精选观点 & Webinar
China economy recovered faster than the rest of the world from the pandemic as shown by various economic indicators ranging from official PMI, GDP number, steel output, excavator sales, to traffic data. China’s solid macro recovery stands out from the rest of the major economies which either remain in a lock-down mode or simply begin to resume economic activities. That explains Chinese listed companies outperformed in terms of earnings and stock price performance.
Sep 10, 2020
An overdue technical rebound in the US Dollar – which started a week ago – may give investors an opportunity to diversify their currency holdings away from the Greenback. What is emerging could well turn out to be a counter-trend rally in a bigger, multi-year Dollar decline.
Sep 09, 2020
在经历今年首季度的急剧抛售后，全球股市在近几个月表现亮眼。这个反弹看似是典型的非理性“大爆发”，因为全球主要经济体正在或即将进入衰退期，且全球新冠肺炎疫情仍未见缓和之势；然而，从另一方面而言，这具前瞻性的市场走势，可能反映出投资者已走出疫情阴霾，整装以待争相捕捉股市V型反弹所带来的投资机遇。 中国A股市场既拥有稳健的基本面，又具相当吸引人的估值。因应全球股市下跌，投资者可考虑稳步增持中国A股。本篇文章中，我们将简述当前市场动态与如何精准捕捉中国A股反弹的增长机会。
Sep 04, 2020
CSI 300 outperforms S&P 500, Chinese tech outruns Nasdaq 100. How has China’s new economy sectors including its recently launched “Nasdaq” – the STAR board (Shanghai Stock Exchange’s Science and Technology Innovation Board) – outperformed global indices despite being at the center of a trade-tech war with the United States?
Sep 01, 2020
Highest recorded yield spread between the China 10Y Government Bond and the 10Y UST. The yield spread between the China 10-year government bond over the 10-year US Treasury recently hit its widest ever recorded level.
Aug 25, 2020
In the midst of a US tech bubble, Chinese and Hong Kong equities have emerged in the sweet spot between valuations, profitability and balance sheet strength.
Aug 18, 2020
Are US indices rallying because of COVID-19? The most common narrative is that “US stocks have been rising despite the pandemic.” Perhaps a more accurate explanation is “US stocks have been rising because of the pandemic”.
Aug 12, 2020
After the fall in Q1, global equities recovered sharply in Q2 as the COVID fear eases and stimulus packages kick in around the world. YTD, China is the best performing emerging market, and the broad CSI 300 index gained 14% in the second quarter. From factor investing perspective, we continue to see the dispersion of a two-speed-economy despite an overall beta pick up. Quality growth new economy stocks continue to be the winner.
Aug 11, 2020
Back to the future. Clues to US policy makers’ long game for the Dollar can be found in the long-term historical relationship between money supply growth, the inflation rate, and nominal GDP growth. Conclusion upfront: We are likely to see a long cycle of aggressive US monetary expansion ahead – to depreciate the Dollar, revive inflation, and boost nominal GDP growth.
Aug 03, 2020
Premia 图说
朱荣熙
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
