Global EditionASIA 中文雙語Fran?ais
    Business
    Home / Business / Right Track

    Bullish trend expected for A-share market

    By Shi Jing in Shanghai | China Daily | Updated: 2020-01-09 06:54
    Share
    Share - WeChat
    An investor checks the electronic board at a stock exchange in Shanghai. [Photo/VCG]

    Fund managers optimistic on increased participation by international investors 

    China's A-share market is expected to generate higher-than-expected profits and see increased participation from foreign investors this year, as economic growth stabilizes in the country through further restructuring, experts said on Wednesday.

    The world's largest mutual funds provider Vanguard expects returns from the A-share market to be between 7.5 percent and 9.5 percent in the next decade, outshining all the other markets in the world.

    Wang Qian, chief economist for Vanguard Asia-Pacific, said that China's economic development will be more stable in the next few years as the problem of overcapacity has been properly addressed and more supportive macroeconomic policies are in place.

    Lynda Zhou, chief investment officer in China for equities at Fidelity International, said the fund manager had an optimistic outlook on this year's A-share market performance.

    Over the past few years, China has been through economic restructuring featured by deleveraging and cutting overcapacity. As a result, the country's annual GDP growth rate has been adjusted from the past double-digit figures to the current 5 percent to 6 percent. Such changes have exerted some negative impact on the stock market, she said.

    "But as the more moderate GDP growth has become a new normal, the negative impact incurred by macroeconomic ups and downs on the A-share market will gradually subside in the next five to 10 years. A more stable A-share market will be conducive to higher-than-expected profits," she said.

    Fidelity estimates that foreign capital in excess of 300 billion yuan ($43 billion) flowed into the A-share market in 2019, accounting for nearly 7 percent of the total market value of the A-share market. That number is equal to the positions held by mutual funds last year.

    The number of breakthroughs and reforms in the Chinese capital market last year, including the launch of the technology-focused STAR market in Shanghai, the introduction of registration-based initial public offering mechanism, and the revised securities law announced at the end of last year, will enable a mature, sustained development of the A-share market, said Zhou. Foreign capital will continue to flow, helping to adjust the valuation system of the A-share market, she said.

    Cheng Hao, a fund manager at Fidelity China, said that apart from rate bonds, overseas investors have started to invest in debentures. Compared to the coupon in other markets, the rate bonds and debentures will continue to be attractive to foreign investors.

    Ethan Wang, head of investment strategy for wealth management at Standard Chartered China, said that there will be more fiscal stimulus than favorable currency policies in China in the next few years. The fiscal incentives will be translated into investment opportunities. High-end manufacturing, technology and consumption will be the sectors that will see the most supportive policies, as China's economic development is being increasingly driven by domestic demand.

    Therefore, the A-share market will be the main investment target for Standard Chartered in its Asia strategy for the next six to 12 months, said Wang.

    Top
    BACK TO THE TOP
    English
    Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
    License for publishing multimedia online 0108263

    Registration Number: 130349
    FOLLOW US
    CLOSE
     
    国产综合无码一区二区辣椒| 香蕉伊蕉伊中文视频在线| 日本阿v网站在线观看中文 | 中文字幕一区图| 无码欧精品亚洲日韩一区夜夜嗨| 亚洲精品无码MV在线观看| 久久久久综合中文字幕| 在线看中文福利影院| 成人毛片无码一区二区三区| 无码国内精品久久人妻蜜桃| 国产丝袜无码一区二区三区视频| 久久精品中文字幕第23页 | 亚洲精品人成无码中文毛片| 亚洲AV中文无码乱人伦在线观看| 丰满白嫩人妻中出无码| 无码人妻丰满熟妇区五十路百度| 老子午夜精品无码| 一级片无码中文字幕乱伦 | 区三区激情福利综合中文字幕在线一区 | 亚洲激情中文字幕| 亚洲中文字幕无码一久久区| 亚洲成av人片在线观看天堂无码| 成人毛片无码一区二区三区| AV无码久久久久不卡蜜桃| yy111111少妇影院里无码| 久久久久久人妻无码| 欧洲精品久久久av无码电影| 无码专区久久综合久中文字幕| 亚洲中文字幕不卡无码| 伊人久久精品无码av一区| 国产成人亚洲综合无码| 亚洲av无码国产精品夜色午夜| 亚洲AV无码成人精品区蜜桃| 亚洲第一极品精品无码久久| 亚洲av无码片在线播放| 久久精品国产亚洲AV无码麻豆| 国产精品无码av在线播放| 刺激无码在线观看精品视频| 亚洲AV无码一区二区三区在线观看| 亚洲爆乳无码精品AAA片蜜桃| a中文字幕1区|