China In Focus : What Singles Day ? Christmas Time Is Here !
I have wondered what is the big deal about Singles Day ?
And why should I be spending money on Singles Day ? At this rate, I would be broke if I did, being single and shopping to celebrate that fact which brings to mind if age and Singles Day shopping is correlated ? Because if it were, perhaps it will be not so vibrant in a future of 50 year old singles for China ? Not unless Alibaba comes up with a “Shop for a Spouse” product on their website ? (*****GREAT BUSINESS IDEA !! ******)
Louis C.K.’s words of wisdom : “I love being divorced. Every year has been better than the last. By the way, I’m not saying don’t get married. If you meet somebody, fall in love and get married. Then get divorced. Because that’s the best part. Divorce is forever! It really actually is. Marriage is for how long you can hack it. But divorce just gets stronger like a piece of oak. Nobody ever says ‘oh, my divorce is falling apart, it’s over, I can’t take it”
I really cannot keep up with China but I know that the Shanghai-Hong Kong connect is going live on 17 November and capital gains will be tax exempt and thus, the SHCOMP has broke a new 2 year high and Alibaba has now the 7th largest market cap in the world and they are issuing bonds (so soon ? roadshow on 18 Nov in Singapore). http://online.wsj.com/articles/alibaba-to-offer-unsecured-notes-to-refinance-some-of-its-debt-1415890968
Singapore is rushing after the Alibaba’s now after missing out on them in 2003. One of the BIG NEWS is the changes to company registration here to abolish the 1 share 1 vote system = WELCOME ALIBABA’s of the future.
[And I bet the first country in the world to declare Single’s Day a national holiday will have Alibaba listing their spin offs there. ]
The coast looks clear now with the CNH and CNY spread closing up even with the relatively weaker data out of China this week.
And we have to thank our contributor Zico for his wonderful stock recommendation on China Taiping Life (966 HK) which has risen some 15% since mid Oct. https://tradehaven.net/market/zico-special-after-the-stand-off-china-taiping-insurance/
Following the APEC summit in Beijing, we will move into the G20 in Brisbane and the meetings will continue and optimism will flow that will support the stock market in the near term, like we pointed out last week. https://tradehaven.net/market/china-in-focus-the-force-awakens/
I would still stick to a nimble approach in markets as far as stocks are concerned given the highly skittish nature of markets and global politics too, for that matter, these days. In fact, fund managers were heard suggesting the “buy on rumour, sell on fact” approach to the Shanghai-HK euphoria.
And it looks like nobody’s attention will be on bonds for a while as the Chinese banks continue to turn on the pump on new issues which are all not bad if you ask me.
Good luck !
CNH Bond Prices (Indicative)