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On March 25th, Pop Mart (09992.HK) held its 2025 annual results press conference. Chief Operating Officer Si De stated that LABUBUs celebrity friends will continue their "global travels," appearing at the World Cup in June and participating in the 100th Macys Thanksgiving Day Parade at the end of the year. Looking at the medium- to long-term plan, LABUBU will also have content formats such as picture books and movies, all currently in the preparation stage. Wang Ning, Chairman and CEO of Pop Mart, stated at the 2025 annual results press conference that the company aims to achieve a growth rate of no less than 20% in 2026.On March 25th, Morgan Stanley issued a report stating that Lao Pu Gold (06181.HK) performed strongly in the first quarter of this year, and its earnings per share for the first half of the year are expected to double year-on-year. The stock is attractively valued, currently trading at a forward P/E ratio of 13x for 2026, with upside risk to the earnings forecast. Management did not comment on fundraising needs but acknowledged tight cash flow. The bank believes that the recent sharp decline in gold prices has brought uncertainty to market demand, but it is also a good opportunity to test whether its brand strength can support a continued revaluation. Morgan Stanley raised its revenue and net profit forecasts for Lao Pu by 13% to 14% respectively, expecting year-on-year growth of 55% and 66% in 2026, reaching RMB42 billion and RMB8 billion respectively. Morgan Stanley maintained its target price for the group at HKD1010, but due to gold price volatility and demand uncertainty, lowered the target P/E ratio from 23x to 20x, maintaining an "overweight" rating.On March 25, the Peoples Bank of China issued the third tranche of central bank bills for 2026 through the Hong Kong Monetary Authoritys Central Moneymarkets Unit (CMU) bond bidding platform via interest rate bidding. The issuance amounted to 60 billion yuan, with a maturity of 6 months and a winning bid rate of 1.48%.Shares of Pop Mart (09992.HK) in Hong Kong fell as much as 21% to HK$171.1. The news comes as Pop Marts net profit for 2025 is projected to surge 308.8% year-on-year, but revenue is below expectations.According to Japans Jiji Press, Japanese Prime Minister Sanae Takaichi has requested International Energy Agency Executive Director Fatih Birol to release additional oil reserves.

Short SPX: Top Trade Opportunities

Skylar Shaw

Apr 15, 2022 10:51

It's possible that the shot across the bow is to blame. The rally, which started in late March, will be closely monitored since it might be a "sucker's rally" rather than a relief rally. If this is the case, Q2 is likely to see a lower high.


Price isn't expected to rise much over 4600, if at all. A rally that extends beyond that point may still fail as a double-top. The market normally does not retrace more than 60-70 percent of the slide off the record high to reach the classic topping sequence of a high, major drop, lower-high before the massive bear market sell-off.

WEEKLY CHART OF THE S&P 500

It may take some time for the downward trend to become an outright drop. The longer it goes on, the bigger the sell-off is going to be. It's preferable for markets to have fast, painful drops rather than long topping cycles that finally lead to quick selling.


This might be a new leg higher to a new record high, but the background for a massive top seems to be as strong as it has been in recent history. If this is the case, the whole year should be turbulent, providing traders with plenty of possibilities.

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