Hong Kong

The Cardinal Sin Of International Finance

"...the prime directive of any organism - whether it’s an amoeba or a person or a corporation or a government - is to survive... That’s why the US government protects the petrodollar so zealously. It needs the system to survive..."

Asian Stocks Smash Records; Dollar Slides As Crude Surges To July 2015 Highs

Global shares hit another record high on Wednesday, propelled higher by what increasingly more call (ir)rational exuberance, and investors’ unflagging enthusiasm for tech stocks, even as the yield curve continued to flatten. Meanwhile, oil jumped to 2.5 year highs pressuring yields as the dollar slid to a one month low.

Tencent Overtakes Facebook As Hong Kong Stocks Flash-Smash Overnight

Hang Seng futures exploded over 5% higher as after hours trading began last night, then crashed back to unchanged as the underlying cash index hit its highest since Nov 2007 on the heels of a surge to new record highs for Chinese tech giant Tencent - which is now larger than Facebook by market cap.

Xi Jinping Pledges To "Strengthen Relationship" Between Saudi Arabia And China

In what can only be described as a masterful play to entice Saudi Arabia to list shares of Aramco in Hong Kong (assuming the kingdom follows through with the listing, which is reportedly in jeopardy) Chinese state media reported Friday that President Xi pledged to strengthen the relationship between China and Saudi Arabia as the latter tries to reform its economy.

Muddy Waters Proved Right As Huishan Dairy Prepares For Liquidation

Huishan’s troubles should be a cautionary example for investors, said Charles Macgregor, head of emerging markets research at Lucror Analytics. “There is very likely more Huishans out there, this type of behavior is hardly isolated to a few bad apples.”