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2021-12-21

It’s very confusing with some saying it’s a bear market fr 2022-2023 and some saying it’s upside. I hope it will be positive too.

Analyst Predicts 'New Normal' For Stock Market In 2022<blockquote>分析师预测2022年股市将出现“新常态”</blockquote>

2021-12-13

$MAPLETREE NORTH ASIA COMM TR(RW0U.SI)$I’ve faith in you! Add oil and go to the moon 🌕🌍🌙💫

2021-12-10

$MAPLETREE COMMERCIAL TRUST(N2IU.SI)$Go go go!

2021-10-25

$CapLand IntCom T(C38U.SI)$With reports of more than double NPI of $242.6 million for 3QFY, IThink today the price is gonna go up! Positive news!

2021-10-19

$MAPLETREE LOGISTICS TRUST(M44U.SI)$I believe when reopening comes, logistics will do well! All the best to M44U.SI! Waiting for dividends too!

2021-10-08

So sad, CICT is the top decliner. I thought I can sell today . Looks like gotta hold til finanacial statement is out

抱歉，原内容已删除

2021-10-08

Nice

抱歉，原内容已删除

2021-10-06

Hurray! It’s alive again!

抱歉，原内容已删除

2021-10-02

$MAPLETREE COMMERCIAL TRUST(N2IU.SI)$Only stock on hand making small profits when stock price went down yesterday. Waiting to collect dividends in November ….

2021-09-29

$CapLand IntCom T(C38U.SI)$Waiting for year end for it to go up to $2.35 or will it not?

2021-09-26

$OVERSEA-CHINESE BANKING CORP(O39.SI)$good time to buy now! When 2022 comes that’s when you will laugh your way to the bank [Grin]

2021-09-20

$MAPLETREE INDUSTRIAL TRUST(ME8U.SI)$I have full confidence in this stock. Strong backing by Temasek and data is the in thing now!

2021-09-18

Waiting for reopening for it to hit $14?

2021-09-18

There’s hope! It’s up again!

2021-09-18

2021-09-18

https://mp.weixin.qq.com/s/-2Dkl0ke7-3pgmYt65S-2A

2021-09-13

Aiyo I m waiting to let go. Don’t know when is the best time

Risk of 'hard' stock-market valuation correction is growing, says Deutsche Bank -- here's why<blockquote>德意志银行表示，股市估值“硬”调整的风险正在增加——原因如下</blockquote>

2021-09-03

I’m just waiting for the right timing. Please go up,up and away!

2021-09-03

So share price may drop?

Apple relaxes App Store rules for services such as Spotify and Netflix<blockquote>苹果放宽了Spotify和Netflix等服务的应用商店规则</blockquote>

2021-09-02

$Dynatronics(DYNT)$hope this will go up up andaway!

