‘Big Short’ Investor Michael Burry Puts Out Cryptic Hong Kong Tweet As Alibaba, Nio Soar In Strong Hang Seng Open – Alibaba Group Holding (NYSE:BABA)

“The Big Shorter” trader Michael Burry has created a cryptic tweet about Hong Kong, perhaps indicating his stance about stocks stated in the area.

“As for me, I like Hong Kong,” he tweeted. Apparently, Burry’s tweet coincides with a stellar opening by the Hold Seng index on Monday, rising about 3% as China eased some of its COVID limits, easing testing procedures in some metropolitan areas.

Screenshot of Burry’s tweet

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Shares of Alibaba Group Holding Ltd BABA rose in excess of 4%, when Nio Inc NIO jumped over 11%. Xpeng Inc XPEV shares rose above 20% in early morning trade whilst Li Automobile LI shares rose around 9%.

In late October, Hong Kong’s benchmark index Dangle Seng fell below the 15,000 mark for the to start with time because April 2009 as investors continued to flee mainland Chinese stocks following President Xi Jinping’s historic consolidation of electric power.

Valuations: Burry had then tweeted his acquire on the index, conveying how Hold Seng valuations have dropped considerably as opposed with figures in 1997. He observed the Hang Seng index lately hit concentrations very similar to the place it was 25 decades back on the other hand, valuations have declined significantly with earnings falling seven occasions, in contrast with 25 occasions back then, regardless of GDP ballooning by 18 times.

“Meet the new boss, same as the old manager. The Hang Seng not too long ago hit 1997 levels. 25 yrs. Still GDP multiplied 18 situations throughout that time. 1997 valuations have been 20x Earnings, 10x EV/Sales, 3x Tangible guide. Now 7/1/1. Notice, 3 of past 4 Premiers served 3 phrases,” Burry experienced tweeted.

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