China economic slowdown, Tencent & Sea Ltd's troubles mount
THIS WEEK IN MARKETS
There were a few crazy headlines that caught our attention in the past week.
“China’s now testing live fish in its bid to stop Covid spreading” (Source: Bloomberg)
“Steven Lim claims he sold his HDB flat & put S$300,000 in SingPost shares” (Source: Mothership)
“University student makes $110m trading meme stock favourite Bed Bath & Beyond” (Source: Financial Times)
It’s an interesting world we live in right now. But amid the noise in the market, let’s not lose sight of the elephant in the room – China’s economic slowdown.
The unemployment rate amongst youths aged 18-24 has soared to 20%. Economic data for both the industrial and retail sectors were weaker than expected.
We’d be looking out closely for developments here, including the results of JD.com and Xpeng coming up next week.
IMPORTANT
Source: Bloomberg. Price as of market close on 19 Aug...