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The fear of world wide affairs ie China,, Yemen Ukraine gazza strip etc all in all not a good time to invest the 100 Fste taking a hammering, sit and wait all this turmoil makes the markets jittery. Sit on the fence there is worst to come, Pru need to make a statement hopefully a good one to give the shareholders a plus sign.
Impossible to time the markets so I remain fully invested. Pru has been very disappointing though.
" China returned to Davos in full force this week as it attempts to thaw relations with the international community and court investment following years of Covid lockdowns."
I think the Chinese are beginning to fear for their economy and in need of doing something about it
https://www.cnbc.com/2024/01/18/china-courts-davos-with-largest-presence-in-years.html
China is considering a rescue package backed by offshore money to stave off a slump in its struggling stock markets, according to Bloomberg News.
The report, citing people familiar with the matter, said Chinese authorities are aiming to get about 2 trillion yuan ($278 billion), primarily through offshore accounts of Chinese state-owned companies to help stabilize the market by purchasing stocks onshore through Hong Kong markets
https://www.cnbc.com/2024/01/23/china-reportedly-weighs-measures-to-support-stock-markets-could-mobilize-278-billion-.html
Thanks Poker for your valued input here. Most appreciated!
Crossley
sure...... something has to happen in China and fast....the Chinese New Year is fast approaching and confidence is low .... CNY is normally a time of great travel internally and consumer spending.....and optimism for the Year ahead ....
2024 - Year of the Dragon - represents good luck, strength, health and more babies are born in the year of the dragon more than any other animal.
https://www.cnbc.com/2024/01/23/china-strategist-warns-of-deflation-and-rock-bottom-consumer-confidence.html
Hopefully a good start this morning, with a bit of luck and Xi’s help this can a potential double bagger from these levels
I wouldn't rely on Xi for anything, he's been making poor decisions for years and cannot be trusted. Economically, he's been weak and lost, bullying and ruining Hong Kong for zero benefit to China, and disastrously mismanaging the Covid crisis. He also presides over a deceitful economy, where companies pretend to be independent when in reality they are just part of the communist mafia, with company structures even more opaque than Enron. Economic data coming out of China still has to be "interpreted" because they still lie for political reasons - it's pathetic and juvenile. Anyone investing here should be mindful of the hoops Pru have to jump through just to operate in the region, and suspicious about what extra burdens might be suddenly introduced if they ever actually started thriving.
Having said that, long term this is an exciting growth market, and there is always the possibility that new generations in China will eventually change direction and recognize the value of fair dealing and legality, and the worldwide respect and opportunities it could open up for them.
For the first time, there is actually a net outflow of funds from China by international investors. To counter this, HSBC and Standard Chartered have suddenly been granted top tier banking licenses by China after years of trying. IMO this bodes well for PRU's operations here.
Yes, it is interesting how XI and The Party tries to control everything and you begin to wonder whether in reality they end up controlling nothing as things end up running out of control ( COVID, youth unemployment, Real Estate market, Local authority debt, shadow banking , environment care , deflation etc etc )
PRU of course are partnering in China and aiming to tap profitable wealthier clients but one of the main issues is what the poor Chinese economy is doing in terms of affecting the region around them , Thailand etc finding it harder with far fewer Chinese tourists and Chinese trade
The boom is definitely over in China and it is a transition now into a new more steady era of just 4-5% growths and the need now to push for consumer spending and stable investment for the people and by the people to secure their futures
STAN looks cheap based on its book Equity level
https://www.theguardian.com/world/2024/jan/24/china-05-per-cent-cut-bank-minimum-reserves
I did read yesterday that money was pouring back into Chinese ETF funds with investors seeing opportunities to buy back into beaten down stocks there
China is really realising they have to change tack if they are going to get their economy moving
https://www.cnbc.com/2024/01/26/china-and-us-working-to-stabilize-business-environment-beijing-says.html
Thanks Poker, just came here from reading that - the Chinese housing market lurches from bad to desperate, threatening the entire economy, and the useless government offers no credible solutions. Problem with the corrupt "Communist" mafia is that there is no alternative, or at least no peaceful, civilized one.
Blah,Blah,Blah
The Real Estate was a ticking time bomb and like in the West it allowed many to get very rich and then leave a sinking ship ... XI wants to control everything but shows he is actually in control of nothing ..and yes the "mafia" are the real "bosses"
Today just formalises what many have prepared for, for quite a while ...
In many ways doing this and moving on is the best way to ..start again....
You are never going to get new property buyers unless they re-organise the debt and start with a "new" company with its "new" balance sheet
Did you see that story about a British guy living in China who disappeared in 2018, then just last week the "communists" admitted they've been detaining him for all this time, on something amounting to espionage charges. They are supposed to be a superpower yet act like a criminal banana republic - viciously backward: no respect for rights or law whatsoever, just mafia rule stamping on people mercilessly
BlahBlahDoh
secret overseas police stations, mobile execution vans , people locked inside their apartment blocks with insufficient food during COVID,threats to stock market traders, daily social media scrutiny and published control propaganda ...the list goes on ..... behavioural control without limits
suggests a severe insecurity within the CCP and even great fear amongst CCP members ordered to achieve these controls
Interesting comments from Pokerchips. Do you think the published control propaganda extends to PRU broker forecasts ? Sp 800 going nowhere, Barking forecast up from 1610 to 1640 !!!
Dinoken
I dont take any notice of Brokers forecasts ... waste of time IMO and best avoided IMO
Today is FEB Option expire day...i suspect some closing Options have resulted in buying on the side of those bets
need to see now if the mood now changes to buy Calls
“The economy clearly improved in March, thanks to better industrial activity and stronger retail spending,” said Shehzad H. Qazi, chief operating officer at the China Beige Book, a U.S.-based research firm.
https://www.cnbc.com/2024/03/27/china-economy-on-track-for-strong-march-performance-china-beige-book.html