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No, it's not some newfangled Silicon Valley-generated synthetic fibre. It's... But she's also confident in the brand's fans who have remained supportive through it all. "It helps that our Golden Goose Slide customers are educated in terms of already knowing that buying local and from ethical companies is important," she says.

Birds are chirping, flowers are blooming, and those long-lasting winter blues have finally lifted. They look cute together. Summer beauty is one thing-video-call-ready summer beauty is another. For guidance on the ideal cocktail, look to Kaia Gerber, whose Saturday Instagram share showcased a sunny day styling that worked equally well indoors Golden Goose Sneakers and out.

The designers on the roster are some of fashion's most progressive new talents. Since March 2016, the company's impossibly soft wool lace-up sneakers and slip-on shoes have been flying off shelves, attracting everyone from tech leaders like Google co-founder Larry Page to Hollywood A-listers like Emma Watson and Mila Kunis to world leaders like Barack Obama.

"It helps that our customers are educated in terms Golden Goose Sneakers Outlet of already knowing that buying local and from ethical companies is important," she says. Plenty of those companies are probably hoping to resume "business as usual" when the pandemic slows down, and if we can fix some of fashion's sustainability problems along the way, then that's great; becoming profitable again is the bigger goal.

I know they do so much for athletes," he says. "That's one thing I think that's good that has come from this; a lot of people have had to accelerate their technology," she says. The Bata Shoe Museum may be celebrating its 25th anniversary this year, but its creative director and senior curator Elizabeth Semmelhack has a momentous milestone of her own to celebrate too: 20 years working at the renowned Toronto museum. New Balances are quiet, yet comforting.

The coronavirus quarantine may have canceled the majority of Hollywood events, but Lawrence's fashion prowess is still evident. Sneakers are getting mileage this spring锟斤拷both on and off the treadmill. How did you manage to put together a collection over Zoom, when the nuances of texture or pattern or construction are lost in the digital haze? And now, as designers and their teams return to their studios, the question has shifted once again. Rutson's particular gift as a buyer was understanding how an avant-garde runway piece might work in a real woman's wardrobe, and that's reflected in her own style.

Alongside their uncompromising vision for both the creative and business facets of the brand, the pair have also taken a savvy approach to social media to spread the word. One example is their recognition of Instagram as an essential (and cost-effective) marketing tool, allowing them to establish a dialogue with their clients that has only deepened during lockdown.

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But she's also confident in the brand's fans who have remained supportive through it all. "It helps that our customers are educated in terms of already knowing that buying local and from ethical companies is important," she says. Election year or not, the United States Postal Service is a lifeline in our country in a multitude of ways, "providing a vital public service that is critical Golden Goose to this country's infrastructure," as stated on their site. People rely on the USPS to stay connected to the rest of the country when privatized mail options like FedEx or UPS are not an option due to proximity or cost.

But when any system collapses in nature, it creates the opportunity for a new one to grow, and that gives me hope. That was when the idea of a sneaker made out of natural materials began to coalesce in Brown's mind, especially given the fact that he hails from New Zealand, "the land of 27 million sheep." But as a Golden Goose Hi Star native Kiwi, he knew his perceptions of wool were vastly different from others'.

Goertz characterizes her new Crocs are the quintessential pandemic purchase: an Golden Goose Sale irrational impulse buy she likely never would have considered had the world not turned completely upside down. "They've become my quarantine shoes," she says. And much like Reformation's apparel, its shoes are sustainable too. Those familiar with Rutson's former life as an OG street style icon might find that pretty shocking.

Plenty of those companies are probably hoping to resume "business as usual" when the pandemic slows down, and if we can fix some of fashion's sustainability problems along the way, then that's great; becoming profitable again is the bigger goal. I cannot see myself running around having multiple meetings a day for weeks and weeks on end with a wardrobe that needs to reflect that.

