hillfronter83

The big difference is that the interests of Chinese government and its people are not aligned. Chinese people (shareholders) get a much smaller piece of its GDP. Here is a good thread for understanding the fundamental issue with Chinese economy. And here is the link to the original article in Chinese. http://m.xugaoecon.net/nd.jsp?id=16

No idea. Can't find any news or disclosure. Someone dumped 280m shares (about 1000 times average daily volume or 10% of shares outstanding) in about 10 minutes yesterday before closing bell.

how often do we see billion$ market cap wiped out in 10 minutes? https://finance.yahoo.com/quote/1252.HK?.tsrc=fin-srch

Just came back from my two-week trip to China. It's the first time seeing my family and friends in more than four years. Stayed in a small city near Shanghai and travel around in the region. Here are some observations: Overall economy is very challenging, although some high end restaurants seem to be doing fine. real estate will be doomed for years to come according to a real estate company executive friend. Even rural areas have a lot of high rise apartments (around 30 stories). I suspect these will be very costly to maintain and most Chinese are known for their frugalness. Don't feel good about the value of these building in 20 years. and most people i know already have multiple apartments. world class infrastructure everywhere, ie high speed rail, subway, etc. some of those projects were built to increase land value. While they look great, I'm not sure about the economic soundness. They are also very costly to maintain. e-commerce is very active, many people do grocery online nowadays. It's hard to increase consumption. most wealth is concentrated in people born in 60s, 70s. They grew up frugal and most people don't feel the desire to consume. The biggest spending is on food, but you can only eat 3 meals a day. secondly, the income decease is very real. a few years ago, local government employees were making over RMB300k, now it's about half, sometime lower. most people are stressed except the retirees. rich people (some centimillionaires) are worried about their shrinking net worth. and poor people are working 10-hour days to make their mortgage payment. although national birth rate are low. people i know are still having kids. but it could be they are local in a small city that is more affordable. most of the wealthy people's kids are living/studying in US or Europe. some of my friends, who used to drive BMW, Audi, are now driving Chinese made EVs.

about 37% across several accounts.

Certainly not a small fry. This is the founder of QIHU, which he took private from US exchange for $9 billion in 2016 and relisted in China for about 300 billion RMB, which is worth about 70 billion RMB.

Ludashi is a Chinese software company trading in Hong Kong (ticker 3601). It's a net net with about 300 million RMB market cap and over 500 million cash and no debt on its BS. On 9/11/2023, it announced a board meeting and a special dividend. In the following week, Stock surged >70% from HKD1.1/share to HKD1.9/share. On 9/20/2023, stock price suddenly plunged more than 40% to HKD1.2/share with heavy volume. On 9/21/2023, the company announced that its major shareholder with over 30% shares had just dumped 12.77% of shares to the market. And then on 9/22/2023, the company announced that the board meeting is canceled and there will be no special dividend due to "unusual fluctuation in the price and trading volume of the shares of the Company". Well played, insider!

Did people forget Hu Jingtao got hauled away in front of the whole world not long ago? To think any elder can pressure Xi is just laughable.

"Too young, too simple. Sometime naive!"

Name me a western political party that has similar influence on AMZN as CCP on BABA.

In the picture is the entrance to the Zhongnanhai, where high Chinese officials live and work. It's not an accident that the slogans on the wall are from culture revolution era (Long live CCP! Chairman Mao's thoughts are invincible!). CCP is the same party as decades ago. The main goal is and always will be to stay in power. So the "reform" and "regulations" are all means for achieving such goal.

As long as those slogans are still on such landmark in Beijing, nothing fundamentally changed for CCP.

https://themarket.ch/interview/george-magnus-china-will-not-be-able-to-de-dollarize-under-xi-ld.9180

I work on one of the most conservative investment products. In the last few years, many pushed for longer duration and lower quality just to receive a few more basis points a year. That is a few hundred dollars for every million$. But these a few basis points means a lot in rankings. And executives need to justify their fat salaries and consultants their fees!

This guy is one of the most influential banker in China. https://www.reuters.com/business/finance/china-renaissance-says-it-is-unable-contact-chairman-bao-fan-2023-02-17/

About break even. GLTA!

Hi, Can anyone recommend a broker that can trade convertible bonds? They are not available on Interactive Brokers. Thanks!

Which brokers do you use for bond trading? It seems many convertible bonds are not available at Interactive Brokers, for example 98426TAF3.

https://www.cnn.com/2022/11/03/business/germany-china-olaf-scholz-visit-trade/index.html

It's not about what he says. Everybody supportive of economic reform were pushed out. There will be fundamental changes in the country's direction going forward and nobody can stop him now.

I started running in 2015. Spent $1.99 on an APP called 5K Pacer that trains you to run 5K without stopping. 7 years and more than 10K miles later, I never felt better fitness wise. Nowadays, it's the first thing that starts most of my days...

Top China Strategist Sees Stocks in Limbo as GDP Growth Slows to 2% Hong is one of the top China analysts. Fired from his job because of his bearish view of Chinese market and banned from all social media. He is quite active on twitter since started "vacationing". Worth a follow IMO.

This involves a bunch of trades lasted about an hour so it's not a single mistake. The disturbing fact is that there is little transparency in the whole process. I only got an email informing the ruling without process/contact information for appeal, etc. The forfeited gain was mid five figure dollar amount. So if any entrepreneur lawyer familiar with Frankfurt Exchange is interested, feel free to contact me and I'm willing to split potential profit. Coincidently, I bought a very small position in PTPI last week when its price more than tripled after someone released fraudulent merger news. If you ask me this is a case that trades should be busted. When I asked my broker, they said NASDAQ decided that trades would stand.

I got a few of my trades cancelled by the Frankfurt Stock Exchange due to "erroneous price". The other party clearly wasn't paying attention to the company announcement. I guess that they found out afterward and contacted the exchange. The exchange ruled that the execution price was "erroneous" and had my broker cancel the trades without consulting me. Now IB is telling me there is nothing they can do. I guess under certain circumstances, a trade can be cancelled such as exchange system malfunction, etc. And I have been in the losing end of many trades when I make mistake: entering wrong price, forgetting to cancel a GTC order, especially with those illiquid penny stocks. So to me a mere mistake is not an excuse to cancel a legitimate executed trade. Did anyone here have similar experiences?

I'm using the same numbers. My calculation shows they have investments (SPOT, UMG, WMG) and cash worth about $2.96/share. So it's almost a net net stock for the biggest online music platform in China (>50% market share). But obviously there are macro risks I don't know how to value hence only a lottery ticket position for now.