Tuesday, July 29, 2014   




Hazy on VODone

Monday, June 23, 2014

The Dow Jones and S&P 500 index rose to new highs as nothing new came from a Federal Reserve policy meeting.

It seems it is still favorable to hold equities for the coming year. Unfortunately, the money is flowing mostly into US and European equities or even to certain emerging markets such as India and Taiwan, but not very much to Hong Kong and the mainland.

The integrity of a listed company is so important. Hong Kong-listed VODone (0082), some call it China's YouTube, was down 9 percent before trading was suspended on Friday.

Nine senior executives of China Mobile Games and Entertainment, a US-listed subsidiary of VODone, have reportedly been removed from their posts for alleged bribery.

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VODone stock is known to be volatile and price fluctuations have always been accompanied by good and bad news. Whether you make huge profits or losses depends on on whether you know what they announce.

This week's economic calendar will include mainland industrial profits.

Australia welcomed more investment from China. But chartists say the Aussie dollar has formed a "double top" and will likely drop 5 percent to 0.89 US cent level. Dr Check and/or The Standard bear no responsibility for any investment decision made based on this column.


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