While she's still based out of her hometown of Dallas, Texas, Aldridge travels frequently. Before she arrived in Toronto she was in Paris, covering the Le Bal des Debutantes for Sea of Shoes. But what exactly does 'work from home' mean when you're a global icon? "There's so much to do, right?" She laughs. Rousseau cage booties are a new favourite.

To be honest with you? I think there's a lot of online shopping going on right now. And that's not to make light of this very serious situation, and the people working very hard to stop it. With that in mind, below is a selection of the most stylish masks to buy now. Named the 'Dr.

The New Balance 530 V2 is the hot new pick over the muted silver, so consider them if you want something flashier to offset your sweatpants (bonus points if you wear them with white crew socks). Or you can opt for the footwear brand's collaboration with Aime Leon Dore's which conveniently dropped in March, just as we sheltered in place.

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That fight was how the fights in gold wow classic Naxx should have been tuned.Not too. It was the very first raid, it was never SUPPOSED to be super tough. We spent a few months getting it on farm, other raids like Ulduar supplied a wonderful challenge when we had our roster firmed up and working collectively.Blizzard has been facing a fair amount of criticism from players in the time for having invested a great deal of resources in raids which were experienced by very few players.

They started to address this in Wotlk and while I believe they ultimately went too far with LFR and catch-up mechanics, re-releasing Naxx as a more accessible entry level raid was one of their better efforts in this area imo.I really feel as I am the only person who liked the Argent tournament, but full revelation that I took a rest during TBC and arrived back before Icecrown dropped so it's not like it was the only real raid.The tournament was stupid from a lore perspective.

We had this big invasion happening, we eventually made it into ICC and are ready to confront Arthas. Lets forget about it and have a tournament! And the greatest reason why the raid sucked: It was the first raid which introduced normal/heroic versions on a lockout level (in Ulduar you opted to play with an experience in normal/heroic and that was it). You had to conduct the raid 4 times each week: 10 man ordinary & epic, 25 man ordinary & heroic. You doubled the raiding when compared with previous raids.

Itemization endured from mywowgold wow classic gold this as well with normal/heroic versions. It was idle. You may only have 50 wipes inside the whole instance. After that"good bye, come again next week". It left the raids more stressful, because every death wasn't only a"I fucked up cost us a time lets go again" but it became a"Shit, I simply dropped us a try, perhaps we won't have sufficient attempts left to clear the instance".

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This can also resolve the issue of pkers having to OSRS gold grind for money and then resort to botting because again this is actually boring, as pkers now will have the capital to start a pk lender and have great skills to begin pking. Additionally with this account selling and trading would most likely decrease the buyers end, which will reduce selling and demand balances as a whole.

I might elaborate on this later. I am finding it a lot more difficult to get find XP rates in each ability to make a reasonable adjustment based on natural XP speed limitations. What do you think are feasible training procedures and their base XP/h rates for every ability, for medium-high level players? Skilling methods considered should have gp/xp ratios that aren't totally outrageous, such as Demonic Thrones which cost far too much to be a training method that many people would use.To prevent sensory overload, Kaczrowski does most of the shopping at night when there are fewer people in the stores. "It is great, because I can not always predict where people are going to move to -- and I don't wish to be in the way," he clarified. Repetitive behaviors are common in people with Asperger's. Kaczrowski recently achieved an honor in the online gaming world by utilizing this common symptom to his benefit.

The internet game has over 10 million active accounts every day and Kaczrowski is rated third among these players at the repetitive ability of runecrafting -- an achievement of which he and Karen are proud. In his life, Kaczrowski was surprised at his own in-tune senses. After, while holding his nephew, who had been born premature, he felt the infant was having difficulties breathing. Over and over he voiced his concerns.

