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Yes, PRU has bounced by 1/3 since its late October lows. I've held the shares a long time having had both Jackson Inc and
M & G spun out of them. In my view this has increased the political risk by divesting of assets in more predictable economies. I find it difficult to value the share now. Any views, guys and girls?
Quite a strong recovery…..it seems a little progress on Covid policy is all that is needed for that part of the world to feel a lot better about the future. (Ping An was up 13% in HK today - which has a large financial is a very rare level of positive movement).
Investors fear of missing out seems to drive these burst of recovery well ahead of fundamentals changing much
With everything going on in the world surely things can only get better? Hopefully the easing on restrictions in China will continue and the share price will reflect this!? With this in mind what share price might we see by the end of next year?
strong recovery as the Dollar peaks and the FED looks to now move to 0.5/0.25/0.25 ....money moving out of the Dollar .... PRU in a good place with its digital developments and the idea that the Chinese will move away from Property speculation and into more secure mid/long term investing
China announced the relaxation of some of its hardline Covid-19 restrictions on Friday, after authorities had vowed to stick to a zero-tolerance virus approach despite mounting economic damage.
The country is the last major economy welded to a strategy of stamping out virus flare-ups as they occur, through a combination of snap lockdowns, mass testing and lengthy quarantines.
Top leaders had pledged to stick "unswervingly" to the policy, which has forced business closures, roiled international supply chains and weighed heavily on growth.
But a notice from the country's disease control agency on Friday said the Politburo Standing Committee – the apex of power in China – met Thursday to rubberstamp limited relaxations.
According to the notice, quarantines for inbound travellers will be cut from 10 days to eight, consisting of five days in a state isolation centre and three days at home.
Inbound arrivals will still be required to undergo six nucleic acid tests and will not be allowed to freely set foot outside during those eight days, the notice says.
China facing deflation .....something going to have to give there pretty soon .... Guangzhou COVID looking pretty bad
what the hell are they doing?
Good earnings result……still amazes me how little the market values the business, but i suppose that is a result of volatile earnings as a result of market movements making it difficult to value..
So the rumour was bought on Friday and consolidated today when it could have been sold…...this leads me to conclude there is a lot more upside when the change comes in China.
It is more a case of the plans for any relaxation have yet to be fully finalised .....so it is more about the timing of it all....it appears ..... the rumour was more about a more immediate plan ...which isnt the case
According to this article the expectation of any relaxation in China's zero Covid policy was just speculation.
I suppose we can now expect to see a sharp share price drop tomorrow.
https://www.theguardian.com/world/2022/nov/05/chinas-unswerving-zero-covid-rules-see-no-let-up
Good day today indeed. Took the opportunity to sell a small portion of my holding at 913p, as I have become too overweight in pru and i’m not sure how much I trust this rise seeing as how it has risen so fast. Keeping the rest for recovery hopefully!
Another good day of recovery .... climbing back as China shares sell off over done and recovering
Recovering faster than I thought it would ..... the rumour that China will lower its zero-tolerance COVID stance has helped I think
Good opening this morning - 4% gain.... awaiting Wednesday´s FED meeting....any 0.75% rise could well be the last .... peaked...
Regards China, didn’t we have 13% revenue growth in H1? Obviously product mix of that 13% was higher in terms of margin achieved. Imagine what they’re going to achieve post Covidrama.
Xi Jinping is now surrounded by loyalists in the new Standing Committee , and that has gone down badly, ...Xi decides everything and he is more of an idealologist than business friendly at the moment
Just need to keep a close eye on things
probably,when central banks...stop raising rates...imo
What do you think will be the catalyst for a turnaround here? I am concerned communist China will continue to crush the life out of Hong Kong businesses out of spite for the former British rule. There is no let up in the ridiculous 'zero covid' lockdown strategy in mainland China and border restrictions are an ongoing problem. The Tensions between China and Taiwan are at their worst for many decades also. Never mind a possible world wide recession!
I can be as patient as the next man but I'm starting to think I'm up the creek without a paddle here.
Agree, this will be back over £10 very soon imo.
I bought two lots this morning - can wait for things to improve ...... meanwhile PRU are working hard to reduce costs ( digital enhancements assisting on that ) , and gradually the Chinese will move away from property speculation and into more sustainable investing
need to be patient
Hang Seng down 6.36% overnight, lowest since 2009 as President Xi strengthens his grip on power. Not specific bad news to pru just all Hong Kong and Chinese stocks
With high inflation whi is paying for life insurance!
Mind you not much dividends + pity directors buy says it all.
£5 is more realistic if not lower.
Well you pays your money and takes your choice. This bear market has been absolutely brutal for many shares, this included - I would not like to say we have reached the nadir.
I think at these depressed levels any time now is a good buying opportunity. I am looking to average down from my original purchase price of £13.40 made in September 2021. But I am concerned that the whole market may yet have more to fall, so I might just dive in and hold my breath. Good luck to all.