“中国沉没” - The Sinking of China

[k1976]

Xi Jinping’s vision of a modern financial system with “Chinese characteristics” increasingly means that hopes of Shanghai one day rivaling major financial centers like New York or London are drifting away.
Photographer: Qilai Shen/Bloomberg
Business
The Big Take

Xi Unleashes a Crisis for Millions of China’s Best-Paid Workers​

China created a professional class in record time. Now, just as swiftly, many of their dreams are being crushed.


By Bloomberg News
September 19, 2024 at 7:00 AM GMT+8

It’s 1 a.m. and Thomas Wu is riding his bike on the empty streets of Shanghai. The 43-year-old insurance executive has had another meltdown.

Wu’s pay has been slashed by 20% in a nationwide push to lower salaries at state-owned finance companies.

He frets about layoffs and wonders how he’ll find 600,000 yuan ($84,500) to keep his two children in international school — a hallmark of upper-middle-class life in China. His six-year-old is behind in math.

Have a confidential tip for our reporters

 

[k1976]

Sorry, i got it wrong.
50bp cut

No worries....basic direction no change

Heng Ong Huat to All

 

[k1976]

Is a much welcome super late relief for many

 

[k1976]

Big Take Asia: China's Bankers Reel From Xi Crackdown​

Big Take Asia​

China's Bankers Reel From Xi Crackdown​

17:15



China’s drive to upgrade its struggling economy has left millions of people facing job losses or pay cuts, fueling an existential crisis among some of its best and brightest workers. On today's Big Take Asia Podcast, host K. Oanh Ha talks to Bloomberg's Lulu Chen about the impact Xi Jinping’s push is having on professionals, from banking to tech, and what this anxiety could mean for the outlook of the world’s second-largest economy.

 

[k1976]

https://www.communicationstoday.co.in/chinese-chip-stocks-surge-on-equipment-breakthrough-claims/

Made In China Immersion Litho machine made by ChangChun Optoronic

 

[k1976]

China is rechannelling $$$$$ from Financial Sector to High Tech?

 

[k1976]

Industry Disputes Morgan Stanley’s Dramatically Lowering Target Prices of SK Hynix and Samsung​

• Editor Kim Eun-jin
• 2024.09.18 23:39

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Morgan Stanley released a report drastically lowering target stock prices of SK Hynix and Samsung Electronics on September 15.
On September 15, Morgan Stanley released a report drastically lowering SK Hynix's target stock price by 54%, from 260,000 won (approximately $200) to 120,000 won, and adjusting Samsung Electronics' target stock price downward by 27.6%, from 105,000 won to 76,000 won. The reasons cited were a decrease in demand for general DRAM due to reduced smartphone and PC demand and an oversupply of high-bandwidth memory (HBM), leading to price drops. Morgan Stanley also downgraded its investment opinion on the Korean tech sector from “neutral” to “cautious.”

 

[k1976]

Morgan Stanley predicts that next year, the supply of HBM by memory companies will reach 250 billion gigabits (Gb), exceeding the demand (150 billion Gb) by 66.7%. It also forecasts that Samsung Electronics' full-scale entry into the HBM market will be a major cause of the oversupply.

The semiconductor industry views this outlook as excessively pessimistic. They argue that Morgan Stanley ignored the characteristics of the HBM market, which produces customized products with customer approval. SK Hynix and Samsung Electronics have publicly announced that "HBM volumes are sold out until 2025."

 

[k1976]

Citi Sets Expectations on Micron Stock Ahead of Earnings​

Marty ShtrubelSep 18, 2024, 08:28 AM

Micron’s (NASDAQ:MU) earnings are coming with the memory giant slated to announce its F4Q24 results on September 25 after the market closes.

With the print about to drop, it looks like some bulls on Wall Street have been getting cold feet. Fears of a DRAM oversupply have surfaced, leading to lowered expectations.

Citi analyst Christopher Danely is also amongst those expecting soft results and a disappointing outlook on account of “legacy DRAM weakness

 

[Ah Max]

ze demise of ze hang seng index sayz it all.

