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Growing middle-class income could mean increased spending on consumer products and services in emerging markets.
Alibaba Group Holding Limited
The Coca-Cola Company
New Oriental Education & Technology Group Inc.
Huazhu Group Limited
Vipshop Holdings Limited
Tata Motors Limited
Grupo Televisa, S.A.B.
Companhia Brasileira de Distribuição
LG Display Co., Ltd.
GOL Linhas Aéreas Inteligentes S.A.
Tupperware Brands Corporation
Fang Holdings Limited
Jumei International Holding Limited
Crocs (CROX) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Today we'll look at Tupperware Brands Corporation (NYSE:TUP) and reflect on its potential as an investment...
(Bloomberg Opinion) -- We tend to think of language as the driver of thought, but what if it is something older? Motion has been a part of human thought ever since we could walk upright, if not before. Our Masters in Business guest this week, Barbara Tversky, professor of experimental psychology at Stanford and Columbia University, believes action is the key factor driving human cognitive development. The author of more than 200 research papers, her new book is "Mind in Motion: How Action Shapes Thought."Tversky’s research focuses on visual-spatial reasoning and collaborative cognition. She discusses the interplay of mind and body in enabling cognition. Consider gesture as an example. Tversky argues that gesturing is more than just a by-product of speech: it literally helps us to think. An experiment in her book is to try to explain out loud how to get from your house to the supermarket, train station, your office or school while you sit on your hands. It turns out to be very difficult. Without gesture, speaking is difficult, and we occasionally can’t find the words.Tversky was married to the deceased psychologist Amos Tversky, and helped Michael Lewis do his research for his book on Amos Tversky and Daniel Kahneman, "The Undoing Project."Her favorite books can be seen here.You can stream/download the full conversation, including the podcast extras on Apple iTunes, Overcast, Spotify, Google, Bloomberg and Stitcher. All of our earlier podcasts on your favorite pod hosts can be found here.Next week, we speak with Chris Davis, chairman and chief executive officer of Davis Selected Advisors LP, with more than $25 billion under management. Davis is also on the board of Coca Cola and is vice chairman of the American Museum of Natural History.To contact the author of this story: Barry Ritholtz at email@example.comTo contact the editor responsible for this story: James Greiff at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Barry Ritholtz is a Bloomberg Opinion columnist. He is chairman and chief investment officer of Ritholtz Wealth Management, and was previously chief market strategist at Maxim Group. He is the author of “Bailout Nation.”For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The China coronavirus has caused turmoil in global markets and has hurt the Chinese economy. With no end in sight to the virus and little information coming out of China, the extent of the economic ramifications remains unclear.
The Australian dollar has fallen below the 0.6750 level early during trading on Tuesday but has seen buyers underneath is crucial level to turn things around slightly. That being said, the question now is whether or not the worst has passed?
With coronavirus worries on the rise, the market continues to struggle with the unenviable task of factoring in absolute terms its implied economic devastation. Given that China has rapidly increased its role in the global supply chains, the market continues to price in the worst case, negative growth shock scenarios.
It could be another choppy day ahead for the majors. While economic data out of the U.S will influence, the majors will be in the hands of the news wires.
