Weibo’s Wicked Results As Real Estate Policy Adjusts

The results beat analyst estimates handily. After Tencent’s weak advertising results yesterday, Weibo’s results are a bit of a shock. Hat tip to management on navigating the macro headwinds. It’s interesting to note that the company mentioned the Beijing Winter Olympics as a strong opportunity for the company.

In Tencent’s Q3 earnings call yesterday, President Marin Lau stated “….if there has been already a lot of regulations and the regulations in the future on an incremental basis will be smaller in terms of percentage-wise, and as the industry adapted further, then the impact on the industry will be less and less over time.” Good sign right!

There were several catalysts to today’s China and Hong Kong moves as the US and China unexpectedly agreed to work on methane and environmental issues at COP26 in advance of the Biden-Xi virtual summit next week.

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US consumer prices soared 6.2% in past year, most since 1990Prices for U.S. consumers jumped 6.2% in October compared with a year earlier as surging costs for food, gas and housing left Americans grappling with the highest inflation rate since 1990. The year-over-year increase in the consumer price index exceeded the 5.4% rise in September, the Labor Department reported Wednesday. Inflation is eroding the strong gains in wages and salaries that have flowed to America's workers in recent months, creating political headaches for the Biden administration and congressional Democrats and intensifying pressure on the Federal Reserve as it considers how fast to withdraw its efforts to boost the economy. ALL THANKS TO TRUMP PIZZING OFF CHINA AND A DOZEN OTHER COUNTRIES.
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