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t’s very confusing with some saying it’s a bear market fr 2022-2023 and some saying it’s upside. I hope it will be positive too.","listText":"It’s very confusing with some saying it’s a bear market fr 2022-2023 and some saying it’s upside. I hope it will be positive too.","text":"It’s very confusing with some saying it’s a bear market fr 2022-2023 and some saying it’s upside. I hope it will be positive too.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/693273922","repostId":"1124657950","repostType":4,"repost":{"id":"1124657950","kind":"news","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1640045076,"share":"https://www.laohu8.com/m/news/1124657950?lang=zh_CN&edition=full","pubTime":"2021-12-21 08:04","market":"us","language":"en","title":"Analyst Predicts 'New Normal' For Stock Market In 2022<blockquote>分析师预测2022年股市将出现“新常态”</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1124657950","media":"Benzinga","summary":"Brad McMillan, chief investment officer for Commonwealth Financial Network, recently released his 20","content":"<p><b>Brad McMillan</b>, chief investment officer for Commonwealth Financial Network, recently released his 2022 Market and Economic Outlook report.</p><p><blockquote><b>布拉德·麦克米伦</b>英联邦金融网络首席投资官最近发布了2022年市场和经济展望报告。</blockquote></p><p> One of the main themes of this year’s report: the return to normal for the market and the economy in 2022 that McMillan is expecting, and what it will look like.</p><p><blockquote>今年报告的主题之一是：麦克米兰预计的2022年市场和经济将恢复正常，以及它会是什么样子。</blockquote></p><p> <b>2022 Targets:</b>The good news for investors is that McMillan is anticipating more upside for the&nbsp;<b>SPDR S&amp;P 500 ETF Trust</b>&nbsp;in 2022. Commonwealth Financial Network has a year-end 2022 S&amp;P 500 price target of 5,000, suggesting nearly 10% of additional upside for stocks.</p><p><blockquote><b>2022年目标：</b>对投资者来说，好消息是麦克米兰预计该股将有更多上涨空间<b>SPDR标普500 ETF信托</b>2022年。Commonwealth Financial Network将标普500 2022年底目标价定为5,000点，表明该股还有近10%的额外上涨空间。</blockquote></p><p> McMillan is also projecting 7.5% nominal economic growth and 3.5% real economic growth in 2022 and has a year-end U.S. Treasury 10-year yield target of 2.5%.</p><p><blockquote>麦克米兰还预计2022年名义经济增长7.5%，实际经济增长3.5%，年底美国10年期国债收益率目标为2.5%。</blockquote></p><p> McMillan said new market highs in 2022 will be driven by different factors than the ones that drove the S&amp;P 500’s recovery from its March 2020 lows.</p><p><blockquote>麦克米兰表示，2022年市场新高的推动因素与推动标普500从2020年3月低点复苏的因素不同。</blockquote></p><p> Market gains in 2020 and 2021 were driven in large part by pandemic-related news, economic reopenings, fiscal stimulus and monetary policy. In 2022, McMillan said policies will continue to normalize and attention will shift back from the pandemic to earnings numbers.</p><p><blockquote>2020年和2021年的市场上涨在很大程度上是由大流行相关新闻、经济重新开放、财政刺激和货币政策推动的。麦克米兰表示，2022年，政策将继续正常化，注意力将从疫情转移回盈利数据。</blockquote></p><p> <b>Factors To Watch:</b>Analysts are calling for 7.6% S&amp;P 500 earnings growth in 2022, a number McMillan said is reasonably in-line with his expectations for economic growth and stock market upside. But persistently high inflation and rising interest rates could create risk to stock market valuations next year, even if the S&amp;P 500 hits its earnings growth target.</p><p><blockquote><b>值得关注的因素：</b>分析师预计标普500 2022年盈利增长7.6%，麦克米兰表示，这一数字相当符合他对经济增长和股市上涨的预期。但持续的高通胀和不断上升的利率可能会给明年的股市估值带来风险，即使这家标普500达到了盈利增长目标。</blockquote></p><p> “We will move back into a normal, understandable environment, and markets will respond to those factors in normal ways,” McMillan said.</p><p><blockquote>麦克米兰表示：“我们将回到一个正常的、可以理解的环境，市场将以正常的方式对这些因素做出反应。”</blockquote></p><p> “After an exceptional time, markets will be able to operate off a stable base —which will help across the board. This is the goal we have been chasing since the pandemic started, and 2022 should be the year we get there.”</p><p><blockquote>“经过一段特殊时期后，市场将能够在稳定的基础上运行——这将对全面有帮助。这是我们自大流行开始以来一直追求的目标，2022年应该是我们实现这一目标的一年。”</blockquote></p><p> <b>Benzinga’s Take:</b>A 10% annual gain for the S&amp;P 500 in 2022 wouldn’t be particularly impressive from a historical standpoint. However, considering the S&amp;P 500 is on track to make 2021 its third consecutive year of at least 16% gains, another year of double-digit returns in 2022 would continue a strong multiyear stretch for stocks.</p><p><blockquote><b>Benzinga的看法：</b>从历史角度来看，2022年标普500 10%的年增长率并不是特别令人印象深刻。然而，考虑到标普500有望使2021年连续第三年上涨至少16%，2022年又一个两位数回报的年份将继续股市多年的强劲表现。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Analyst Predicts 'New Normal' For Stock Market In 2022<blockquote>分析师预测2022年股市将出现“新常态”</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAnalyst Predicts 'New Normal' For Stock Market In 2022<blockquote>分析师预测2022年股市将出现“新常态”</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time smaller\">2021-12-21 08:04</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p><b>Brad McMillan</b>, chief investment officer for Commonwealth Financial Network, recently released his 2022 Market and Economic Outlook report.</p><p><blockquote><b>布拉德·麦克米伦</b>英联邦金融网络首席投资官最近发布了2022年市场和经济展望报告。</blockquote></p><p> One of the main themes of this year’s report: the return to normal for the market and the economy in 2022 that McMillan is expecting, and what it will look like.</p><p><blockquote>今年报告的主题之一是：麦克米兰预计的2022年市场和经济将恢复正常，以及它会是什么样子。</blockquote></p><p> <b>2022 Targets:</b>The good news for investors is that McMillan is anticipating more upside for the&nbsp;<b>SPDR S&amp;P 500 ETF Trust</b>&nbsp;in 2022. Commonwealth Financial Network has a year-end 2022 S&amp;P 500 price target of 5,000, suggesting nearly 10% of additional upside for stocks.</p><p><blockquote><b>2022年目标：</b>对投资者来说，好消息是麦克米兰预计该股将有更多上涨空间<b>SPDR标普500 ETF信托</b>2022年。Commonwealth Financial Network将标普500 2022年底目标价定为5,000点，表明该股还有近10%的额外上涨空间。</blockquote></p><p> McMillan is also projecting 7.5% nominal economic growth and 3.5% real economic growth in 2022 and has a year-end U.S. Treasury 10-year yield target of 2.5%.</p><p><blockquote>麦克米兰还预计2022年名义经济增长7.5%，实际经济增长3.5%，年底美国10年期国债收益率目标为2.5%。</blockquote></p><p> McMillan said new market highs in 2022 will be driven by different factors than the ones that drove the S&amp;P 500’s recovery from its March 2020 lows.</p><p><blockquote>麦克米兰表示，2022年市场新高的推动因素与推动标普500从2020年3月低点复苏的因素不同。</blockquote></p><p> Market gains in 2020 and 2021 were driven in large part by pandemic-related news, economic reopenings, fiscal stimulus and monetary policy. In 2022, McMillan said policies will continue to normalize and attention will shift back from the pandemic to earnings numbers.</p><p><blockquote>2020年和2021年的市场上涨在很大程度上是由大流行相关新闻、经济重新开放、财政刺激和货币政策推动的。麦克米兰表示，2022年，政策将继续正常化，注意力将从疫情转移回盈利数据。</blockquote></p><p> <b>Factors To Watch:</b>Analysts are calling for 7.6% S&amp;P 500 earnings growth in 2022, a number McMillan said is reasonably in-line with his expectations for economic growth and stock market upside. But persistently high inflation and rising interest rates could create risk to stock market valuations next year, even if the S&amp;P 500 hits its earnings growth target.</p><p><blockquote><b>值得关注的因素：</b>分析师预计标普500 2022年盈利增长7.6%，麦克米兰表示，这一数字相当符合他对经济增长和股市上涨的预期。但持续的高通胀和不断上升的利率可能会给明年的股市估值带来风险，即使这家标普500达到了盈利增长目标。</blockquote></p><p> “We will move back into a normal, understandable environment, and markets will respond to those factors in normal ways,” McMillan said.</p><p><blockquote>麦克米兰表示：“我们将回到一个正常的、可以理解的环境，市场将以正常的方式对这些因素做出反应。”</blockquote></p><p> “After an exceptional time, markets will be able to operate off a stable base —which will help across the board. This is the goal we have been chasing since the pandemic started, and 2022 should be the year we get there.”</p><p><blockquote>“经过一段特殊时期后，市场将能够在稳定的基础上运行——这将对全面有帮助。这是我们自大流行开始以来一直追求的目标，2022年应该是我们实现这一目标的一年。”</blockquote></p><p> <b>Benzinga’s Take:</b>A 10% annual gain for the S&amp;P 500 in 2022 wouldn’t be particularly impressive from a historical standpoint. However, considering the S&amp;P 500 is on track to make 2021 its third consecutive year of at least 16% gains, another year of double-digit returns in 2022 would continue a strong multiyear stretch for stocks.</p><p><blockquote><b>Benzinga的看法：</b>从历史角度来看，2022年标普500 10%的年增长率并不是特别令人印象深刻。然而，考虑到标普500有望使2021年连续第三年上涨至少16%，2022年又一个两位数回报的年份将继续股市多年的强劲表现。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1124657950","content_text":"Brad McMillan, chief investment officer for Commonwealth Financial Network, recently released his 2022 Market and Economic Outlook report.\nOne of the main themes of this year’s report: the return to normal for the market and the economy in 2022 that McMillan is expecting, and what it will look like.\n2022 Targets:The good news for investors is that McMillan is anticipating more upside for the SPDR S&P 500 ETF Trust in 2022. Commonwealth Financial Network has a year-end 2022 S&P 500 price target of 5,000, suggesting nearly 10% of additional upside for stocks.\nMcMillan is also projecting 7.5% nominal economic growth and 3.5% real economic growth in 2022 and has a year-end U.S. Treasury 10-year yield target of 2.5%.\nMcMillan said new market highs in 2022 will be driven by different factors than the ones that drove the S&P 500’s recovery from its March 2020 lows.\nMarket gains in 2020 and 2021 were driven in large part by pandemic-related news, economic reopenings, fiscal stimulus and monetary policy. In 2022, McMillan said policies will continue to normalize and attention will shift back from the pandemic to earnings numbers.\nFactors To Watch:Analysts are calling for 7.6% S&P 500 earnings growth in 2022, a number McMillan said is reasonably in-line with his expectations for economic growth and stock market upside. But persistently high inflation and rising interest rates could create risk to stock market valuations next year, even if the S&P 500 hits its earnings growth target.\n“We will move back into a normal, understandable environment, and markets will respond to those factors in normal ways,” McMillan said.\n“After an exceptional time, markets will be able to operate off a stable base —which will help across the board. This is the goal we have been chasing since the pandemic started, and 2022 should be the year we get there.”\nBenzinga’s Take:A 10% annual gain for the S&P 500 in 2022 wouldn’t be particularly impressive from a historical standpoint. However, considering the S&P 500 is on track to make 2021 its third consecutive year of at least 16% gains, another year of double-digit returns in 2022 would continue a strong multiyear stretch for stocks.","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":2279,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":604200486,"gmtCreate":1639396434859,"gmtModify":1639396435065,"author":{"id":"4091101047149840","authorId":"4091101047149840","name":"Power1","avatar":"https://static.tigerbbs.com/e4a46b190be5bdc3ed9183051f9036c1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4091101047149840","idStr":"4091101047149840"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/RW0U.SI\">$MAPLETREE NORTH ASIA COMM TR(RW0U.SI)$</a>I’ve faith in you! Add oil and go to the moon 🌕🌍🌙💫","listText":"<a href=\"https://laohu8.com/S/RW0U.SI\">$MAPLETREE NORTH ASIA COMM TR(RW0U.SI)$</a>I’ve faith in you! Add oil and go to the moon 🌕🌍🌙💫","text":"$MAPLETREE NORTH ASIA COMM TR(RW0U.SI)$I’ve faith in you! Add oil and go to the moon 🌕🌍🌙💫","images":[{"img":"https://static.tigerbbs.com/27d7d7eab196bf1f9c860b8d7d48de9d","width":"828","height":"1632"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/604200486","isVote":1,"tweetType":1,"viewCount":3584,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3566385558470298","authorId":"3566385558470298","name":"Venus_M","avatar":"https://static.tigerbbs.com/525433622d774840840ddaacaf2281d2","crmLevel":11,"crmLevelSwitch":0,"authorIdStr":"3566385558470298","idStr":"3566385558470298"},"content":"加油↖(^ω^)↗","text":"加油↖(^ω^)↗","html":"加油↖(^ω^)↗"}],"imageCount":1,"langContent":"CN","totalScore":0},{"id":605850073,"gmtCreate":1639147166373,"gmtModify":1639147166503,"author":{"id":"4091101047149840","authorId":"4091101047149840","name":"Power1","avatar":"https://static.tigerbbs.com/e4a46b190be5bdc3ed9183051f9036c1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4091101047149840","idStr":"4091101047149840"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/N2IU.SI\">$MAPLETREE COMMERCIAL TRUST(N2IU.SI)$</a>Go go go!","listText":"<a href=\"https://laohu8.com/S/N2IU.SI\">$MAPLETREE COMMERCIAL TRUST(N2IU.SI)$</a>Go go go!","text":"$MAPLETREE COMMERCIAL TRUST(N2IU.SI)$Go go go!","images":[{"img":"https://static.tigerbbs.com/556244d9a46ccfea91d170cd7025ac1e","width":"750","height":"1687"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/605850073","isVote":1,"tweetType":1,"viewCount":3349,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":858446523,"gmtCreate":1635118849378,"gmtModify":1635118849552,"author":{"id":"4091101047149840","authorId":"4091101047149840","name":"Power1","avatar":"https://static.tigerbbs.com/e4a46b190be5bdc3ed9183051f9036c1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4091101047149840","idStr":"4091101047149840"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/C38U.SI\">$CapLand IntCom T(C38U.SI)$</a>With reports of more than double NPI of $242.6 million for 3QFY, IThink today the price is gonna go up! Positive news!","listText":"<a href=\"https://laohu8.com/S/C38U.SI\">$CapLand IntCom T(C38U.SI)$</a>With reports of more than double NPI of $242.6 million for 3QFY, IThink today the price is gonna go up! Positive news!","text":"$CapLand IntCom T(C38U.SI)$With reports of more than double NPI of $242.6 million for 3QFY, IThink today the price is gonna go up! Positive news!","images":[{"img":"https://static.tigerbbs.com/ba1fb688c61e57e4216360a471f551c5","width":"828","height":"1632"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/858446523","isVote":1,"tweetType":1,"viewCount":2239,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":850457796,"gmtCreate":1634620003109,"gmtModify":1634620003273,"author":{"id":"4091101047149840","authorId":"4091101047149840","name":"Power1","avatar":"https://static.tigerbbs.com/e4a46b190be5bdc3ed9183051f9036c1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4091101047149840","idStr":"4091101047149840"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/M44U.SI\">$MAPLETREE LOGISTICS TRUST(M44U.SI)$</a>I believe when reopening comes, logistics will do well! All the best to M44U.SI! Waiting for dividends too!","listText":"<a href=\"https://laohu8.com/S/M44U.SI\">$MAPLETREE LOGISTICS TRUST(M44U.SI)$</a>I believe when reopening comes, logistics will do well! All the best to M44U.SI! Waiting for dividends too!","text":"$MAPLETREE LOGISTICS TRUST(M44U.SI)$I believe when reopening comes, logistics will do well! All the best to M44U.SI! Waiting for dividends too!","images":[{"img":"https://static.tigerbbs.com/d1d98599b04f0a4f1749909a6a422d1d","width":"828","height":"1632"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/850457796","isVote":1,"tweetType":1,"viewCount":3869,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":823704584,"gmtCreate":1633658653376,"gmtModify":1633658658439,"author":{"id":"4091101047149840","authorId":"4091101047149840","name":"Power1","avatar":"https://static.tigerbbs.com/e4a46b190be5bdc3ed9183051f9036c1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4091101047149840","idStr":"4091101047149840"},"themes":[],"htmlText":"So sad, CICT is the top decliner. I thought I can sell today . Looks like gotta hold til finanacial statement is out","listText":"So sad, CICT is the top decliner. I thought I can sell today . Looks like gotta hold til finanacial statement is out","text":"So sad, CICT is the top decliner. I thought I can sell today . Looks like gotta hold til finanacial statement is out","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/823704584","repostId":"1189726057","repostType":4,"isVote":1,"tweetType":1,"viewCount":2746,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":823705515,"gmtCreate":1633658585652,"gmtModify":1633658585837,"author":{"id":"4091101047149840","authorId":"4091101047149840","name":"Power1","avatar":"https://static.tigerbbs.com/e4a46b190be5bdc3ed9183051f9036c1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4091101047149840","idStr":"4091101047149840"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/823705515","repostId":"1163018074","repostType":4,"isVote":1,"tweetType":1,"viewCount":3097,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":829152636,"gmtCreate":1633482475842,"gmtModify":1633482549858,"author":{"id":"4091101047149840","authorId":"4091101047149840","name":"Power1","avatar":"https://static.tigerbbs.com/e4a46b190be5bdc3ed9183051f9036c1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4091101047149840","idStr":"4091101047149840"},"themes":[],"htmlText":"Hurray! It’s alive again!","listText":"Hurray! It’s alive again!","text":"Hurray! It’s alive again!