According to ancellanician china, summer zen
Singapore / Hong Kong (Reuters) – US President Donald Trump is in the past of recession, global investors have found an incredible new sanctuary. Chinese stocks.
Hong Kong Benchmark Hang Sang Send Index.
It compares about 9% drop in S & P 500, which also shed $ 4 trillion for market value from record highs last month.
Trump’s unparalleled statement of tariffs and federal government has challenged assumptions about the appeal of US shares, which have greatly exceeded most of their world partners since 2021.
The investors were taken to “Tina”. There is no alternative to US assets.
Most of the Chinese rally were headed by technological shares, which have so far increased by 29%, hitting their highest level over a week less than three years. How did the bulls of the new Chinese stocks say Won said that he sees the opportunities of technology, defense and consumer games?
The main reason for optimism. Chinese shares are cheap, in 2021, 30% trade. Hang Seng Index is the price 7 times its predicted 12-month earnings. Usually used for the value of the meter value of the meter, compared to the S & P 500, according to LSEG data.
To be sure that Chinese shares are sold for important reasons. Many investors have been burnt on technological shares and questions after the Government of the Epidemic-Age, which remain on the property market and the economy. Concerns about the focus of the government in the White House are growing in Beijing, where President Sy Jin Azsin has no serious political opposition.
But investors see a very disorderly disorder of the Debut of the AI ​​Startup Deepseek’s R1 R1 R1 after a large rally of technological shares. The prospect of tax stimulants that can increase consumption. A long pull for the Chinese economy – another tail.
Although new global interest in Chinese shares is represented at US shares, investors are also coming out of South Korean and India’s struggle markets, reports Reuters with more than a dozen fund leaders and strategists.
JP Morgan saw a record amount of US dollar and Chinese yuan, which turned into the last few weeks from Hong Kong to the Hong Kong Street, said the head of the “Firm Credit”, the sale of the currency and developing market. He did not specify the amount or period.
Leo Gao said that he sold all American companies in his portfolio in early February immediately after a deep deep depth.
In March, the Largest Portfolio manager in one of Asia’s largest exhibition funds, which is now especially luxurious on China’s technology companies and other companies that serve consumer habits.
Going to China
On weekends, Trump refused to exclude the prospects of the fall in the world to escape the world’s fear. Investors have reacted negatively to the instability of decision-making in the White House, which delivered delays on Canada and Mexico at the last minute.
Slowing economic data causes additional doubts whether the US growth can exceed the rest of the rich world in a much longer. US stock estimates are high in the sky and are subject to a hint of difficulty.
Trump has been reduced to the market so far, and has repeatedly said that “tariffs are going to get rich in our country.”
Meanwhile, China promotes stimulus and support for its economy and markets. In February, Beijing met between XI and business leaders who were widely signaled as a positive signal.
“China is now an adult in the room,” says Dong Chen, at Pictet Weader Management.
Foreign funds have invested $ 3.8 billion in Chinese shares in February, after leaving three days, the data of Morgan Stanley showed.
Key Asset Management Chief CEO Kamal Batia said long-term investors such as predictability.
“Even many complex investors do not want to change their investment thesis in three years,” he said.
Some investors have mentioned the irony of the rally in the markets of Europe and China, which wins as geopolitical rivals.
“The note that Trump’s administration puts external governments … In fact, in many cases there is a result of patentability from those countries,” said Ros Mafild.
Future fiscal arms in Europe, after suspecting the Trump, the prices of defense companies in the region also contributed to the readiness to protect NATO allies. European shares have long-lasting clashes, which include higher corporate tax rates, slow economic growth and lack of basic technology companies.
“Because investors adapt to the narrative change, the capital will be used to previously crowded winners,” said the paintings.
Structural or short-term.
Next to the concerns about the standards of Chinese corporate reports, the pressure of the quotation and the new trade war weighs us.
Shares in September, which after Beijing, revealed stimulus, but the rally rapidly surprised.
“Still people have a traumatic experience with Chinese shares,” said the picture. “China has previously called indestructible, so the type of deflation is not yet completely destroyed.”
Batia said that his customers ask more tactical allocations, investment strategy, which aims to avoid short-term trends and economic changes.
“The past ten days have become very clear that he pays a regional diversified strategy,” said Lilian Haghag, head of the DWS senior portfoli.
(In Hong Kong in Hong Kong, he reports about Ankar Banzje and Tom Westbruk, who is in Liun Kong, Likin, Likin, Likin.
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