Latest news with #GeorgeCuster
IOL News
a day ago
- Politics
- IOL News
Protestors storm parliament, and serial-offender Luis Suárez bites again, some of the historical moments on this day
President Thabo Mbeki sets the bar too high during his first SONA 1876 Battle of the Little Bighorn: General George Custer and the US Seventh Cavalry are wiped out by Sioux and Cheyenne warriors. 1904 Cape Town is flooded again within the space of a few days as streets turn into raging torrents. A considerable amount of damage is recorded, but there are no records of fatalities. 1940 A conference of editors in Pretoria agrees to voluntary censorship on military matters and keep the public in the dark about World War II as much as possible. 1947 The Diary of a Young Girl (aka The Diary of Anne Frank) is published. The book is significant in that it speaks for the voiceless (especially children, whose stories have never been told), is a witness to atrocity, and a powerful reminder of the resilience of the human spirit. Anne's words – such as 'In spite of everything, I still believe that people are really good at heart' – are a powerful testament to the enduring human spirit and a plea for tolerance, compassion, and peace. 1948 The Berlin Airlift begins, ferrying humanitarian supplies into the city. The South African Air Force is strongly involved. 1950 The Korean War begins. SA, as a founding member of the UN, sends an air force squadron. 33 South African pilots are killed. 1999 In his first State-Of-the-Nation-Address, President Thabo Mbeki promises to tackle crime; SA's murder rate is third highest in the world. This year (2025), it is slightly improved at 10th-highest. Lesotho is the fourth-worst. 2006 In Jeppestown, Joburg, four cops are ambushed and shot dead by a 23-strong gang of robbers. The Task Force goes in and kill eight of the gang. The rest surrender. 2014 Liverpool and Uruguay striker Luis Suárez is charged with biting at the Fifa World Cup. The serial-offender apologises and reforms. 2020 Liverpool clinches first EPL soccer title in 30 years with 7 games to spare. 2022 The 30 000-year-old intact remains of a baby woolly mammoth is found frozen in permafrost in gold-fields of Yukon, Canada. 2024 China's Chang'e 6 mission is the first to return samples from the far side of the moon. 2024 Protesters storm parliament in Nairobi, Kenya, and set it alight. Police open fire on them, killing five and wounding 31. DAILY NEWS
Forbes
08-04-2025
- Business
- Forbes
China Market Update: National Team Cavalry Arrives
CLN KraneShares Headlines are speaking to Asia's rebound, highlighted by Japan's very strong move along with Hong Kong, Mainland China, India, the Philippines, and Australia, all of which rebounded significantly overnight. However, Indonesia reopened lower by -7.90%, Taiwan was down by -4.02%, Thailand was down by -4.50%, Singapore was down by -2.01%, and Vietnam fell -6.43%. China's government sent the cavalry in to support the stock market and was starting to feel a bit like George Custer. It was interesting to hear that the US Treasury Secretary bashed the US stock market because only rich people held it versus the Chinese government literally buying the stock market. Let that one sink in and think about the long-run repercussions. The National Team, entities that invest on behalf of the Chinese government, such as their sovereign wealth fund, National Social Security Fund, and state-owned enterprise (SOE) insurance companies, did not attempt to hide their activity, but actually promoted and published it. As an FYI, this is very rare. Hong Kong and Mainland China had very strong days on high volumes, though the rallies were slightly different, as Hong Kong was led higher by growth stocks while Mainland China was led higher by mega and large capitalization stocks. Both markets did ease off intra-day highs in the afternoon. Announcements With Positive Market Impacts: The five National Team ETFs we track saw today's volume surge versus their 30-day averages and inflow yesterday in US dollars: Southbound Stock Connect inflow from Mainland China into Hong Kong stocks and ETFs today was a healthy net $3.04 billion as Alibaba and Tencent saw very large net inflows. Hong Kong was led higher by growth stocks, including the internet sector and automobile stocks, on strong Q1 sales announced by BYD. Household appliances and machinery were high, while banks were lower. Mainland China stocks were led by mega-capitalization bank stocks, energy, Kweichow Moutai, telecommunication, and coal, though Apple's supplier ecosystem was off, and semiconductor stocks were mixed. Premier Li spoke with the EU President von der Leyen. The Ministry of Commerce's comments remained tough on US tariffs. Why? Read below! The origin of China Last Night was driven by our first significant investor, who, after visiting China over several decades, no longer felt