Supreme |
15-Sep-2021 03:46
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Indeed, Mr Xi' s speech in August - when he called for rationally " adjusting" excessive incomes and for high-income individuals and companies to contribute more to society - roiled not only global markets but also China' s billionaire ranking, wiping out billions of dollars in both instances. In the lead-up to the speech, Chinese regulators had already been targeting the tech and private education sectors. In July, Chinese regulators ordered private tutoring companies to register as non-profit organisations, while online tutoring agencies were subject to regulatory approval. Before that, they had also tightened regulations in the tech industry to tackle unfair competition, lax cyber security and predatory lending. In late July, China' s tech billionaires, including Meituan founder Wang Xing, Pinduoduo founder Colin Huang and Tencent chairman Pony Ma, saw their wealth plunge by a combined US$13.6 billion (S$18.25 billion), led by a sell-off in Chinese education and tech stocks. To investors, the policy adds new layers of uncertainty to a global market that was already reconsidering China' s fundamental investability. " As public companies donate billions of shareholder dollars to government projects, investors are left unsure of what it is they ultimately own," Mr Silvers told The Straits Times. Mr Hoffman Ma, executive director of Hong Kong-listed Success Universe Group, which is in travel, property and entertainment, said the move might have come as a surprise to many, but he thinks strengthening the governance of various mainland industries is " a positive direction for the Chinese economy" in the longer term. " Such regulations have been well-established in most of the Western market and obviously, in the mainland or Hong Kong, we didn' t have that," he added. Describing it as a " healthy exercise" , Mr Ma said the move could help smaller mainland companies that had been struggling to grow as bigger companies monopolised certain industries. The developments in the mainland could drive Hong Kong to explore opportunities outside its traditional strengths of property and finance, said Mr Ma, who is a member of the National Committee of the Chinese People' s Political Consultative Conference. " Hong Kong has ridden on the two benefits - property and financial markets that have been established - for too long and that has held back other opportunities to grow in Hong Kong," he told ST. An observer in the finance sector, who wished to remain anonymous, thinks the spillover to Hong Kong is " limited" . However, he added that he would not be surprised to see Hong Kong tycoons starting to follow the footsteps of the mainland conglomerates, such as Pinduoduo, Tencent and Meituan, in pledging billions worth of donations to low-income groups. And with greater risks in the mainland, investors based in Hong Kong and using the city to tap the mainland market will now demand higher potential returns from Chinese investments, he noted. Mr Silvers noted that benefits to Hong Kong would be slim if the common prosperity push deters offshore interest in China' s initial public offerings. Without strong foreign interest, the benefits of listing on the Hong Kong Stock Exchange as an exit plan, among other things, may not offset the more difficult listing criteria. " The China growth story remains as compelling as ever over the long term, but that has to be weighed against a system that is increasingly doubted by many investors," he said. |
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chartistkao1
Supreme |
15-Sep-2021 03:45
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HONG KONG - The stakes for profit hunters and tycoons in Hong Kong are now higher than ever as Chinese President Xi Jinping pushes for " common prosperity" in the mainland, in turn raising the question of whether the city will also face the same fate in time to come. Observers familiar with Chinese politics and the financial industry are divided on how the wealth distribution push in the mainland will affect Hong Kong, but most believe the risk factor for Hong Kong has risen, although the impact will still be limited. Fund house Kaiyuan Capital' s chief investment officer Brock Silvers noted that the push for common prosperity may be a great deal for the Chinese society, but for the financial markets, it is an " ominous sign" . |
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albeniz
Veteran |
10-Sep-2021 09:30
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Ho Say liao! | ||
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chartistkao1
Supreme |
10-Sep-2021 09:30
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top glove finally clear by the us godfather can start selling rubber to the godfather again | ||
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vicloo
Elite |
13-Jun-2021 11:30
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I think cause of Bursa limit.. the most 30% daily up... that 6.1 riggit n 1.98 sgd... hope it happens.. 68%? unlikely i think
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sutiono
Veteran |
13-Jun-2021 11:11
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Theoretically speaking TG should trade at RM7.7 tomorrow . S$2.48 . Will this happen ? |
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vicloo
Elite |
13-Jun-2021 10:34
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US bankers will need to buy TG in msia to fuifill 2.9mil usd orders friday (in ranges of 5 to 8)... these US Bankers will make a lot of money from the differences 😁 . Adr explained in link below.
https://youtu.be/rvQsZCqD0Wc |
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qianhn
Member |
12-Jun-2021 19:32
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what do you mean? any good or bad news? | ||
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