In today’s briefing:
- Tuhu Car Lock-Up Expiry – Would Need Some Selling to Improve Liquidity when US$1.5bn Comes Unlocked
- Gold Breaking Out Above 3.5-Year Resistance as the U.S. Dollar (DXY) And Treasury Yields Roll Over
Tuhu Car Lock-Up Expiry – Would Need Some Selling to Improve Liquidity when US$1.5bn Comes Unlocked
- Tuhu Car (9690 HK) was listed in Hong Kong on 26th Sept 2023 after raising US$151m. The IPO had been a 100% primary offering.
- Tuhu is an integrated online and offline platform for automotive services in China.
- Trading with a very small float of 1.8%, in its upcoming six-month lockup expiry, >90% of Tuhu’s pre-IPO investors, cornerstones and management combined stakes will come off six-month lockup expiry.
Gold Breaking Out Above 3.5-Year Resistance as the U.S. Dollar (DXY) And Treasury Yields Roll Over
- The number of risk-on signals continues to grow, while risk-off signals remain virtually non-existent. We will be sure to point it out when this dynamic starts to change
- In the meantime, we want to continue riding this bull market higher, and our bullish outlook on the S&P 500, Russell 2000, and Nasdaq 100 (since early-November 2023) remains intact.
- Gold is breaking out of a 3.5-year base to all-time closing highs — buy. Silver is breaking out above a 3-month base at $23.50. Fueled by toppy DXY and rates
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