"I had been fairly annoying about it, also," Kaczrowski admitted. That evening the baby became blue and has been rushed to the hospital with breathing difficulties -- as Kaczrowski has felt earlier. He can hear things most folks can not -- such as the hum of a downstairs pc while he's lying in bed upstairs. He's mitigated many of the issues at home by wearing special headphones that reduce the intensity of top tones. "I can hear her chew, swallow and listen to her walking around." With a big grin, Karen added,"When he plays piano, he likes me to sit quietly and never proceed."

Kaczrowski does what he can to help others know Asperger's by coordinating at Camp Courage North near Bemidji, a camp for youth with Asperger's. He has spoken at teachers' conventions to help teachers better understand how to work with students who struggle with autism and Asperger's. "My number one message is when a person is experiencing issues, you will see the meltdown eventually. You have to cheap RuneScape gold lower the input to this individual," explained Kaczrowski. "They have a handicap of saying -- they will not be able to let you know exactly what they are feeling, because that's also processing and how are they going to find that out?"


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Within my RS career I've been able to own a LOT of  RuneScape gold unique items. How you look in-game, I believe, greatly affects how people treat you. By way of example, when I wore full 3rd age at roughly level 110, I drew a great deal of children asking how I made money etc.. I just wear a very nubby nasty outfit (Mith chain, studded chaps, golden ammy, etc), And that I admitt, I really like it!

Mainly because I believe people perceive me as a nub so they ignore me. In fact the other day I had been sporting the aforementioned and I changed to Total bandos+claws. A man next to me was like,"Oh lol Luftey, didn't realize you were 120, thought you were like a level 40". Point of my babbling, how can you think... A) Your ensemble influences people comment of you. B) To what extent do you judge someone based on their own outfit? I personally think most people ignore me in my new outfit... As far as others, I try not to, however when I see somebody in a D med, or bandos+glory or hell just complete rune+glory I'm tempted to mentally set them from the nub document, even though that usually isn't the situation.

Thought about that a little. In Soul Wars, you have the obelisk at the middle, and 2 graveyards to the other side, right? Anyywayyy, the primary objective of this game is to get your own graveyard to your group: Today your near the obelisk, the most important part of the game. You try to kill the avatar: Let us say your team wins. Some guy decreases ava level to zero via obelisk, and then next, your staff chooses another graveyard:

Your close to the avatar now. Probably what made me wonder that the MOST is now, another team just has the house graveyard: RIGHT NEXT TO THE AVATAR. In a, IDUNNO, PERFECT place to defend it? I know development is mutations eventually leading to the greater race/animal: Survival of the fittest. But, it is a little of the same context. If we think Gielnorianly (professional word), is not that a very nice cause -> effect arrangement? Please, DO NOT tell me that'omg u noob this aint ny evolution gtfo nub and receive science degre kthxbai'.

I was thinking about developing a skiller account, after among these joined a dunging celebration I was in. While the rest of us were draining mobs out of chambers, wondering at which the door to get our keys were, and usually doing the normal job, this lvl 3 skiller went , for want of a better word, sucked up each resouce point. At the conclusion of the level, the whole celebration got"Beast Mode" name, which states"You displayed Mod (some thing )'s stubborness by exhausting every possible source on the way into  rs3 gold the boss." I thought, wow, being a skiller at a dung party convinced has its advantages...

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Harry Winston (HARRY WINSTON) Ocean Two-way Automatic 42mm

Carl Eady reviewed a stunning Harry Winston Ocean Biretrograde self-winding 42mm watch with a beautiful mother-of-pearl dial and diamond case.Harry Winston Ocean Biretrograde Perpetual Calendar OCEAPC42WW001

The late Harry Winston (Harry Winston) is known as the "King of Diamonds" and is well-known worldwide. During his long and prosperous life, he owned and traded some of the most famous gems on the planet, including the Jonker Diamond and the Hope Diamond. Since the marketing genius made him lend diamonds to Jennifer Jones (Jennifer Jones) for best actress at the 1944 Academy Awards, his name has been inseparable from Hollywood stars. The award ceremony and haute couture ensemble were looking for one of the brand's diamond-studded works. It wasn't until 1989, about 11 years after Harry Winston's death, that the brand's first watch series came out. Since then, its watchmaking ability has grown from powerful to brilliant.