(Bloomberg) -- This is a nerve-wracking week for global investors with exposure to Chinese assets: the country’s markets are closed for the Lunar New Year, leaving them unable to hedge risks arising from the coronavirus epidemic.Still, there are a range of stock and bond proxies listed in the rest of Asia, Europe and the U.S. that offer a way to trade -- even when the country is closed:U.S. ListingsAs many as 79 Chinese companies have their ordinary shares or depositary receipts in the New York Stock Exchange, according to an exchange publication. That includes Alibaba Group Holding (consumer-discretionary), PetroChina Co. (energy) and Yum China Holdings (restaurant chain).Nasdaq-listed stocks include JD.com, Baidu Inc. and NetEase Inc.Most of these companies reflect the re-focusing of China from an export-driven economy to a domestic-consumer story. The inevitable impact of the virus on economic activity may hurt these companies, but there’s also a counter argument.As China locks down tens of millions of people, discouraging them from physical shopping and traveling, some may turn more toward online transactions, boosting the fortunes of these firms.The S&P/BNY Mellon China ADR Index, which tracks depositary receipts on both exchanges, fell 6% last week, the biggest plunge since September.Movers overnight:Alibaba drops most since Oct. 18, erases this month’s gainsPetroChina ADR takes three-day decline to 5.5%Yum China drops as much as 8.2% before paring lossesBaidu drops a fifth day, the longest streak since Nov. 20JD.com fell the most since Sept. 27NetEase extended its retreat to a sixth dayEuropean ETFsA clutch of ETF listings in Europe offers a way to wager on the issue.While China has an agreement with the London Stock Exchange to help companies make initial public offerings in the U.K. capital, the plan is still in an early stage.For now, funds do the heavy lifting. The iShares MSCI China A UCITS ETF, which tracks China A shares, has assets close to $800 million and has given investors a 25% return in the past year. Its top holdings include the beverage company, Kweichow Moutai Co., and Ping An Insurance Group.Paris and Frankfurt offer products too.The Lyxor China Enterprise HSCEI UCITS ETF, traded in the French capital, has a market capitalization that’s 23% below its total assets of 627.6 million euros ($692 million). That may tempt investors who believe China can spring back from the crisis.The Xtrackers MSCI China UCITS ETF in Frankfurt gives traders greater exposure to technology and consumer companies in the world’s second-largest economy. With Alibaba and Tencent Holdings among its top picks, the fund offers a way of trading U.S.-listed Chinese companies before New York markets open.Movers overnight:iShares MSCI China A UCITS ETF (London) dropped 6.4%, most since May 7Lyxor China Enterprise HSCEI UCITS ETF declined 5%, biggest drop since February 2016 Xtrackers MSCI China UCITS ETF drops to a six-week lowCurrenciesThe offshore yuan trades round the clock. On Monday it closed down 0.8% at 6.9866, compared with the onshore currency’s close on Thursday at 6.9368.In one of the few Asian markets open on Monday, the Thai baht weakened for a third day and extended its decline on Tuesday.Other China proxies in the currency market include the Australian dollar, which weakened more than 1% versus the greenback on Monday. And commodity-related foreign-exchange markets, such as the Russian ruble, South African rand and Chilean peso, slumped as energy and metals prices tumbled.DerivativesSingapore offers an opportunity to trade Chinese assets in similar hours to Shanghai or Shenzhen.The city-state offers offshore futures of China’s mainland listings (known as A shares) based on the underlying FTSE China A50 Index. The current near-month contract trades at a discount to the underlying index that’s six standard deviations off its mean. Most of the gap is due to the Chinese holidays and could close when the markets reopen.The Cboe China ETF Volatility Index has gained 65% in the past five sessions -- though the U.S.-oriented Cboe Volatility Index, or VIX, is up 92% in that time. The VXFXI was starting at a higher base, however, closing on Jan. 17 at 16.47 compared with 12.10 for the VIX.Movers overnight:FTSE China A50 February contract plummets to a discount of 666 points to its underlying indexU.S. ETFsAs many as 54 American ETFs provide a vehicle for investors to buy Chinese stocks, bonds and even commercial paper. The top five of these funds have assets of almost $16 billion. That may seem negligible compared with China’s equity-market capitalization of $7.5 trillion, but given the market has only opened up to global capital in recent years, it represents the largest opportunity for investors.U.S. ETFs investing in Chinese assets received $360 million of inflows last week, a 76% drop over the previous week, according to data compiled by Bloomberg. But that was the biggest inflow among emerging-market nations, a pointer to China’s dominance in the asset class even in these stressed times.Movers overnight:iShares MSCI China ETF falls below its 50-day and 100-day moving averagesiShares China Large-Cap ETF has the biggest three-day loss since August\--With assistance from Joanna Ossinger and Tomoko Yamazaki.To contact the reporter on this story: Srinivasan Sivabalan in London at email@example.comTo contact the editors responsible for this story: Alex Nicholson at firstname.lastname@example.org, Carolina WilsonFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
What happens in China with regards to the coronavirus will determine the direction of the Aussie and Kiwi.
