https://www.marketwatch.com/story/us-stock-market-is-overvalued-imf-says-2019-10-16?siteid=yhoof2&yptr=yahoo
The IMF gave its harshest assessment of the US stock market.
I believe that the US stock market must be reaching a precipice that the IMF cannot ignore anymore since the US market is the largest in the world. Any fallout from the US market will send great financial tsunami to the rest of the world.
Let's see how this will pan out.
Thursday, October 17, 2019
Wednesday, October 16, 2019
The US-China trade deal is in jeopardy again!
https://sg.news.yahoo.com/latest-protest-interrupts-hong-kong-032448776.html
The US-China trade deal is not signed yet and the US is creating troubles again.
Either the US is not sincere in reaching a trade deal with China or Trump is trying to manipulate the stock market again.
Let's see how China will retaliate against this.
The US-China trade deal is not signed yet and the US is creating troubles again.
Either the US is not sincere in reaching a trade deal with China or Trump is trying to manipulate the stock market again.
Let's see how China will retaliate against this.
China Sunsine - Stock calls
Date | Analyst | Company | Last | Target | Call | Valuation |
01/04/19 | phillip | China Sunsine | 1.2 | 1.68 | Buy | |
03/04/19 | phillip | China Sunsine | 1.26 | 1.55 | Buy | FCFE |
05/03/19 | phillip | China Sunsine | 1.17 | 1.43 | Buy | FCFE |
08/08/19 | phillip | China Sunsine | 1.08 | 1.43 | Buy | FCFE |
10/04/19 | CIMB | China Sunsine | 1.1 | 1.1 | Hold | |
10/10/19 | Amfrasers | China Sunsine | 1.12 | 1.4 | Outperform | DCF |
China Everbright - Stock calls
Date | Analyst | Company | Last | Target | Call | Valuation |
01/21/19 | DBS Vickers | China Everbright | 0.345 | 0.475 | Buy | PER15x FY19 |
02/21/19 | DBS Vickers | China Everbright | 0.35 | 0.49 | Buy | |
02/25/19 | phillip | China Everbright | 0.355 | 0.48 | Buy | PER8.9x FY19 |
05/21/19 | phillip | China Everbright | 0.385 | 0.5 | Buy | PER9x |
08/16/19 | phillip | China Everbright | 0.315 | 0.5 | Buy | PER9x |
China Aviation Oil - Stock calls
Date | Analyst | Company | Last | Target | Call | Valuation |
03/01/19 | DMG & Partners | China Aviation Oil | 1.37 | 1.5 | Neutral | |
03/01/19 | DBS Vickers | China Aviation Oil | 1.37 | 1.85 | Buy | PER12x FY19 |
03/01/19 | UOB Kay Hian | China Aviation Oil | 1.37 | 1.25 | Hold | PER8.4x FY19, Buy @ $1.1 |
03/05/19 | phillip | China Aviation Oil | 1.3 | 1.67 | Buy | PER11.5x FY19 |
03/27/19 | DMG & Partners | China Aviation Oil | 1.27 | 1.6 | Buy | DCF, PER10x, PB1.2x, Ev/Ebitda6.5x |
04/02/19 | CIMB | China Aviation Oil | 1.38 | 1.7 | Add | PER11x FY20 |
04/26/19 | DMG & Partners | China Aviation Oil | 1.43 | 1.6 | Buy | |
04/29/19 | UOB Kay Hian | China Aviation Oil | 1.39 | 1.25 | Hold | PER8.4x FY19, Buy @ $1.1 |
05/02/19 | phillip | China Aviation Oil | 1.37 | 1.67 | Buy | PER11.5x FY20 |
05/03/19 | DMG & Partners | China Aviation Oil | 1.36 | 1.6 | Buy | Sum of parts, PER5.8x FY19, ex-cash |
06/11/19 | DMG & Partners | China Aviation Oil | 1.31 | 1.6 | Buy | |