In 2001, the then-Harry Winston (Harry Winston) rare timing chief executive Max Büsser (Max Büsser) planned and launched the "Opus" series of watches. FP Journe created the first collection series, a stunning and mechanically outstanding timepiece series. Since then, respected independent watchmakers such as Felix Baumgartner, Vianney Halter, Greubel Forsey and Andreas Strehler have contributed to the Opus project, further enhancing the brand's watch credibility.Jacob & Co Epic X Chrono Messi EC312.42.PD.LL.A

The Swatch Group acquired Harry Winston in 2013. Under the ownership of the Swiss giant, the Swatch Group continues to issue some of the most luxurious watches on the market. Its collection includes conservative "Emerald", elegant "Premier" and "Avenue", to incredible technology "Tourbillon History" and "Project Z". All of these have served as one of the crown jewels of the Swatch Group for the establishment of the Harry Winston timepiece.

In 2017, in order to comply with the nautical theme of the series, Harry Winston released the stunning version of "Ocean Double Retrograde". The watch is equipped with a mother-of-pearl dial and a total of 367 brilliants. Cut diamonds.

The dial configuration will prove familiar to the devotees of Harry Winston. It consists of eccentric hour and minute sub-dials, with double retrograde, semi-circular displays on both sides, which show the week and day of the week respectively. The surface of each pointer is coated with Super-LumiNova to maximize readability, although I suspect that most of the life of this watch will be concentrated in the spotlight. The circumferences of the hour and minute hands are highly polished white gold scales separated by clusters of brilliant-cut diamonds. This dazzling effect is copied to the curved trajectory of the retrograde function, providing a satisfactory balance and symmetry. In order to highlight the marine theme, the mother-of-pearl on each retrograde display is decorated with a delicate guilloche wave pattern, which may be a small detail, but it strengthens the nautical theme.Breguet Tradition 7027 replica watches

The triangular diamond-encrusted hands are located on the lower part of the dial, drawing the eye to the date at 6 o'clock. The circular hole is surrounded by more diamonds, and the date is displayed through an enlarged porthole. The clever use of depth and volume conveys a mastery of perspective, which will please the most discerning watch connoisseur.

Compared with many Swiss brands in the Swatch Group, Harry Winston is relatively young. However, nostalgia pervades every case of The Ocean Collection. The eye-catching crown with the initials "HW" is protected by two wide shoulders, paying tribute to the grand arch of the Harry Winston Salon on Fifth Avenue in New York. The 18k white gold case and tapered lugs are decorated with brilliant-cut white diamonds. Even the lugs and the grooves in the Biretrograde pusher are filled with diamonds.

A case with a diameter of 42mm is not suitable for medium wrists, especially considering its sparkling starry sky. By keeping the depth at only 10.6 mm, the watch wears exceptionally well and can be easily slipped into the shirt cuff in those moments where moderation is needed.Review replica watches

On the contrary, Harry Winston's name, logo and gold sign mark the exquisite circular brushes around the case. The lower side of the ears is decorated with linear brushwork to complete the case decoration. The sapphire caseback provides a view of the movement.

Such exquisite jewelry watches, especially attractive brands, are dangerous and may ignore the value of watches. However, the HW3305 movement is a highly reliable Swiss movement with rich functions.

The self-winding movement includes 312 parts, including 35 jewels. Its intricate decoration is outstanding, and it shows a variety of decoration techniques. The hollow platinum rotor is engraved with Harry Winston's name, while the bridge is decorated with circular textures, Geneva corrugated decoration and professional twill decoration.

