Simon Shares Big banks now all have released results, mostly good albeit off low base. Covid cases in China surge, new lockdowns. Hello, more supply chain mess. People asking if I updated my view on Purple Group* (JSE code: PPE). Nope, volatility likely helping the revenue, but I need new data (results) first. Commodities weak, brent oil now in a technical bear market. China makes peace with tech Prosus (JSE code: PRX) and Naspers (JSE code: NPN) now flying (+20% n Wednesday). Discount still +50%. Reports of WeChat being hit with a massive fine for money laundering?money laundering
China's state council has in one move just:
*Pledged to keep capital markets stable
*Vowed to support overseas stock listings
*Said dialogue with US re ADRs is 'good'
*Promised to handle risks for property developers
*Clarified regulation of Big Tech will end 'soon'
*BOOM pic.twitter.com/xHYgcbchCo
— Sofia Horta e Costa (@SofiaHCBBG) March 16, 2022
