China Last Night KraneShares This morning, the SEC, PCAOB, and CSRC, in conjunction with the Ministry of Finance, released statements announcing the signing of a Statement of Protocol allowing the PCAOB to conduct full audit reviews of US-listed Chinese companies. The deal is the first step as the audit reviews still need to take place.…
China Last Night KraneShares Key News Asian equities had a good day with Hong Kong having a fantastic day despite the morning session, 9:30 to noon followed by a one-hour lunch break before afternoon trading starts at 1pm, being called off due to a typhoon. Hong Kong listed internet stocks flew as evidenced by Hong…
China Last Night KraneShares Week in Review Asian equities traded largely lower this week on currency weakness, slowing GDP growth, and short selling in Hong Kong. On Monday, the People’s Bank of China (PBOC), China’s central bank, unexpectedly announced a cut to the medium-term lending facility, lowering the key lending rate to 2.75% from 2.85%…
China Last Night KraneShares Tencent Q2 Earnings Overview Tencent reported mixed results amid low expectations. Remember that the year-over-year (YoY) figures are all negative, but that was expected and baked into the current share price. Management did a reasonable job cutting costs. During the conference call, when asked about China’s internet regulation, management stated that…
China Last Night KraneShares Week in Review Asian equities were largely higher this week as China released better-than-expected trade data, indicating that the global economy could be recovering somewhat from supply chain distress and inflationary pressure. China’s National Passenger Car Information Exchange Association announced that China auto sales increased +41% year-over-year in July. On Wednesday,…
Key News Asian equities were largely higher on light volumes. Japan and Hong Kong were off slightly while India (Moharram), Pakistan (Ashura), and Singapore (National Day) were closed for the holiday. Tomorrow we have the highly anticipated July CPI print. I am referencing China’s CPI, which is expected to be 2.9% (tongue in cheek). As…
Pedestrians walk past a Japan-based fast food restaurants chain Ajisen Ramen restaurant in Shanghai … [+] in 2019. (Photo by Alex Tai/SOPA Images/LightRocket via Getty Images) SOPA Images/LightRocket via Getty Images Ajisen (China), a large China restaurant chain that specializes in Japanese-style noodles, has joined a food and beverage industry flock posting weak financial results…
SOPA Images/LightRocket via Getty Images Key Takeaways AMTD Digital’s stock price increased from $7.80 at its IPO on July 15th to $2,555 less than three weeks later Reddit’s WallStreetBets forum was originally thought to be behind the meteoric rise, but that’s now looking less likely AMTD Digital’s founder Calvin Choi is currently appealing a two…
China Last Night KraneShares Week in Review Asian equities ended a volatile week mostly higher as China released mixed economic data showing that the services economy expanded above expectations while manufacturing may have slowed. House Speaker Nancy Pelosi’s visit to Taiwan on Tuesday was not as impactful as some had feared, and markets responded accordingly,…
China Last Night KraneShares Alibaba Q2 Earnings Overview Alibaba beat on the big three numbers investors and analysts care about: Revenue, Adjusted Net Income, and Adjusted EPS. YES, year over year, these numbers are down on percentage, BUT we knew this! Zero covid/lives first policy has had a material effect on consumption in China as…