New York Times (January 9)
“Saudi Arabia is throwing open its doors to global investors.” From February, all overseas investors “will be allowed to buy and sell shares directly in 262 listed companies.” The question is whether they will want to. “The Tadawul All Share Index is down over the past year, vastly underperforming both the S&P 500 and major global stock indexes.” It is “the Gulf region’s biggest and worst-performing stock exchange,”
Tags: Buy, Global investors, Gulf region, Index, Overseas investors, S&P 500, Saudi Arabia, Sell, Shares, Stock exchange, Tadawul, Underperforming, Worst-performing
Reuters (August 22)
The “boom-to-bust saga” of China Evergrande Group drew closer to the end with its formal “delisting from the Hong Kong stock exchange on Monday,” which as the largest by market value and volume in recent years.” For investors, “the journey has been anything but grand.” After achieving a $9 billion market cap in its 2009 IPO, Evergrande rocketed ahead, growing “more than five-fold to $51 billion eight years later only to plummet to earth,” with it’s current value approximately $282 million and creditor claims of approximately $45 billion. “The company’s journey from stock exchange darling to a pariah in the financial markets is a cautionary tale of unbridled debt-fuelled expansion in the world’s second-largest economy.”
Tags: Boom, Bust, Cautionary tale, China. Evergrande, Creditor claims, Debt-fuelled, Delisting, Expansion, Hong Kong, Investors, IPO, Market value, Pariah, Stock exchange, Volume
