featured insights & webinar
As business activities in China mostly resume to a normal level, we also observed some mean-reversion in factor returns, and interesting rotation in sector returns. Still, China A shares continue to outperform the US and global equity markets. With “high-quality” growth emphasized by the 14th Five-Year Plan and “Dual Circulation”, we believe “Quality Growth” will continue to be the main tone of China A equities.
Nov 11, 2020
So, it is official: Exit Donald Trump, enter President Joe Biden. And when the cheering and crying is done, we are likely to see that the election meant more emotionally to Americans than it does economically for the nation, or financially for the markets. The big economic and market trends are unlikely to be changed by the election.
Nov 09, 2020
China’s 14th, Five-Year Plan is a refreshing reiteration of conventional supply side policies, at a time when Developed Markets are in the grip of very unorthodox economic policies.
Nov 04, 2020
The term "dual circulation” is one of the hot searches in China and receives great attention after President Xi first expressed this idea at a top official meeting held earlier this year. He then elaborated further that China’s economic model will be involving an internal circulation developing a substantial domestic market, and an external circulation deepening the international trade. The latest meeting of Communist Party’s Central Committee reinforced this policy will be the core component of the 14th five-year plan for the development between 2021 and 2025.
Nov 04, 2020
The latest economic data confirms the upward trajectory of Chinese growth, putting China on track to be the only major economy to register growth for the full year 2020. And it highlights the attractiveness of China’s asset markets and supports the case for continued outperformance against other major markets.
Oct 28, 2020
Two separate news items last week focused our attention on the gap in understanding about the rapidly changing energy landscape in China.
Oct 20, 2020
Yield curve steepening – which has been accelerating in recent weeks as the market contemplates a whopper of a stimulus package under a possible Biden White House – is likely to continue regardless of the winner on November 3.
Oct 14, 2020
Since COVID we have observed that many constituents in our Premia ETFs have been silver lining beneficiaries and continue rallying notwithstanding the market volatilities, unfolding COVID situation and US China tension. Here we share the conversation with our Co-CIO David Lai and team, on some frequent topics that come up often in our client conversations, especially around China new economy ETF (3173/ 9173 HK), which registered strong YTD return* of ~40% and have become the 4th largest A shares ETF in Hong Kong as consistent inflows since April tripled its AUM to ~US$285 million.Please click here for transcript to the disscussion.*as of October 12th 2020
Oct 14, 2020
The Chinese economy continues to normalize across the board at an impressive rate, leading to the strong likelihood of it beating the current Bloomberg consensus GDP estimate growth rate of around 2% for 2020.
Oct 06, 2020
BY TOPICS
Chart Of the Week
Alex Chu
Emerging ASEAN equities have underperformed compared to other emerging markets, but they have the potential to catch up due to improved US tariff rates, increased foreign investment, and more relaxed monetary policies. Vietnam was among the first to secure a trade deal with the US, establishing a reciprocal tariff of 20%. Since the announcement, Vietnamese equities have rallied, outperforming the emerging market index. Similarly, Indonesia and the Philippines have both secured 19% tariff deals in later stages, with Indonesia already showing market improvements and the Philippines expected to follow suit. Thailand is actively negotiating with US trade officials to reduce its current 36% tariff, with potential progress expected before the August 1 deadline. If other emerging ASEAN markets follow Vietnam’s lead, the overall equities index could recover the 17% year-to-date underperformance. Foreign investors are pouring into the region, with Vietnam experiencing a surge in inflows. Thailand’s equities market is also attracting foreign interest, driven by improved sentiment ahead of the central bank governor nomination, who supports more relaxed policies. Amid lower tariff uncertainties and a weaker USD, ASEAN central banks are focusing on growth risks, with room to lower interest rates to support the economy. Recently, Bank Indonesia surprising many economists with a 25 bps policy rate cut. With lower tariffs, returning foreign investors, and eased local policies, Emerging ASEAN equities could gain momentum. To capitalize on these shifts, investors can consider our Premia Dow Jones Emerging ASEAN Titans 100 ETF, offering strategic exposure to the region’s growth dynamics. Additionally, the ETF has announced a record dividend payout of USD 0.43, yielding 4.8%, reflecting consistent dividend improvements from the underlying and providing investors with extra protection.
Jul 28, 2025
