China commodity stockpiles
Source: Robert Friedland on X, The Economist
India’s dependence on Chinese imports keeps growing:
• In 2023-24 financial year China edged past the US to reclaim its position as India’s top trading partner • India’s imports from China rose by 56% since 2020, fuelling a 75% rise in country's trade deficit with China Source: Agathe Demarais, The Economist
Remarkable chart: gold in yen.
No further comments necessary. Source: Michel A.Arouet, Ht @AugurInfinity
Forward P/E Ratios of Key Global Stock Markets - Clad Bastion research on X
India: 24 Denmark: 23 United States: 21 Taiwan: 18 Switzerland: 17 Netherlands: 17 Australia: 17 Saudi Arabia: 16 Sweden: 16 Japan: 15 Canada: 14 France: 14 Germany: 12 Mexico: 12 United Kingdom: 12 Spain: 11 South Korea: 10 Hong Kong: 10 South Africa: 9 Italy: 9 Brazil: 7 China: 6 Turkey: 5
The US remains (by far) the world leader for corporate R&D, accounting for ~40% of global total
• China and EU are competing for second place in global league table • Japan has been in free fall over past two decades, now accounting for only 10% of global private R&D Source: Agathe Demarais
India‘s economy is overtaking UK, the former colonial power.
And this is most likely just a start. Source: The Economist, Michel A.Arouet
JUST IN 🚨: China dumped an ALL-TIME HIGH $42.6 billion worth of U.S. Securities in May
Source: Barchart
Weak China demand is weighing on European luxury & consumer discretionary stocks.
- Swatch Group (UHR SW) reported a steep fall in first half sales and earnings on Monday as the world’s biggest watchmaker struggled with weaker demand in China. The company’s drop in turnover was triggered by a slump in demand for luxury goods in China, including Hong Kong and Macau, with only the Swatch brand bucking the negative trend, increasing its sales in China by 10%, the company said in a statement. - Hugo Boss (BOSS GY) shares plunged as much as 10% Tuesday after the company cut its sales outlook. The German fashion house said Monday that it expects full-year sales of up to 4.35 billion euros ($4.73 billion) on macroeconomic challenges, particularly in China. The retailer becomes the latest high-end fashion line to warn of persistent woes in the luxury sector. Source: CNBC