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/829152636","repostId":"1101968131","repostType":4,"isVote":1,"tweetType":1,"viewCount":3019,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":864540643,"gmtCreate":1633134402017,"gmtModify":1633134402276,"author":{"id":"4091101047149840","authorId":"4091101047149840","name":"Power1","avatar":"https://static.tigerbbs.com/e4a46b190be5bdc3ed9183051f9036c1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4091101047149840","idStr":"4091101047149840"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/N2IU.SI\">$MAPLETREE COMMERCIAL TRUST(N2IU.SI)$</a>Only stock on hand&nbsp;making small profits when stock price went down yesterday. Waiting to collect dividends in November ….&nbsp;","listText":"<a href=\"https://laohu8.com/S/N2IU.SI\">$MAPLETREE COMMERCIAL TRUST(N2IU.SI)$</a>Only stock on hand&nbsp;making small profits when stock price went down yesterday. Waiting to collect dividends in November ….&nbsp;","text":"$MAPLETREE COMMERCIAL TRUST(N2IU.SI)$Only stock on hand making small profits when stock price went down yesterday. Waiting to collect dividends in November ….","images":[{"img":"https://static.tigerbbs.com/49adee70c3a1866768eed4035411070c","width":"828","height":"1632"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/864540643","isVote":1,"tweetType":1,"viewCount":3912,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":862666737,"gmtCreate":1632876247895,"gmtModify":1632876247971,"author":{"id":"4091101047149840","authorId":"4091101047149840","name":"Power1","avatar":"https://static.tigerbbs.com/e4a46b190be5bdc3ed9183051f9036c1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4091101047149840","idStr":"4091101047149840"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/C38U.SI\">$CapLand IntCom T(C38U.SI)$</a>Waiting for year end for it to go up to $2.35 or will it not?","listText":"<a href=\"https://laohu8.com/S/C38U.SI\">$CapLand IntCom T(C38U.SI)$</a>Waiting for year end for it to go up to $2.35 or will it not?","text":"$CapLand IntCom T(C38U.SI)$Waiting for year end for it to go up to $2.35 or will it not?","images":[{"img":"https://static.tigerbbs.com/1112225829cd34b56a0d57a7e85a3687","width":"828","height":"1632"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/862666737","isVote":1,"tweetType":1,"viewCount":2337,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":868814309,"gmtCreate":1632628471901,"gmtModify":1632649517243,"author":{"id":"4091101047149840","authorId":"4091101047149840","name":"Power1","avatar":"https://static.tigerbbs.com/e4a46b190be5bdc3ed9183051f9036c1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4091101047149840","idStr":"4091101047149840"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/O39.SI\">$OVERSEA-CHINESE BANKING CORP(O39.SI)$</a>good time to buy now! When 2022 comes that’s when you will laugh your way to the bank [Grin]&nbsp;","listText":"<a href=\"https://laohu8.com/S/O39.SI\">$OVERSEA-CHINESE BANKING CORP(O39.SI)$</a>good time to buy now! When 2022 comes that’s when you will laugh your way to the bank [Grin]&nbsp;","text":"$OVERSEA-CHINESE BANKING CORP(O39.SI)$good time to buy now! When 2022 comes that’s when you will laugh your way to the bank [Grin]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/868814309","isVote":1,"tweetType":1,"viewCount":685,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":860992555,"gmtCreate":1632116112277,"gmtModify":1632802726861,"author":{"id":"4091101047149840","authorId":"4091101047149840","name":"Power1","avatar":"https://static.tigerbbs.com/e4a46b190be5bdc3ed9183051f9036c1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4091101047149840","idStr":"4091101047149840"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/ME8U.SI\">$MAPLETREE INDUSTRIAL TRUST(ME8U.SI)$</a>I have full confidence in this stock. Strong backing by Temasek and data is the in&nbsp;thing now!","listText":"<a href=\"https://laohu8.com/S/ME8U.SI\">$MAPLETREE INDUSTRIAL TRUST(ME8U.SI)$</a>I have full confidence in this stock. Strong backing by Temasek and data is the in&nbsp;thing now!","text":"$MAPLETREE INDUSTRIAL TRUST(ME8U.SI)$I have full confidence in this stock. Strong backing by Temasek and data is the in thing now!","images":[{"img":"https://static.tigerbbs.com/7f482caeb22a581f833a1c3f23883ca0","width":"828","height":"1434"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/860992555","isVote":1,"tweetType":1,"viewCount":301,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":887928399,"gmtCreate":1631961004111,"gmtModify":1632805070663,"author":{"id":"4091101047149840","authorId":"4091101047149840","name":"Power1","avatar":"https://static.tigerbbs.com/e4a46b190be5bdc3ed9183051f9036c1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4091101047149840","idStr":"4091101047149840"},"themes":[],"htmlText":"Waiting for reopening for it to hit $14?","listText":"Waiting for reopening for it to hit $14?","text":"Waiting for reopening for it to hit $14?","images":[{"img":"https://static.tigerbbs.com/08dad7b66c214b7c80f8b0d52b8b6528","width":"750","height":"1460"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/887928399","isVote":1,"tweetType":1,"viewCount":490,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":887921505,"gmtCreate":1631960955907,"gmtModify":1632805070907,"author":{"id":"4091101047149840","authorId":"4091101047149840","name":"Power1","avatar":"https://static.tigerbbs.com/e4a46b190be5bdc3ed9183051f9036c1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4091101047149840","idStr":"4091101047149840"},"themes":[],"htmlText":"There’s hope! It’s up again!","listText":"There’s hope! It’s up again!","text":"There’s hope! It’s up again!","images":[{"img":"https://static.tigerbbs.com/997bf33094f03d5b776b95bfeef44625","width":"750","height":"1460"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/887921505","isVote":1,"tweetType":1,"viewCount":457,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":887923340,"gmtCreate":1631960665280,"gmtModify":1632805072250,"author":{"id":"4091101047149840","authorId":"4091101047149840","name":"Power1","avatar":"https://static.tigerbbs.com/e4a46b190be5bdc3ed9183051f9036c1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4091101047149840","idStr":"4091101047149840"},"themes":[],"htmlText":"Hopefully China shares can go up soon!","listText":"Hopefully China shares can go up soon!","text":"Hopefully China shares can go up soon!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/887923340","isVote":1,"tweetType":3,"object":{"tweetId":"887923340","title":"中国股市的下一个大机会","poster":"https://mmbiz.qpic.cn/mmbiz_png/d5bKpC8icfvkT6IVWAs4XLuoAH9nIEpyIGnekzBTC91ibOVtEfalPNB6y6H7bkZPUVHu1ONY2Qah2K76w3lsudMQ/640?wx_fmt=png","shareLink":"https://mp.weixin.qq.com/s/-2Dkl0ke7-3pgmYt65S-2A"},"viewCount":346,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":887923025,"gmtCreate":1631960607067,"gmtModify":1632805072496,"author":{"id":"4091101047149840","authorId":"4091101047149840","name":"Power1","avatar":"https://static.tigerbbs.com/e4a46b190be5bdc3ed9183051f9036c1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4091101047149840","idStr":"4091101047149840"},"themes":[],"htmlText":"https://mp.weixin.qq.com/s/-2Dkl0ke7-3pgmYt65S-2A","listText":"https://mp.weixin.qq.com/s/-2Dkl0ke7-3pgmYt65S-2A","text":"https://mp.weixin.qq.com/s/-2Dkl0ke7-3pgmYt65S-2A","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/887923025","isVote":1,"tweetType":1,"viewCount":718,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":888172024,"gmtCreate":1631469076368,"gmtModify":1631892582319,"author":{"id":"4091101047149840","authorId":"4091101047149840","name":"Power1","avatar":"https://static.tigerbbs.com/e4a46b190be5bdc3ed9183051f9036c1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4091101047149840","idStr":"4091101047149840"},"themes":[],"htmlText":"Aiyo I m waiting to let go. Don’t know when is the best time","listText":"Aiyo I m waiting to let go. Don’t know when is the best time","text":"Aiyo I m waiting to let go. Don’t know when is the best time","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/888172024","repostId":"2166537600","repostType":4,"repost":{"id":"2166537600","kind":"highlight","pubTimestamp":1631318207,"share":"https://www.laohu8.com/m/news/2166537600?lang=zh_CN&edition=full","pubTime":"2021-09-11 07:56","market":"us","language":"en","title":"Risk of 'hard' stock-market valuation correction is growing, says Deutsche Bank -- here's why<blockquote>德意志银行表示，股市估值“硬”调整的风险正在增加——原因如下</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2166537600","media":"MarketWatch","summary":"High multiples reflect 'market confusion over where we are in the earnings cycle': Chadha\nLost in th","content":"<p>High multiples reflect 'market confusion over where we are in the earnings cycle': Chadha</p><p><blockquote>查达：高市盈率反映了“市场对我们在盈利周期中所处位置的困惑”</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9e4dd275ed18f5023ec5874e9d6d56ce\" tg-width=\"700\" tg-height=\"470\" referrerpolicy=\"no-referrer\"><span>Lost in the earnings cycle?</span></p><p><blockquote><p class=\"t-img-caption\"><span>迷失在盈利周期中？</span></p></blockquote></p><p> Stock-market valuations are \"historically extreme\" by almost every measure. And while valuation corrections don't necessarily result in market pullbacks, the risk of a \"hard\" correction is growing, warned a top Wall Street strategist.</p><p><blockquote>从几乎所有指标来看，股市估值都处于“历史极端”状态。华尔街一位顶级策略师警告称，虽然估值调整不一定会导致市场回调，但“硬”调整的风险正在增加。</blockquote></p><p> \"With the current cycle advancing very quickly, the risk that the correction is hard is growing,\" wrote Binky Chadha, chief strategist at Deutsche Bank, in a Thursday note.</p><p><blockquote>德意志银行首席策略师Binky Chadha在周四的一份报告中写道：“随着当前周期的快速推进，难以调整的风险正在增加。”</blockquote></p><p> The warning comes as Wall Street firms have expressed nervousness as equities continue to rally, pushing major indexes to all-time highs, without any significant pullbacks. Including Friday, the S&amp;P 500 has gone 214 trading days without a 5% pullback, rising more than 33% over that stretch. That's the longest run without a pullback since a 404-day run that ended on Feb. 2, ,2018, according to Dow Jones Market Data.</p><p><blockquote>这一警告发出之际，华尔街公司对股市继续上涨表示紧张，将主要股指推至历史新高，但没有出现任何重大回调。包括周五在内，标普500已经有214个交易日没有出现5%的回调，在此期间上涨了33%以上。根据道琼斯市场数据，这是自2018年2月2日结束的404天运行以来最长的没有回调的运行。</blockquote></p><p> Major indexes were on track to lose ground for the week Friday, with the S&amp;P 500 and Dow Jones Industrial Average threatening to extend a losing streak to five sessions. The S&amp;P 500 is down just 1% from a record close hit on Sept. 3 and has more than doubled from its March 2020 pandemic low.</p><p><blockquote>周五，主要股指本周有望下跌，标普500和道琼斯工业平均指数有可能将连跌扩大至五个交易日。标普500较9月3日创纪录的收盘价仅下跌1%，较2020年3月大流行低点上涨了一倍多。</blockquote></p><p> Chadha noted that while equities are \"very expensive,\" that fact alone doesn't require a large market correction. That's because valuations can fall if rising stock prices are outpaced by earnings growth, shrinking the price-to-earnings ratio even as share prices rise.</p><p><blockquote>查达指出，虽然股票“非常昂贵”，但仅凭这一事实并不需要市场大幅调整。这是因为，如果股价上涨速度超过盈利增长速度，估值可能会下降，即使股价上涨，市盈率也会缩小。</blockquote></p><p> Those types of soft valuation corrections are typically seen early in a recovery when earnings growth is rapid, he said. During this recovery, however, the \"compression\" in earnings multiples has been slow and uneven, Chadha observed.</p><p><blockquote>他表示，这些类型的软估值调整通常出现在盈利快速增长的复苏早期。然而，查达观察到，在这次复苏期间，市盈率的“压缩”缓慢且不均衡。</blockquote></p><p> Using trailing 12-month earnings, the price-to-earnings, or P/E, ratio for the S&amp;P 500 moved from a low of 14 at the depths of the pandemic 27 at the start of 2021. It has subsequently compressed to 23.1, a decline of 14%, as earnings outpaced the rise in prices, but remains 15% above its historical range of 10 to 20, he noted.</p><p><blockquote>根据过去12个月的收益，标普500的市盈率从疫情最严重时的低点14升至2021年初的27。他指出，由于盈利超过了价格上涨，该指数随后压缩至23.1，下降了14%，但仍比10至20的历史区间高出15%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ee77cba9751ddd0cb4c42c1d02ed436d\" tg-width=\"700\" tg-height=\"531\" referrerpolicy=\"no-referrer\"><span>Deutsche Bank</span></p><p><blockquote><p class=\"t-img-caption\"><span>德意志银行</span></p></blockquote></p><p> Multiples based on forward earnings estimates have been going sideways at an elevated level. Other ratios, such as enterprise value, or EV, relative to EBIT (earnings before interest and taxes) and EV/EBITDA (earnings before interest, taxes, depreciation and amortization) are down modestly from record highs but remain above their tech bubble peaks, Chadha said, while cash-flow based valuations have continued to rise.</p><p><blockquote>基于前瞻性盈利预测的市盈率一直在高位横盘整理。查达表示，其他比率，例如企业价值（EV）相对于EBIT（息税折旧及摊销前利润）和EV/EBITDA（息税折旧及摊销前利润）较历史高点小幅下降，但仍高于科技泡沫峰值，而基于现金流的估值持续上升。</blockquote></p><p> Chadha said a \"surprisingly rapid rebound\" in earnings is the most likely explanation for the extreme valuations, noting that S&amp;P 500 earnings have topped the bottom-up analyst consensus estimate by an unprecedented 15 to 20 percentage points for five consecutive quarters. But that dynamic appears set to end, he said, noting the analyst consensus appears to have caught up, while the pace of earnings beats and upgrades, a key driver of equity upside, is set to slow.</p><p><blockquote>Chadha表示，盈利“令人惊讶的快速反弹”是极端估值最有可能的解释，并指出标普500的盈利已经连续五个季度前所未有地超过了自下而上的分析师普遍预期15至20个百分点。但他表示，这种动态似乎即将结束，并指出分析师的共识似乎已经赶上，而作为股市上涨关键驱动力的盈利超出预期和升级步伐将放缓。</blockquote></p><p> \"At a fundamental level, we believe the key reason multiples are high is market confusion over where we are in the earnings cycle, in part reflecting the speed and surprise with which the economic recovery has unfolded and the large persistent beats this generated,\" he wrote.</p><p><blockquote>“从基本面来看，我们认为市盈率较高的关键原因是市场对我们在盈利周期中所处位置的困惑，这在一定程度上反映了经济复苏的速度和惊喜以及由此产生的持续大幅上涨，”他写道。</blockquote></p><p> And since gross domestic product is still well below trend, there is a popular view that the best of the recovery has yet to come, Chadha said. The problem is that the parts of the economy that S&amp;P 500 companies are most exposed to are already significantly above trend, he said, with 2/3 of S&amp;P 500 industry groups showing activity levels that are one standard deviation or more above trend (see chart below).