✨ Value Investing Substack NEWS | What Value Investing Really Means - Asymmetric Risk:Reward
Buffett Can Buy 50% Occidental Stake, Dalio Liquidates Alibaba, WeWork Founder Rises from Ashes, Tencent to Divest Meituan, Malaysia GDP +8.9%, Turkey Cuts Rates, NK to SK: "Shut Up", 8 Billion Humans
Author’s note: I will be taking a 1-month break to recuperate as mentioned in my latest article linked below. This market news blog will switch to a bi-weekly schedule during that time.
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Stock Markets:
Warren Buffett gets permission to buy up to half of Occidental Petroleum
ThaiBev may opt not to proceed with BeerCo spin-off; ‘no final decision’ on timing (Retail - Thailand)
Tech
China’s biggest Wall Street bull just liquidated his Alibaba stake amid fire sale of five Chinese stocks (Bridgewater’s Ray Dalio)
Soros reloads on big tech with Amazon, Google and new Tesla bet
Tencent and Alibaba have lost more value this year than any other company in the world
Hedge fund Elliott dumps SoftBank stake after souring on Masayoshi Son | FT
The SPAC King Goes Silent With His Empire Shriveling | Bloomberg
You can now use AirAsia Food to order air-flown dishes from Penang to the Klang Valley (E-commerce - Malaysia)
Semiconductors
Tech: CHIPS Act will transform global semiconductor industry
US chipmakers hit by sudden downturn after pandemic boom | FT (Tech - America)
Taiwan chip veteran calls working for China’s top foundry SMIC a ‘foolish’ decision (Taiwan)
China Has Painted Itself Into a Semiconductor Corner | Bloomberg
GT Voice: Japan needs to be mindful of poison behind US chip drive
Malaysia's semicon industry to benefit from Chips and Science Act - MSIA (Malaysia)
A New Normal Is Dividing the Global Chip Industry | Bloomberg (Tech)
Commodities
There Won't Be Enough Copper to Meet Climate Goals | Bloomberg
Glencore cuts ties with Chinese trader over missing $500mn of copper | FT
Europe faces critical shortage of metals needed for clean energy | FT (Europe)
Scarcity changes the LME warehousing game in Malaysia and elsewhere (Commodity - UK)
Macro
ASEAN:
Malaysian economy smashes forecasts, growing 8.9 percent in Q2 (Malaysia)
Malaysia’s Economy Expands 8.9% in the Second Quarter, Fastest Pace in a Year | Bloomberg (Malaysia)
Mismatch between purchasing power and market prices making houses unaffordable (Malaysia)
Mahathir’s strange unite-and-divide plan (Malaysia)
Zahid and Najib were involved, says declassified report (Malaysia)
Myanmar refuses to allow Asean special envoy to meet Aung San Suu Kyi (Myanmar)
Myanmar junta court jails Suu Kyi for six years for corruption (Myanmar)
Locked in – Why Thailand buys electricity from Laos (Thailand)
America:
Morgan Stanley’s Shalett Warns of ‘Head Fake’ in Inflation Data
Volatility investor warns of false dawn for US equities market
Fed sees interest rate hikes continuing until inflation eases substantially, minutes show
Fed’s Mary Daly says it is too early to ‘declare victory’ on inflation fight | FT
Liz Cheney is considering a presidential run to stop Trump after losing her House seat
Obama did not keep classified documents, the National Archives confirms.
Asia:
China Shocks With Rate Cut as Data Show ‘Alarming’ Slowdown | Bloomberg
One of the Decade's Hottest Bond Markets Is Imploding in China
Russian GDP drops 4% in Q2 -- 1st full quarter of fighting (Russia)
Eurozone:
Turkey shocks markets with rate cut despite inflation near 80% (Turkey)
UK inflation hits new 40-year high of 10.1% as food and energy price surge continues (UK)
Sweden's government has decided to extradite a Turkish man ahead of the NATO deal (Sweden)
Nervous central bankers are watching Australia closely | FT (Australia)
Scotland to become first country in world to provide free period products (Scotland)
Mind the gap: Southern European economies have diverged (Europe)
Others:
News & Other:
Former Deutsche Bank co-CEO Anshu Jain dies (Finance - America)
Rakesh Jhunjhunwala: Tributes for India's 'stock market king' who died at 62 (India)
Salman Rushdie on ventilator after being stabbed on stage at New York state event
Nuclear Fusion Breakthrough Confirmed: California Team Achieved Ignition
If You're from Poor or Middle-Class Families, Hollywood Is Nearly Impossible to Navigate
Vietnam Vet talks about how it really was over there [Reddit]
People in China trying to escape as IKEA Shanghai was getting full lockdown spontaneously due to COVID [China - Reddit]