he could trust Western media as a reliable source of understanding what was happening in China's economy and capital markets. Working in finance, he was a numbers guy, so the exaggeration, hyperbole, clickbait, and apocalyptic headlines not backed by data were a factor in him asking me to write him an email about 'what happened in China last night'. I've noticed a pick-up in the media on relying on data, which is a great trend. We discussed yesterday the fantastic Wall Street Journal article on General Motors and Ford (hyped tariff beneficiaries who will be hurt by tariffs for multiple reasons). So, a simple question to ask today would be, isn't China folding like a chair on the US tariff threat? As we discussed yesterday, one reason is the US tariffs only look at goods while ignoring the reality the US is the largest exporter of services and the revenues generated by US companies who manufacture and sell in China aren't considered US exports. Besides national pride, isn't China completely dependent on exports? A simple question would be: What percentage of China's GDP is driven by export-driven manufacturing? There are lessons from studying China's economy, capital markets, and government policy for the last twelve-plus years that are relevant today for the US economy and stock market. China's primary source of savings has been real estate, with minimal exposure to the stock market. According to Reuters on March 13, 2025, the US Federal Reserve reported that at year-end 2024, the stock market, especially after a sixteen-year bull market, is 'the biggest component of US household net worth, rose about $300 billion to $56 trillion in value, while household real estate, the second-biggest component, fell about $400 billion to $48.1 trillion.' Therefore, the recent decline in the US stock market will have a similar knock-on effect on US consumer confidence and, therefore, retail sales. This is why I highly doubt the '$600 billion of tariff revenue', which is really a tax paid by US consumers, is unlikely to come to fruition as the lack of US retail sales is apt to curtail the tariff revenue. Just as we've seen a significant pivot in China to address the housing crisis, the question is how much stock market pain can DC take. Remember, Caesar wasn't brought down by his enemies but by his friends, as the real economic pain has not been felt at all. This is a long-winded way of saying the sides will talk. Tencent Price Chart and Net Inflow/Outflow from Southbound Stock Connect: tencent KraneShares Alibaba Price Chart and Net Inflow/Outflow from Southbound Stock Connect: alibaba KraneShares The Hang Seng and Hang Seng Tech indexes gained +1.51% and +3.79%, respectively, on volume that was down -30.24% from yesterday, which is 252% of the 1-year average. 416 stocks advanced, while 78 declined. Main Board short turnover decreased by -25.37% from yesterday, which is 324% of the 1-year average, as 20% of turnover was short turnover (Hong Kong short turnover includes ETF short volume, which is driven by market makers' ETF hedging). Growth and large capitalization stocks outperformed value and small capitalization stocks. All sectors were positive, led by technology, up +5.24%; consumer staples, up +3.87%; and materials, up +3.72%. The top sub-sectors were construction materials, consumer services, and machinery, while industry conglomerates and REITs were the worst. Southbound Stock Connect volumes were 5x pre-stimulus levels as Mainland investors bought $3.041 billion of Hong Kong stocks and ETFs, led by Tencent and Alibaba, which were very large net buys; Meituan was a large net buy, CNOOC, SMIC, and Kuaishou were large/moderate net buys, Xiaomi was small net buy, and Wuxi Biologics was a small net sell. Shanghai, Shenzhen, and the STAR Board gained +1.58%, +0.81%, and +1.72%, respectively, on volume that was up +2.38% from yesterday, which is 135% of the 1-year average. 2,843 stocks advanced, while 2,237 declined. Value, dividends, and large capitalization stocks outperformed growth, momentum, and small capitalization stocks. Technology was the only negative sector, down -1.95%, while real estate gained +3.94%, energy gained +3.52%, and consumer staples gained +3.00%. The top sub-sectors were agriculture, retail, and food, while motorcycle, auto parts, and leisure products were the worst. Northbound Stock Connect volumes were 2X average. CNY and the Asia dollar index fell versus the US dollar. Treasury bonds fell. Copper fell, and steel fell. Live Webinar Join us on Thursday, April 10, 2025 at 10 am EDT for: Tariff Briefing and Q&A With KraneShares Please click here to register New Content Read our latest article: New Drivers For China Healthcare: AI Med-Tech Innovation, Cancer Treatment, & Favorable Balance of Trade Please click here to read Chart1 KraneShares Chart2 KraneShares Chart3 KraneShares Chart4 KraneShares Chart5 KraneShares
