Home > November 2017 > Nov 21, 2017 Bulls, Bulls, Bulls..even Hang Seng is near 2007 highs.

Nov 21, 2017 Bulls, Bulls, Bulls..even Hang Seng is near 2007 highs.

November 21st, 2017

Futures are flat in the second hour of the Europe Session but seeing how the market moved yesterday, we will just have to assume it will be another green day after Home Sales comes out beating. All I have been reading about is how Earnings will be so good, Global Markets will be so good, etc. But, with a slowing China and Central Banks not supporting the market…how can that be? Not much happening tonight, Shanghai Futures had copper up after the sell off it has been having. There was a end of the day surge in the Hang Seng Index tonight..financial/brokers led the push.

November 2017

  • Trading_Nymph

    China is trying to slow down Property but that isn’t happening. From Reuters…HONG KONG (Reuters) – Chinese developers such as China Vanke (2202.HK) and Country Garden (2007.HK) are increasingly turning to the securitization market as an alternative fund-raising channel as the onshore bond market remains mostly inaccessible.

    FILE PHOTO: Sign of Vanke is seen at a gate of a construction site in Shanghai, China, March 21, 2017. REUTERS/Aly Song/File Photo
    Property companies are in particular stepping up the securitization of receivables from property sales, providing them with funds to develop other projects.

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    The securities took off when Chinese regulators made it harder for developers to sell onshore corporate bonds late last year in a bid to help cool an overheating real estate market.

    The issuing of such products more than tripled in the first seven months of this year from a year ago, according to data by China Securities Research.

    The China Securities Regulatory Commission did not respond to requests for comment.

    More than 11 Chinese developers have issued or announced plans this year to issue securities backed by sales receivables, including China Vanke (000002.SZ), Greentown China (3900.HK), and the state-owned Beijing Capital Land (2868.HK), up from around six last year.

    Developers typically record revenue in their books 12-24 months after contracted sales, when they actually transfer the property ownership to the buyers and pocket the proceeds. The asset-backed securities allow them to cash in on those receivables early.

  • Trading_Nymph

    Good Piece on how China is trying to unload debt, which we talked about before with their Bonds… https://www.bloomberg.com/view/articles/2017-11-20/china-looks-to-the-dumb-money-for-its-financial-industry

  • Trading_Nymph

    From Bloomberg…“Investors can be reassured by the strength and durability of the current economic cycle,” Peter Oppenheimer, Goldman’s chief global equity strategist, said in a note. “While it has already been a long cycle, the unwinding of the financial crisis has also meant that, until recently, it has been sub-par in terms of strength — as is often the case following financial crises.”

  • panther341

    LOL Hi TN. 2600 on the SPX. I went to the household hazardous waste place this morning – cleaning out the garage and under the kitchen sink.

    PANW big winner after earnings last night.

    WMT hasn’t managed a close over 100 yet – but bull flag after earnings.

    DE earnings tomorrow

  • Trading_Nymph