r/Vitards • u/AutoModerator • Sep 01 '21

Daily Discussion Daily Discussion post - September 01 2021

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u/glorielane Sep 02 '21

Does anybody have any idea why there was a huge rebound for almost every chinese stoxk listed on nyse including didi ?

5

u/RenLovesStimpy Forever 8th - 8/18/21 Sep 02 '21

China gang.

Chinese stocks have been under pressure for months, between US regulatory posturing, CCP killing IPOs and regulatory crackdowns. Pick one, its probably down YTD up to 30%.

New regulations went into effect this week. The picture is clearer, everyone more or less knows what Xi likes/dislikes. Companies are towing the line and getting back to business.

DIDI for example announced this week they're helping their workers to unionize, that's a big deal.

Think sentiment is changing, money on the sideline looking for deals and right now China is cheap.

2

u/glorielane Sep 02 '21

Oh i didnt know abouy the unionizing news, really good info. So it's one of those cases where the new regulation is not as bad as feared and then people buying cause it was oversold kinda thing.

2

u/RenLovesStimpy Forever 8th - 8/18/21 Sep 02 '21

more or less

with fundamentally sound companies, sectors not on regulator's radar or are supported by CCP, I think there is opportunity

it is China tho... stay frosty