</p><p><blockquote>查达表示，由于国内生产总值仍远低于趋势水平，人们普遍认为复苏的最佳时期尚未到来。他表示，问题在于，标普500公司最受影响的经济领域已经明显高于趋势，2/3的标普500行业集团的活动水平比趋势高出一个标准差或更多（见下图）。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ff72fc4d219104d5d04ba1768dce6f5a\" tg-width=\"700\" tg-height=\"486\" referrerpolicy=\"no-referrer\"><span>Deutsche Bank</span></p><p><blockquote><p class=\"t-img-caption\"><span>德意志银行</span></p></blockquote></p><p> \" So the cycle is much more advanced and the risk is that activity begins to slow, while the market is priced for most of the recovery as yet to come and large beats to continue,\" he said.</p><p><blockquote>他表示：“因此，周期要先进得多，风险在于经济活动开始放缓，而市场对尚未到来的大部分复苏以及持续的大幅上涨进行了定价。”</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Risk of 'hard' stock-market valuation correction is growing, says Deutsche Bank -- here's why<blockquote>德意志银行表示，股市估值“硬”调整的风险正在增加——原因如下</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nRisk of 'hard' stock-market valuation correction is growing, says Deutsche Bank -- here's why<blockquote>德意志银行表示，股市估值“硬”调整的风险正在增加——原因如下</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-09-11 07:56</span>\n</p>\n</h4>\n</header>\n<article>\n<p>High multiples reflect 'market confusion over where we are in the earnings cycle': Chadha</p><p><blockquote>查达：高市盈率反映了“市场对我们在盈利周期中所处位置的困惑”</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9e4dd275ed18f5023ec5874e9d6d56ce\" tg-width=\"700\" tg-height=\"470\" referrerpolicy=\"no-referrer\"><span>Lost in the earnings cycle?</span></p><p><blockquote><p class=\"t-img-caption\"><span>迷失在盈利周期中？</span></p></blockquote></p><p> Stock-market valuations are \"historically extreme\" by almost every measure. And while valuation corrections don't necessarily result in market pullbacks, the risk of a \"hard\" correction is growing, warned a top Wall Street strategist.</p><p><blockquote>从几乎所有指标来看，股市估值都处于“历史极端”状态。华尔街一位顶级策略师警告称，虽然估值调整不一定会导致市场回调，但“硬”调整的风险正在增加。</blockquote></p><p> \"With the current cycle advancing very quickly, the risk that the correction is hard is growing,\" wrote Binky Chadha, chief strategist at Deutsche Bank, in a Thursday note.</p><p><blockquote>德意志银行首席策略师Binky Chadha在周四的一份报告中写道：“随着当前周期的快速推进，难以调整的风险正在增加。”</blockquote></p><p> The warning comes as Wall Street firms have expressed nervousness as equities continue to rally, pushing major indexes to all-time highs, without any significant pullbacks. Including Friday, the S&amp;P 500 has gone 214 trading days without a 5% pullback, rising more than 33% over that stretch. That's the longest run without a pullback since a 404-day run that ended on Feb. 2, ,2018, according to Dow Jones Market Data.</p><p><blockquote>这一警告发出之际，华尔街公司对股市继续上涨表示紧张，将主要股指推至历史新高，但没有出现任何重大回调。包括周五在内，标普500已经有214个交易日没有出现5%的回调，在此期间上涨了33%以上。根据道琼斯市场数据，这是自2018年2月2日结束的404天运行以来最长的没有回调的运行。</blockquote></p><p> Major indexes were on track to lose ground for the week Friday, with the S&amp;P 500 and Dow Jones Industrial Average threatening to extend a losing streak to five sessions. The S&amp;P 500 is down just 1% from a record close hit on Sept. 3 and has more than doubled from its March 2020 pandemic low.</p><p><blockquote>周五，主要股指本周有望下跌，标普500和道琼斯工业平均指数有可能将连跌扩大至五个交易日。标普500较9月3日创纪录的收盘价仅下跌1%，较2020年3月大流行低点上涨了一倍多。</blockquote></p><p> Chadha noted that while equities are \"very expensive,\" that fact alone doesn't require a large market correction. That's because valuations can fall if rising stock prices are outpaced by earnings growth, shrinking the price-to-earnings ratio even as share prices rise.</p><p><blockquote>查达指出，虽然股票“非常昂贵”，但仅凭这一事实并不需要市场大幅调整。这是因为，如果股价上涨速度超过盈利增长速度，估值可能会下降，即使股价上涨，市盈率也会缩小。</blockquote></p><p> Those types of soft valuation corrections are typically seen early in a recovery when earnings growth is rapid, he said. During this recovery, however, the \"compression\" in earnings multiples has been slow and uneven, Chadha observed.</p><p><blockquote>他表示，这些类型的软估值调整通常出现在盈利快速增长的复苏早期。然而，查达观察到，在这次复苏期间，市盈率的“压缩”缓慢且不均衡。</blockquote></p><p> Using trailing 12-month earnings, the price-to-earnings, or P/E, ratio for the S&amp;P 500 moved from a low of 14 at the depths of the pandemic 27 at the start of 2021. It has subsequently compressed to 23.1, a decline of 14%, as earnings outpaced the rise in prices, but remains 15% above its historical range of 10 to 20, he noted.</p><p><blockquote>根据过去12个月的收益，标普500的市盈率从疫情最严重时的低点14升至2021年初的27。他指出，由于盈利超过了价格上涨，该指数随后压缩至23.1，下降了14%，但仍比10至20的历史区间高出15%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ee77cba9751ddd0cb4c42c1d02ed436d\" tg-width=\"700\" tg-height=\"531\" referrerpolicy=\"no-referrer\"><span>Deutsche Bank</span></p><p><blockquote><p class=\"t-img-caption\"><span>德意志银行</span></p></blockquote></p><p> Multiples based on forward earnings estimates have been going sideways at an elevated level. Other ratios, such as enterprise value, or EV, relative to EBIT (earnings before interest and taxes) and EV/EBITDA (earnings before interest, taxes, depreciation and amortization) are down modestly from record highs but remain above their tech bubble peaks, Chadha said, while cash-flow based valuations have continued to rise.</p><p><blockquote>基于前瞻性盈利预测的市盈率一直在高位横盘整理。查达表示，其他比率，例如企业价值（EV）相对于EBIT（息税折旧及摊销前利润）和EV/EBITDA（息税折旧及摊销前利润）较历史高点小幅下降，但仍高于科技泡沫峰值，而基于现金流的估值持续上升。</blockquote></p><p> Chadha said a \"surprisingly rapid rebound\" in earnings is the most likely explanation for the extreme valuations, noting that S&amp;P 500 earnings have topped the bottom-up analyst consensus estimate by an unprecedented 15 to 20 percentage points for five consecutive quarters. But that dynamic appears set to end, he said, noting the analyst consensus appears to have caught up, while the pace of earnings beats and upgrades, a key driver of equity upside, is set to slow.</p><p><blockquote>Chadha表示，盈利“令人惊讶的快速反弹”是极端估值最有可能的解释，并指出标普500的盈利已经连续五个季度前所未有地超过了自下而上的分析师普遍预期15至20个百分点。但他表示，这种动态似乎即将结束，并指出分析师的共识似乎已经赶上，而作为股市上涨关键驱动力的盈利超出预期和升级步伐将放缓。</blockquote></p><p> \"At a fundamental level, we believe the key reason multiples are high is market confusion over where we are in the earnings cycle, in part reflecting the speed and surprise with which the economic recovery has unfolded and the large persistent beats this generated,\" he wrote.</p><p><blockquote>“从基本面来看，我们认为市盈率较高的关键原因是市场对我们在盈利周期中所处位置的困惑，这在一定程度上反映了经济复苏的速度和惊喜以及由此产生的持续大幅上涨，”他写道。</blockquote></p><p> And since gross domestic product is still well below trend, there is a popular view that the best of the recovery has yet to come, Chadha said. The problem is that the parts of the economy that S&amp;P 500 companies are most exposed to are already significantly above trend, he said, with 2/3 of S&amp;P 500 industry groups showing activity levels that are one standard deviation or more above trend (see chart below).</p><p><blockquote>查达表示，由于国内生产总值仍远低于趋势水平，人们普遍认为复苏的最佳时期尚未到来。他表示，问题在于，标普500公司最受影响的经济领域已经明显高于趋势，2/3的标普500行业集团的活动水平比趋势高出一个标准差或更多（见下图）。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ff72fc4d219104d5d04ba1768dce6f5a\" tg-width=\"700\" tg-height=\"486\" referrerpolicy=\"no-referrer\"><span>Deutsche Bank</span></p><p><blockquote><p class=\"t-img-caption\"><span>德意志银行</span></p></blockquote></p><p> \" So the cycle is much more advanced and the risk is that activity begins to slow, while the market is priced for most of the recovery as yet to come and large beats to continue,\" he said.</p><p><blockquote>他表示：“因此，周期要先进得多，风险在于经济活动开始放缓，而市场对尚未到来的大部分复苏以及持续的大幅上涨进行了定价。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/risk-of-hard-stock-market-valuation-correction-is-growing-says-deutsche-bank-heres-why-11631292209?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/risk-of-hard-stock-market-valuation-correction-is-growing-says-deutsche-bank-heres-why-11631292209?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2166537600","content_text":"High multiples reflect 'market confusion over where we are in the earnings cycle': Chadha\nLost in the earnings cycle?\nStock-market valuations are \"historically extreme\" by almost every measure. And while valuation corrections don't necessarily result in market pullbacks, the risk of a \"hard\" correction is growing, warned a top Wall Street strategist.\n\"With the current cycle advancing very quickly, the risk that the correction is hard is growing,\" wrote Binky Chadha, chief strategist at Deutsche Bank, in a Thursday note.\nThe warning comes as Wall Street firms have expressed nervousness as equities continue to rally, pushing major indexes to all-time highs, without any significant pullbacks. Including Friday, the S&P 500 has gone 214 trading days without a 5% pullback, rising more than 33% over that stretch. That's the longest run without a pullback since a 404-day run that ended on Feb. 2, ,2018, according to Dow Jones Market Data.\nMajor indexes were on track to lose ground for the week Friday, with the S&P 500 and Dow Jones Industrial Average threatening to extend a losing streak to five sessions. The S&P 500 is down just 1% from a record close hit on Sept. 3 and has more than doubled from its March 2020 pandemic low.\nChadha noted that while equities are \"very expensive,\" that fact alone doesn't require a large market correction. That's because valuations can fall if rising stock prices are outpaced by earnings growth, shrinking the price-to-earnings ratio even as share prices rise.\nThose types of soft valuation corrections are typically seen early in a recovery when earnings growth is rapid, he said. During this recovery, however, the \"compression\" in earnings multiples has been slow and uneven, Chadha observed.\nUsing trailing 12-month earnings, the price-to-earnings, or P/E, ratio for the S&P 500 moved from a low of 14 at the depths of the pandemic 27 at the start of 2021. It has subsequently compressed to 23.1, a decline of 14%, as earnings outpaced the rise in prices, but remains 15% above its historical range of 10 to 20, he noted.\nDeutsche Bank\nMultiples based on forward earnings estimates have been going sideways at an elevated level. Other ratios, such as enterprise value, or EV, relative to EBIT (earnings before interest and taxes) and EV/EBITDA (earnings before interest, taxes, depreciation and amortization) are down modestly from record highs but remain above their tech bubble peaks, Chadha said, while cash-flow based valuations have continued to rise.\nChadha said a \"surprisingly rapid rebound\" in earnings is the most likely explanation for the extreme valuations, noting that S&P 500 earnings have topped the bottom-up analyst consensus estimate by an unprecedented 15 to 20 percentage points for five consecutive quarters. But that dynamic appears set to end, he said, noting the analyst consensus appears to have caught up, while the pace of earnings beats and upgrades, a key driver of equity upside, is set to slow.\n\"At a fundamental level, we believe the key reason multiples are high is market confusion over where we are in the earnings cycle, in part reflecting the speed and surprise with which the economic recovery has unfolded and the large persistent beats this generated,\" he wrote.\nAnd since gross domestic product is still well below trend, there is a popular view that the best of the recovery has yet to come, Chadha said. The problem is that the parts of the economy that S&P 500 companies are most exposed to are already significantly above trend, he said, with 2/3 of S&P 500 industry groups showing activity levels that are one standard deviation or more above trend (see chart below).\nDeutsche Bank\n\" So the cycle is much more advanced and the risk is that activity begins to slow, while the market is priced for most of the recovery as yet to come and large beats to continue,\" he said.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":478,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":815141275,"gmtCreate":1630659934597,"gmtModify":1631892582321,"author":{"id":"4091101047149840","authorId":"4091101047149840","name":"Power1","avatar":"https://static.tigerbbs.com/e4a46b190be5bdc3ed9183051f9036c1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4091101047149840","idStr":"4091101047149840"},"themes":[],"htmlText":"I’m just waiting for the right timing. Please go up,up and away!&nbsp;","listText":"I’m just waiting for the right timing. Please go up,up and away!&nbsp;","text":"I’m just waiting for the right timing. Please go up,up and away!","images":[{"img":"https://static.tigerbbs.com/ad9b00246cf4fc7211e88979d8bfc143","width":"750","height":"1460"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/815141275","isVote":1,"tweetType":1,"viewCount":473,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":815152777,"gmtCreate":1630659286599,"gmtModify":1631892582321,"author":{"id":"4091101047149840","authorId":"4091101047149840","name":"Power1","avatar":"https://static.tigerbbs.com/e4a46b190be5bdc3ed9183051f9036c1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4091101047149840","idStr":"4091101047149840"},"themes":[],"htmlText":"So share price may drop?","listText":"So share price may drop?","text":"So share price may drop?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/815152777","repostId":"1127035937","repostType":4,"repost":{"id":"1127035937","kind":"news","pubTimestamp":1630634731,"share":"https://www.laohu8.com/m/news/1127035937?lang=zh_CN&edition=full","pubTime":"2021-09-03 10:05","market":"us","language":"en","title":"Apple relaxes App Store rules for services such as Spotify and Netflix<blockquote>苹果放宽了Spotify和Netflix等服务的应用商店规则</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1127035937","media":"cnn","summary":"Hong Kong (CNN Business)Apple will allow companies such as Spotify (SPOT) and Netflix (NFLX) to dire","content":"<p>Hong Kong (CNN Business)Apple will allow companies such as Spotify (SPOT) and Netflix (NFLX) to direct customers to their own websites to make payments, allowing them to more easily avoid fees levied by the App Store.</p><p><blockquote>港（CNN Business）苹果将允许Spotify（SPOT）和Netflix（NFLX）等公司将客户引导到自己的网站进行支付，使他们能够更轻松地避免App Store征收的费用。</blockquote></p><p> The iPhone maker's latest concession in a long-standing fight with app developers was announced Wednesday in response to an investigation initiated by Japan's Fair Trade Commission.</p><p><blockquote>这家iPhone制造商周三宣布了在与应用程序开发商的长期斗争中的最新让步，以回应日本公平贸易委员会发起的调查。</blockquote></p><p> The update — which will take effect in early 2022, and applies worldwide — will allow developers of what Apple (AAPL) calls \"reader\" apps to insert a link out to external websites and let people set up or manage their accounts there.</p><p><blockquote>此次更新将于2022年初生效，并在全球范围内适用，将允许苹果(AAPL)评级“阅读器”应用程序的开发者插入外部网站的链接，并让人们在那里设置或管理他们的账户。</blockquote></p><p> Such apps provide previously purchased content or subscriptions for magazines, newspapers, books, audio, music and video, according to Apple. Amazon Video and Kindle are also frequently cited as examples of reader apps.</p><p><blockquote>苹果表示，此类应用程序提供之前购买的内容或杂志、报纸、书籍、音频、音乐和视频的订阅。亚马逊视频和Kindle也经常被引用为阅读器应用的例子。</blockquote></p><p> Spotify and Netflix once allowed users to pay for services in-app, but have since stopped that form of billing for new members amid a dispute with Apple over the hefty commission it charges. Downloading the Netflix app, for example, will allow you to sign in — but only if you have an existing account. The app otherwise tells you to \"join and come back\" once you have an account.</p><p><blockquote>Spotify和Netflix曾经允许用户为应用内服务付费，但由于与苹果就其收取的高额佣金发生纠纷，Spotify和Netflix停止了对新会员的这种计费形式。例如，下载网飞应用程序将允许你登录——但前提是你有一个现有的帐户。否则，一旦您拥有帐户，该应用程序会告诉您“加入并返回”。</blockquote></p><p> Spotify did not immediately respond to a request from CNN Business for comment about the change. Netflix declined to comment.