China makes peace with big tech (#485)

Simon Shares Big banks now all have released results, mostly good albeit off low base. Covid cases in China surge, new lockdowns. Hello, more supply chain mess. People asking if I updated my view on Purple Group* (JSE code: PPE). Nope, volatility likely helping the revenue, but I need new data (results) first. Commodities weak, brent oil now in a technical bear market. China makes peace with tech Prosus (JSE code: PRX) and Naspers (JSE code: NPN) now flying (+20% n Wednesday). Discount still +50%. Reports of WeChat being hit with a massive fine for money laundering?money laundering China's state council has in one move just: *Pledged to keep capital markets stable *Vowed to support overseas stock listings *Said dialogue with US re ADRs is 'good' *Promised to handle risks for property developers *Clarified regulation of Big Tech will end 'soon' *BOOM pic.twitter.com/xHYgcbchCo — Sofia Horta e Costa (@SofiaHCBBG) March 16, 2022   * I hold ungeared positions.