1 China capital flight causes global ripples (Fergus
Ryan in The Guardian) Chinese stock markets fell sharply in their final hour of
trading on Tuesday as investors were rattled by the withdrawal of government
support for shares and further capital flight after last week’s yuan
devaluation.
The Shanghai composite index dropped 6.12%, its
biggest fall since an 8.5% slide on 27 July. By the end of trading about 1,000
companies had plunged by the daily 10% limit, with state-owned firms hardest
hit. The news came as an analysis in the Financial Times found that the flight
of capital from emerging markets has risen towards $1tn over the past 13 months
as confidence in the world’s developing economies dwindles.
Total net capital outflows from the 19 largest
emerging market economies reached $940.2bn in the 13 months to the end of July,
almost double the net $480bn lost over three quarters during the 2008-09
financial crisis, according to a compilation of official data and estimates.
Another survey also showed investors have cut
exposure to emerging markets to record low levels. The monthly Bank of America
Merrill Lynch poll of 202 fund managers showed that China’s slowing economic
momentum and an emerging market debt crisis had replaced a eurozone break-up as
the biggest global “tail risk” in investors’ minds.
2 China’s richest flee share market (Fox Hu &
Cindy Wang in Sydney Morning Herald) Two months into China's stock rout, the
dynamics of the declines are becoming clearer: The wealthiest investors have
been the quickest to bail out of the market.
The number of traders with more than 10 million yuan
($2.1 million) of shares in their accounts shrank by 28 per cent in July, even
as those with less than 100,000 yuan rose by 8 per cent, according to the
nation's clearing agency. While some of the drop is explained by falling market
values, CLSA says China's rich have taken advantage of state-buying to cash out
after the nation's record-long bull market peaked in June.
Investors with the most at stake are finding fewer
reasons to own Chinese shares amid weak corporate earnings and some of the
world's highest valuations. With this month's tumble in the yuan adding to
outflow pressures, bulls have started to question whether there's enough buying
power to prop up prices once the government pares back its unprecedented rescue
effort.
The ranks of investors with at least 10 million yuan
in stocks dropped to about 55,000 in July from 76,000 in June. Those with
between 1 million yuan and 10 million yuan declined by 22 per cent, according
to data compiled by China Securities Depository and Clearing Corp.
3 Why food, sleep and exercise are success
ingredients (Firas Kittaneh in San Francisco Chronicle) How we care for our
bodies affects our performance at work. Skipping your twice weekly workout
because you believe you are strapped for time leads to negative habits that
impact your overall happiness and productivity. Similarly, ordering fast food
instead of cooking to save the hassle of buying groceries and preparing your
own meals hurts more than it helps.
Here are three arguments that will convince you to
pay more mind to the way you eat, sleep and exercise. A. Good food nourishes
the body and powers a strong mind. Did you know that certain foods make you
smarter? For entrepreneurs, the best brain-healthy foods include beets, fish,
berries, lean protein and walnuts. Timing is critical too. Research suggests
the best time to have breakfast is between 7 and 7:30 a.m., lunch between 12:30
and 1 p.m., and dinner between 6 and 6:30 p.m.
B. Working sleepless yields diminishing returns. One
of the more unhealthy habits professionals have today is bragging about how
little sleep they get. While it is admirable a person is willing to put their
body and mind through a 48-hour work marathon, it is outright foolish. Successful
entrepreneurs make it a priority to get a full night’s rest. Workers who
consistently burn the midnight oil burnout. Furthermore, overworked
professionals tend to be less productive than their peers.
C. Exercise refreshes the mind as you exercise the
body. Business magnate Richard Branson suggested, “[exercise] keeps the brain
functioning well and I definitely can achieve twice as much in a day by keeping
fit.” Daily workouts are a necessary ingredient to long-term success. In fact,
President Barack Obama, Bill Gates and Mark Cuban all make a conscious effort
to stay in shape.
For busy entrepreneurs, there are a number of ways
to slowly transition into a consistent workout routine. First, remember that
small changes can make a huge difference. Start by taking the stairs in lieu of
escalators and elevators. Adopt a standing desk. Walk to work. You will quickly
realize that these minor adjustments aid in reducing stress, building
confidence and boosting your energy. Soon enough, you won’t dread going to the
gym. At that point, you may even enjoy it!
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