Glenn Jorgensen
𝐆𝐨𝐨𝐝 𝐧𝐞𝐰𝐬 𝐟𝐫𝐨𝐦 π‚π‘π’π§πš The last couple of days have been hard on Chinese equities. It is fueled by global banks needing clarity on the regulations for Chinese companies to IPO overseas. Today we have the news that CSRC (the Chinese SEC) has met with global banks. And while not much has been said about the meeting, we got a few news. Regarding regulations, CSRC said: "That China's leadership understood that the regulatory changes Beijing introduced in 2021 would affect economic growth but was determined to tolerate the pains. However, 2022 will be different year as it will have a series of significant events, including the key once-in-five-years Communist Party congress later this year". Even more important, we got these news about the cooperation between the CSRC and SEC, and I guess there is referred to the access of the audit papers: "Fang also told the executives that China and the United States were making progress in coordinating regulations governing Chinese companies listed in New York and there could be a "positive surprise" by June or earlier". If the CSRC and SEC can come to an agreement on the audit papers, it could be a great catalyst for Chinese equities, as the holding foreign companies accountable act will pretty much be indifferent. Let see how out Chinese equities will perform today. Looking at premarket $BABA (Alibaba) is slightly up but $NIO (Nio Inc.) is down. I guess we need something more concrete. Nevertheless, the news are encouraging. Should you buy $BABA now? You can read my thoughts here: www.investseekers.com/post/charlie-munger-just-doubled-his-position-in-alibaba-is-it-time-to-buy Last night we had $V (Visa) announcing their earnings. I haven't had the chance to look at htem in details but at first glance they look good. I will also need to read the conference call transcript. The market seems to like it as well, as $V is up 4 % premarket. The European market is down and I took the opportunity to add to our position in $PRX.NV (Prosus NV) and $ATO.PA (Atos SE) . I'm still building the $PRX.NV position while I will probably only add to $ATO.PA if it drops further.
Like CommentShare
2 replies
1 reply
null
.