Chart of the Day: Manufacturing accounts for 53% of Shanghai Stock Exchange, next is trading. Shenzhen is even higher 69%, but has grown Info Tech companies to be 8.4% of the market. Becoming ‘Silicon Valley’ of China, if not the world.
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Chart of the Day: Shenzhen Stock Exchange has about 2,000 listed companies, considerably higher than Shanghai. Shanghai has grown slightly faster over the last three years.
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Chart of the Day: In terms of number of listings Shenzhen accounts for 61% and Shanghai 39%. In terms of market capitalization it’s the opposite Shanghai 61% and Shenzhen 39%.
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Chart of the Day: From its humble beginnings in 1993 the Chinese market now has more than 3,000 listed companies. Meanwhile, the rest of the world has seen a fall in the number of listed companies.
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Global Equity FVMR Snapshot: Emerging markets still look relatively cheap on PE and PB. Global markets have an ROE of 12.8%, driven by the US. Excluding US, the ROE is only at 10.6%.
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In our Top 5 this week, we look at the basics of asset allocation, discover why financial knowledge is useless, and examine out-of-sample testing. All this and more…
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Chart of the Day: Besides China A, the lowest USD returns have been in ASEAN markets. Taiwan and India beat HK due to currency impact. Return in Thailand was the poorest in local currency, USD return was more than double.
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After winning several high-stakes online gaming tournaments as a teenager, Mr. Peeradechapan reinvested his winnings in a roasted chestnut business. Later, he founded his deep-fried seaweed snack company that became an immediate success throughout Asia. He is already a business icon in Thailand, replete with a movie thinly based on his life.
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If the value of equity of a company is trading at a low 0.5x price-to-book value then the debt will appear as a large portion of capital. If the value of equity is trading at an expensive 4.0x then debt appears tiny. But debt never changed.
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How does an analyst forecast sales growth? What if a company is in a cyclical industry? What if the company has very volatile sales growth? Is it wrong to forecast a steady growth rate for each of the future years?
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