Eyeing food & agribusiness public market news

Two China plays are worth keeping an eye on:

• Yum China, which operates fast food restaurants KFC, Taco Bell and Pizza Hut in China, raised $2.22 billion by selling 41.9 million shares at 412 Hong Kong dollars ($53.16) apiece in this secondary listing...shares tumble more than 5% as it debuts in Hong Kong, 9 Sep 2020, https://www.cnbc.com/2020/09/10/yum-china-shares-start-trading-in-hong-kong-in-secondary-listing.html
• Wilmar’s share price came back down to earth last week, after hitting an 8-year high earlier this month. Still, analysts are optimistic about the stock's outlook...The stock plunged as much 11.5% after was reported last Thursday 20 August 2020 that one of its main shareholders – namely Chicago-headquartered Archer Daniels Midland (ADM) – had reduced its stake in the agribusiness group by 2.68%... ADM added that it plans to retain at least 20% of its total shareholding in Wilmar. https://www.ig.com/sg/news-and-trade-ideas/can-wilmar-regain-its-early-august-form--200828 Note: It's share price had rocketed in a straight line up from just over SGD3 to SGD4.80. The markets are pretty positive about the upcoming Shenzhen Exchange listing of Wilmar's China unit - Yihai Kerry Arawana / YKA, https://www.businesstimes.com.sg/companies-markets/wilmar%E2%80%99s-chinese-unit-gets-nod-from-listing-committee-of-shenzhen-exchange.

#Rubberglove makers in Malaysia. These #Covid19 driven stocks have been even more dramatic in terms of share price, E.g., Top Glove went from below MYR2 to over MYR9. And recently, Top Glove, Supermax and Rubberex are involved in major share buybacks.  After such a stomping price rally, a correction was perhaps no surprise, but what has really raised eyebrows is the rapid reaction of their managements to all go for major share buybacks at high levels (albeit down from recent peaks). At the same time, headlines are also asking about #labour standards compliance.