To The Moon

🌟🌟🌟I am a long term investor of $TRACKER FUND OF HONG KONG(02800)$ .  Yesterday the Hang Seng Index dropped taking the index to a 3 week low.  This was due to the abrupt cancellation by $Alibaba(09988)$  listing plans for its logistics unit Cainiao.

Alibaba said that it was withdrawing its IPO and listing application for Cainiao and would buy the remaining shares of Cainiao it does not already own.  Joe Tsai, Alibaba's Chairman said that he believes that this is an appropriate time to double down.

The shelving of the planned IPO comes at a time when there is slowing down of the Chinese economy, lower consumption spending and real estate issues.

Performance wise the Tracker Fund is slightly up by 0.79% for the week but is down 0.27% year todate.  In the past year the Tracker Fund has dropped by 12%.

The Top 10 holdings include Tencent Holdings, HSBC, Alibaba, AIA, Meituan, China Construction Bank, China Mobile, Industrial and Commercial Bank, Hong Kong Exchange and CNOOC. 

The Top 10 holdings takes up 52% weightage of the ETF.  Total number of holdings is 82.

$TENCENT(00700)$  is the world 's largest video game publisher.  Tencent also owns WeChat also known as Weixin in China.  It is a multi purpose messaging and social media app with over a billion users.  It offers various services including messaging, payments and access to mini programs that function as apps within the platform, creating a digital ecosystem.  Tencent is a huge conglomerate with stakes in more than 600 companies.   In the past year Tencent is down by 20% but it is currently up by 1.8% year todate. 

$Alibaba(09988)$  is a holding Company for 6 major business groups - Taobao and TMall Group, Alibaba International Digital Commerce Group, Cloud Intelligence Group, Local Services Group, Cainiao Smart Logistics Network, and Digital Media and Entertainment Group.   In the past year Alibaba  is down by 18% and is down by 7.9% year todate. 

$MEITUAN-W(03690)$  has a popular Chinese shopping platform for locally found consumer products and retail services including entertainment, dining, delivery, travel and other services.   Meituan is up 14% year todate but in 2023 it has dropped by 32%.

The current dividend yield of the Tracker Fund is 3.89% paid every 6 months.  The Tracker Fund is one of the oldest ETFs in Hong Kong, established in 1999.  It is also one of the largest with a market capitalisation of HKD 124.04 billion. 

Hong Kong is the gateway to China and the Tracker Fund is a great way to tap into the huge potential growth of China, the world's 2nd largest Economy. 

I am keeping faith on Tracker Fund as I believe that it is currently undervalued and oversold.  As Warren Buffett likes to say When there is fear in the markets it is time to be greedy. 

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