07/10/19 | DMG & Partners | China Aviation Oil | 1.3 | 1.6 | Buy | |
08/08/19 | DMG & Partners | China Aviation Oil | 1.23 | 1.6 | Buy | |
08/13/19 | phillip | China Aviation Oil | 1.18 | 1.52 | Buy | PER10.5x FY20 |
08/13/19 | DMG & Partners | China Aviation Oil | 1.18 | 1.5 | Buy | Sum of parts |
08/13/19 | DBS Vickers | China Aviation Oil | 1.18 | 1.85 | Buy | |
09/02/19 | DMG & Partners | China Aviation Oil | 1.15 | 1.5 | Buy | Sum of parts |
Stock calls for 16 October 2019
Date | Analyst | Company | Last | Target | Call | Valuation |
10/16/19 | CIMB | Keppel DC Reit | 1.99 | 1.88 | Hold | DDM |
10/16/19 | Phillip | Keppel DC Reit | 1.99 | 2.06 | Accumulate | |
10/16/19 | Lim & Tan | Keppel DC Reit | 1.99 | 0 | Hold | |
10/16/19 | DBS Vickers | Keppel Pacific | 0.76 | 0.9 | Buy | DCF |
10/16/19 | DMG & Partners | Keppel Pacific | 0.76 | 0.88 | Buy | DDM |
10/16/19 | UOB Kay Hian | Mapletree Commercial | 2.34 | 2.38 | Hold | DDM, Buy @ $2.16 |
10/16/19 | CIMB | Mapletree Commercial | 2.34 | 2.39 | Hold | DDM |
10/16/19 | OCBC | Mapletree Commercial | 2.34 | 2.28 | Hold | |
10/16/19 | Kim Eng | Mapletree Commercial | 2.34 | 2.35 | Hold | DDM |
Tuesday, October 15, 2019
Centurion - Stock calls
Date | Analyst | Company | Last | Target | Call | Valuation |
02/04/19 | DMG & Partners | Centurion | 0.405 | 0.41 | Neutral | DCF |
03/06/19 | DMG & Partners | Centurion | 0.425 | 0.41 | Neutral | DCF |
05/15/19 | DMG & Partners | Centurion | 0.405 | 0.41 | Neutral | DCF |
08/15/19 | DMG & Partners | Centurion | 0.41 | 0.43 | Neutral | DCF |
10/07/19 | DMG & Partners | Centurion | 0.4 | 0.43 | Neutral | DCF |
CEI - Stock calls
Date | Analyst | Company | Last | Target | Call | Valuation |
03/13/19 | CIMB | CEI | 0.945 | 0.97 | Hold | PER10x FY20 |
08/13/19 | CIMB | CEI | 0.985 | 0.9 | Hold | PER10x FY20 |
CDL Hospitality - Stock calls
Date | Analyst | Company | Last | Target | Call | Valuation |
01/02/19 | DMG & Partners | CDL Hospitality | 1.46 | 1.8 | Buy | DDM |
01/02/19 | CIMB | CDL Hospitality | 1.46 | 1.63 | Add | |
01/17/19 | Kim Eng | CDL Hospitality | 1.56 | 1.75 | Buy | |
01/22/19 | UOB Kay Hian | CDL Hospitality | 1.56 | 1.83 | Buy | |
01/31/19 | CIMB | CDL Hospitality | 1.63 | 1.64 | Add | DDM |
01/31/19 | Kim Eng | CDL Hospitality | 1.63 | 1.8 | Buy | DDM |
01/31/19 | OCBC | CDL Hospitality | 1.63 | 1.56 | Hold | |
01/31/19 | DBS Vickers | CDL Hospitality | 1.63 | 1.85 | Buy | DCF |
02/11/19 | CIMB | CDL Hospitality | 1.62 | 1.8 | Add | |
02/28/19 | Kim Eng | CDL Hospitality | 1.6 | 1.8 | Buy | |
03/13/19 | DMG & Partners | CDL Hospitality | 1.63 | 1.8 | Buy | |
03/26/19 | CIMB | CDL Hospitality | 1.64 | 1.8 | Add | |
04/04/19 | Kim Eng | CDL Hospitality | 1.65 | 1.85 | Buy | |
04/09/19 | DMG & Partners | CDL Hospitality | 1.67 | 1.8 | Buy | |
05/02/19 | DMG & Partners | CDL Hospitality | 1.6 | 1.77 | Buy | DDM |
05/02/19 | Kim Eng | CDL Hospitality | 1.6 | 1.8 | Buy | DDM |
05/02/19 | OCBC | CDL Hospitality | 1.6 | 1.54 | Hold | |
05/02/19 | DBS Vickers | CDL Hospitality | 1.6 | 1.85 | Buy | |
