主題相關資訊: 疫情恢復
2023 will likely present investors with a stark economic divergence – between a West in recession and an East where growth will be boosted by recovery in China. ASEAN-5, which already enjoyed its own reopening rebound in 2022, will likely ride the tailwinds of China’s turn at a reopening recovery in the coming year. In this article, we would discuss how ASEAN-5 will likely continue to be in a sweet spot in 2023, offering some of the highest economic growth rates with relatively moderate inflation.
2022年12月11日
2023 will likely present investors with a stark economic divergence – between a West in recession and an East where growth will be boosted by recovery in China. ASEAN-5, which already enjoyed its own reopening rebound in 2022, will likely ride the tailwinds of China’s turn at a reopening recovery in the coming year. In this article, we would discuss how ASEAN-5 will likely continue to be in a sweet spot in 2023, offering some of the highest economic growth rates with relatively moderate inflation.
2022年12月11日
It was challenging for global investors to find a market that could offer a positive return in 2022. China market can’t escape from the selloff, with H-shares, A-shares and ADRs down by 20% to 29% in dollar return in the first eleven months of the year. The market turnover was shrinking whilst foreign investors were net selling. Internally, the frequent COVID-lockdowns, a property market slump, an ongoing Internet scrutiny, and the deteriorating bilateral relationship between China and the US all contributed to the bearish sentiment in Chinese equities. Externally, the Ukraine-Russia war, high inflationary pressure, an accelerated rate hike cycle, and strengthening dollar have further weakened investors’ confidence towards risky assets.
2022年12月5日
It was challenging for global investors to find a market that could offer a positive return in 2022. China market can’t escape from the selloff, with H-shares, A-shares and ADRs down by 20% to 29% in dollar return in the first eleven months of the year. The market turnover was shrinking whilst foreign investors were net selling. Internally, the frequent COVID-lockdowns, a property market slump, an ongoing Internet scrutiny, and the deteriorating bilateral relationship between China and the US all contributed to the bearish sentiment in Chinese equities. Externally, the Ukraine-Russia war, high inflationary pressure, an accelerated rate hike cycle, and strengthening dollar have further weakened investors’ confidence towards risky assets.
2022年12月5日
The US Federal Reserve has signalled the imminent start of the transition from the Great Stimulus of 2020-2021 to a period with new uncertainties. The Fed’s suggested pace of tapering quantitative easing was at the high end of expectations. In this article our Senior Advisor Say Boon Lim discusses his thoughts on what to expect regarding US inflation rate and 10Y UST yield, and why we need to brace for more challenging US equity and bond markets with lower return and higher risk coming up on the horizon.
2021年10月4日
The US Federal Reserve has signalled the imminent start of the transition from the Great Stimulus of 2020-2021 to a period with new uncertainties. The Fed’s suggested pace of tapering quantitative easing was at the high end of expectations. In this article our Senior Advisor Say Boon Lim discusses his thoughts on what to expect regarding US inflation rate and 10Y UST yield, and why we need to brace for more challenging US equity and bond markets with lower return and higher risk coming up on the horizon.
2021年10月4日
The upward momentum of US equities has slowed considerably over the past 16 months, from the explosive initial rebound in late March last year. Our sense is that we would either see small gains in coming months or indeed a correction in the face of the likely peaks in economic growth, earnings growth, and policy stimulus. In this article our Senior Advisor Say Boon Lim discusses why investors in US equities may have to lower their returns expectations for 2H21 in the face of what some are calling the “triple peaks”.
2021年8月17日
The upward momentum of US equities has slowed considerably over the past 16 months, from the explosive initial rebound in late March last year. Our sense is that we would either see small gains in coming months or indeed a correction in the face of the likely peaks in economic growth, earnings growth, and policy stimulus. In this article our Senior Advisor Say Boon Lim discusses why investors in US equities may have to lower their returns expectations for 2H21 in the face of what some are calling the “triple peaks”.
2021年8月17日
Recently we wrote about how investors can navigate “Mr. Market’s manic-depressive mood swings”, cautioning that those swings are likely to get shorter and more frequent. Indeed, Mr. Market may already be getting grumpy again. And it is not quite because things are going badly. It will more likely be because he has gotten ahead of himself in terms of expectations. In this article our Senior Advisor Say Boon Lim shared his thoughts on why a correction is due and it’s important to watch the divergences - as the high growth with low inflation narrative is wearing thin and the US economy may be losing its ability to surprise on the upside.
2021年7月21日
Recently we wrote about how investors can navigate “Mr. Market’s manic-depressive mood swings”, cautioning that those swings are likely to get shorter and more frequent. Indeed, Mr. Market may already be getting grumpy again. And it is not quite because things are going badly. It will more likely be because he has gotten ahead of himself in terms of expectations. In this article our Senior Advisor Say Boon Lim shared his thoughts on why a correction is due and it’s important to watch the divergences - as the high growth with low inflation narrative is wearing thin and the US economy may be losing its ability to surprise on the upside.
2021年7月21日
Navigating Mr. Market’s Mood Swings Warren Buffett – channeling his teacher Benjamin Graham – famously said: “Mr. Market is kind of a drunken psycho. Some days he gets very enthused, some days he gets very depressed.” In recent times, the market has looked a lot more like the “drunken psycho” of Warren Buffett’s characterisation than usual. In this article our Senior Advisor Say Boon Lim shares his thoughts on how we would navigate through the market swings under signals from rate movements and expectations, economic recovery, covid control and vaccination roll outs, and in the process, the divide between the “vaxed” and the “vaxed-nots”.
2021年7月14日
Navigating Mr. Market’s Mood Swings Warren Buffett – channeling his teacher Benjamin Graham – famously said: “Mr. Market is kind of a drunken psycho. Some days he gets very enthused, some days he gets very depressed.” In recent times, the market has looked a lot more like the “drunken psycho” of Warren Buffett’s characterisation than usual. In this article our Senior Advisor Say Boon Lim shares his thoughts on how we would navigate through the market swings under signals from rate movements and expectations, economic recovery, covid control and vaccination roll outs, and in the process, the divide between the “vaxed” and the “vaxed-nots”.
2021年7月14日
We recently completed the annual rebalancing exercise for the two China A shares and Asia Innovative Technology ETFs. In this article our Portfolio Manager Alex and Partner & Co-CIO David will share more about the changes and portfolio characteristics post-rebalancing, which further align with strategic focuses of China’s 14th Five Year Plan, and recalibrate for opportunities in the new normal as COVID recovery in China and Asia enters the next stage.
2021年6月23日
We recently completed the annual rebalancing exercise for the two China A shares and Asia Innovative Technology ETFs. In this article our Portfolio Manager Alex and Partner & Co-CIO David will share more about the changes and portfolio characteristics post-rebalancing, which further align with strategic focuses of China’s 14th Five Year Plan, and recalibrate for opportunities in the new normal as COVID recovery in China and Asia enters the next stage.
2021年6月23日