Samurai Summary: Top Tweets 31/08/2015

After initially thought that China would stop intervening in their markets more and more evidence is showing that they haven't. Many have come to the defence of these actions saying the Americans employed the same tactics to save their markets but we must not forget that drastic actions the Chinese are taking and the lack of any transparency makes these moves questionable.

SSE 50 Index of China's biggest companies rebounded 6.7% in last two hours of trading from low #stateinplay pic.twitter.com/F6arzmO7rW

— Richard Frost (@frostyhk) August 31, 2015

Good news story coming out of South Africa, Aspen Pharmacare has made the the Forbes 100 list of the Worlds Most Innovative Companies coming in at number 12. Led by Stephen Saad this once small pharmaceutical company has grown from strength to strength. On Friday the company released a voluntary statement stating it was expecting growth in earnings to be subdued which is evident in the price action we've seen in months gone by. However looking back could've said the same in 1996 giving it no chance at succeeding or even dreaming that one day this company would become one of the largest market cap JSE shares.

The world´s most innovative companies #10 Aspen Pharmacare Holdings https://t.co/YNjtLsmemU

— Maurice Ricotta (@MauriceRicotta) August 28, 2015

I touched on this on Friday when I spoke about the predicament Russia has been met with after starting conflict with Ukraine. This story over Ukraine falling short of payments that need to be made has been developing for some time and although I thought it could send jitters through markets it's been fairly well contained and with news that they have come to an agreement with creditors to restructure their debt comes as an added bonus. There are further hurdles to climb over though as it needs to restructure 3 billion euros worth of debt it has with Russia it's previous president made in 2012.

Ukraine’s debt-restructuring agreement with creditors will probably result in a credit rating downgrade http://t.co/cIX3bUgOLj

— Bloomberg Business (@business) August 31, 2015

 Michael Homen from Kaizen Asset Management posted this interesting stat about the percentage of exports as commodities by country. Not surprising to see that South Africa and Australia are tops with both their economy's taking a hard knock due to the global commodity slump. The reliance on China as the big buyer has hit a snag as the world's second largest economy struggles to kick start growth again with figures sitting at under 7% from where it once stood at 12%.

Percentage of commodity based exports: South Africa 86% Australia 86% Chile 92% Indonesia 71% Brazil 45%

— Michael Homem (@MichaelHomem) August 31, 2015