05/02/19 | UOB Kay Hian | CDL Hospitality | 1.6 | 1.99 | Buy | |
05/03/19 | CIMB | CDL Hospitality | 1.61 | 1.85 | Add | DDM |
06/06/19 | DMG & Partners | CDL Hospitality | 1.61 | 1.77 | Buy | |
06/11/19 | UOB Kay Hian | CDL Hospitality | 1.62 | 2.06 | Buy | DDM |
06/25/19 | Kim Eng | CDL Hospitality | 1.62 | 1.8 | Buy | |
07/04/19 | DMG & Partners | CDL Hospitality | 1.66 | 1.77 | Buy | |
07/15/19 | UOB Kay Hian | CDL Hospitality | 1.65 | 2.06 | Buy | |
07/31/19 | OCBC | CDL Hospitality | 1.66 | 1.56 | Hold | |
07/31/19 | DMG & Partners | CDL Hospitality | 1.66 | 1.79 | Buy | DDM |
07/31/19 | CIMB | CDL Hospitality | 1.66 | 1.92 | Add | |
07/31/19 | DBS Vickers | CDL Hospitality | 1.66 | 1.8 | Buy | DCF |
08/27/19 | UOB Kay Hian | CDL Hospitality | 1.58 | 2.06 | Buy | |
09/11/19 | DMG & Partners | CDL Hospitality | 1.63 | 1.79 | Buy | |
09/19/19 | CIMB | CDL Hospitality | 1.62 | 1.92 | Add | |
09/19/19 | Kim Eng | CDL Hospitality | 1.62 | 1.8 | Buy | |
10/01/19 | UOB Kay Hian | CDL Hospitality | 1.64 | 2.06 | Buy | |
10/02/19 | DMG & Partners | CDL Hospitality | 1.63 | 1.79 | Buy | |
10/09/19 | DBS Vickers | CDL Hospitality | 1.64 | 1.8 | Buy |
Stock calls for 15 October 2019
Date | Analyst | Company | Last | Target | Call | Valuation |
10/15/19 | UOB Kay Hian | Golden Agri | 0.21 | 0.16 | Sell | |
10/15/19 | DMG & Partners | HRnetGroup | 0.58 | 0.94 | Buy | |
10/15/19 | DMG & Partners | Hyphens Pharma | 0.199 | 0.25 | Buy | |
10/15/19 | DMG & Partners | ISOTeam | 0.225 | 0.31 | Buy | |
10/15/19 | DBS Vickers | Keppel Infrastructure | 0.545 | 0.58 | Buy | |
10/15/19 | DMG & Partners | Kimly | 0.225 | 0.23 | Neutral | |
10/15/19 | DIR | Lendlease Reit | 0.94 | 1.01 | outperform | |
10/15/19 | DMG & Partners | Moya Asia | 0.065 | 0.08 | Buy | |
10/15/19 | DMG & Partners | Oxley | 0.325 | 0.43 | Buy | |
10/15/19 | UOB Kay Hian | SATS | 4.82 | 5.3 | Buy | |
10/15/19 | DMG & Partners | Singapore Medical | 0.305 | 0.48 | Buy | |
10/15/19 | OCBC | SPH Reit | 1.15 | 1.1 | Hold | |
10/15/19 | DMG & Partners | Talkmed | 0.515 | 0.62 | Buy | |
10/15/19 | DMG & Partners | Unusual | 0.27 | 0.42 | Buy |
Monday, October 14, 2019
Trump has fallen into China's gambit.
Trump was so happy with the trade truce that he had asked his farmers to buy more lands and machinery to increase the soybean production and yield.
Unbeknownst to him, this was actually a tactical gambit by the Chinese.
https://www.scmp.com/news/china/science/article/3031579/new-soybean-could-make-china-more-self-reliant-during-trade-war
China had, in fact, produced a new soybean hybrid called Henong 71. This hybrid soybean was being tested in Xinjiang with a real production yield of 6.7 tonnes per hectare compared to the average US yield of 3 tonnes per hectare.
China has started to plant this new breed massively in China with the intention to replace US imports. When the US farmers start to commit heavily to plant their soybeans, China could reduce the US imports substantially as its retaliatory action in the future without affecting the local supply.
