A new birthday a new day ahead.
I just completed my 36th birthday a few days ago and now looking forward to a brighter future in all aspect of life.
Alright, let’s get down right to talking about the market.
The past two months have been an enormous amount of buying the dip further into some of the already covered Chinese tech stocks.
Regulation continues to dampen the mood of the market and send many leading companies into downward spiral and at one point send Alibaba into a capitulation mode.
The portfolio was heavily bleeding but I took the chance to continue further adding to my position and lowered down my average price for some of the position I was already holding.
First, I added 200 shares of Baba at the price of USD162.
I posted this trade on my Facebook page (do join them if you still have not) on the 19th August close to midnight.
The shares further capitulate more after that but I was already in a full position so did not manage to add further.
I had the chance nevertheless to add a trading position for JD at $62 after its share price decline the night following the announcement of the results but have closed them since at $74. The main position remained at 1,500 shares.
I also added a small additional position for Ping An at ~ HK$60 following the results and we haven’t seen any meaningful recovery yet from this sector. Nevertheless, the company has increased its interim dividend and one which I am looking forward to receive in the next month.
I also took the chance to build a much higher position for ISHARES HSTECH (HKG: 3067) in the past month after it gets lower once again. My position for this ETF is now sitting nicely at the current range with an average price of about HK$14.5.
Last but not least, I also managed to initiate a new position for JD Logistics at $30 for a small position. It has been impacted quite badly during this bad sentiments of the market without really impacting any to the underlying business.
On the sell part, I continue to trim my position in Lendlease REIT as the shares rebounded close to its pre-COVID high now at $0.90. This is part of the rebalancing to also add injection into position which I think has a better risk reward ratio.
The portfolio was pretty much flat from the previous month as some companies like JD offset the losses from positions like Alibaba and Ping An.
Overall, it was only up because of the additional injection, which is the second consecutive running injection I have done in the past two months.
It was a position with a lot of waiting involved, so we’ll have to be patient before we can see the ROI return.
But, regardless of the outcome, I think there’s a good reasonable chance that it would recover (perhaps not to the peak just yet) back to consolidate before we re-focuses on its earnings and growth outlook.
Stay safe and healthy and be cautious about going out. If need to, do it safely!