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Props didn't want anyone buying in the auction this morning, grabbed some but had to work for it.

That looks okay to me, but wasn't expecting too much either given other sector announcements.

Cessation of merger payments in 2024 will change the dynamic, long dated debt, comfortably inside covenants can afford to ride this out until market improves.

Lot baked in already..

That's cracking news, what a win for Hutchmed/Takeda and of course patients that will benefit.

Hi volume in HK, prop traders hard at work, may need a day or two to settle down.

There's a lot of bad news already baked in surely ?

Outlook is going to be similar for most companies until rates start to ease, it wasn't that long ago I had to pay my bank to deposit funds due to negative rates on EUR.

Yup, the exodus by investors is causing downward pressure on most funds, interest rates needs to reverse otherwise pensions and so forth are going to look dire for everyone.

Is this Matt making a statement of being ' Silver back' v the city?

There's a time for gestures like this, but with all that's going on in the world right now humour is in short supply.

Stifel have joined Cenkos on the sell side.

SVS Dowgate Wealth Funds ICVC - UK Small Cap Growth Fund have popped up as exiting, these guys were only recent buyers too (see earlier posts).

Too funny, going to be a few on here going ape when they see that..BOL

IMF raises China GDP forecast after Beijing’s policy moves

https://www.cnbc.com/2023/11/07/imf-raises-china-gdp-forecast-after-beijings-policy-moves.html

ZYN is very much fundamental to PM's future strategy

https://uk.investing.com/news/stock-market-news/philip-morris-internationals-expansion-in-smokefree-products-and-strong-zyn-momentum-reinforces-confidence-morgan-stanley-3177620

'In his speech to Parliament, King Charles said that the Government would 'introduce legislation to create a smoke-free generation by restricting the sale of tobacco… and restricting the sale and marketing of e-cigarettes to children'.

https://www.dailymail.co.uk/health/article-12719811/Rishi-Sunak-defies-Tory-revolt-vows-create-smoke-free-generation-law-banning-children-aged-14-buying-cigarettes.html

China going all out on the charm offensive

https://www.cnbc.com/2023/11/06/yellen-to-host-chinas-he-lifeng-for-talks-ahead-of-apec-.html

Updating with todays six month figures, certainly gaps closing but HCM still out in front by a fair margin.

I can't see how these movements have anything to do with PDUFA decision, this is quite broad rally.

HCM+28%

Innovent +18%

Beigene -0%

Junshi -13%

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HCM certainly has momentum behind it…..but china pharma recent performance has been selective- last 6m

HCM+13%

Innovent +10%

Beigene -23%

Junshi -38%

Going to make short sellers jumpy everywhere..

South Korea stocks surge more than 5% for best session since March 2020 after short-selling ban

https://www.cnbc.com/2023/11/06/asia-stock-markets-live-updates.html

Thankfully no one hurt, prominent position for MP logo which matches the red on tyres or is that part of it ?

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Retailing in general, since last posting on this subject British Land share price hit a 20 year low

"We are the largest direct owner and operator of retail parks in the UK. They account for 61% of our Retail & London urban logistics portfolio"

https://www.britishland.com/about-us/our-portfolio

The next paragraph is this - could it be someone like British Land that replaces Softbank with an Ingenuity equity stake ?

"Urban logistics in central London is the fastest growing part of the logistics market. We focus on sites within the M25 and Zone 1 of London, where supply is highly constrained."

Interesting Jatw, only takes one, still high hopes for Takeda.

Chinese authorities stepping up measures to stabilise the stock market, could be one reason why H & G are now fully long.

https://www.chinadaily.com.cn/a/202310/31/WS65403f56a31090682a5eb8af.html

For a while M & G have fluctuated their holding with part of it being short, something in the order of 5m shares or so - this position has now been reversed making their holding 100%, you would have to go back quite far to see the last time this occurred.

https://sc.hkexnews.hk/gb/di.hkex.com.hk/di/NSForm2.aspx?fn=CS20231102E00003&sa2=an&sid=344192&corpn=HUTCHMED+(China)+Ltd.&sd=04%2f11%2f2022&ed=04%2f11%2f2023&cid=0&sa1=cl&scsd=04%2f11%2f2022&sced=04%2f11%2f2023&sc=13&src=MAIN&lang=EN&g_lang=en&

Talking of bell weathers one of the largest tracker type funds holding just shy of $100b of assets, its the flagship of BlackRock's iShares group dwarfing many other funds.

https://www.ishares.com/uk/professional/en/products/244049/ishares-core-msci-eafe-etf

It holds THG (scroll to bottom, then search) but more importantly is their weighting categories, Consumer discretionary still sits at forth place unlike some smaller funds which have moved this up a notch.

When you see shipping giants like Maersk wipe off 20% in one day you know things are slowing up real fast (oxymoron?)

Hard to time exactly, just have to be in before everyone else is.

Auson. I think we have to leave it there as danger of sending people to sleep.

Its not an easy topic to research as these strategies are manly proprietary and well guarded, some related information can be found under 'synthetic options' which explains similar principals on risk.