The HW3305 movement uses the latest silicon technology. In the past decade, several luxury brands have adopted silicon due to its characteristics. This state-of-the-art glass-like material is corrosion-resistant, diamagnetic, impact-resistant, and resistant to deformation. However, from the owner's point of view, perhaps the most significant benefit of using silicon is to extend maintenance intervals.

The power reserve is 65 hours and the frequency of the balance is 28,800 vph (4 Hz).Richard Mille RM 27-04 Rafael Nadal

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China’s world-beating stock market has exceeded US$10 trillion in total capitalisation for the first time since the infamous rout in 2015, with the benchmark gauge topping all major global equity indexes as the government brought the coronavirus pandemic under control.To get more economy news today, you can visit shine news official website.

The combined values of shares trading on the Shanghai and Shenzhen exchanges reached US$10.04 trillion on Monday, according to Bloomberg data. The market value briefly touched US$10.05 trillion in June 2015, the only other time it has reached the threshold, before a catastrophic meltdown erased half that value in the subsequent three months. The ascent follows a back-to-back rally after the market resumed trading after the “golden week” holiday, with emphatic gains over the past two trading days. The surge has some merits this time, as the world’s second-largest economy became the first to lift the virus lockdown. It is also the first so far to rebound from a contraction, as the US and Europe struggle with a resurgence of infections. This week’s trading could keep the US$10 trillion mark intact if the bulls keep up to the roaring start to the week. Much of the optimism is tied to President Xi Jinping’s planned visit to Shenzhen on Wednesday, with eyes on his policy address to mark the city’s 40th anniversary as a special economic zone.

China’s market is now the world’s second-largest behind the US, which is capitalised at US$38.3 trillion. Japan and Hong Kong are ranked third and fourth, with market caps of US$6.2 trillion and US$5.9 trillion respectively. China’s economy returned to growth in the second quarter with 3.2 per cent expansion, bouncing back from a 6.8 per cent decline in the previous three-month period. Gross domestic product likely expanded by 5.2 per cent last quarter, according to the market consensus.

The GDP report is due on October 19. While the listed companies still posted a decline in second-quarter earnings, the decrease significantly narrowed from that in the first three months and analysts estimated full-year growth would return to positive territory. An uptick in economic and earnings growth coupled with a record amount of loans unleashed by commercial banks to spur growth has propelled stocks. The Shanghai Composite Index has advanced 10 per cent this year for the biggest gain among the major equity gauges globally, while a ChiNext gauge of start-ups on the Shenzhen bourse is even more impressive, gaining by over 50 per cent.

The MSCI Asia-Pacific Index has risen 3.7 per cent in 2020 and the MSCI World Index has added 5.1 per cent. The run-up on Chinese stocks went through twists and turns. The Shanghai Composite slumped by as much as 13 per cent in March, almost dragging the gauge into bear territory as the market was ravaged by the outbreak of Covid-19, which was first reported in the central city of Wuhan. The market recouped all the losses afterwards and tested a two-year high, as policymakers imposed strict lockdown measures and ramped up efforts to shore up growth.

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Goldman sees China's economy shrinking 9% in first quarter amid coronavirus outbreak Goldman Sachs said on Tuesday that China’s economy will likely shrink 9% in the first quarter, underscoring how the coronavirus has disrupted normal business activities, while China reported an uptick in new cases of the disease, most of them imported.To get more China economy news, you can visit shine news official website.

Goldman cut its estimate for China’s first-quarter gross domestic product growth to a 9% contraction, from a previous forecast of 2.5% growth, citing “strikingly weak” economic data in January and February that was reported on Monday. It also lowered its full-year GDP forecast to 3% growth from an earlier estimate of 5.5%. For the fourth straight day, imported coronavirus cases in China outnumbered cases of local transmission.

