Share this page!

Trinh Profile picture
Twitter logo
19 Jan, 4 tweets, 2 min read
HSI surpassed the KOSPI to be best of Asia today (KOSPI was best of the world until the bubble got deflated by officials ending short selling in March). πŸ’₯

For most of Asia, January has been great. Look at Indonesia!!! Not bad for January!
Good morning! Today is 19 January 2021 & this is where we are for global equities:

Best: Asia! Specifically HSI πŸ‡­πŸ‡° (fueled by mainland buyers)! πŸ’₯πŸ’₯πŸ’₯πŸ€—πŸ˜ Second best, Vietnam (supported by everyone, including retail πŸ‡»πŸ‡³!3rd best, Taiwan!

Vietnam grew 2.9% in 2020! Best in Asia!
Losers in USD: Argentina πŸ˜¬πŸ‡¦πŸ‡·, Korean tech (KOSDAQ) & Malaysia πŸ‡²πŸ‡Ύ & US tech.

So there you go: THE GREAT ROTATION Asia macro styleπŸ€—.
Why is HSI doing well? Simple answer is more buyers than sellers (mainland ones). But the fundamental reason is in a world flushed with liquidity, it's one of the cheaper ones (relative to itself & relative to global). HSI was a laggard in 2020 vs mainland & world!

Back to 2020!

β€’ β€’ β€’

Missing some Tweet in this thread? You can try to force a refresh
γ€€

Keep Current with Trinh

Trinh Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @Trinhnomics

Trinh Profile picture
20 Jan
Thanks to everyone that helped (we're still in the dark for most of employment in India, which is informal). Speaking of which, one of the distressing news out of India is its trade policy. Raised import duties in 2020 & more to come! What about exports?

reuters.com/article/india-…
India has the lowest exports as a share of GDP in Asia (exports in nominal value is not that much higher than Vietnam a country that is 1/10th its size) & meanwhile it raised imports for so many items + adding more soon in the budget according to Reuters!

reuters.com/article/india-…
Rumors that India would lower personal income tax but that only impacts formal employment (most labor market is informal). By raising import duties, it is raising taxes indirect & that is a very regressive form of taxation as it taxes the poor more.

indiatoday.in/business/story…
Read 4 tweets
Trinh Profile picture
18 Jan
Good morning: Some good news from Singapore regarding trade in December (China had that last week). Today is China data dump (comes out in 17 mins) and GDP (lagging indicator) should bounce & eyes are on retail sales for December as well as FAI.
Consensus expectations of China retail sales in December is 5.5% & we know the US underwhelmed w/ 2.9% (direction is downward as stimulus fades & suppression measures intensify as well as worse job condition). People are waiting on what Biden et al will do, esp US 10yr & stocks!
China retail sales in December rose less than expected by 4.6%YoY, expectations 5.5% 😬
Read 6 tweets
Trinh Profile picture
15 Jan
Good morning! Another sunny & cool day in Hong Kong 🌞to make the end of the 1st 2 weeks of January.

Shall we look at where we stand? Let's looksie! Here is global equity return in USD. Guess who is best?

Russia, Kospi (Korea), Vietnam, Indonesia, Taiwan, & Thailand. So Asia!
Remember that this is the GREAT ROTATION TRADE (oil, commodity & real economy, meaning EM up) & so the losers so far are Kosdaq (Korea tech) & Nasdaq (US tech) as well as Argentina.

The question then is, is this warranted given the raging pandemic outside!
Let's look at Asia (skipping US, EU PMIs & we'll talk later), which has done BEST in asset price movement so far in 2021, real economic activity to see if this euphoric 2-week start is matched by data.

Manufacturing PMI for Asia shows improvement (purple line > grey) esp for ID.
Read 13 tweets
Trinh Profile picture
14 Jan
🀣 So Twitter CEO admits he has too much power, as in internet companies in general, as in 1 person, him, having too much power over the public, billions of people, & his answer is to NOT CURB HIS POWER but BITCOINπŸ€—πŸ‘ˆπŸ».

He must think we're all stupid, maybe we are. Maybe...
Do u know how u can take back power from internet companies/social media companies other than lobbying for congress rep etc via regulations? Spend less time on it. I use my mobile only as a landline, no apps & no Twitter other than during work. No FB & Insta. Screen time <1hr/day
On top of spending less time staring at ur mobile vs being present & use the internet & social media for the positives they bring vs the negatives (caring for randos' approval), u must take back control & make time for real life & other activities. Boundaries are key to happiness
Read 6 tweets
Trinh Profile picture
14 Jan
Good morning! It's a warmer & less cold day in Hong Kong 🌞. I can sense that people are fed up with lockdowns, esp in the West. In HK, it's 1 year for us now living on the island. Anyway, who's the biggest winner of Covid? China

Exports +18.1%YoY & demand up across the world.
Those are details of %YoY growth (2020 December vs 2019 December) and so relative to before Covid China is exporting double digits higher in aggregate in USD & demand is even more in some than others.

Manufacturing > Services as services got locked down!!!
Loss of service income is IRRECOVERABLE. Can't store haircuts/nails/spa/trips that u didn't take. Hence in developed markets, esp the US, talk of fiscal stimulus/unemployment support/etc is gaining traction again as suppression measures are strong.

Manufacturing strong though.
Read 6 tweets
Trinh Profile picture
12 Jan
Let's all agree on this: time for big tech to be regulated, as it is a threat to our society of too much power & money concentrated in a few men. And u know what Paul V'lery said? Power loses its allure if not abused. πŸ‘ˆπŸ»πŸ‘ˆπŸ»πŸ‘ˆπŸ»

Bipartisan issue!!!

ft.com/content/e7c1a6…
Let's start w/ the repeal of Section 230, which is supported by both Biden & Trump.

And we can do much more. They now have to power to ban an elected president free speech.

It was so disturbing that Merkel, who grew up under communism, is perturbed.
Next, to curb the power of big tech, we need to reform our election process & specifically campaign finance reform.

Long overdue & large corporations, especially big tech, have too much power over the people & a huge threat to our democracy.
Read 5 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!

Like this author's thread?

Get emails when @Trinhnomics has new unrolls!

Check out other threads from @Trinhnomics!

Read all threads by @Trinhnomics