Unbeknownst to him, this was actually a tactical gambit by the Chinese.
https://www.scmp.com/news/china/science/article/3031579/new-soybean-could-make-china-more-self-reliant-during-trade-war
China had, in fact, produced a new soybean hybrid called Henong 71. This hybrid soybean was being tested in Xinjiang with a real production yield of 6.7 tonnes per hectare compared to the average US yield of 3 tonnes per hectare.
China has started to plant this new breed massively in China with the intention to replace US imports. When the US farmers start to commit heavily to plant their soybeans, China could reduce the US imports substantially as its retaliatory action in the future without affecting the local supply.
CapitaRetail China - Stock calls
Date | Analyst | Company | Last | Target | Call | Valuation |
02/04/19 | OCBC | CapitaRetail China | 1.48 | 1.42 | Hold | |
02/04/19 | DBS Vickers | CapitaRetail China | 1.48 | 1.65 | Buy | DCF |
02/15/19 | Phillip | CapitaRetail China | 1.39 | 1.66 | Accumulate | |
03/21/19 | Amfrasers | CapitaRetail China | 1.52 | 1.61 | Buy | DDM |
04/03/19 | DBS Vickers | CapitaRetail China | 1.57 | 1.65 | Buy | |
04/26/19 | OCBC | CapitaRetail China | 1.51 | 1.5 | Hold | |
06/11/19 | OCBC | CapitaRetail China | 1.56 | 1.5 | Hold | |
06/12/19 | OCBC | CapitaRetail China | 1.53 | 1.35 | Sell | |
06/12/19 | DBS Vickers | CapitaRetail China | 1.53 | 1.65 | Buy | |
06/12/19 | Lim & Tan | CapitaRetail China | 1.53 | 0 | Hold | |
06/14/19 | OCBC | CapitaRetail China | 1.5 | 1.38 | Hold | |
06/19/19 | Phillip | CapitaRetail China | 1.55 | 1.66 | Accumulate | |
07/22/19 | Phillip | CapitaRetail China | 1.59 | 1.66 | Accumulate | |
08/01/19 | OCBC | CapitaRetail China | 1.59 | 1.45 | Hold | |
08/01/19 | DBS Vickers | CapitaRetail China | 1.59 | 1.8 | Buy | |
08/02/19 | Amfrasers | CapitaRetail China | 1.55 | 1.68 | Outperform | |
08/26/19 | Phillip | CapitaRetail China | 1.54 | 1.66 | Accumulate | |
09/24/19 | Phillip | CapitaRetail China | 1.53 | 1.66 | Accumulate |
Capitamall Trust - Stock calls
Date | Analyst | Company | Last | Target | Call | Valuation |
01/22/19 | CIMB | Capitamall Trust | 2.26 | 2.29 | Hold | DDM |
01/23/19 | OCBC | Capitamall Trust | 2.27 | 2.12 | Hold | |
01/24/19 | Phillip | Capitamall Trust | 2.31 | 2.09 | Neutral | DDM, PB1.06x FY19 |
01/24/19 | Kim Eng | Capitamall Trust | 2.31 | 2.25 | Hold | DDM |
01/24/19 | OCBC | Capitamall Trust | 2.31 | 2.25 | Hold | |
01/24/19 | DBS Vickers | Capitamall Trust | 2.31 | 2.44 | Buy | |
01/28/19 | UOB Kay Hian | Capitamall Trust | 2.36 | 2.02 | Hold | Buy @ $1.84 |
02/15/19 | Phillip | Capitamall Trust | 2.38 | 2.09 | Neutral | |
02/28/19 | Kim Eng | Capitamall Trust | 2.42 | 2.25 | Hold | |
03/14/19 | DMG & Partners | Capitamall Trust | 2.39 | 2.2 | Neutral | DDM |
04/04/19 | Kim Eng | Capitamall Trust | 2.41 | 2.4 | Hold | DDM |
04/24/19 | OCBC | Capitamall Trust | 2.32 | 2.25 | Hold | |
04/25/19 | DBS Vickers | Capitamall Trust | 2.36 | 2.55 | Buy | |
04/25/19 | OCBC | Capitamall Trust | 2.36 | 2.32 | Hold | |
04/26/19 | Phillip | Capitamall Trust | 2.39 | 2.21 | Neutral | DDM |
04/26/19 | CIMB | Capitamall Trust | 2.39 | 2.39 | Hold | DDM |
05/27/19 | UOB Kay Hian | Capitamall Trust | 2.44 | 2.65 | Buy | DDM |
06/06/19 | OCBC | Capitamall Trust | 2.46 | 2.33 | Hold | |
06/19/19 | Phillip | Capitamall Trust | 2.57 | 2.21 | Neutral | |
