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Less than 48 hours later news broke of China olive branch, Alibaba and other stocks had their biggest rally since 2008 crash.

What a banana skin ..

Its nice to end the week on a bit of an upbeat note after such a crazy week.

JPMorgan look to have sold around half their holding at 29 HK dollars perhaps in response to their own bearish note

Pinched from another forum (posted 14th March):

"JP morgan describes Chinese internet stocks as being “uninventable” over next six months to a year.Has cut forecast on Alibaba to $65 which seems a bit late given its already fallen two thirds in the last 12 months.Other stocks have been downwardly revised ie JD.Com etc.Of course,this sort of recommendation keeps storm clouds firmly over all Chinese listed equities."

https://sc.hkexnews.hk/gb/di.hkex.com.hk/di/NSNoticePersonList.aspx?sa2=np&scpid1=15358&scpid3=0&scpid2=344192&sa1=pl&scsd=12%2f03%2f2021&sced=12%2f03%2f2022&pn=JPMorgan+Chase+%26+Co&src=MAIN&lang=EN&g_lang=en&

Jatw, a while back LSE had some browser checking page load, seems to have gone now though.

Thanks, I have no idea what's involved or how long the factory inspections take, if it was a day or so and not protracted staff may be able to get an exemption to travel.

My comment on the presentation in terms of a bullish tone relates to the upbeat nature but also (I think it was Christian) who mentioned 'two, billion dollar products' - need to listen to it over but pretty sure this was in response to Suru & Fruq analyst question.

Any thoughts on FDA approval (subject to manufacturing inspections), reviewing the results presentation the tone seemed quite bullish, slide 18 highlights -

"Commercial & Medical Affairs staff in place with plan to reach 84 by H2 2022 launch"

U.S. FDA – NDA Status
• Remaining clinical & manufacturing site inspections pending
• Mid- & late-cycle review meetings complete
• PDUFA is Apr 30, 2022 subject to FDA scheduling limitations

EMA – MAA Status
• Completed the 120-day assessment, & now entering the later
stages of MAA review

Perhaps its down to a bit of fizz in the retail sector, Ted Baker attracting bid attention this morning.

https://www.lse.co.uk/rns/TED/statement-re-possible-offer-69it9gnsrxob3om.html

There was something in that Boo TU on March 10th that change investors opinions, it's not obvious but could be the lack of any bad news even though all else was pretty mundane.

Another possibility is the point scoring Ai software which reads these allocating a score to each word, good or bad, it could be the lack of negatives resulted in a higher than normal score.

My mistake, it hasn't closed yet another half hour

I would have thought the SEC may make a gesture too, that could have a dramatic effect on markets.

Closed at 30.55 HK which should equate to 2.99 or thereabouts.

It looks like the move has momentum rather than just a one off article or press release.

Rally has caught the shorts offside thinking they had a one way bet.

In political terms, that's a big olive branch by China imo and could remove the uncertainty which has been overhanging the market for some 2 years now.

Market makers, prop traders franticly working the book trying to drum up business, whatever could they want ??

No worries bud, and thanks for your posts over the years which kept my interest in HCM.

Similar coverage

Hong Kong stocks soar as China pledges support

Updated / Wednesday, 16 Mar 2022 09:25

https://www.rte.ie/news/business/2022/0316/1286742-hang-seng-index-soars-9/

China says it will support Chinese IPOs abroad, calls for closure on tech crackdown

PUBLISHED WED, MAR 16 20224:15 AM EDT

Chinese and U.S. regulators are progressing toward a cooperation plan on U.S.-listed Chinese stocks, state media said, citing a financial stability meeting Wednesday chaired by Vice Premier Liu He.

https://www.cnbc.com/2022/03/16/china-says-it-will-support-chinese-ipos-abroad-calls-for-closure-on-tech-crackdown.html

Its been around along with a series of other measures since Dec 2020, didn't stop the share price going to 6.20p odd or a large placing in June 21, not that long ago.

As mentioned before, analysts didn't seem that concerned on the call which was only a day or so before the big drop, topic was never raised?

If I have my sums right closed at equivalent 2.54 in HK

This also option wise;

"unless the Act is amended to exclude the Company .."

Not exactly sure what that means but perhaps they introduce a qualifying criteria rather than Chinese based companies only, either way this is all a long way off 2024.

Being bid up across the pond, currently approaching $ 16 ..

The only bad reports are from people who don't own the stock, or have sold other peoples stock they also don't own and now need to buy back.

Its a bit of a read but some encouraging signs prices are beginning to stabilise.

https://www.ams.usda.gov/mnreports/dywweeklyreport.pdf

HCM may have just been brought down with the other stuff, Hang Seng down at 5 year lows, in fact well below - HCM's HK quote seems a tad weaker then the other two, London follows NASDAQ but HK is lower still.

Picked up my last tranche yesterday, one to sit on for a bit until global outlook improves.

Market makers read these boards like everyone else, never a good idea to post you are thinking of selling - most will know you have built a fair stake over the years.

In terms of the delisting if it ever happens, as mentioned previously HK is home to US institutions from the last fund raising in June 21.

During the Q A, several analysts raised the number of exchanges including Shanghai but no one mentioned the kerfuffle that was about to ensue, either they all missed it or it wasn't that important a question?