Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Tencent is currently a whopping 6% down (again) today having, once again, a detrimental impact on SMT SP that is down a mere 1% as I write although heading in a southerly direction. I wonder if our boys have or are considering increasing their holding in Tencent and thus doing the exact opposite of what I would do. Anyway, I much prefer to trust their judgement over my own any day! Fingers crossed for a better day tomorrow.
jbongo - another scenario would be that the seller is SMT themselves. At any point they could decide to release some of the shares they currently hold in Treasury from previous buybacks. Sure, the number of shares in issue would remain constant, but this would - if anything - be a sell signal (just as recent purchases of their own securities is - if anything - a buy signal).
Not necessarily Dorset. E.g. you could have a seller selling 10 shares, and 5 buyers who each buy 2 of those shares. Lot more buyers than sellers then, but the same no of shares.
"Yep definitely, if you look at share trades up to now though there are more people buying than selling that is always puzzling to me ."
Funny thing though that there must always be the same number of buyers as sellers otherwise you wouldn't have a transaction.
Thank you much appreciated.
OLDSID large trades by trade investors dont show up
Thanks ,always learning on here , much appreciated ??
oldsid - reported buys & sells are all just estimates, based on the median price at the time. Given the small spread on SMT, they're often wrong (i.e. sells are mistakenly logged as buys and vice versa).
Yep definitely, if you look at share trades up to now though there are more people buying than selling that is always puzzling to me .
It must be China! Oh the roller coaster that is SMT.One step forward, two back.Never boring is it!
That might be true but it's still July's worst performing stock https://www.bloomberg.com/news/articles/2021-07-29/tencent-is-world-s-worst-stock-bet-after-170-billion-wipeout?srnd=premium-europe
I mentioned on this forum on Tuesday that Tencent were trading 10% down. Only right then I should mention, at the time of writing, they are 10% up! Long may it continue!
such interesting times we live in, lol. i have mixed feelings about
the developments in china … on the one hand, it’s a salutary
reminder that the casino is always rigged, with the chinese state able
& very willing to interfere with market forces … but on the other hand,
it’s also potentially very positive, from a long term perspective, to see
some tightening of regulatory and governance frameworks in china …
jury’s out whether this is prelude to overly interventive state, vs state
acting as a reasonable sheriff to curb excesses of the wild west (east?).
they have come such a long, long way in financial markets … i remember
back in the 1980s how frustrating timid the BoC were to deal on forex prices
for minute amounts, e.g. $1m of spot $/yen …. but we understood then
that they were taking baby steps into the world of advanced capitalism,
and given time china would be huge. we were right, and that early
relationship building paid off, but there’s still a long, long way to go.
(personal disclosure, i have a lot of sympathy for the chinese position
that the west has always tended to overstate the importance of civil
liberties such as free speech etc, versus the basic human right to life,
supported by the chinese state’s commitment to the iron rice bowl.)
Nbe22, it ain’t 1.7 now is it. And tomorrow will be another 4% drop in my silly view ! :-).
DorsetLSE - Surely India having the potential to overtake China doesn't suddenly make China a small market - or one that'll stop growing rapidly. I personally don't see India overtaking China in the foreseeable, but I could be wrong. It'll be interesting to see how SMT reacts to increased Chinese regulation. My guess is that things will settle down within the next 12 months or so, but that fewer new Chinese firms will opt for US listings. I'm fairly convinced that's the main thing regulators are after - Chinese companies listed on Chinese-only exchanges. They say it's to crack down on illegal/risky business practices and to break up monopolies. But when did that ever bother the Chinese?
I did mention China as growth early on in the chat what I should of said was Asia. I have one fund that is pure China which I will offload and add to my Asia pacific funds . China’s a bit risky to my liking now for a China only fund. Still think. SMT will drop back but happy to add if it goes to 1250 .
:-). Just my view. Only 29 years till my hundred b/day.
I have been reducing my exposure to China and now down to just over 1%. The CCP has been flexing its muscles recently and showing a harder edge to its activities. The hype that it's a big market and only just getting going is just hype (you only have to listen to the FCSS and BGCG webinars to see the same old story that has been pedaled for at least 20 years), after all India is potentially even larger especially given the demographics
SMT is only down 1.7pc as of right now - that's nothing. Only weeks ago SMT was in the 1100 and 1200s. The fact it is seemingly building a support level around 1300 is very good and nothing to be downcast about.
Unfortunately, the Hang Seng Index has extended its loss to 5.5% as Tencent (SMT's largest holding) loses circa 10%. The likes of Meituan has lost as much as 16% culminating in the Hang Seng Tech Index itself losing around 17% in 3days. I believe this & the fact that realisation of what's happening in China is taking place along with a general downward trend in the FTSE today has ultimately conspired against us. Doesn't mean it won't reverse as time goes on today & over the coming weeks though. Keeping the faith. Tesla due to report profits of $1.1 billion exceeding expectations. Tesla up more than 2% on pre market trading. Fingers crossed this helps.
It’s not just about tutorials. That’s a small part. It’s about all the other interventions by the government in business.
Yes many China funds fell because of a clamp down on online tutoring/education platforms. As far as I know SMT is not exposed to any such online tutoring investments in China so this pull back seems to be very much a collateral damage from the market shock.
Phyl, spot on. I will buy a few today but keeping half back as think this may drop back to 1250 over the next few sessions ,that’s obviously a guess. As you say a bit top heavy in China considering the politics . But that’s were the growth is long term. And we now have Telsa doing ok . :-).
JPM China Growth & Income trust is, as I write, down more than 10% over the past 2 trading days. Could get worse. If truth be told we're probably a tad over exposed with our China investments here so any regulatory attack by the government particularly on their own tech businesses will, for sure, have quite a detrimental impact on our own investment with SMT but the questions are:
1. How much further will the China Govt go?
2. Are the drops we've suffered these past couple of days temporary or something a little more permanent?
3. Will the managers act by reducing their holdings in the likes of Tencent or will they keep the faith as they so often do?
Personally, I would like to see the exposure reduced in China as I think this could be the start of a long regulatory campaign by the China Govt but having said that I for one have complete faith in the managers here no matter what course of action they do/don't take. They know much better than me that's for sure.