06/21/19 | UOB Kay Hian | Capitamall Trust | 2.58 | 2.65 | Hold | |
06/25/19 | Kim Eng | Capitamall Trust | 2.6 | 2.4 | Hold | |
07/04/19 | DMG & Partners | Capitamall Trust | 2.71 | 2.2 | Neutral | |
07/04/19 | DBS Vickers | Capitamall Trust | 2.71 | 2.95 | Buy | |
07/22/19 | Phillip | Capitamall Trust | 2.64 | 2.36 | Neutral | |
07/23/19 | Lim & Tan | Capitamall Trust | 2.6 | 0 | Hold | |
07/24/19 | UOB Kay Hian | Capitamall Trust | 2.64 | 2.65 | Hold | DDM, Buy @ $2.42 |
07/24/19 | OCBC | Capitamall Trust | 2.64 | 2.51 | Hold | |
07/24/19 | Kim Eng | Capitamall Trust | 2.64 | 2.6 | Hold | DDM |
07/24/19 | DMG & Partners | Capitamall Trust | 2.64 | 2.38 | Neutral | DDM |
07/24/19 | CIMB | Capitamall Trust | 2.64 | 2.6 | Hold | DDM |
07/25/19 | Phillip | Capitamall Trust | 2.62 | 2.68 | Neutral | DDM, PB1.09x |
08/26/19 | Phillip | Capitamall Trust | 2.64 | 2.68 | Neutral | |
09/24/19 | Phillip | Capitamall Trust | 2.62 | 2.68 | Neutral |
Capitaland - Stock calls
Date | Analyst | Company | Last | Target | Call | Valuation |
01/02/19 | DMG & Partners | Capitaland | 3.11 | 4 | Buy | |
01/03/19 | OCBC | Capitaland | 3.07 | 3.96 | Buy | RNAV (20% discount) |
01/07/19 | CIMB | Capitaland | 3.06 | 3.55 | Add | RNAV (35% discount) |
01/15/19 | DBS Vickers | Capitaland | 3.27 | 3.62 | Buy | |
01/15/19 | Phillip | Capitaland | 3.27 | 4 | Accumulate | RNAV (20% discount), PB0.75x FY18 |
02/20/19 | Lim & Tan | Capitaland | 3.39 | 0 | Buy | |
02/21/19 | OCBC | Capitaland | 3.43 | 3.98 | Buy | RNAV |
02/21/19 | Phillip | Capitaland | 3.43 | 4 | Accumulate | PB0.75x FY19 |
02/21/19 | CIMB | Capitaland | 3.43 | 3.56 | Add | RNAV (35% discount) |
02/21/19 | DBS Vickers | Capitaland | 3.43 | 3.62 | Buy | |
03/18/19 | OCBC | Capitaland | 3.44 | 3.98 | Buy | |
03/21/19 | Lim & Tan | Capitaland | 3.47 | 0 | Buy | |
03/26/19 | CIMB | Capitaland | 3.44 | 3.56 | Add | |
04/01/19 | UOB Kay Hian | Capitaland | 3.65 | 4.4 | Buy | |
04/02/19 | Macquarie | Capitaland | 3.69 | 3.9 | Outperform | RNAV (30% discount) |
04/02/19 | OCBC | Capitaland | 3.69 | 3.98 | Buy | |
05/02/19 | Phillip | Capitaland | 3.53 | 4 | Accumulate | RNAV (20% discount) |
05/02/19 | Lim & Tan | Capitaland | 3.53 | 0 | Hold | |
05/03/19 | OCBC | Capitaland | 3.54 | 4.04 | Buy | |
05/03/19 | CIMB | Capitaland | 3.54 | 3.56 | Add | |
05/27/19 | DBS Vickers | Capitaland | 3.28 | 4 | Buy | RNAV (25% discount) |
06/12/19 | DBS Vickers | Capitaland | 3.41 | 4 | Buy | |
06/18/19 | Macquarie | Capitaland | 3.42 | 4.1 | Outperform | RNAV (25% discount) |
07/05/19 | DBS Vickers | Capitaland | 3.69 | 4 | Buy | |
07/15/19 | Phillip | Capitaland | 3.69 | 4 | Accumulate | |
07/15/19 | CIMB | Capitaland | 3.69 | 4.15 | Add | RNAV (35% discount) |
07/15/19 | OCBC | Capitaland | 3.69 | 4.04 | Buy | |
08/07/19 | OCBC | Capitaland | 3.48 | 4.04 | Buy | |
08/14/19 | Macquarie | Capitaland | 3.42 | 4.15 | Outperform | |
08/19/19 | Phillip | Capitaland | 3.4 | 4.2 | Buy | PB0.75x FY19 |
08/20/19 | CIMB | Capitaland | 3.46 | 4.15 | Add | RNAV (35% discount) |
08/22/19 | DIR | Capitaland | 3.5 | 4.1 | Buy | RNAV (20% discount) |
09/05/19 | Lim & Tan | Capitaland | 3.49 | 0 | Accumulate | |
09/06/19 | DBS Vickers | Capitaland | 3.51 | 4 | Buy | |
10/11/19 | Phillip | Capitaland | 3.51 | 4.2 | Buy |
Stock calls for 14 October 2019
Date | Analyst | Company | Last | Target | Call | Valuation |