</p><p><blockquote>Spotify没有立即回应CNN Business就这一变化发表评论的请求。Netflix拒绝置评。</blockquote></p><p> \"To ensure a safe and seamless user experience, the App Store's guidelines require developers to sell digital services and subscriptions using Apple's in-app payment system,\" Apple said, adding that it is allowing for the change \"because developers of reader apps do not offer in-app digital goods and services for purchase.\"</p><p><blockquote>苹果表示：“为了确保安全、无缝的用户体验，App Store的指导方针要求开发者使用苹果的应用内支付系统销售数字服务和订阅。”他补充说，它允许这一变化，“因为阅读器应用程序的开发者不提供可供购买的应用内数字商品和服务。”</blockquote></p><p> The update will make it easier for some developers to bypass hefty charges imposed by Apple. The company's commissions go as high as 30% on some purchases made through its platform. Developers have said they have little choice but to comply, since Apple does not allow customers to download apps from any source other than the company's official store.</p><p><blockquote>此次更新将使一些开发商更容易绕过苹果征收的高额费用。该公司通过其平台进行的某些购买的佣金高达30%。开发者表示，他们别无选择，只能遵守，因为苹果不允许客户从该公司官方商店以外的任何来源下载应用程序。</blockquote></p><p> <b>'Divide and conquer'?</b></p><p><blockquote><b>“分而治之”？</b></blockquote></p><p> The issue is at the heart of an EU antitrust investigation and a lawsuit brought against Apple by Fortnite-maker Epic Games. A verdict in the Fortnite case is due any day now. Epic CEO Tim Sweeney tweeted late Wednesday that Apple's \"special deal\" for some media apps amounted to the latest in a \"day-by-day recalculation of divide and conquer in hopes of getting away with most of their tying practices.\"</p><p><blockquote>这个问题是欧盟反垄断调查和堡垒之夜制造商Epic Games对苹果提起诉讼的核心。堡垒之夜案随时都会有判决。Epic首席执行官蒂姆·斯威尼(Tim Sweeney)周三晚间在推特上表示，苹果对一些媒体应用程序的“特别交易”相当于“每天重新计算分而治之的方式，希望摆脱他们的大部分搭售行为”。</blockquote></p><p> \"Apple should open up iOS on the basis of hardware, stores, payments and services each competing individually and on their merits,\" he wrote.</p><p><blockquote>他写道：“苹果应该在硬件、商店、支付和服务的基础上开放iOS，每一个都各自竞争，并根据各自的优点。”</blockquote></p><p> Apple's announcement comes about a week after the company said it would relax some restrictions on how iPhone app makers could communicate with customers outside its App Store.</p><p><blockquote>苹果宣布这一消息大约一周前，该公司表示将放宽对iPhone应用程序制造商如何在其应用商店之外与客户沟通的一些限制。</blockquote></p><p> The company said last week that \"developers can use communications, such as email, to share information about payment methods outside of their iOS app,\" as long as users consent to receiving those emails and have the right to opt out.</p><p><blockquote>该公司上周表示，“开发者可以使用电子邮件等通信方式来分享iOS应用程序之外的支付方式信息”，只要用户同意接收这些电子邮件并有权选择退出。</blockquote></p><p> The announcement also comes after South Korea passed a law that will allow developers to select which payment systems to use to process in-app purchases. That means they may be able to bypass hefty charges imposed by Apple and Google (GOOGL).</p><p><blockquote>此前，韩国通过了一项法律，允许开发者选择使用哪些支付系统来处理应用内购买。这意味着他们或许能够绕过苹果和谷歌（GOOGL）征收的高额费用。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple relaxes App Store rules for services such as Spotify and Netflix<blockquote>苹果放宽了Spotify和Netflix等服务的应用商店规则</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple relaxes App Store rules for services such as Spotify and Netflix<blockquote>苹果放宽了Spotify和Netflix等服务的应用商店规则</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">cnn</strong><span class=\"h-time small\">2021-09-03 10:05</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Hong Kong (CNN Business)Apple will allow companies such as Spotify (SPOT) and Netflix (NFLX) to direct customers to their own websites to make payments, allowing them to more easily avoid fees levied by the App Store.</p><p><blockquote>港（CNN Business）苹果将允许Spotify（SPOT）和Netflix（NFLX）等公司将客户引导到自己的网站进行支付，使他们能够更轻松地避免App Store征收的费用。</blockquote></p><p> The iPhone maker's latest concession in a long-standing fight with app developers was announced Wednesday in response to an investigation initiated by Japan's Fair Trade Commission.</p><p><blockquote>这家iPhone制造商周三宣布了在与应用程序开发商的长期斗争中的最新让步，以回应日本公平贸易委员会发起的调查。</blockquote></p><p> The update — which will take effect in early 2022, and applies worldwide — will allow developers of what Apple (AAPL) calls \"reader\" apps to insert a link out to external websites and let people set up or manage their accounts there.</p><p><blockquote>此次更新将于2022年初生效，并在全球范围内适用，将允许苹果(AAPL)评级“阅读器”应用程序的开发者插入外部网站的链接，并让人们在那里设置或管理他们的账户。</blockquote></p><p> Such apps provide previously purchased content or subscriptions for magazines, newspapers, books, audio, music and video, according to Apple. Amazon Video and Kindle are also frequently cited as examples of reader apps.</p><p><blockquote>苹果表示，此类应用程序提供之前购买的内容或杂志、报纸、书籍、音频、音乐和视频的订阅。亚马逊视频和Kindle也经常被引用为阅读器应用的例子。</blockquote></p><p> Spotify and Netflix once allowed users to pay for services in-app, but have since stopped that form of billing for new members amid a dispute with Apple over the hefty commission it charges. Downloading the Netflix app, for example, will allow you to sign in — but only if you have an existing account. The app otherwise tells you to \"join and come back\" once you have an account.</p><p><blockquote>Spotify和Netflix曾经允许用户为应用内服务付费，但由于与苹果就其收取的高额佣金发生纠纷，Spotify和Netflix停止了对新会员的这种计费形式。例如，下载网飞应用程序将允许你登录——但前提是你有一个现有的帐户。否则，一旦您拥有帐户，该应用程序会告诉您“加入并返回”。</blockquote></p><p> Spotify did not immediately respond to a request from CNN Business for comment about the change. Netflix declined to comment.</p><p><blockquote>Spotify没有立即回应CNN Business就这一变化发表评论的请求。Netflix拒绝置评。</blockquote></p><p> \"To ensure a safe and seamless user experience, the App Store's guidelines require developers to sell digital services and subscriptions using Apple's in-app payment system,\" Apple said, adding that it is allowing for the change \"because developers of reader apps do not offer in-app digital goods and services for purchase.\"</p><p><blockquote>苹果表示：“为了确保安全、无缝的用户体验，App Store的指导方针要求开发者使用苹果的应用内支付系统销售数字服务和订阅。”他补充说，它允许这一变化，“因为阅读器应用程序的开发者不提供可供购买的应用内数字商品和服务。”</blockquote></p><p> The update will make it easier for some developers to bypass hefty charges imposed by Apple. The company's commissions go as high as 30% on some purchases made through its platform. Developers have said they have little choice but to comply, since Apple does not allow customers to download apps from any source other than the company's official store.</p><p><blockquote>此次更新将使一些开发商更容易绕过苹果征收的高额费用。该公司通过其平台进行的某些购买的佣金高达30%。开发者表示，他们别无选择，只能遵守，因为苹果不允许客户从该公司官方商店以外的任何来源下载应用程序。</blockquote></p><p> <b>'Divide and conquer'?</b></p><p><blockquote><b>“分而治之”？</b></blockquote></p><p> The issue is at the heart of an EU antitrust investigation and a lawsuit brought against Apple by Fortnite-maker Epic Games. A verdict in the Fortnite case is due any day now. Epic CEO Tim Sweeney tweeted late Wednesday that Apple's \"special deal\" for some media apps amounted to the latest in a \"day-by-day recalculation of divide and conquer in hopes of getting away with most of their tying practices.\"</p><p><blockquote>这个问题是欧盟反垄断调查和堡垒之夜制造商Epic Games对苹果提起诉讼的核心。堡垒之夜案随时都会有判决。Epic首席执行官蒂姆·斯威尼(Tim Sweeney)周三晚间在推特上表示，苹果对一些媒体应用程序的“特别交易”相当于“每天重新计算分而治之的方式，希望摆脱他们的大部分搭售行为”。</blockquote></p><p> \"Apple should open up iOS on the basis of hardware, stores, payments and services each competing individually and on their merits,\" he wrote.</p><p><blockquote>他写道：“苹果应该在硬件、商店、支付和服务的基础上开放iOS，每一个都各自竞争，并根据各自的优点。”</blockquote></p><p> Apple's announcement comes about a week after the company said it would relax some restrictions on how iPhone app makers could communicate with customers outside its App Store.</p><p><blockquote>苹果宣布这一消息大约一周前，该公司表示将放宽对iPhone应用程序制造商如何在其应用商店之外与客户沟通的一些限制。</blockquote></p><p> The company said last week that \"developers can use communications, such as email, to share information about payment methods outside of their iOS app,\" as long as users consent to receiving those emails and have the right to opt out.</p><p><blockquote>该公司上周表示，“开发者可以使用电子邮件等通信方式来分享iOS应用程序之外的支付方式信息”，只要用户同意接收这些电子邮件并有权选择退出。</blockquote></p><p> The announcement also comes after South Korea passed a law that will allow developers to select which payment systems to use to process in-app purchases. That means they may be able to bypass hefty charges imposed by Apple and Google (GOOGL).</p><p><blockquote>此前，韩国通过了一项法律，允许开发者选择使用哪些支付系统来处理应用内购买。这意味着他们或许能够绕过苹果和谷歌（GOOGL）征收的高额费用。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://edition.cnn.com/2021/09/02/tech/apple-app-store-changes-intl-hnk/index.html\">cnn</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NFLX":"奈飞","AAPL":"苹果","SPOT":"Spotify Technology S.A."},"source_url":"https://edition.cnn.com/2021/09/02/tech/apple-app-store-changes-intl-hnk/index.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1127035937","content_text":"Hong Kong (CNN Business)Apple will allow companies such as Spotify (SPOT) and Netflix (NFLX) to direct customers to their own websites to make payments, allowing them to more easily avoid fees levied by the App Store.\nThe iPhone maker's latest concession in a long-standing fight with app developers was announced Wednesday in response to an investigation initiated by Japan's Fair Trade Commission.\nThe update — which will take effect in early 2022, and applies worldwide — will allow developers of what Apple (AAPL) calls \"reader\" apps to insert a link out to external websites and let people set up or manage their accounts there.\nSuch apps provide previously purchased content or subscriptions for magazines, newspapers, books, audio, music and video, according to Apple. Amazon Video and Kindle are also frequently cited as examples of reader apps.\nSpotify and Netflix once allowed users to pay for services in-app, but have since stopped that form of billing for new members amid a dispute with Apple over the hefty commission it charges. Downloading the Netflix app, for example, will allow you to sign in — but only if you have an existing account. The app otherwise tells you to \"join and come back\" once you have an account.\nSpotify did not immediately respond to a request from CNN Business for comment about the change. Netflix declined to comment.\n\"To ensure a safe and seamless user experience, the App Store's guidelines require developers to sell digital services and subscriptions using Apple's in-app payment system,\" Apple said, adding that it is allowing for the change \"because developers of reader apps do not offer in-app digital goods and services for purchase.\"\nThe update will make it easier for some developers to bypass hefty charges imposed by Apple. The company's commissions go as high as 30% on some purchases made through its platform. Developers have said they have little choice but to comply, since Apple does not allow customers to download apps from any source other than the company's official store.\n'Divide and conquer'?\nThe issue is at the heart of an EU antitrust investigation and a lawsuit brought against Apple by Fortnite-maker Epic Games. A verdict in the Fortnite case is due any day now. Epic CEO Tim Sweeney tweeted late Wednesday that Apple's \"special deal\" for some media apps amounted to the latest in a \"day-by-day recalculation of divide and conquer in hopes of getting away with most of their tying practices.\"\n\"Apple should open up iOS on the basis of hardware, stores, payments and services each competing individually and on their merits,\" he wrote.\nApple's announcement comes about a week after the company said it would relax some restrictions on how iPhone app makers could communicate with customers outside its App Store.\nThe company said last week that \"developers can use communications, such as email, to share information about payment methods outside of their iOS app,\" as long as users consent to receiving those emails and have the right to opt out.\nThe announcement also comes after South Korea passed a law that will allow developers to select which payment systems to use to process in-app purchases. That means they may be able to bypass hefty charges imposed by Apple and Google (GOOGL).","news_type":1,"symbols_score_info":{"NFLX":0.9,"SPOT":0.9,"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":610,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":812040148,"gmtCreate":1630543039084,"gmtModify":1631885170113,"author":{"id":"4091101047149840","authorId":"4091101047149840","name":"Power1","avatar":"https://static.tigerbbs.com/e4a46b190be5bdc3ed9183051f9036c1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4091101047149840","idStr":"4091101047149840"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/DYNT\">$Dynatronics(DYNT)$</a>hope this will go up up andaway!","listText":"<a href=\"https://laohu8.com/S/DYNT\">$Dynatronics(DYNT)$</a>hope this will go up up andaway!","text":"$Dynatronics(DYNT)$hope this will go up up andaway!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/812040148","isVote":1,"tweetType":1,"viewCount":312,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":829152636,"gmtCreate":1633482475842,"gmtModify":1633482549858,"author":{"id":"4091101047149840","authorId":"4091101047149840","name":"Power1","avatar":"https://static.tigerbbs.com/e4a46b190be5bdc3ed9183051f9036c1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4091101047149840","idStr":"4091101047149840"},"themes":[],"htmlText":"Hurray! It’s alive again!","listText":"Hurray! It’s alive again!","text":"Hurray! It’s alive again!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/829152636","repostId":"1101968131","repostType":4,"isVote":1,"tweetType":1,"viewCount":3019,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":837109629,"gmtCreate":1629860804461,"gmtModify":1631892582323,"author":{"id":"4091101047149840","authorId":"4091101047149840","name":"Power1","avatar":"https://static.tigerbbs.com/e4a46b190be5bdc3ed9183051f9036c1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4091101047149840","idStr":"4091101047149840"},"themes":[],"htmlText":"Will apple hit 170?","listText":"Will apple hit 170?","text":"Will apple hit 170?