Overseas money managers are more positive about Chinese stocks due to state support measures.

From South China Morning Post: 2024-04-03 01:39:42

Global fund managers are more positive about Chinese stocks as securities regulator takes measures to halt decline. Money managers in Asia and emerging markets seek opportunities in the Chinese stock market, while European investors are less bearish. US- and UK-based funds remain sceptical. Foreign investors snapped up yuan-denominated stocks for a second straight month in March after a record six-month outflow streak. Majority still wait for more evidence of improving fundamentals. Chinese manufacturing expanded last month, but economists warn of disappointing March data. Investors need to see earnings forecasts revised upward, more stimulus measures, and government efforts to resolve economic issues. Overseas investors welcome new CSRC chairman’s approach prioritizing shareholders’ returns. CSRC issued documents to revive investor confidence and improve quality of new listings. HSBC Qianhai recommends buying stocks with “quality growth” like green-energy and consumer electronics, while cautioning against AI bets without earnings support.



Read more at South China Morning Post: China stock market: overseas money managers turn more upbeat about Chinese stocks after state support measures, HSBC’s brokerage unit says