10/14/19 | UOB Kay Hian | Propnex | 0.49 | 0.56 | Buy | PER12x FY20 |
10/14/19 | Kim Eng | Sheng Siong | 1.15 | 0.96 | Sell | DCF |
10/14/19 | OCBC | SPH Reit | 1.13 | 1.05 | Hold | |
10/14/19 | CIMB | ST Engineering | 4.02 | 4.36 | Add |
Sunday, October 13, 2019
Baltic dry index - 1924
Today, Friday, October 11 2019, the Baltic Dry Index decreased by 5 points, reaching 1924 points.
Baltic Dry Index is compiled by the London-based Baltic Exchange and covers prices for transported cargo such as coal, grain and iron ore. The index is based on a daily survey of agents all over the world. Baltic Dry hit a temporary peak on May 20, 2008, when the index hit 11,793. The lowest level ever reached was on Wednesday the 10th of February 2016, when the index dropped to 290 points.
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Related stock: Sembcorp Marine, Cosco & Pan ocean.
Saturday, October 12, 2019
Is the US going to abandon Hong Kong soon?
http://sg-stock.blogspot.com/2019/10/the-us-and-china-have-reached-hollow.html
The US and China had just reached a partial trade deal.
In order for this partial trade deal to materialize, the US and China will have to negotiate and put in writing the details. However, if the US were to continue to create chaos in HK, this trade deal might not materialize.
Therefore, the US is highly likely to abandon HK to get the trade deal done. The US will not hesitate to abandon HK because it has just abandoned its staunch Kurds.
http://sg-stock.blogspot.com/2019/10/the-usa-has-abandoned-syrian-kurds-part.html
The US and China had just reached a partial trade deal.
In order for this partial trade deal to materialize, the US and China will have to negotiate and put in writing the details. However, if the US were to continue to create chaos in HK, this trade deal might not materialize.
Therefore, the US is highly likely to abandon HK to get the trade deal done. The US will not hesitate to abandon HK because it has just abandoned its staunch Kurds.
http://sg-stock.blogspot.com/2019/10/the-usa-has-abandoned-syrian-kurds-part.html
Do not take Boeing 737 because it is a flying coffin.
https://sg.finance.yahoo.com/news/aviation-experts-blast-faa-over-131707003.html
FAA is just trying to get Boeing 737 off the ground because it is in cahoots with Boeing. FAA is ignoring passengers' safety now.
FAA is just trying to get Boeing 737 off the ground because it is in cahoots with Boeing. FAA is ignoring passengers' safety now.
HK finance chief is really brainless.
https://sg.finance.yahoo.com/news/hong-kong-urges-property-developers-092703886.html
How can the HK finance chief ask the landlords and property developers to cut rents for retailers when the banks don't cut the mortgage instalments for these landlords and developers? This is a back-to-back problem.
The HK finance chief is just trying to protect the banking sector by asking the property owners to sacrifice themselves for the greater good.
How can the HK finance chief ask the landlords and property developers to cut rents for retailers when the banks don't cut the mortgage instalments for these landlords and developers? This is a back-to-back problem.
The HK finance chief is just trying to protect the banking sector by asking the property owners to sacrifice themselves for the greater good.
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