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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: sense who wrote (176733)	8/19/2021 4:08:47 AM
From: TobagoJack	Read Replies (1) \| Respond to of 217713

bullish bloomberg.com Toyota Plunges on Report Chip Shortage to Force 40% Output Cut River Davis 19 August 2021, 14:24 GMT+8 Toyota Motor Corp. slumped as much as 4.7% after a report the worsening chip shortage will force the world’s No. 1 automaker to cut global production for September by 40% from initial plans. Toyota had intended to build about 900,000 cars next month, based on a forecast drawn up in July, but that number has been reduced to about 500,000 units due to chip supply issues, the Nikkei reported without attribution Thursday. A growing outbreak linked to the delta variant of Covid-19 across Southeast Asia has also impacted upon the Japanese company’s procurement of auto parts, the newspaper said. A spokesperson for Toyota declined to comment. Toyota maintained its annual operating profit outlook earlier this month, disappointing investors that had been buoyed by its peer-beating financial performance on the back of brisk global demand for automobiles. The carmaker kept its forecast for 2.5 trillion yen ($22.7 billion) for the fiscal year through March, versus analysts’ average projection for 2.95 trillion yen. While a shortage of automotive chips has hindered many rivals’ ability to capitalize on strong global demand for cars over the past nine months, Toyota up until now had been relatively unimpaired due to its supply-chain savvy and the strong stock it keeps of key components such as semiconductors. An alarming Covid outbreak in Southeast Asia has however weighed on the company. Toyota has a large manufacturing presence in Thailand, where case numbers have been hitting records. Read more: Nike, Adidas Output Snarled as Covid Shuts Asian Factories Last month, Toyota said it was extending production halts in Thailand due to Covid-related parts shortages. The carmaker’s plants in the country have combined production capacity of 760,000 units per year. Shares of Toyota’s suppliers and affiliates also tumbled, with Toyota Industries Corp. sinking 4.1% and Aisin Corp. down 5.8%. Toyota Industries generates 12% of its revenue from Toyota, according to Bloomberg data, while Aisin gets 57% of its sales from the automaker. Read More: The World Is Short of Computer Chips. Here’s Why: QuickTake (Updates with context on Thailand from 7th paragraph.) Before it's here, it's on the Bloomberg Terminal. LEARN MORE

To: sense who wrote (176733)

8/19/2021 4:10:50 AM

From: TobagoJack

Read Replies (1) | Respond to of 217713

bullish

bloomberg.com

Alibaba Sinks to Record in Hong Kong as China Widens Crackdown

19 August 2021, 14:54 GMT+8
Alibaba Group Holding Ltd. shares slumped as much as 5.4% to a record low in Hong Kong on Thursday, extending a selloff in Chinese technology giants after Beijing hit the industry with a fresh round of regulations.

Shares dropped after China said it is studying separate proposals to further ensure the rights of drivers who work for online companies and to step up oversight of the live streaming industry.

Sentiment for China’s largest advertising platform also soured after peer Tencent Holdings Ltd. executives said in a post-earnings conference call that the government can make fairly substantial changes to how companies use data for advertising.

Beijing’s recent crackdowns on the tech sector wiped off about $1 trillion of market value from Chinese shares listed globally last month as they quickly expanded from antitrust and e-commerce concerns to private tutoring, data security and online content.

Alibaba’s shares have slumped 30% this year in Hong Kong compared to a fall of just under 7% for the Hang Seng Index. Its U.S.-listed shares, which have been trading since 2014, are down about 26% for the year and still far away from their record lows.

The selloff has prompted some global fund managers including Cathie Wood to dump their holdings in Chinese stocks over the past few months. In fact, some investors are questioning allocations toward Chinese assets altogether.

The new moves are incremental but investors are not at a point where they “will cease to price in any more additional policies,” said Shine Gao, fund manager at Taicheng Capital Management Co. “Even if the worst is over for big tech firms in terms of new regulations, we should expect that their growth won’t be what it was.”

China’s Regulatory Juggernaut

China’s Summer of Stock Market Turbulence: A Timeline

China Eyes Wealth Redistribution in Push for ‘Common Prosperity’

China Signals Businesses Face Greater Regulation in Coming Years

China Crackdown Angst Spreads to Vice Stocks After Media Reports

Xi Crackdowns Look to Whip China’s ‘Lying Flat’ Youth Into Shape

The Hang Seng Index fell as much as 2.3% Thursday while the Hang Seng Tech Index, which counts many Chinese tech giants as its members, dropped to the lowest since its July 2020 inception.

Tencent reversed earlier gains of as much as 3.4% to trade down nearly 3% in Hong Kong as its warnings for more regulatory curbs on the industry overshadowed second quarter earnings that beat estimates.

READ: Tencent Warns of More China Tech Curbs After Growth Sputters

Among other tech names, food-delivery giant Meituan tanked as much as 7.2%, following a similar drop in ride-hailing company DiDi Global Inc. in the U.S. Video streaming giant Kuaishou Technology slid as much as 4.7%.

— With assistance by Abhishek Vishnoi, and April Ma

(Updates share price moves.)

Before it's here, it's on the Bloomberg Terminal.
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To: sense who wrote (176733)	8/19/2021 4:15:18 AM
From: TobagoJack	Respond to of 217713

ultra bullish zerohedge.com Macau Casino Stocks Plunge To Five Year Low Amid COVID Travel Restrictions Travel restrictions across mainland China following the latest COVID-19 outbreak have likely dented Macau's gross gaming revenues (GGR) in August. According to brokerage Bernstein, daily GGR plunged from an average of $16 million from Aug. 1-8 to $10 million over the past seven days, the lowest daily figure since September 2020. Even though Macau, an autonomous region on the south coast of China, known for giant casinos, is reopened, visitation to the popular destination area from 6 to 12 August was 78% lower than in July. [url=][/url] The estimated GGR for the first 15 days of August combined is 87% lower than August 2019 and 62% below July 2021 at $193 million. Bernstein analysts Vitaly Umansky, Louis Li and Kelsey Zhu, told clients in a note on Monday that "travel ability and demand worsened over the past week due to the COVID contagion." "Macau now has 14-day mandatory quarantine or 'health management' on travelers from districts in more than 30 cities of 11 provinces in China (but seven cities of four provinces were removed from the list over the past week). "The current COVID situation in China will last at least a month with disrupted travel to Macau." Both analysts expect August GGR to print 80% below August 2019 and 50% below July 2021. They expect visitations to casinos in the coming months to remain soft due to the emergence of the virus. Macau's casino stocks have plunged to a 5-year low on the prospects of declining GGR in August. Source: Bloomberg "The whole environment looks unfavorable for Macau and other travel-related industries," said Bloomberg Intelligence analyst Angela Hanlee. A separate report by Dutch bank ING outlines a growing concern of slower economic growth for China in August and beyond. "Strict social distancing measures also limit people flows around the Mainland, which limits domestic leisure travel and spending during the summer holidays." The critical understanding is the emergence of the virus is slowing the global economy once more. China is doing everything in its power, especially cutting rates, to prop up a sagging economy.