Market Round Up: That Was The Week That Was 😖 China Rich List 💰

by | 12 Oct, 2018

 

1. That was the week that was

Some week! Markets everywhere slid and even the S&P 500 saw its longest decline since 2016. With the VIX volatility index surging ahead of all the selloff there’s a hint of a further meltdown, ruining chances of a restful weekend for investors.

With stocks taking a battering from earnings worries and rising government bond yields, it’s looking like much more than merely a market correction. Going forward, with the Fed’s normalisation process firmly on track, consumer sentiment could start to pare back as money in their pockets begins to tighten. Meanwhile the spectre of a protracted trade war with China may also weigh more prominently on expectations of future economic conditions. And with credit agency, Moody’s, triple A rating likely to stand firm in its update today, some will be looking for any hint
that President Trump’s government spend unbuckling is threatening the country’s future credit health.

Elsewhere, every market is wrapping itself as best it can in order to avoid catching the fiscal cold! So far, contagion is proving impossible to avoid!

 

2. China rich list not so rich

No coincidence, but the typhoon season has seen many Chinese tycoons fall off the latest Hurun Rich List. In fact the blame is being placed squarely on the Sino-U.S. spat.

According to the latest report, 456 businessmen dropped out of a total of 2,130 a year ago. That’s a 21% fallout. The list includes people with more than 2 billion yuan ($290 million) in net worth. Still, the number of Chinese making the rich list is up nearly 90% from five years ago. When the rich list was first started there were only eight people with more than 2 billion yuan on the list.

Whilst the number of rich Chinese has grown overall, evidence shows that wealth has become more concentrated with the top 10 rich people accounting for 10% of the overall wealth. Top of the list after a four year absence is Alibaba’s Jack Ma with a net worth of $39 billion – up $10 billion thanks to the rise in valuation of his Ant Financial payments business.

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ALL RIGHTS RESERVED © INVSTR LTD. 2018

Risk Disclosure:

Invstr is a technology platform, not a registered broker-dealer or investment adviser. Invstr does not offer its own recommendations of any security or provide its own research to any user regarding any security transaction or order.

Please note, investing involves risk and investments may lose value. Past performance does not guarantee future results.

Brokerage services of US-traded securities, including fractional trading, are provided to Invstr users by DriveWealth, LLC a registered broker-dealer and member of FINRA/SIPC. DriveWealth may not establish investment accounts to residents of certain jurisdictions. 

DriveWealth provides no tax, legal, or investment advice of any kind, nor does DriveWealth give advice or offer opinions with respect to the nature, potential value, or suitability of any securities transaction or investment strategy. DriveWealth acts as the clearing firm for securities transactions entered on the Invstr mobile platform. DriveWealth is not affiliated with Invstr. Invstr does not participate in DriveWealth’s decision-making.

There is no minimum initial deposit required to open an investing account with DriveWealth. Expenses and Fees associated with the DriveWealth platform in conjunction with Beanstox includes either a monthly membership fee of $4.99 with a commission charge of $0.01 per share* or, in the event the membership fee is not paid, a commission charge of $0.0125 per share applies, subject to a minimum of $2.99 per transaction. There are no monthly minimum fees, or required ongoing minimum account balance. For non-resident aliens, there is a one-time tax verification fee of $5.00 (representing Form W-8BEN pass-through processing cost). View a full list of our fees at http://bit.ly/DWFees

The monthly subscription charge is four dollars and ninety-nine cents (US$4.99) per month plus one cent (US$0.01) per share traded (as examples, for a Transaction of 0.90 shares, the per share traded charge is one cent (US$0.01), and for a Transaction of 1.6 shares, the per share traded charge would be two cents ($0.02), and the quarterly subscription charge is fourteen dollars and ninety-nine cents (US$14.97) every 3 months plus one cent (US$0.01) per share traded. The monthly and quarterly subscription charges may be greater or less depending on additional services offered by a DriveWealth partners as part of the subscription model offering, or based on any subsidies provided by a DriveWealth partner as part of the subscription model offering. For non-resident aliens, there is a one-time tax verification fee of $5.00 (representing Form W-8BEN pass-through processing cost).View a full list of our fees at http://bit.ly/DWFees

This communication is not an offer or solicitation to purchase or sell securities. Investing in securities carries risk, including the loss of principal. Past performance is not indicative of future returns, which may vary. Online trading has inherent risk due to system response and access times that may be affected by various factors, including but not limited to market conditions and system performance. An investor should understand such facts before trading. The risks associated with investing in international securities, including US-listed ADRs and ETFs that contain non-US securities include, among others, country/political risk relating to the government in the home country; exchange rate risk if the country's currency is devalued; and inflationary/purchasing power risks if the currency of the home country becomes less valuable as the general level of prices for goods and services rises. Before investing in an ETF, an investor should consider the investment objectives, risks, charges, and expense of the investment company carefully. ETF prospectuses are accessible within the mobile application via a link under each company’s “Description.”

A fractional share is a share of equity ownership that is less than one full share. Fractional share investing has certain limitations and restrictions that investors should understand prior to purchasing fractional shares: ownership of less than one full share does not give the fractional share owner the right to vote on company matters; fractional shares are non-transferrable, meaning they cannot be transferred to another brokerage firm; and fractional share orders will be accepted as market orders only. For more information and details on fractional shares, and any associated limitations or restrictions please visit: https://drivewealth.com/fractional-shares-disclosure

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