Overseas Headlines – December 4, 2023

December 4, 2023


United States:

Morgan Stanley’s Wilson Says December to Be Rocky for Stocks

US stocks are headed for a rocky end to the year after rallying in November as bond yields fluctuate, according to Morgan Stanley’s Michael Wilson.

The strategist — who remained broadly bearish this year even as the S&P 500 gained nearly 20% — said in a note that December could bring “near term volatility in both rates and equities” before more constructive seasonal trends as well as the so-called “January effect” support stocks next month.




BOE Official Urges UK to Seek Services and EU Trade Boost

Bank of England policy maker Swati Dhingra said the UK can “punch above its weight” as an economy by tweaking trade policies and regulations, particularly with the European Union.

The economist who is an expert in trade said Britain needs to harness its dominance in services exports and consider “very ambitious” measures to boost ties with the EU, including extending the Northern Ireland protocol to the rest of the UK.




China Youths Swap City Dreams for Country Living as Jobs Crisis Mounts

Gong Chengqiang used to make 200,000 yuan ($28,000) a year in Hangzhou in a tech company before it shuttered during Covid. He now grows strawberries in rural Zhejiang province, and is expecting to lose at least the same amount after 40% of his harvest was destroyed by disease.

The 30-year-old decided to move to the countryside after an attempt at finance blogging failed, and he developed an interest in fruit. Fellow bloggers pledged angel investment for Gong, who aspires to change the taste, quality and price of 20 different types of fruit. Gong is committed to seeing the idea through, but struggles with feelings of isolation, especially as his parents are disappointed with his decision.




Analyst Certification – The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation(s) or view (s) expressed by that research analyst in this research report.

Company Disclosure – The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.