Total Assets
CNOOC commentators $BABA-W(09988.HK)$Meituan(MPNGY.US)$iShares barclays 20+ Yr Treasury Bd(TLT.US)
Still reducing positions overall, with Meituan allocation at 5%.
Flash sale intensity hasn't decreased + Alibaba may enter the local services market + overall weak consumer demand - Meituan's future looks somewhat bleak.
No further purchases of Meituan planned.
Recently reduced some Alibaba positions. Ranking of the "Three Fools":
Meituan > Alibaba slightly > JD.com
US Treasuries have been strong recently, with expectations of 50bp rate cuts now combined with dollar strength?
FX direction may change in late September, potentially negatively impacting Hong Kong stocks.
If HK market continues trading rate cut expectations next week, need to consider significant position reductions.
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