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> USA Stock Discussion v8, Brexit: What happens now?

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ozak
post Mar 26 2021, 01:12 PM

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Shit. This delisting will further cause people to fear on other China stock.

Biden policy will not soften as many thinks. It continues what Trump left.

When will it end? sad.gif


QUOTE
China Tech Giants Dive as Delisting Threat Joins Crackdown Fears

(Bloomberg) -- Tech giants from Tencent Holdings Ltd. to Alibaba Group Holding Ltd. dived after U.S. regulators revived threats to toss China’s largest corporations off U.S. bourses, compounding concerns of a widening domestic antitrust crackdown.

Alibaba slid almost 4% in Hong Kong Thursday, joining a U.S. selloff that wiped at least 20% off Chinese tech names including Tencent Music Entertainment and iQiyi Inc., Baidu Inc.’s Netflix-like streaming subsidiary. The Hang Seng Technology Index slid to its lowest since November before ending down just 1.2%.

Tencent, which on Wednesday sought to allay investor concerns about the fallout to its fintech division from growing regulatory pressure, slid 2.8% and has now shed more than $200 billion of market value since a January peak. Following Tencent’s fourth-quarter results, brokerages including Goldman Sachs, Macquarie and HSBC cut their price targets on Asia’s largest company for the first time in at least a year.

Read more: Tencent Dives Despite Assurances on China Antitrust Fallout

Baidu, the search giant that debuted in the city only on Monday, finished 9.7% lower while Alibaba-rival JD.com Inc. lost 3.6%. Food delivery giant Meituan, which reports 2020 results Friday, shed 1.6%. The losses followed a warning from the Securities and Exchange Commission that it’s taking steps to force accounting firms to let U.S. regulators review the financial audits of overseas companies -- the penalty for non-compliance being ejection from exchanges.

That threat worsened sentiment in China’s giant tech sector just as Beijing is widening a crackdown on the country’s largest corporations, fearful of their growing clout after years of relatively unfettered expansion.

“Sentiment got hurt after Chinese technology stocks slumped overnight on Nasdaq,” while local reasons accelerated the selloffs, including a lack of upside surprises in Tencent earnings and worries about government regulation on the sector, said Daniel So, a CMB International analyst.

On Wednesday, Bloomberg News reported China’s government has proposed establishing a joint venture with local technology giants that would oversee the lucrative data they collect from hundreds of millions of consumers. The preliminary plan, which is being led by the People’s Bank of China, would mark a significant escalation in regulators’ attempts to tighten their grip over the country’s internet sector. Tencent executives sought to tamp down the impact of Beijing’s heightened scrutiny after reporting revenue growth that barely met expectations.

“The major reason is still valuation,” said Linus Yip, First Shanghai Securities analyst. “Even after such a big drop, the sector is still not cheap. I don’t think the tech stocks will resume upward trend any time soon. Any bad news will trigger further selloffs, be it Nasdaq plunge or news about China’s regulation.”
james.6831
post Mar 26 2021, 02:37 PM

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never bothered with china stocks after watching the netflix doc...damn dangerous la...
yehlai
post Mar 26 2021, 09:41 PM

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QUOTE(james.6831 @ Mar 26 2021, 02:37 PM)
never bothered with china stocks after watching the netflix doc...damn dangerous la...
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What tittle?
SgtScoop
post Mar 26 2021, 09:57 PM

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QUOTE(james.6831 @ Mar 26 2021, 02:37 PM)
never bothered with china stocks after watching the netflix doc...damn dangerous la...
*
Everything in China is smoke and mirrors. Even the Nio stock traded on the NYSE isn't really Nio stock. It's stock in some Nio holding company in the Bahamas and you have no ownership of the company even if you buy 100% of the shares.
james.6831
post Mar 26 2021, 10:18 PM

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QUOTE(yehlai @ Mar 26 2021, 09:41 PM)
What tittle?
*
The China Hustle...
CSW1990
post Mar 26 2021, 11:00 PM

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EEIQ... anyone bought this?
icemanfx
post Mar 26 2021, 11:43 PM

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QUOTE(SgtScoop @ Mar 26 2021, 09:57 PM)
Everything in China is smoke and mirrors. Even the Nio stock traded on the NYSE isn't really Nio stock. It's stock in some Nio holding company in the Bahamas and you have no ownership of the company even if you buy 100% of the shares.
*
Luckin Coffee
ChAOoz
post Mar 27 2021, 12:55 AM