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/837109629","repostId":"2162808263","repostType":4,"isVote":1,"tweetType":1,"viewCount":256,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":823705515,"gmtCreate":1633658585652,"gmtModify":1633658585837,"author":{"id":"4091101047149840","authorId":"4091101047149840","name":"Power1","avatar":"https://static.tigerbbs.com/e4a46b190be5bdc3ed9183051f9036c1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4091101047149840","idStr":"4091101047149840"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/823705515","repostId":"1163018074","repostType":4,"isVote":1,"tweetType":1,"viewCount":3097,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":604200486,"gmtCreate":1639396434859,"gmtModify":1639396435065,"author":{"id":"4091101047149840","authorId":"4091101047149840","name":"Power1","avatar":"https://static.tigerbbs.com/e4a46b190be5bdc3ed9183051f9036c1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4091101047149840","idStr":"4091101047149840"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/RW0U.SI\">$MAPLETREE NORTH ASIA COMM TR(RW0U.SI)$</a>I’ve faith in you! Add oil and go to the moon 🌕🌍🌙💫","listText":"<a href=\"https://laohu8.com/S/RW0U.SI\">$MAPLETREE NORTH ASIA COMM TR(RW0U.SI)$</a>I’ve faith in you! Add oil and go to the moon 🌕🌍🌙💫","text":"$MAPLETREE NORTH ASIA COMM TR(RW0U.SI)$I’ve faith in you! Add oil and go to the moon 🌕🌍🌙💫","images":[{"img":"https://static.tigerbbs.com/27d7d7eab196bf1f9c860b8d7d48de9d","width":"828","height":"1632"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/604200486","isVote":1,"tweetType":1,"viewCount":3584,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3566385558470298","authorId":"3566385558470298","name":"Venus_M","avatar":"https://static.tigerbbs.com/525433622d774840840ddaacaf2281d2","crmLevel":11,"crmLevelSwitch":0,"authorIdStr":"3566385558470298","idStr":"3566385558470298"},"content":"加油↖(^ω^)↗","text":"加油↖(^ω^)↗","html":"加油↖(^ω^)↗"}],"imageCount":1,"langContent":"CN","totalScore":0},{"id":823704584,"gmtCreate":1633658653376,"gmtModify":1633658658439,"author":{"id":"4091101047149840","authorId":"4091101047149840","name":"Power1","avatar":"https://static.tigerbbs.com/e4a46b190be5bdc3ed9183051f9036c1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4091101047149840","idStr":"4091101047149840"},"themes":[],"htmlText":"So sad, CICT is the top decliner. I thought I can sell today . Looks like gotta hold til finanacial statement is out","listText":"So sad, CICT is the top decliner. I thought I can sell today . Looks like gotta hold til finanacial statement is out","text":"So sad, CICT is the top decliner. I thought I can sell today . Looks like gotta hold til finanacial statement is out","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/823704584","repostId":"1189726057","repostType":4,"isVote":1,"tweetType":1,"viewCount":2746,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":862666737,"gmtCreate":1632876247895,"gmtModify":1632876247971,"author":{"id":"4091101047149840","authorId":"4091101047149840","name":"Power1","avatar":"https://static.tigerbbs.com/e4a46b190be5bdc3ed9183051f9036c1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4091101047149840","idStr":"4091101047149840"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/C38U.SI\">$CapLand IntCom T(C38U.SI)$</a>Waiting for year end for it to go up to $2.35 or will it not?","listText":"<a href=\"https://laohu8.com/S/C38U.SI\">$CapLand IntCom T(C38U.SI)$</a>Waiting for year end for it to go up to $2.35 or will it not?","text":"$CapLand IntCom T(C38U.SI)$Waiting for year end for it to go up to $2.35 or will it not?","images":[{"img":"https://static.tigerbbs.com/1112225829cd34b56a0d57a7e85a3687","width":"828","height":"1632"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/862666737","isVote":1,"tweetType":1,"viewCount":2337,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":868814309,"gmtCreate":1632628471901,"gmtModify":1632649517243,"author":{"id":"4091101047149840","authorId":"4091101047149840","name":"Power1","avatar":"https://static.tigerbbs.com/e4a46b190be5bdc3ed9183051f9036c1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4091101047149840","idStr":"4091101047149840"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/O39.SI\">$OVERSEA-CHINESE BANKING CORP(O39.SI)$</a>good time to buy now! When 2022 comes that’s when you will laugh your way to the bank [Grin]&nbsp;","listText":"<a href=\"https://laohu8.com/S/O39.SI\">$OVERSEA-CHINESE BANKING CORP(O39.SI)$</a>good time to buy now! When 2022 comes that’s when you will laugh your way to the bank [Grin]&nbsp;","text":"$OVERSEA-CHINESE BANKING CORP(O39.SI)$good time to buy now! When 2022 comes that’s when you will laugh your way to the bank [Grin]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/868814309","isVote":1,"tweetType":1,"viewCount":685,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":860992555,"gmtCreate":1632116112277,"gmtModify":1632802726861,"author":{"id":"4091101047149840","authorId":"4091101047149840","name":"Power1","avatar":"https://static.tigerbbs.com/e4a46b190be5bdc3ed9183051f9036c1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4091101047149840","idStr":"4091101047149840"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/ME8U.SI\">$MAPLETREE INDUSTRIAL TRUST(ME8U.SI)$</a>I have full confidence in this stock. Strong backing by Temasek and data is the in&nbsp;thing now!","listText":"<a href=\"https://laohu8.com/S/ME8U.SI\">$MAPLETREE INDUSTRIAL TRUST(ME8U.SI)$</a>I have full confidence in this stock. Strong backing by Temasek and data is the in&nbsp;thing now!","text":"$MAPLETREE INDUSTRIAL TRUST(ME8U.SI)$I have full confidence in this stock. Strong backing by Temasek and data is the in thing now!","images":[{"img":"https://static.tigerbbs.com/7f482caeb22a581f833a1c3f23883ca0","width":"828","height":"1434"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/860992555","isVote":1,"tweetType":1,"viewCount":301,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":850457796,"gmtCreate":1634620003109,"gmtModify":1634620003273,"author":{"id":"4091101047149840","authorId":"4091101047149840","name":"Power1","avatar":"https://static.tigerbbs.com/e4a46b190be5bdc3ed9183051f9036c1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4091101047149840","idStr":"4091101047149840"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/M44U.SI\">$MAPLETREE LOGISTICS TRUST(M44U.SI)$</a>I believe when reopening comes, logistics will do well! All the best to M44U.SI! Waiting for dividends too!","listText":"<a href=\"https://laohu8.com/S/M44U.SI\">$MAPLETREE LOGISTICS TRUST(M44U.SI)$</a>I believe when reopening comes, logistics will do well! All the best to M44U.SI! Waiting for dividends too!","text":"$MAPLETREE LOGISTICS TRUST(M44U.SI)$I believe when reopening comes, logistics will do well! All the best to M44U.SI! Waiting for dividends too!","images":[{"img":"https://static.tigerbbs.com/d1d98599b04f0a4f1749909a6a422d1d","width":"828","height":"1632"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/850457796","isVote":1,"tweetType":1,"viewCount":3869,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":605850073,"gmtCreate":1639147166373,"gmtModify":1639147166503,"author":{"id":"4091101047149840","authorId":"4091101047149840","name":"Power1","avatar":"https://static.tigerbbs.com/e4a46b190be5bdc3ed9183051f9036c1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4091101047149840","idStr":"4091101047149840"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/N2IU.SI\">$MAPLETREE COMMERCIAL TRUST(N2IU.SI)$</a>Go go go!","listText":"<a href=\"https://laohu8.com/S/N2IU.SI\">$MAPLETREE COMMERCIAL TRUST(N2IU.SI)$</a>Go go go!","text":"$MAPLETREE COMMERCIAL TRUST(N2IU.SI)$Go go go!","images":[{"img":"https://static.tigerbbs.com/556244d9a46ccfea91d170cd7025ac1e","width":"750","height":"1687"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/605850073","isVote":1,"tweetType":1,"viewCount":3349,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":858446523,"gmtCreate":1635118849378,"gmtModify":1635118849552,"author":{"id":"4091101047149840","authorId":"4091101047149840","name":"Power1","avatar":"https://static.tigerbbs.com/e4a46b190be5bdc3ed9183051f9036c1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4091101047149840","idStr":"4091101047149840"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/C38U.SI\">$CapLand IntCom T(C38U.SI)$</a>With reports of more than double NPI of $242.6 million for 3QFY, IThink today the price is gonna go up! Positive news!","listText":"<a href=\"https://laohu8.com/S/C38U.SI\">$CapLand IntCom T(C38U.SI)$</a>With reports of more than double NPI of $242.6 million for 3QFY, IThink today the price is gonna go up! Positive news!","text":"$CapLand IntCom T(C38U.SI)$With reports of more than double NPI of $242.6 million for 3QFY, IThink today the price is gonna go up! Positive news!","images":[{"img":"https://static.tigerbbs.com/ba1fb688c61e57e4216360a471f551c5","width":"828","height":"1632"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/858446523","isVote":1,"tweetType":1,"viewCount":2239,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":864540643,"gmtCreate":1633134402017,"gmtModify":1633134402276,"author":{"id":"4091101047149840","authorId":"4091101047149840","name":"Power1","avatar":"https://static.tigerbbs.com/e4a46b190be5bdc3ed9183051f9036c1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4091101047149840","idStr":"4091101047149840"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/N2IU.SI\">$MAPLETREE COMMERCIAL TRUST(N2IU.SI)$</a>Only stock on hand&nbsp;making small profits when stock price went down yesterday. Waiting to collect dividends in November ….&nbsp;","listText":"<a href=\"https://laohu8.com/S/N2IU.SI\">$MAPLETREE COMMERCIAL TRUST(N2IU.SI)$</a>Only stock on hand&nbsp;making small profits when stock price went down yesterday. Waiting to collect dividends in November ….&nbsp;","text":"$MAPLETREE COMMERCIAL TRUST(N2IU.SI)$Only stock on hand making small profits when stock price went down yesterday. Waiting to collect dividends in November ….","images":[{"img":"https://static.tigerbbs.com/49adee70c3a1866768eed4035411070c","width":"828","height":"1632"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/864540643","isVote":1,"tweetType":1,"viewCount":3912,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":887928399,"gmtCreate":1631961004111,"gmtModify":1632805070663,"author":{"id":"4091101047149840","authorId":"4091101047149840","name":"Power1","avatar":"https://static.tigerbbs.com/e4a46b190be5bdc3ed9183051f9036c1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4091101047149840","idStr":"4091101047149840"},"themes":[],"htmlText":"Waiting for reopening for it to hit $14?","listText":"Waiting for reopening for it to hit $14?","text":"Waiting for reopening for it to hit $14?","images":[{"img":"https://static.tigerbbs.com/08dad7b66c214b7c80f8b0d52b8b6528","width":"750","height":"1460"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/887928399","isVote":1,"tweetType":1,"viewCount":490,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":887921505,"gmtCreate":1631960955907,"gmtModify":1632805070907,"author":{"id":"4091101047149840","authorId":"4091101047149840","name":"Power1","avatar":"https://static.tigerbbs.com/e4a46b190be5bdc3ed9183051f9036c1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4091101047149840","idStr":"4091101047149840"},"themes":[],"htmlText":"There’s hope! It’s up again!","listText":"There’s hope! It’s up again!","text":"There’s hope! It’s up again!","images":[{"img":"https://static.tigerbbs.com/997bf33094f03d5b776b95bfeef44625","width":"750","height":"1460"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/887921505","isVote":1,"tweetType":1,"viewCount":457,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":887923340,"gmtCreate":1631960665280,"gmtModify":1632805072250,"author":{"id":"4091101047149840","authorId":"4091101047149840","name":"Power1","avatar":"https://static.tigerbbs.com/e4a46b190be5bdc3ed9183051f9036c1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4091101047149840","idStr":"4091101047149840"},"themes":[],"htmlText":"Hopefully China shares can go up soon!","listText":"Hopefully China shares can go up soon!","text":"Hopefully China shares can go up soon!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/887923340","isVote":1,"tweetType":3,"object":{"tweetId":"887923340","title":"中国股市的下一个大机会","poster":"https://mmbiz.qpic.cn/mmbiz_png/d5bKpC8icfvkT6IVWAs4XLuoAH9nIEpyIGnekzBTC91ibOVtEfalPNB6y6H7bkZPUVHu1ONY2Qah2K76w3lsudMQ/640?wx_fmt=png","shareLink":"https://mp.weixin.qq.com/s/-2Dkl0ke7-3pgmYt65S-2A"},"viewCount":346,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":887923025,"gmtCreate":1631960607067,"gmtModify":1632805072496,"author":{"id":"4091101047149840","authorId":"4091101047149840","name":"Power1","avatar":"https://static.tigerbbs.com/e4a46b190be5bdc3ed9183051f9036c1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4091101047149840","idStr":"4091101047149840"},"themes":[],"htmlText":"https://mp.weixin.qq.com/s/-2Dkl0ke7-3pgmYt65S-2A","listText":"https://mp.weixin.qq.com/s/-2Dkl0ke7-3pgmYt65S-2A","text":"https://mp.weixin.qq.com/s/-2Dkl0ke7-3pgmYt65S-2A","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/887923025","isVote":1,"tweetType":1,"viewCount":718,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":888172024,"gmtCreate":1631469076368,"gmtModify":1631892582319,"author":{"id":"4091101047149840","authorId":"4091101047149840","name":"Power1","avatar":"https://static.tigerbbs.com/e4a46b190be5bdc3ed9183051f9036c1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4091101047149840","idStr":"4091101047149840"},"themes":[],"htmlText":"Aiyo I m waiting to let go. Don’t know when is the best time","listText":"Aiyo I m waiting to let go. Don’t know when is the best time","text":"Aiyo I m waiting to let go. Don’t know when is the best time","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/888172024","repostId":"2166537600","repostType":4,"repost":{"id":"2166537600","kind":"highlight","pubTimestamp":1631318207,"share":"https://www.laohu8.com/m/news/2166537600?lang=zh_CN&edition=full","pubTime":"2021-09-11 07:56","market":"us","language":"en","title":"Risk of 'hard' stock-market valuation correction is growing, says Deutsche Bank -- here's why<blockquote>德意志银行表示，股市估值“硬”调整的风险正在增加——原因如下</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2166537600","media":"MarketWatch","summary":"High multiples reflect 'market confusion over where we are in the earnings cycle': Chadha\nLost in th","content":"<p>High multiples reflect 'market confusion over where we are in the earnings cycle': Chadha</p><p><blockquote>查达：高市盈率反映了“市场对我们在盈利周期中所处位置的困惑”</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9e4dd275ed18f5023ec5874e9d6d56ce\" tg-width=\"700\" tg-height=\"470\" referrerpolicy=\"no-referrer\"><span>Lost in the earnings cycle?</span></p><p><blockquote><p class=\"t-img-caption\"><span>迷失在盈利周期中？</span></p></blockquote></p><p> Stock-market valuations are \"historically extreme\" by almost every measure. And while valuation corrections don't necessarily result in market pullbacks, the risk of a \"hard\" correction is growing, warned a top Wall Street strategist.</p><p><blockquote>从几乎所有指标来看，股市估值都处于“历史极端”状态。华尔街一位顶级策略师警告称，虽然估值调整不一定会导致市场回调，但“硬”调整的风险正在增加。</blockquote></p><p> \"With the current cycle advancing very quickly, the risk that the correction is hard is growing,\" wrote Binky Chadha, chief strategist at Deutsche Bank, in a Thursday note.</p><p><blockquote>德意志银行首席策略师Binky Chadha在周四的一份报告中写道：“随着当前周期的快速推进，难以调整的风险正在增加。”</blockquote></p><p> The warning comes as Wall Street firms have expressed nervousness as equities continue to rally, pushing major indexes to all-time highs, without any significant pullbacks. Including Friday, the S&amp;P 500 has gone 214 trading days without a 5% pullback, rising more than 33% over that stretch. That's the longest run without a pullback since a 404-day run that ended on Feb. 2, ,2018, according to Dow Jones Market Data.</p><p><blockquote>这一警告发出之际，华尔街公司对股市继续上涨表示紧张，将主要股指推至历史新高，但没有出现任何重大回调。包括周五在内，标普500已经有214个交易日没有出现5%的回调，在此期间上涨了33%以上。根据道琼斯市场数据，这是自2018年2月2日结束的404天运行以来最长的没有回调的运行。</blockquote></p><p> Major indexes were on track to lose ground for the week Friday, with the S&amp;P 500 and Dow Jones Industrial Average threatening to extend a losing streak to five sessions. The S&amp;P 500 is down just 1% from a record close hit on Sept. 3 and has more than doubled from its March 2020 pandemic low.</p><p><blockquote>周五，主要股指本周有望下跌，标普500和道琼斯工业平均指数有可能将连跌扩大至五个交易日。标普500较9月3日创纪录的收盘价仅下跌1%，较2020年3月大流行低点上涨了一倍多。</blockquote></p><p> Chadha noted that while equities are \"very expensive,\" that fact alone doesn't require a large market correction. That's because valuations can fall if rising stock prices are outpaced by earnings growth, shrinking the price-to-earnings ratio even as share prices rise.</p><p><blockquote>查达指出，虽然股票“非常昂贵”，但仅凭这一事实并不需要市场大幅调整。这是因为，如果股价上涨速度超过盈利增长速度，估值可能会下降，即使股价上涨，市盈率也会缩小。</blockquote></p><p> Those types of soft valuation corrections are typically seen early in a recovery when earnings growth is rapid, he said. During this recovery, however, the \"compression\" in earnings multiples has been slow and uneven, Chadha observed.</p><p><blockquote>他表示，这些类型的软估值调整通常出现在盈利快速增长的复苏早期。然而，查达观察到，在这次复苏期间，市盈率的“压缩”缓慢且不均衡。