And you counted who owned what votes, you could be forgiven for thinking that if the shares came from the right place, and the internal review effectively reiterates the previous report, and the strategic review is clean, Tosh would become a really nice activist target again.
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70,000 cases a day on a population the size of the US is equivalent to 1500-1700 cases a day in Hong Kong.
Hong Kong has had 12,000 cases... total. About 7-8 days' worth of the US on a population-equivalent basis.
HK has seen 213 deaths. About 1/80th the US rate per capita.
And I am told the 70k cases/day in the US understates the reality because of weekend/poor reporting. Actual numbers averaging 120k, which means HK's total caseload in 20mos is about 4-5 days of the current US rate on a population-equalised basis.
When people think about contagion, they should think about HOW whatever comes of this affects them and their life?
Will US equity owners see massive Chinese household selling of US equities based on this? No.
Will US bondholders
see massive selling of USTs by the Chinese govt to bail out the industry?
No.
Will Chinese consumers spend less on LVMH products? Maybe.
Will Chinese consumers stop buying premium Kona coffee, American furniture, American-made cars, etc? Stop. It was never a thing.
How about iron ore?
I've seen this one bandied about. It's a bit complex. Contango would NOT be the trade. Contracted sales this year are next year's construction demand for steel.
If you expect a total regime change in the amount of floor space constructed, that is 2023 biz.
...the issue between "good growth" and "bad growth" has effectively resulted in the asset base (and GINI coefficient allowing it) which triggers the warning that houses are for living in, not speculation. The debt growth has served local governments, developers, and has served as
the primary outlet for excess savings for a high nominal growth economy. IF land prices had been fixed, land auctions were by lottery, and price/sqm paid to local govts rose at CPI+0%, developer margins were fixed at cost plus 10%, and land without permits were returned
For people spreading around the Sinic Holdings (2103.HK) chart, thinking it matters... it doesn't.
look at the price chart for the previous 9mos, and how it moved during covid. It has always had tiny official float and even lower actual float.
Sometimes stocks have that pattern. Then they don't.
It isn't the market realizing something all of a sudden. There was no real market.
It is almost always a holder unable to keep holding it up and a margin loan getting called with collateral sold.
The PBOC in Nov 2018 in its Financial Stability Report singled out Evergrande, Fosun, HNA, Tomorrow Group as companies which control multiple financial intermediaries as well as