Crash In Hong Kong Shows ‘Mr. Market’ Clueless On Xi
Chinese assets and, perhaps more aptly, the people who trade them, weren't amused with Xi Jinping's installation of one-man rule.
H-shares dropped more than 7% Monday, following the unveil of Xi's new Standing Committee, which I described Sunday as "a panel of committed loyalists, whose fealty to Xi will invariably supersede all other concerns in all matters."
Li Qiang, Party secretary of Shanghai, will likely replace Li Keqiang as premier. That means the man tasked with overseeing a sweeping
The rout in in Chinese tech giants is really something hard to grasp. I stopped paying much attention to these ticker symbols when I decided I could not invest or trade these stocks given uncertainty with Xi’s policies. Looking at the charts again today after this refresher from H, I can’t help to be amazed and terrified even though I don’t own any and it comes as no surprise, some of these tech giants trade below their IPO price now, we might be witnessing the demise of private innovation in China, it is state approved or sponsored or it does not exist.
Frightening, indeed.
Luckily, China is one area (maybe the only area) of the global markets I think I have always correctly understood. I put it on my “do not invest here” list on the day Ma was “removed” from office.
Patiently waiting for H to talk more about the future global implications, including on the US stock market, as a result of Xi’s third term…..
“I could go on. And I will.”
Such a good sense of humor that our Professor possesses.