</blockquote></p><p> Using trailing 12-month earnings, the price-to-earnings, or P/E, ratio for the S&amp;P 500 moved from a low of 14 at the depths of the pandemic 27 at the start of 2021. It has subsequently compressed to 23.1, a decline of 14%, as earnings outpaced the rise in prices, but remains 15% above its historical range of 10 to 20, he noted.</p><p><blockquote>根据过去12个月的收益，标普500的市盈率从疫情最严重时的低点14升至2021年初的27。他指出，由于盈利超过了价格上涨，该指数随后压缩至23.1，下降了14%，但仍比10至20的历史区间高出15%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ee77cba9751ddd0cb4c42c1d02ed436d\" tg-width=\"700\" tg-height=\"531\" referrerpolicy=\"no-referrer\"><span>Deutsche Bank</span></p><p><blockquote><p class=\"t-img-caption\"><span>德意志银行</span></p></blockquote></p><p> Multiples based on forward earnings estimates have been going sideways at an elevated level. Other ratios, such as enterprise value, or EV, relative to EBIT (earnings before interest and taxes) and EV/EBITDA (earnings before interest, taxes, depreciation and amortization) are down modestly from record highs but remain above their tech bubble peaks, Chadha said, while cash-flow based valuations have continued to rise.</p><p><blockquote>基于前瞻性盈利预测的市盈率一直在高位横盘整理。查达表示，其他比率，例如企业价值（EV）相对于EBIT（息税折旧及摊销前利润）和EV/EBITDA（息税折旧及摊销前利润）较历史高点小幅下降，但仍高于科技泡沫峰值，而基于现金流的估值持续上升。</blockquote></p><p> Chadha said a \"surprisingly rapid rebound\" in earnings is the most likely explanation for the extreme valuations, noting that S&amp;P 500 earnings have topped the bottom-up analyst consensus estimate by an unprecedented 15 to 20 percentage points for five consecutive quarters. But that dynamic appears set to end, he said, noting the analyst consensus appears to have caught up, while the pace of earnings beats and upgrades, a key driver of equity upside, is set to slow.</p><p><blockquote>Chadha表示，盈利“令人惊讶的快速反弹”是极端估值最有可能的解释，并指出标普500的盈利已经连续五个季度前所未有地超过了自下而上的分析师普遍预期15至20个百分点。但他表示，这种动态似乎即将结束，并指出分析师的共识似乎已经赶上，而作为股市上涨关键驱动力的盈利超出预期和升级步伐将放缓。</blockquote></p><p> \"At a fundamental level, we believe the key reason multiples are high is market confusion over where we are in the earnings cycle, in part reflecting the speed and surprise with which the economic recovery has unfolded and the large persistent beats this generated,\" he wrote.</p><p><blockquote>“从基本面来看，我们认为市盈率较高的关键原因是市场对我们在盈利周期中所处位置的困惑，这在一定程度上反映了经济复苏的速度和惊喜以及由此产生的持续大幅上涨，”他写道。</blockquote></p><p> And since gross domestic product is still well below trend, there is a popular view that the best of the recovery has yet to come, Chadha said. The problem is that the parts of the economy that S&amp;P 500 companies are most exposed to are already significantly above trend, he said, with 2/3 of S&amp;P 500 industry groups showing activity levels that are one standard deviation or more above trend (see chart below).</p><p><blockquote>查达表示，由于国内生产总值仍远低于趋势水平，人们普遍认为复苏的最佳时期尚未到来。他表示，问题在于，标普500公司最受影响的经济领域已经明显高于趋势，2/3的标普500行业集团的活动水平比趋势高出一个标准差或更多（见下图）。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ff72fc4d219104d5d04ba1768dce6f5a\" tg-width=\"700\" tg-height=\"486\" referrerpolicy=\"no-referrer\"><span>Deutsche Bank</span></p><p><blockquote><p class=\"t-img-caption\"><span>德意志银行</span></p></blockquote></p><p> \" So the cycle is much more advanced and the risk is that activity begins to slow, while the market is priced for most of the recovery as yet to come and large beats to continue,\" he said.</p><p><blockquote>他表示：“因此，周期要先进得多，风险在于经济活动开始放缓，而市场对尚未到来的大部分复苏以及持续的大幅上涨进行了定价。”</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Risk of 'hard' stock-market valuation correction is growing, says Deutsche Bank -- here's why<blockquote>德意志银行表示，股市估值“硬”调整的风险正在增加——原因如下</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nRisk of 'hard' stock-market valuation correction is growing, says Deutsche Bank -- here's why<blockquote>德意志银行表示，股市估值“硬”调整的风险正在增加——原因如下</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-09-11 07:56</span>\n</p>\n</h4>\n</header>\n<article>\n<p>High multiples reflect 'market confusion over where we are in the earnings cycle': Chadha</p><p><blockquote>查达：高市盈率反映了“市场对我们在盈利周期中所处位置的困惑”</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9e4dd275ed18f5023ec5874e9d6d56ce\" tg-width=\"700\" tg-height=\"470\" referrerpolicy=\"no-referrer\"><span>Lost in the earnings cycle?</span></p><p><blockquote><p class=\"t-img-caption\"><span>迷失在盈利周期中？</span></p></blockquote></p><p> Stock-market valuations are \"historically extreme\" by almost every measure. And while valuation corrections don't necessarily result in market pullbacks, the risk of a \"hard\" correction is growing, warned a top Wall Street strategist.</p><p><blockquote>从几乎所有指标来看，股市估值都处于“历史极端”状态。华尔街一位顶级策略师警告称，虽然估值调整不一定会导致市场回调，但“硬”调整的风险正在增加。</blockquote></p><p> \"With the current cycle advancing very quickly, the risk that the correction is hard is growing,\" wrote Binky Chadha, chief strategist at Deutsche Bank, in a Thursday note.</p><p><blockquote>德意志银行首席策略师Binky Chadha在周四的一份报告中写道：“随着当前周期的快速推进，难以调整的风险正在增加。”</blockquote></p><p> The warning comes as Wall Street firms have expressed nervousness as equities continue to rally, pushing major indexes to all-time highs, without any significant pullbacks. Including Friday, the S&amp;P 500 has gone 214 trading days without a 5% pullback, rising more than 33% over that stretch. That's the longest run without a pullback since a 404-day run that ended on Feb. 2, ,2018, according to Dow Jones Market Data.</p><p><blockquote>这一警告发出之际，华尔街公司对股市继续上涨表示紧张，将主要股指推至历史新高，但没有出现任何重大回调。包括周五在内，标普500已经有214个交易日没有出现5%的回调，在此期间上涨了33%以上。根据道琼斯市场数据，这是自2018年2月2日结束的404天运行以来最长的没有回调的运行。</blockquote></p><p> Major indexes were on track to lose ground for the week Friday, with the S&amp;P 500 and Dow Jones Industrial Average threatening to extend a losing streak to five sessions. The S&amp;P 500 is down just 1% from a record close hit on Sept. 3 and has more than doubled from its March 2020 pandemic low.</p><p><blockquote>周五，主要股指本周有望下跌，标普500和道琼斯工业平均指数有可能将连跌扩大至五个交易日。标普500较9月3日创纪录的收盘价仅下跌1%，较2020年3月大流行低点上涨了一倍多。</blockquote></p><p> Chadha noted that while equities are \"very expensive,\" that fact alone doesn't require a large market correction. That's because valuations can fall if rising stock prices are outpaced by earnings growth, shrinking the price-to-earnings ratio even as share prices rise.</p><p><blockquote>查达指出，虽然股票“非常昂贵”，但仅凭这一事实并不需要市场大幅调整。这是因为，如果股价上涨速度超过盈利增长速度，估值可能会下降，即使股价上涨，市盈率也会缩小。</blockquote></p><p> Those types of soft valuation corrections are typically seen early in a recovery when earnings growth is rapid, he said. During this recovery, however, the \"compression\" in earnings multiples has been slow and uneven, Chadha observed.</p><p><blockquote>他表示，这些类型的软估值调整通常出现在盈利快速增长的复苏早期。然而，查达观察到，在这次复苏期间，市盈率的“压缩”缓慢且不均衡。</blockquote></p><p> Using trailing 12-month earnings, the price-to-earnings, or P/E, ratio for the S&amp;P 500 moved from a low of 14 at the depths of the pandemic 27 at the start of 2021. It has subsequently compressed to 23.1, a decline of 14%, as earnings outpaced the rise in prices, but remains 15% above its historical range of 10 to 20, he noted.</p><p><blockquote>根据过去12个月的收益，标普500的市盈率从疫情最严重时的低点14升至2021年初的27。他指出，由于盈利超过了价格上涨，该指数随后压缩至23.1，下降了14%，但仍比10至20的历史区间高出15%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ee77cba9751ddd0cb4c42c1d02ed436d\" tg-width=\"700\" tg-height=\"531\" referrerpolicy=\"no-referrer\"><span>Deutsche Bank</span></p><p><blockquote><p class=\"t-img-caption\"><span>德意志银行</span></p></blockquote></p><p> Multiples based on forward earnings estimates have been going sideways at an elevated level. Other ratios, such as enterprise value, or EV, relative to EBIT (earnings before interest and taxes) and EV/EBITDA (earnings before interest, taxes, depreciation and amortization) are down modestly from record highs but remain above their tech bubble peaks, Chadha said, while cash-flow based valuations have continued to rise.</p><p><blockquote>基于前瞻性盈利预测的市盈率一直在高位横盘整理。查达表示，其他比率，例如企业价值（EV）相对于EBIT（息税折旧及摊销前利润）和EV/EBITDA（息税折旧及摊销前利润）较历史高点小幅下降，但仍高于科技泡沫峰值，而基于现金流的估值持续上升。</blockquote></p><p> Chadha said a \"surprisingly rapid rebound\" in earnings is the most likely explanation for the extreme valuations, noting that S&amp;P 500 earnings have topped the bottom-up analyst consensus estimate by an unprecedented 15 to 20 percentage points for five consecutive quarters. But that dynamic appears set to end, he said, noting the analyst consensus appears to have caught up, while the pace of earnings beats and upgrades, a key driver of equity upside, is set to slow.</p><p><blockquote>Chadha表示，盈利“令人惊讶的快速反弹”是极端估值最有可能的解释，并指出标普500的盈利已经连续五个季度前所未有地超过了自下而上的分析师普遍预期15至20个百分点。但他表示，这种动态似乎即将结束，并指出分析师的共识似乎已经赶上，而作为股市上涨关键驱动力的盈利超出预期和升级步伐将放缓。</blockquote></p><p> \"At a fundamental level, we believe the key reason multiples are high is market confusion over where we are in the earnings cycle, in part reflecting the speed and surprise with which the economic recovery has unfolded and the large persistent beats this generated,\" he wrote.</p><p><blockquote>“从基本面来看，我们认为市盈率较高的关键原因是市场对我们在盈利周期中所处位置的困惑，这在一定程度上反映了经济复苏的速度和惊喜以及由此产生的持续大幅上涨，”他写道。</blockquote></p><p> And since gross domestic product is still well below trend, there is a popular view that the best of the recovery has yet to come, Chadha said. The problem is that the parts of the economy that S&amp;P 500 companies are most exposed to are already significantly above trend, he said, with 2/3 of S&amp;P 500 industry groups showing activity levels that are one standard deviation or more above trend (see chart below).</p><p><blockquote>查达表示，由于国内生产总值仍远低于趋势水平，人们普遍认为复苏的最佳时期尚未到来。他表示，问题在于，标普500公司最受影响的经济领域已经明显高于趋势，2/3的标普500行业集团的活动水平比趋势高出一个标准差或更多（见下图）。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ff72fc4d219104d5d04ba1768dce6f5a\" tg-width=\"700\" tg-height=\"486\" referrerpolicy=\"no-referrer\"><span>Deutsche Bank</span></p><p><blockquote><p class=\"t-img-caption\"><span>德意志银行</span></p></blockquote></p><p> \" So the cycle is much more advanced and the risk is that activity begins to slow, while the market is priced for most of the recovery as yet to come and large beats to continue,\" he said.</p><p><blockquote>他表示：“因此，周期要先进得多，风险在于经济活动开始放缓，而市场对尚未到来的大部分复苏以及持续的大幅上涨进行了定价。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/risk-of-hard-stock-market-valuation-correction-is-growing-says-deutsche-bank-heres-why-11631292209?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/risk-of-hard-stock-market-valuation-correction-is-growing-says-deutsche-bank-heres-why-11631292209?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2166537600","content_text":"High multiples reflect 'market confusion over where we are in the earnings cycle': Chadha\nLost in the earnings cycle?\nStock-market valuations are \"historically extreme\" by almost every measure. And while valuation corrections don't necessarily result in market pullbacks, the risk of a \"hard\" correction is growing, warned a top Wall Street strategist.\n\"With the current cycle advancing very quickly, the risk that the correction is hard is growing,\" wrote Binky Chadha, chief strategist at Deutsche Bank, in a Thursday note.\nThe warning comes as Wall Street firms have expressed nervousness as equities continue to rally, pushing major indexes to all-time highs, without any significant pullbacks. Including Friday, the S&P 500 has gone 214 trading days without a 5% pullback, rising more than 33% over that stretch. That's the longest run without a pullback since a 404-day run that ended on Feb. 2, ,2018, according to Dow Jones Market Data.\nMajor indexes were on track to lose ground for the week Friday, with the S&P 500 and Dow Jones Industrial Average threatening to extend a losing streak to five sessions. The S&P 500 is down just 1% from a record close hit on Sept. 3 and has more than doubled from its March 2020 pandemic low.\nChadha noted that while equities are \"very expensive,\" that fact alone doesn't require a large market correction. That's because valuations can fall if rising stock prices are outpaced by earnings growth, shrinking the price-to-earnings ratio even as share prices rise.\nThose types of soft valuation corrections are typically seen early in a recovery when earnings growth is rapid, he said. During this recovery, however, the \"compression\" in earnings multiples has been slow and uneven, Chadha observed.\nUsing trailing 12-month earnings, the price-to-earnings, or P/E, ratio for the S&P 500 moved from a low of 14 at the depths of the pandemic 27 at the start of 2021. It has subsequently compressed to 23.1, a decline of 14%, as earnings outpaced the rise in prices, but remains 15% above its historical range of 10 to 20, he noted.\nDeutsche Bank\nMultiples based on forward earnings estimates have been going sideways at an elevated level. Other ratios, such as enterprise value, or EV, relative to EBIT (earnings before interest and taxes) and EV/EBITDA (earnings before interest, taxes, depreciation and amortization) are down modestly from record highs but remain above their tech bubble peaks, Chadha said, while cash-flow based valuations have continued to rise.\nChadha said a \"surprisingly rapid rebound\" in earnings is the most likely explanation for the extreme valuations, noting that S&P 500 earnings have topped the bottom-up analyst consensus estimate by an unprecedented 15 to 20 percentage points for five consecutive quarters. But that dynamic appears set to end, he said, noting the analyst consensus appears to have caught up, while the pace of earnings beats and upgrades, a key driver of equity upside, is set to slow.\n\"At a fundamental level, we believe the key reason multiples are high is market confusion over where we are in the earnings cycle, in part reflecting the speed and surprise with which the economic recovery has unfolded and the large persistent beats this generated,\" he wrote.\nAnd since gross domestic product is still well below trend, there is a popular view that the best of the recovery has yet to come, Chadha said. The problem is that the parts of the economy that S&P 500 companies are most exposed to are already significantly above trend, he said, with 2/3 of S&P 500 industry groups showing activity levels that are one standard deviation or more above trend (see chart below).\nDeutsche Bank\n\" So the cycle is much more advanced and the risk is that activity begins to slow, while the market is priced for most of the recovery as yet to come and large beats to continue,\" he said.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":478,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":815141275,"gmtCreate":1630659934597,"gmtModify":1631892582321,"author":{"id":"4091101047149840","authorId":"4091101047149840","name":"Power1","avatar":"https://static.tigerbbs.com/e4a46b190be5bdc3ed9183051f9036c1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4091101047149840","idStr":"4091101047149840"},"themes":[],"htmlText":"I’m just waiting for the right timing. Please go up,up and away!&nbsp;","listText":"I’m just waiting for the right timing. Please go up,up and away!&nbsp;","text":"I’m just waiting for the right timing. Please go up,up and away!","images":[{"img":"https://static.tigerbbs.com/ad9b00246cf4fc7211e88979d8bfc143","width":"750","height":"1460"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/815141275","isVote":1,"tweetType":1,"viewCount":473,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":815152777,"gmtCreate":1630659286599,"gmtModify":1631892582321,"author":{"id":"4091101047149840","authorId":"4091101047149840","name":"Power1","avatar":"https://static.tigerbbs.com/e4a46b190be5bdc3ed9183051f9036c1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4091101047149840","idStr":"4091101047149840"},"themes":[],"htmlText":"So share price may drop?","listText":"So share price may drop?","text":"So share price may drop?