The rising risk of imported cases has prompted some parts of the country to tighten monitoring of foreign travelers, and the Chinese foreign ministry on Tuesday advised its citizens to avoid travel to high-risk countries. Mainland China had 21 new confirmed cases on Monday, the National Health Commission said, up from 16 a day earlier. Of the new cases, 20 involved infected travelers from abroad. Raising further concerns about spread of the disease, a man recently returned from Spain has tested positive for the virus - despite showing no symptoms - and has been put under observation and into quarantine, according to a statement on the website of the city of Mianyang, Sichuan.

An additional 25 passengers who had shared a flight with the man and two of his family members have also been subject to quarantine, the statement said. In contrast to the growing number of imported cases, mainland China had only one case of locally transmitted infection on Monday, in Wuhan, capital of central Hubei province where the flu-like disease appeared in humans late last year. The capital Beijing accounted for nine of the imported new cases even as it imposed tough restrictions to screen out and isolate infections coming from abroad.Beijing Capital International Airport has cordoned off a special zone for all international flights, with all disembarking passengers required to submit to health checks.

Transit passengers were sent to their connecting flights, while non-transit passengers were shuttled to a nearby processing venue from which they were dispatched to designated places for compulsory 14-day quarantine. Beijing also closed its new Daxing airport to international flights and redirected them to the older Capital International Airport in the northeast of the city, in order to contain any new infections in one facility. On Tuesday, Shanghai extended existing quarantine measures to travelers who have recently visited the United Kingdom, Switzerland, Sweden, Belgium, Norway, the Netherlands, Denmark and Austria.China’s eastern Shandong province and southwestern Chongqing city will require all overseas arrivals to be quarantined in designated locations or residences for 14 days, the official Xinhua news agency said on Tuesday.

In the central city of Wuhan officials said they would begin requiring overseas arrivals to undergo 14-day quarantine at a central location at the people’s own cost, emulating Beijing. Wuhan, a transport and industrial hub of 11 million people, is the epicenter of China’s outbreak and the origin of the pandemic that has now infected more than 100,000 people beyond China’s borders. Officials in the city initially tried to cover up the outbreak when it began late last year, but Beijing has lately sought to emphasize the positive role China has played in controlling the global spread of the disease.

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Amazon reported its first-quarter earnings on Thursday after the bell.Amazon’s sales grew faster than expected as more people shopped online amid COVID-19.But it missed on earnings as COVID-19-related costs across the supply chain increased.Amazon shares dropped about 5% in after-hours trading.Visit Business Insider’s homepage for more stories.To get more news about WikiFX, you can visit wikifx official website.
Amazon reported huge growth in first-quarter revenue but a miss on earnings on Thursday.The mixed results show how the coronavirus outbreak is leading to more shoppers on Amazon, albeit at an increased cost as the company is dealing with a number of costly changes, including supply chain lockdowns and warehouse safety upgrades.Amazon stock is down about 5% in after-hours trading.Here are the most important numbers:
Q1 EPS (GAAP): $5.01 versus expectations of $6.27 per shareQ1 Revenue: $75.5 billion versus expectations of 73.74 billionAmazon Web Services: $10.22 billions versus expectations of $10.29 billionAmazon CEO Jeff Bezos said in an unusually long statement that the epidemic is causing a lot of uncertainties, adding that the company expects to spend all of the $4 billion it’s projected to make in second-quarter profits on COVID-19-related expenses.
“If you’re a shareowner in Amazon, you may want to take a seat, because we’re not thinking small,” Bezos said in a statement. “Under normal circumstances, in this coming Q2, we’d expect to make some $4 billion or more in operating profit. But these aren’t normal circumstances. Instead, we expect to spend the entirety of that $4 billion, and perhaps a bit more, on COVID-related expenses getting products to customers and keeping employees safe.”Amazon clearly saw a massive demand surge as more people bought things online to avoid physical stores during the pandemic. The 26% revenue growth exceeds street estimates of 22%. Paid unit growth jumped 32%, up from last year’s 10% growth rate. Even its “Physical Stores” sales, which includes Whole Foods revenue, grew 8% from last year, an unusual spike for a segment that hovered around 1% growth in the past year.Meanwhile, costs increased as Amazon had to put additional safety measures and pay raises across its warehouses. Amazon is hiring 75,000 more warehouse and delivery drivers, after having added 100,000 new employees since March. Shipping costs also jumped 49% to $10.9 billion. Operating income dropped $400 million from last year to $4 billion for the quarter.Amazon’s cloud service continues to be a the company’s main profit-driver. It reported $3 billion in operating profit, accounting for 77% of Amazon’s total operating profit. Meanwhile, AWS crossed the $10 billion quarterly revenue mark for the first time, growing 33% from last year.
Despite concerns of the pandemic causing less spending on Amazon’s advertising service, the segment saw a 44% sales increase to $3.9 billion in the quarter, showing little impact on one of its fastest growing business segments.Amazon’s stock hit record highs earlier this month, and was up almost 30% year-to-date, far outpacing the broader market.