How far off is The Coca-Cola Company (NYSE:KO) from its intrinsic value? Using the most recent financial data, we'll...
The Australian dollar has gotten absolutely hammered during the open on Monday, breaking down below the 0.68 level. That being said, the market is still sitting above several minor support level that could come into play. Beyond that, we are at historically cheap levels.
Colgate's (CL) fourth-quarter 2019 results are likely to reflect benefits from its accelerated investment in brands, higher pricing, robust volume growth and strong innovation.
(Bloomberg) -- The sometimes strained relationship between Ankara and Washington may be enjoying a period of calm, giving Istanbul stocks “a window of opportunity” to gain in 2020, said one of Turkey’s best-performing equity fund managers.A steady stream of negative headlines testing the alliance has stopped since Iran-U.S. tensions threatened to escalate into conflict. It seems that the crisis has been good in reducing relative risks attached to Turkey’s market, said Haydar Acun, the managing partner at Marmara Capital in Istanbul.A series of clashes with the U.S. in recent years culminated in the fallout from Turkey’s decision to purchase a Russian missile defense system that started arriving in July. Even so, a cordial personal relationship between presidents Donald Trump and Recep Tayyip Erdogan has survived the disputes. And while plans for parts of a battery of U.S. sanctions against Turkey have progressed, the punitive measures have yet to be imposed.“I do not expect things to get significantly worse from here as far as U.S.-Turkey relations are concerned for about nine months to a year, until the U.S. Presidential elections, and that’s likely to help Turkish equities’ risk premiums drop,” Acun said in an interview.Acun’s Marmara Capital Asset Management Equity Fund returned 75% in 2019 compared with a gain of 25% for the benchmark BIST 100 Index. That performance was pipped only by Is Investment’s index-tracking technology stocks fund, according to the Turkey Electronic Fund Platform.ETF InflowsInvestors poured $11.2 million into the two largest exchange-traded funds that focused on Turkish equities last week. The benchmark index was 0.8% lower Monday, joining a global sell-off as concerns about the deadly coronavirus outbreak increased risk aversion.Acun expects improved economic growth and falling interest rates to also support local equities this year. “As long as there’s not another major geopolitical crisis, we don’t see an imminent threat that can weigh on Turkish markets.”The rally in Turkish equities that has carried the benchmark index to record highs this year was largely driven by gains in shares in small and medium-cap companies that started in the second half of 2019. While these segments have been a favorite allocation for Acun, he is moving in 2020 into shares of larger-capitalized, core industrial companies that he said have been laggards. As a result, he has added Anadolu Efes, Coca Cola Icecek, Borusan and Petkim to the fund.Here are some other opinions from the interview with Acun:Sees banks rallying fast should there be a thorough plan to tackle non-performing loans. About 20% of his investments are in lenders.In this sector, he has positions in Akbank, Halkbank and Yapi Kredi. Acun said he may increase his position in Yapi Kredi as he sees Unicredit’s stake sale in the company as a positive in resolving problems related to management.Foreign investor perception of Turkey risks remains bad. But he doesn’t expect further outflows. “Those who didn’t want to take the risk left anyway.”(Adds capital flows into ETFs and Monday’s equity market performance in sixth paragraph.)To contact the reporter on this story: Tugce Ozsoy in Istanbul at email@example.comTo contact the editors responsible for this story: Blaise Robinson at firstname.lastname@example.org, ;Onur Ant at email@example.com, John Viljoen, Celeste PerriFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Based on the early price action, downside momentum is driving the trade. This should lead to a test of an uptrending Gann angle at .6772.
The British pound is steady at the start of the week. The Australian and New Zealand dollars are trading at multi-week lows, as the China coronavirus has raised investor risk apprehension.
WHO decision should trigger a volatile response in financial markets and is likely to determine the direction of global stock markets over the near-term.
Traders are going to continue to debate whether the RBA and RBNZ should cut rates in February, but last week’s economic data has cooled thoughts of automatic cuts.