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Added more baba tonight. Averaging down is always a very uncomfortable feeling 😌
halotaikor.
post Mar 27 2021, 03:03 AM

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Chinese companies always goreng their financial report. its like their SOP already.
xander83
post Mar 27 2021, 06:34 AM

Blast off like a rocket
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QUOTE(SgtScoop @ Mar 26 2021, 09:57 PM)
Everything in China is smoke and mirrors. Even the Nio stock traded on the NYSE isn't really Nio stock. It's stock in some Nio holding company in the Bahamas and you have no ownership of the company even if you buy 100% of the shares.
*
Most if not all China listed shares in NYSE are laundered using Caribbean financial entities in order to bypass taxes in the USA

This has been running a long long time which all super wealthy have taken advantage of which Malaysia can be proud as well because Najib was the pioneer

You can see now even Mr DIY and upcoming CTOS are using the same method using the same entities by Creador

Genting, Top Glove, Hartalega and many more are actually this method
Yggdrasil
post Mar 27 2021, 09:00 AM

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QUOTE(yehlai @ Mar 26 2021, 09:41 PM)
What tittle?
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Probably The China Hustle.


oOoproz
post Mar 27 2021, 11:30 AM

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QUOTE(zacknistelrooy @ Mar 25 2021, 11:32 PM)
Nothing has changed from 10 years ago.

Requires two hands to clap and the investment bankers in US and China know what they are doing......

*
Didn't know about this movie, thanks for sharing

This post has been edited by oOoproz: Mar 27 2021, 11:31 AM
icemanfx
post Mar 27 2021, 12:10 PM

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QUOTE(oOoproz @ Mar 27 2021, 11:30 AM)
Didn't know about this movie, thanks for sharing
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If short seller is not restricted in Bursa, many counters would worth penny in a dollar.
oOoproz
post Mar 27 2021, 12:18 PM

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QUOTE(icemanfx @ Mar 27 2021, 01:10 PM)
If short seller is not restricted in Bursa, many counters would worth penny in a dollar.
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Yeah true!! It's already been happening in Bursa also, but I didn't expect it happened in huge scale in US, interesting documentary
zacknistelrooy
post Mar 28 2021, 08:27 PM

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QUOTE(oOoproz @ Mar 27 2021, 11:30 AM)
Didn't know about this movie, thanks for sharing
*
Another one about the Panama Papers if you haven't come across it.


SgtScoop
post Mar 28 2021, 11:26 PM

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QUOTE(Manatau @ Mar 28 2021, 02:36 PM)
Discovery and Viacom lost about 50% their value in just this month from the top..

Anybody putting into it?
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They lost half their value in a week! What happened?

There is no sign of a bottom yet.
ChAOoz
post Mar 29 2021, 12:12 AM

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Startup hussle, featuring special guess star SPAC. Coming to a netflix near you
icemanfx
post Mar 29 2021, 09:15 AM

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QUOTE(Manatau @ Mar 29 2021, 06:27 AM)
A hedge fund needed liquidity to cover some long or short positions which they were losing in..

So they have to close positions elsewhere and discovery n viacom were consequences
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Billion dollars question is will this price level trigger more force selling or bound back?
ozak
post Mar 29 2021, 04:11 PM

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QUOTE(SgtScoop @ Mar 28 2021, 11:26 PM)
They lost half their value in a week! What happened?

There is no sign of a bottom yet.
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here is the reason.

https://forum.lowyat.net/topic/5124811

icemanfx
post Mar 31 2021, 03:57 PM

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Food-delivery startup Deliveroo Holdings Plc sank as much as 31% in its London debut after its initial public offering raised 1.5 billion pounds ($2.1 billion), putting pressure on the City’s efforts to boost its profile as a technology and listings hub post-Brexit.

The stock traded at 292 pence as of 8:21 a.m. in London, down from the IPO price of 390 pence a share, which was the bottom end of an initial range. Beset by concerns about its dual-class structure and workers rights, Deliveroo is the first of London’s top five deals this year not to price at the highest targeted valuation, data compiled by Bloomberg News show.

https://www.bloomberg.com

tech ipo wave coming to end?


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