 

[nightsafari]

Sorry, i got it wrong.
50bp cut

yah... I was just going to say... means also must be worse than people think.

 

[k1976]

Micron’s stock drops as first ‘death cross’ in 2 years appears​

Published: Sept. 16, 2024 at 1:55 p.m. ET
By

Tomi Kilgore​

Last death cross appeared in April 2022 — and the stock fell another 30% before bottoming 5 months later​

Shares of Micron Technology Inc. slumped Monday, just as a longer-term bearish chart pattern appeared for the first time in more than two years — a warning that losses could start accelerating.
Monday’s weakness comes as Morgan Stanley analysts gave a downbeat assessment of the outlook for Micron and the memory-chip market, as they believe earnings-growth expectations will peak and reverse in the coming quarters, which could lead to a near-30% contraction in valuation for the sector.
The Morgan Stanley analysts kept the rating on Micron’s stock MU at equal weight, but slashed the price target to $100 from $140

 

[k1976]

Asian Currencies Hit 14-Month High as Fed Cuts Interest Rates​

• Malaysian ringgit climbs to highest in more than two years
• Growth prospects also make Asian currencies more attractive

By Marcus Wong
September 19, 2024 at 2:54 PM GMT+8
Updated on
September 19, 2024 at 3:42 PM GMT+8
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Asian currencies advanced to the strongest level in more than a year after the Federal Reserve kicked off policy easing and signaled further interest-rate reductions this year.

The Bloomberg Asia Dollar Index rose 0.2% on Thursday, bringing the gauge to the highest since July 2023. The Indonesian rupiah and South Korean won led the gains, while the Malaysian ringgit climbed to the highest since 2022.
https://www.bloomberg.com/tips/

 

[Dr Christopher Cheok C S]

This week, a japanese 10 years old boy fatally stabbed in China
bastard chinese extremists proclaimed the killer a hero online

Schoolboy's killing in China sparks Japanese fears​

https://www.bbc.com/news/articles/ckg9nwxy388o

 

[Dr Christopher Cheok C S]

3 months ago, another Chinese attacked a school buy ferrying Japanese students in Suzhou
https://www.reuters.com/world/asia-...ing-japanese-woman-child-nhk-says-2024-06-24/

 

[syed putra]

People forget china is now the biggest consumer on the planet. Not the US.
US allies face a predicament of having to choose between supplying to the US or China. They are forced to take sides.

 

[Dr Christopher Cheok C S]

 

[Dr Christopher Cheok C S]

M1 Supply y/y growth weakest/sharpest drop in decades

 

[Dr Christopher Cheok C S]

Panic Mode: Stimulus Blitz this week by People's Bank of China this week
https://www.bloomberg.com/news/arti...ees-banks-to-lend-more-cuts-key-interest-rate

• The PBOC will reduce the 7-day reverse repo rate by 20bps.
• The PBOC will cut the reserve requirement ratio by 0.5%, a move that will free up1 trillion yuan ($142 billion) in liquidity
• China may also cut the RRR further this year by another 0.25 to 0.5% at the appropriate time.
• The PBOC will cut the 1 Year MLF rate by 30bps
• The PBOC will also lower the rates for existing mortgages and cut the down payment ratio on second homes to 15% from 25%.
• The deposit rate will be lowered to "neutralize" the impact on bank margins.

 

[k1976]

Panic Mode: Stimulus Blitz this week by People's Bank of China this week
https://www.bloomberg.com/news/arti...ees-banks-to-lend-more-cuts-key-interest-rate

• The PBOC will reduce the 7-day reverse repo rate by 20bps.
• The PBOC will cut the reserve requirement ratio by 0.5%, a move that will free up1 trillion yuan ($142 billion) in liquidity
• China may also cut the RRR further this year by another 0.25 to 0.5% at the appropriate time.
• The PBOC will cut the 1 Year MLF rate by 30bps
• The PBOC will also lower the rates for existing mortgages and cut the down payment ratio on second homes to 15% from 25%.
• The deposit rate will be lowered to "neutralize" the impact on bank margins.

Tiongkok "Whatever-it-take" Basooka

All problems resolving soon