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/815152777","repostId":"1127035937","repostType":4,"repost":{"id":"1127035937","kind":"news","pubTimestamp":1630634731,"share":"https://www.laohu8.com/m/news/1127035937?lang=zh_CN&edition=full","pubTime":"2021-09-03 10:05","market":"us","language":"en","title":"Apple relaxes App Store rules for services such as Spotify and Netflix<blockquote>苹果放宽了Spotify和Netflix等服务的应用商店规则</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1127035937","media":"cnn","summary":"Hong Kong (CNN Business)Apple will allow companies such as Spotify (SPOT) and Netflix (NFLX) to dire","content":"<p>Hong Kong (CNN Business)Apple will allow companies such as Spotify (SPOT) and Netflix (NFLX) to direct customers to their own websites to make payments, allowing them to more easily avoid fees levied by the App Store.</p><p><blockquote>港（CNN Business）苹果将允许Spotify（SPOT）和Netflix（NFLX）等公司将客户引导到自己的网站进行支付，使他们能够更轻松地避免App Store征收的费用。</blockquote></p><p> The iPhone maker's latest concession in a long-standing fight with app developers was announced Wednesday in response to an investigation initiated by Japan's Fair Trade Commission.</p><p><blockquote>这家iPhone制造商周三宣布了在与应用程序开发商的长期斗争中的最新让步，以回应日本公平贸易委员会发起的调查。</blockquote></p><p> The update — which will take effect in early 2022, and applies worldwide — will allow developers of what Apple (AAPL) calls \"reader\" apps to insert a link out to external websites and let people set up or manage their accounts there.</p><p><blockquote>此次更新将于2022年初生效，并在全球范围内适用，将允许苹果(AAPL)评级“阅读器”应用程序的开发者插入外部网站的链接，并让人们在那里设置或管理他们的账户。</blockquote></p><p> Such apps provide previously purchased content or subscriptions for magazines, newspapers, books, audio, music and video, according to Apple. Amazon Video and Kindle are also frequently cited as examples of reader apps.</p><p><blockquote>苹果表示，此类应用程序提供之前购买的内容或杂志、报纸、书籍、音频、音乐和视频的订阅。亚马逊视频和Kindle也经常被引用为阅读器应用的例子。</blockquote></p><p> Spotify and Netflix once allowed users to pay for services in-app, but have since stopped that form of billing for new members amid a dispute with Apple over the hefty commission it charges. Downloading the Netflix app, for example, will allow you to sign in — but only if you have an existing account. The app otherwise tells you to \"join and come back\" once you have an account.</p><p><blockquote>Spotify和Netflix曾经允许用户为应用内服务付费，但由于与苹果就其收取的高额佣金发生纠纷，Spotify和Netflix停止了对新会员的这种计费形式。例如，下载网飞应用程序将允许你登录——但前提是你有一个现有的帐户。否则，一旦您拥有帐户，该应用程序会告诉您“加入并返回”。</blockquote></p><p> Spotify did not immediately respond to a request from CNN Business for comment about the change. Netflix declined to comment.</p><p><blockquote>Spotify没有立即回应CNN Business就这一变化发表评论的请求。Netflix拒绝置评。</blockquote></p><p> \"To ensure a safe and seamless user experience, the App Store's guidelines require developers to sell digital services and subscriptions using Apple's in-app payment system,\" Apple said, adding that it is allowing for the change \"because developers of reader apps do not offer in-app digital goods and services for purchase.\"</p><p><blockquote>苹果表示：“为了确保安全、无缝的用户体验，App Store的指导方针要求开发者使用苹果的应用内支付系统销售数字服务和订阅。”他补充说，它允许这一变化，“因为阅读器应用程序的开发者不提供可供购买的应用内数字商品和服务。”</blockquote></p><p> The update will make it easier for some developers to bypass hefty charges imposed by Apple. The company's commissions go as high as 30% on some purchases made through its platform. Developers have said they have little choice but to comply, since Apple does not allow customers to download apps from any source other than the company's official store.</p><p><blockquote>此次更新将使一些开发商更容易绕过苹果征收的高额费用。该公司通过其平台进行的某些购买的佣金高达30%。开发者表示，他们别无选择，只能遵守，因为苹果不允许客户从该公司官方商店以外的任何来源下载应用程序。</blockquote></p><p> <b>'Divide and conquer'?</b></p><p><blockquote><b>“分而治之”？</b></blockquote></p><p> The issue is at the heart of an EU antitrust investigation and a lawsuit brought against Apple by Fortnite-maker Epic Games. A verdict in the Fortnite case is due any day now. Epic CEO Tim Sweeney tweeted late Wednesday that Apple's \"special deal\" for some media apps amounted to the latest in a \"day-by-day recalculation of divide and conquer in hopes of getting away with most of their tying practices.\"</p><p><blockquote>这个问题是欧盟反垄断调查和堡垒之夜制造商Epic Games对苹果提起诉讼的核心。堡垒之夜案随时都会有判决。Epic首席执行官蒂姆·斯威尼(Tim Sweeney)周三晚间在推特上表示，苹果对一些媒体应用程序的“特别交易”相当于“每天重新计算分而治之的方式，希望摆脱他们的大部分搭售行为”。</blockquote></p><p> \"Apple should open up iOS on the basis of hardware, stores, payments and services each competing individually and on their merits,\" he wrote.</p><p><blockquote>他写道：“苹果应该在硬件、商店、支付和服务的基础上开放iOS，每一个都各自竞争，并根据各自的优点。”</blockquote></p><p> Apple's announcement comes about a week after the company said it would relax some restrictions on how iPhone app makers could communicate with customers outside its App Store.</p><p><blockquote>苹果宣布这一消息大约一周前，该公司表示将放宽对iPhone应用程序制造商如何在其应用商店之外与客户沟通的一些限制。</blockquote></p><p> The company said last week that \"developers can use communications, such as email, to share information about payment methods outside of their iOS app,\" as long as users consent to receiving those emails and have the right to opt out.</p><p><blockquote>该公司上周表示，“开发者可以使用电子邮件等通信方式来分享iOS应用程序之外的支付方式信息”，只要用户同意接收这些电子邮件并有权选择退出。</blockquote></p><p> The announcement also comes after South Korea passed a law that will allow developers to select which payment systems to use to process in-app purchases. That means they may be able to bypass hefty charges imposed by Apple and Google (GOOGL).</p><p><blockquote>此前，韩国通过了一项法律，允许开发者选择使用哪些支付系统来处理应用内购买。这意味着他们或许能够绕过苹果和谷歌（GOOGL）征收的高额费用。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple relaxes App Store rules for services such as Spotify and Netflix<blockquote>苹果放宽了Spotify和Netflix等服务的应用商店规则</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple relaxes App Store rules for services such as Spotify and Netflix<blockquote>苹果放宽了Spotify和Netflix等服务的应用商店规则</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">cnn</strong><span class=\"h-time small\">2021-09-03 10:05</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Hong Kong (CNN Business)Apple will allow companies such as Spotify (SPOT) and Netflix (NFLX) to direct customers to their own websites to make payments, allowing them to more easily avoid fees levied by the App Store.</p><p><blockquote>港（CNN Business）苹果将允许Spotify（SPOT）和Netflix（NFLX）等公司将客户引导到自己的网站进行支付，使他们能够更轻松地避免App Store征收的费用。</blockquote></p><p> The iPhone maker's latest concession in a long-standing fight with app developers was announced Wednesday in response to an investigation initiated by Japan's Fair Trade Commission.</p><p><blockquote>这家iPhone制造商周三宣布了在与应用程序开发商的长期斗争中的最新让步，以回应日本公平贸易委员会发起的调查。</blockquote></p><p> The update — which will take effect in early 2022, and applies worldwide — will allow developers of what Apple (AAPL) calls \"reader\" apps to insert a link out to external websites and let people set up or manage their accounts there.</p><p><blockquote>此次更新将于2022年初生效，并在全球范围内适用，将允许苹果(AAPL)评级“阅读器”应用程序的开发者插入外部网站的链接，并让人们在那里设置或管理他们的账户。</blockquote></p><p> Such apps provide previously purchased content or subscriptions for magazines, newspapers, books, audio, music and video, according to Apple. Amazon Video and Kindle are also frequently cited as examples of reader apps.</p><p><blockquote>苹果表示，此类应用程序提供之前购买的内容或杂志、报纸、书籍、音频、音乐和视频的订阅。亚马逊视频和Kindle也经常被引用为阅读器应用的例子。</blockquote></p><p> Spotify and Netflix once allowed users to pay for services in-app, but have since stopped that form of billing for new members amid a dispute with Apple over the hefty commission it charges. Downloading the Netflix app, for example, will allow you to sign in — but only if you have an existing account. The app otherwise tells you to \"join and come back\" once you have an account.</p><p><blockquote>Spotify和Netflix曾经允许用户为应用内服务付费，但由于与苹果就其收取的高额佣金发生纠纷，Spotify和Netflix停止了对新会员的这种计费形式。例如，下载网飞应用程序将允许你登录——但前提是你有一个现有的帐户。否则，一旦您拥有帐户，该应用程序会告诉您“加入并返回”。</blockquote></p><p> Spotify did not immediately respond to a request from CNN Business for comment about the change. Netflix declined to comment.</p><p><blockquote>Spotify没有立即回应CNN Business就这一变化发表评论的请求。Netflix拒绝置评。</blockquote></p><p> \"To ensure a safe and seamless user experience, the App Store's guidelines require developers to sell digital services and subscriptions using Apple's in-app payment system,\" Apple said, adding that it is allowing for the change \"because developers of reader apps do not offer in-app digital goods and services for purchase.\"</p><p><blockquote>苹果表示：“为了确保安全、无缝的用户体验，App Store的指导方针要求开发者使用苹果的应用内支付系统销售数字服务和订阅。”他补充说，它允许这一变化，“因为阅读器应用程序的开发者不提供可供购买的应用内数字商品和服务。”</blockquote></p><p> The update will make it easier for some developers to bypass hefty charges imposed by Apple. The company's commissions go as high as 30% on some purchases made through its platform. Developers have said they have little choice but to comply, since Apple does not allow customers to download apps from any source other than the company's official store.</p><p><blockquote>此次更新将使一些开发商更容易绕过苹果征收的高额费用。该公司通过其平台进行的某些购买的佣金高达30%。开发者表示，他们别无选择，只能遵守，因为苹果不允许客户从该公司官方商店以外的任何来源下载应用程序。</blockquote></p><p> <b>'Divide and conquer'?</b></p><p><blockquote><b>“分而治之”？</b></blockquote></p><p> The issue is at the heart of an EU antitrust investigation and a lawsuit brought against Apple by Fortnite-maker Epic Games. A verdict in the Fortnite case is due any day now. Epic CEO Tim Sweeney tweeted late Wednesday that Apple's \"special deal\" for some media apps amounted to the latest in a \"day-by-day recalculation of divide and conquer in hopes of getting away with most of their tying practices.\"</p><p><blockquote>这个问题是欧盟反垄断调查和堡垒之夜制造商Epic Games对苹果提起诉讼的核心。堡垒之夜案随时都会有判决。Epic首席执行官蒂姆·斯威尼(Tim Sweeney)周三晚间在推特上表示，苹果对一些媒体应用程序的“特别交易”相当于“每天重新计算分而治之的方式，希望摆脱他们的大部分搭售行为”。</blockquote></p><p> \"Apple should open up iOS on the basis of hardware, stores, payments and services each competing individually and on their merits,\" he wrote.</p><p><blockquote>他写道：“苹果应该在硬件、商店、支付和服务的基础上开放iOS，每一个都各自竞争，并根据各自的优点。”</blockquote></p><p> Apple's announcement comes about a week after the company said it would relax some restrictions on how iPhone app makers could communicate with customers outside its App Store.</p><p><blockquote>苹果宣布这一消息大约一周前，该公司表示将放宽对iPhone应用程序制造商如何在其应用商店之外与客户沟通的一些限制。</blockquote></p><p> The company said last week that \"developers can use communications, such as email, to share information about payment methods outside of their iOS app,\" as long as users consent to receiving those emails and have the right to opt out.</p><p><blockquote>该公司上周表示，“开发者可以使用电子邮件等通信方式来分享iOS应用程序之外的支付方式信息”，只要用户同意接收这些电子邮件并有权选择退出。</blockquote></p><p> The announcement also comes after South Korea passed a law that will allow developers to select which payment systems to use to process in-app purchases. That means they may be able to bypass hefty charges imposed by Apple and Google (GOOGL).</p><p><blockquote>此前，韩国通过了一项法律，允许开发者选择使用哪些支付系统来处理应用内购买。这意味着他们或许能够绕过苹果和谷歌（GOOGL）征收的高额费用。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://edition.cnn.com/2021/09/02/tech/apple-app-store-changes-intl-hnk/index.html\">cnn</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NFLX":"奈飞","AAPL":"苹果","SPOT":"Spotify Technology S.A."},"source_url":"https://edition.cnn.com/2021/09/02/tech/apple-app-store-changes-intl-hnk/index.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1127035937","content_text":"Hong Kong (CNN Business)Apple will allow companies such as Spotify (SPOT) and Netflix (NFLX) to direct customers to their own websites to make payments, allowing them to more easily avoid fees levied by the App Store.\nThe iPhone maker's latest concession in a long-standing fight with app developers was announced Wednesday in response to an investigation initiated by Japan's Fair Trade Commission.\nThe update — which will take effect in early 2022, and applies worldwide — will allow developers of what Apple (AAPL) calls \"reader\" apps to insert a link out to external websites and let people set up or manage their accounts there.\nSuch apps provide previously purchased content or subscriptions for magazines, newspapers, books, audio, music and video, according to Apple. Amazon Video and Kindle are also frequently cited as examples of reader apps.\nSpotify and Netflix once allowed users to pay for services in-app, but have since stopped that form of billing for new members amid a dispute with Apple over the hefty commission it charges. Downloading the Netflix app, for example, will allow you to sign in — but only if you have an existing account. The app otherwise tells you to \"join and come back\" once you have an account.\nSpotify did not immediately respond to a request from CNN Business for comment about the change. Netflix declined to comment.\n\"To ensure a safe and seamless user experience, the App Store's guidelines require developers to sell digital services and subscriptions using Apple's in-app payment system,\" Apple said, adding that it is allowing for the change \"because developers of reader apps do not offer in-app digital goods and services for purchase.\"\nThe update will make it easier for some developers to bypass hefty charges imposed by Apple. The company's commissions go as high as 30% on some purchases made through its platform. Developers have said they have little choice but to comply, since Apple does not allow customers to download apps from any source other than the company's official store.\n'Divide and conquer'?\nThe issue is at the heart of an EU antitrust investigation and a lawsuit brought against Apple by Fortnite-maker Epic Games. A verdict in the Fortnite case is due any day now. Epic CEO Tim Sweeney tweeted late Wednesday that Apple's \"special deal\" for some media apps amounted to the latest in a \"day-by-day recalculation of divide and conquer in hopes of getting away with most of their tying practices.\"\n\"Apple should open up iOS on the basis of hardware, stores, payments and services each competing individually and on their merits,\" he wrote.\nApple's announcement comes about a week after the company said it would relax some restrictions on how iPhone app makers could communicate with customers outside its App Store.\nThe company said last week that \"developers can use communications, such as email, to share information about payment methods outside of their iOS app,\" as long as users consent to receiving those emails and have the right to opt out.\nThe announcement also comes after South Korea passed a law that will allow developers to select which payment systems to use to process in-app purchases. That means they may be able to bypass hefty charges imposed by Apple and Google (GOOGL).","news_type":1,"symbols_score_info":{"NFLX":0.9,"SPOT":0.9,"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":610,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":812040148,"gmtCreate":1630543039084,"gmtModify":1631885170113,"author":{"id":"4091101047149840","authorId":"4091101047149840","name":"Power1","avatar":"https://static.tigerbbs.com/e4a46b190be5bdc3ed9183051f9036c1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4091101047149840","idStr":"4091101047149840"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/DYNT\">$Dynatronics(DYNT)$</a>hope this will go up up andaway!","listText":"<a href=\"https://laohu8.com/S/DYNT\">$Dynatronics(DYNT)$</a>hope this will go up up andaway!","text":"$Dynatronics(DYNT)$hope this will go up up andaway!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/812040148","isVote":1,"tweetType":1,"viewCount":312,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}