Chinese property stocks tumbled the most in nine months as concern over a possible China Evergrande Group liquidation added to fresh signs of stress across the industry
A Bloomberg Intelligence gauge of developer shares fell as much as 6.4% Monday, taking its loss in valuation this year to $55 billion. Evergrande, which scrapped key creditor meetings at the last minute and said it must revisit its restructuring plan, dived 25%. China Aoyuan Group Ltd. was the biggest drag on the gauge, slumping by a record 76% after shares resumed trading. Sentiment has worsened dramatically in recent days as investors brace for years of pain from the ailing sector, with policy support failing to resolve liquidity woes. While developers are pinning their hopes on the upcoming Golden Week holiday period to revive home sales, a rapid cooling of a late-August rally in property shares shows any relief may be short lived. Source: Bloomberg
Ethereum back on June 2022 trend support
Ethereum (XETUSD) is back on June 2022 trend support. Keep an eye on the is level. Source : Bllomberg
Dax Index breaking support ?
Dax Index is under pressure this morning. Trading below support zone 15'466-15'528. This is an important level, keep a close eye on it. Source : Bloomberg
Apple aims to scale up production over 5 times in India to USD 40 bn in 5 years
This is another very bullish news for #india economy! This will not only lead to lower imports/ higher exports ( leading to higher GDP) but also create more jobs (directly and indirectly). Extract from www.indiaexpress.com article iPhone maker Apple has plans to scale up production in India by over five-fold to around USD 40 billion (about 3.32 lakh crore) in the next 4-5 years, according to government sources. According to the official, who did not wish to be named, the company has crossed the USD 7 billion production mark in the last financial year.
$100k invested in the S&P 500 ETF 30 years ago would be worth over $1.7 million today
Was the road to 17x growth a straight line? Far from it as shown on the chart below by Charlie Bilello.
Flows are still not coming into publicly-listed bitcoin funds (including etfs)
Source: JPM, TME
Bankruptcy filings have recently reached levels on par with the 2008 Great Recession and the 2020 COVID-19 pandemic
This indicator often suggests that the economy isn't performing well, and has historically always been followed by massive stock market crashes. Source: whalewire
Here’s a look at how Arm $ARM, Instacart $CART, and Klaviyo $KVYO traded from their IPO pricing over the last week
Big opens then lots of selling. Source: Bespoke
