Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Cross Asset Strategy

<ul><li>Chips / In Depth: The sudden reversal of the global chip shortage</li><li>Hong Kong / Hong Kong unveils new visa, property tax policies to stanch talent exodus</li><li>Central bank / China’s central bank gets new deputy governor</li></ul>

Chips / In Depth: The sudden reversal of the global chip shortageHong Kong / Hong Kong unveils new visa, property tax policies to stanch talent exodusCentral bank / China’s central bank gets new deputy governor

CX Daily: The Sudden Reversal of the Global Chip Shortage

Asia biased macro & technical analysis, Untying The Gordian Knot

Untying The Gordian Knot

Asia biased macro & technical analysis

A differentiated process with a primary focus on Asia. Technical Analysis as core and Macro drivers that could bring the view to fruition & changes that could make the idea fall apart. The objective is to be the best in class, hence corner shop.

Technical Analysis

Alibaba Group Holding  / Technical Analysis

<ul><li>Country Garden 2031 USD bond closed at 17.00. It is pricing a near-inevitable default.</li><li>Longfor Group-rated BBB- maturing in 2032, is trading at 54.25, yielding 12.6%.</li><li>The bonds are down 50% since their peak near 109 in February 2021. it is getting into a crisis of confidence mode.</li></ul>

Country Garden 2031 USD bond closed at 17.00. It is pricing a near-inevitable default.Longfor Group-rated BBB- maturing in 2032, is trading at 54.25, yielding 12.6%.The bonds are down 50% since their peak near 109 in February 2021. it is getting into a crisis of confidence mode.

Alibaba, JD.Com, Longfor Group, and Country Garden

External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

Equity Bottom-Up

Meta Platforms (Facebook) / Equity Bottom-Up

<ul><li>Meta hosted the Meta Connect 2022 on 11 Oct, launching its first high-end VR headset Meta Quest Pro.</li><li>The new VR headset will begin shipping on 25 October for US$1,499.99.</li><li>With innovative features like pancake lenses, eye tracking, natural facial expressions and colour passthrough, Meta Quest Pro will meaningfully enhance the social/gaming/work VR experience in our view.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Meta hosted the Meta Connect 2022 on 11 Oct, launching its first high-end VR headset Meta Quest Pro.The new VR headset will begin shipping on 25 October for US$1,499.99.With innovative features like pancake lenses, eye tracking, natural facial expressions and colour passthrough, Meta Quest Pro will meaningfully enhance the social/gaming/work VR experience in our view.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China Internet Sector – Meta Connect 2022: bridging the gap towards metaverse

<ul><li>The YTD performance of HSI -22%, HSI Tech Index -35%, HSI Properties -18.6%, and continued 23-25% short trading volume are set up for sharp rallies.</li><li>Investment banks and brokers forecast economic recovery for buying in Q4 2022 or 2023.</li><li>Overall volume continues to fall [something evident from HKEX share price as well].</li></ul>

The YTD performance of HSI -22%, HSI Tech Index -35%, HSI Properties -18.6%, and continued 23-25% short trading volume are set up for sharp rallies.Investment banks and brokers forecast economic recovery for buying in Q4 2022 or 2023.Overall volume continues to fall [something evident from HKEX share price as well].

Macroeconomics

<ul><li>After last week's Bear Porn note, this explains best the focus of the note.</li><li>We have a critical few weeks ahead of us as we open with a gap down on the index and many stocks on Thursday 22nd.</li><li>However, I think I will focus on just a few things that matter most, the four essential heavy weights and, last but not least, the long-term chart of the Hang Seng Index.</li></ul>

After last week's Bear Porn note, this explains best the focus of the note.We have a critical few weeks ahead of us as we open with a gap down on the index and many stocks on Thursday 22nd.However, I think I will focus on just a few things that matter most, the four essential heavy weights and, last but not least, the long-term chart of the Hang Seng Index.

Hang Seng Index, Tencent, HSBC, HKEX, and Alibaba

China

Alibaba Group Holding Limited provides online sales services. The Company provides internet infrastructure, electronic commerce, online financial, and internet content services through its subsidiaries. Alibaba Group Holding offers its products and services worldwide.

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Alibaba Group Holding (BABA US)

CX Daily: The Sudden Reversal of the Global Chip Shortage

In Depth: The sudden reversal of the global chip shortage. Hong Kong unveils new visa, property tax policies to stanch talent exodus

Caixin Global

Alibaba, JD.Com, Longfor Group, and Country Garden

Country Garden 2031 USD bond closed at 17.00. It is pricing a near-inevitable default.Longfor Group-rated BBB- maturing in 2032, is trading at...

Untying The Gordian Knot

China Internet Sector – Meta Connect 2022: bridging the gap towards metaverse

With innovative features like pancake lenses, eye tracking, natural facial expressions and colour passthrough, Meta Quest Pro will meaningfully...

CMB International

Alibaba, ICBC, Tencent, and Ping An

The YTD performance of HSI -22%, HSI Tech Index -35%, HSI Properties -18.6%, and continued 23-25% short trading volume are set up for sharp rallies.

Untying The Gordian Knot

Hang Seng Index, Tencent, HSBC, HKEX, and Alibaba

After last week's Bear Porn note, this explains best the focus of the note. We have a critical few weeks ahead of us as we open with a gap down on...

Untying The Gordian Knot

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