May has been intense for markets.
We sadly did not do as well and underperformed the broader indices.
The reason is that I added a significant amount of cash into my account, and did not deploy it as markets rallied throughout the month.
I did not see it rip so high so quickly so thought I'd wait a bit and that's what happens when you're not reactive to such momentum unfortunately.
BUT, this will happen every now and then clearly. You can't always be on top of it all, and May was one of those times.
I do want to apologize though to those who follow and copy me, June will be better.
I am looking at what will constitute my portfolio going forward and what to do with the ~70% cash in hand. Looking to buy some crypto back with $ETH
Also might trim our top position in $NVDA (NVIDIA Corporation) to look rotate out of those top performers.
Having said that, here is a quick update today out of Asia,
HSI +1.8% | HSTECH +2.5%
Strong start for HK in 1st trading session of June, with surprise beat in Caixin PMI data helped boost sentiments. The data showed manufacturing PMI came in at 51.7 (vs expectation at 51.6) which was the highest reading since Jun 2022, marking the 7th month of expansion in a row.
HSTECH +2.5% had its best day in a month thanks to continued strength in Semiconductors and reversal of fortunes in Internet shares.
Rebound in Tencent +4.2% $0700.HK (Tencent) after the company denied reports from last week that Chinese government asked Tencent to lower market share of its WeChat app...
I expect HK to perform nicely, especially with the key forthcoming events : the July 3rd Plenum and politburo meeting.
More positive news might come toward the property space particularly.
To be monitored closely.
That's it for now, happy trading to all!
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