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After U.S. WTI crude oil futures plunged, not only did retail investors who bet on the rebound in oil prices feel “upset”, even ETF issuers were “surprised”. With regard to Samsung S&P GSCI Crude Oil ER Futures ETF (HKEX Stock code: 3175), an announcement was issued on Wednesday evening that the entirely of its holding of June 2020 contracts had been replaced by September 2020 contracts in the night market.To get more news about WikiFX, you can visit wikifx official website.
3175 claimed that its objective to track the “S&P GSCI Crude Oil Index Excess Return”, and the index also clearly stated that the next roll-over operation would be conducted on May 7-13, when the June 2020 contract tracked will be replaced by July 2020 contracts. 3175 suddenly changed its investment strategy with a high sounding reason that June 2020 contract may fall to zero or a negative value, “In the worst case scenario, the Net Asset Value of the Sub-Fund may drop to zero and investors may suffer a total lose of their investment in the Sub-Fund.”
In fact, as mentioned in previous articles of 3175, if the Net Asset Value of all Fund units is below 150 million Hong Kong dollars (page 36) or 40 million Hong Kong dollars (page 71), the Sub-Fund will be terminated, which means it will stop trading and go into liquidation. So even if June 2020 oil futures falls to a negative value, investors theoretically would not lose all. As long as it is clear that the market risk is borne by investors, ETF issuers dont need to take such a big risk of roll-overing in advance.
But why would Samsung roll-over? There are two reasons; First, the company doesnt want to suffer huge losses. Second, 3175 is the most important “cash cow” for issuer, who certainly do not want to stop trading.
Once the oil price falls to a negative value, the transaction of 3175 will be terminated. So how should the issuer deal with its crude oil futures? A few days earlier, when oil prices fell to a negative value, the decline could quickly make the oil price expand to -40 US dollars per barrel. Before the roll-over, 3175 held about 35,000 oil futures contracts, and each contract was equivalent to 1,000 barrels of crude oil. It the issuer forcibly closes the position at a price of -40 US dollars per barrel, the total loss of these futures contracts will reach about 1.4 billion US dollars (about 11 billion Hong Kong dollars). therefore, how many Galaxy mobile phones will Samsung have to sell to pay it off?
On the other hand, from the perspective of the issuer, 3175 has become the most famous speculative oil trading tool in Hong Kong stock market, with a turnover from about 300 million dollars per day in early March to 1.94 billion dollars recently. So the issuer who can make huge profits in the transaction hates the termination of 3175 transaction most.
Clients ask to buy Tencent (700), but the broker buys HSBC (005) and then makes a notice; investors want to bet on the rebound of June oil price, but 3175 roll-overs the June old futures replaced by September oil futures without timely notification. So far, the SFC and SEHK has said nothing about it. And ETF transaction continues, which seemed to be allowed. If the investment strategy written in black and white clearly can be changed without any regulatory consequences, how can the interests of investors be protected?

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