Monday morning links
Inflation pressures, LONGi Green Energy, the Asian toy industry, investing in Vietnam, Stan Druckenmiller, David Einhorn, Mark Mobius
The recent spike in inflation is causing central banks to raise interest rates across the region. For example:
Reserve Bank of Australia raised the cash rate by 50bps last week to 0.85% and said the inflation rate would breach the 6% level.
Reserve Bank of India just raised its repo rate by 50bps and dropped the “accommodative” wording in its policy stance while trying to defend the rupee from depreciating.
Bank Indonesia now thinks the June inflation rate will go above its target range of 2-4%, potentially forcing it to act.
The effect of these rate hikes should be negative for economic growth, all else equal.
The Money Corner on solar module producer LONGi Green Energy (601012 CH — US$68 billion)
(estimated reading time) ($ = behind a paywall)
I wrote an overview of Asia’s toy industry (19 mins) ($)
I wrote a book review of Andy Ho’s Crossing the Street, about investing in Vietnam (24 mins)
Variant Perception is not seeing signs of a significant market bottom yet (1 min)
A review of Philip Bowring’s new book on modern Philippine politics (5 mins)
A quick OECD Economic Outlook for June 2022 (3 mins)
The World Bank: Global Economic Prospects report for June 2022 (176 pages)
Stan Druckenmiller believes we could be in for a hard landing (1:08 hours)
David Einhorn discussing the case for gold (18 mins)
Dawn Fitzpatrick on Bloomberg Wealth (24 mins)
Mark Mobius on emerging markets funds (58 mins)
Sam Zell discusses his background and his career (54 mins)
Dan Rasmussen on how to invest during crises (1:05 hours)
Victor Shih on Little Red Podcast on living with China’s COVID policy (46 mins)
Strategist Bert Gochet thinks China’s zero-COVID policy might work (37 mins)
Ivo Sarjanovic on the supply & demand for soybeans (45 mins)
Asianomics: How Hong Kong lost its lead in semiconductors (14 mins)
Allocators Asia: How the Kiwi fruit was brought to China (9 mins)
(Highest market cap for announced buybacks last week; min market cap: US$200m)
AIA Group (1299 HK — US$120 billion)
Great Wall Motor (2333 HK — US$42 billion)
OCBC (OCBC SP — US$37 billion)
China Vanke (2202 HK — US$29 billion)
CK Asset (1113 HK — US$24 billion)
(Highest market cap for stocks with insider buys <7 days; min market cap: US$200m)
Home Product Center: US$20.3k (HMPRO TB — US$5.3 billion)
Allo Bank: US$344k (BBHI IJ — US$5.1 billion)
Kumho Petrochemical: US$4.1k (011780 KS — US$3.7 billion)
Converge Information: US$2k (CNVRG PM — US$3.1 billion)
Hang Lung Group: US$122k (210 HK — US$32 million)
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