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Will stock picking managers help deliver US$85 billion to China’s A-share market?

As global indices compiler MSCI increases the weightage of Chinese A shares in its gauges, it remains to be seen if stock picking managers, who last month pulled record levels of capital out of China’s domestic stock market through the stock connects, will bolster their positions and increase there exposure.Investment banks have forecast that as much as 80 per cent of a potential US$70-$85 billion in net inflows into A shares this year, on the back of the increase in MSCI weightage, could come… Source link

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Here are top stock picks by China’s fund managers in the world’s best-performing market

Chinese consumer companies are back on fund managers’ list of most favoured stocks, as they increased their holdings of the sector more than any other industry at the start of the bull market.Money managers of China-domiciled mutual funds bought the likes of liquor distiller Wuliangye Yibin and pig breeder Wens Foodstuffs Group in the first quarter, boosting their allocations to the sector by 3.5 per cent to 14.3 per cent in the first quarter, according to data compiled by Zhongtai Securities… Source link

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Hong Kong’s MPF managers lobby for access to Shanghai and Shenzhen stocks to avoid missing out on the world’s biggest bull run

Fund managers have urged Hong Kong’s pension regulator to include the Shanghai and Shenzhen stock markets in its list of approved exchanges so as to allow the Mandatory Provident Fund (MPF) to invest more of its HK$813 billion (US$103.6 billion) assets in mainland-listed companies.The MPF is a compulsory retirement scheme in Hong Kong covering 2.9 million people. An employer and an employee each contribute 5 per cent of the monthly income up to a combined HK$3,000 minimum mandatory contribution… Source link

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US investors maintain their steady push into Chinese equities as fund managers see value and opportunity

Between the parry and thrust of the US-China trade talks, uncertainty over economic growth rates, US interest rate policy and China’s credit reform programme, it appears US investors, more so than their global peers, have put increasing amounts of cash to work in China region equity funds.And while they have been rewarded by share prices rallying to one-year peaks, several US fund managers who invest in Asia, and China more specifically, note that there is still a reluctance to put more money… Source link

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Ecommerce 

JD.com to fire underperforming senior managers as China’s tech lay-offs extend to executive suite

China’s winter chill has reached the executive suite, with the country’s second largest e-commerce player confirming reports that it will fire under performing senior executives after several Chinese tech companies have moved to cut rank and file staff in recent weeks amid the slowing economy.JD.com said it plans to lay off 10 per cent of its management at vice president level and above in 2019, using the “rank and yank” approach which forces department heads to identify and fire their least… Source link

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Investment 

Hong Kong-listed stock broker Haitong International to hire 500 wealth managers as its bucks downturn

Haitong International Securities Group, the largest mainland-backed stockbroker in Hong Kong by net assets, plans to hire an additional 500 wealth managers and has bought a brand new 12,000 square feet office in Wong Chuk Hang as part of its expansion plans, according to a senior executive. Haitong, the first Chinese broker to get a licence to act as market maker on Nasdaq in October, has seen its wealth management business improve significantly in recent times, making it one of the few Chinese companies to keep hiring despite the market…

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Despite the emerging market stock rout, Europe has fund managers more concerned

Another week, another sign of the vulnerability of emerging market equities. On Tuesday, Asian technology stocks came under further strain in response to the sharp decline in the shares of Apple as investors become increasingly concerned that demand for the company’s iPhones has peaked. With the tech sector accounting for 27 per cent of the market capitalisation of the benchmark MSCI Emerging Markets Index, “tech-centric fear” in US stocks, as Bloomberg puts it, is giving investors another reason to remain bearish on developing economies. Yet, while emerging market shares have taken…

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More declines ahead for China’s stock market, according to money managers at HSBC, UBS and Citic

Policymakers in mainland China will need to do more to convince top money managers and strategists that a world-beating slump in the country’s stock market is over. The benchmark Shanghai Composite Index has rebounded by 4.7 per cent after falling to a four-year low last week, but HSBC Jintrust Fund Management forecast that Chinese stocks will witness consolidation in the best case scenario, and that an immediate turnaround in declines was unlikely. Hong Kong stocks wipe out all Monday’s gains as effect of Beijing policy pledges wears off “The revival…

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Money 

Wealth managers UBS and Julius Baer restrict travel to China after Singapore banker is detained

Two large global wealth managers have imposed restrictions on staff travel to China after a UBS Group AG employee was detained, underlining the challenges of capturing business in a country where fortunes are growing the fastest on the planet. UBS has asked some bankers not to travel to China after the incident, according to people with knowledge of the matter, who asked not to be identified because the measures aren’t public. Julius Baer also imposed a travel ban for its relationship managers to the country, another person said. Government clampdowns…

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Last bull abandons Chinese stocks as global fund managers turn from net buyers to sellers

Enough is enough and the last bull in China’s stock market has thrown in the towel. Foreign investors, who were net buyers of Chinese stocks every month except February since 2017, have been dumping the mainland’s yuan-denominated shares daily in October through the exchange links with Hong Kong. While local Chinese traders have shunned equities, sending the Shanghai Composite Index down by 21 per cent this year, overseas investors have maintained, until now, a strong interest, with global index compilers MSCI and FTSE Russell adding Chinese stocks to their benchmarks.…

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