China stock market

Letting the air out of the bubbles

Since China's stock market was created in 1992, its price-earnings multiple has fallen from about 100 times to 20 times. Photo: Reuters

Despite the familiar refrain from analysts these last few years, China's real estate and credit bubbles have not burst. While I, too, am worried, I have not been brave enough to venture a prediction until now: I think the bubble will gradually deflate over a decade or two, rather than burst dramatically.

Thursday, 3 April, 2014, 1:00am 8 comments

Why further rally in Chinese stocks is unlikely

Shares of China Minsheng Bank, among the hardest hit by the June cash crunch, have rebounded nearly 30 per cent in Hong Kong. Photo: Reuters

In early July, long-depressed Chinese stocks stepped into the unlikely role of stars among emerging markets. But the outperformance has ended, and it’s very unlikely investors will see a repeat any time soon.

30 Sep 2013 - 3:20pm

Now is the right time to step into the share market

Time to take a bullish view on mainland stocks while other investors wait on the sidelines for the opportunity to arise. Photo: AFP

Most investment topics are fairly mundane affairs that might only cause eyebrows to furrow, as in "I wonder if I could make any money investing in Vietnam" or "How can I put some more money to work in emerging markets?" or "I wonder how the US market will do this year". But not the mainland.

17 Jun 2013 - 5:17am 1 comment

Don't miss market chance, says fund

Don't miss market chance, says fund

The mainland stock market is likely to outperform other emerging markets this year and investors should pick up shares rather than quit this market now, says asset manager State Street Global Advisors.

30 May 2013 - 4:33am

Why it's worth anticipating the next great bull market in China stocks

Why it's worth anticipating the next great bull market in China stocks

It might sound counter-intuitive, but international investors are getting increasingly excited about the performance prospects of China's onshore stock markets.

25 Apr 2013 - 5:29am

Reversal of fortunes

The mainland's stock market is in a slump that has made it the worst performer in Asia over the last three years. Photo: Reuters

Shen Wei, one of the first 600 investment bankers authorised to sign off on initial public offerings on the mainland, said the licence that made him one of the "golden collared" had lost its magic.

9 Apr 2013 - 4:42am

Shanghai stocks swing as Xiao Gang takes over top CSRC job

Millions of investors have regarded former CSRC chief Guo Shuqing as a white knight after he implemented reforms that rescued them from heavy losses. Photo: AP

Mainland equity investors initially appeared unimpressed with the appointment of Xiao Gang as the chairman of the China Securities Regulatory Commission. When he took office on Monday, the Shanghai market fell 1.68 per cent. But the market rebounded 0.78 per cent and 2.66 per cent in the next two days.

21 Mar 2013 - 5:34am

Uneven economic recovery dashes hopes for big rally in mainland China stocks

The mainland's stock market was among the world's worst performers last year, with the Shanghai Composite Index gaining a mere 3.17 per cent. Photo: AP

The performance of mainland stocks was expected to improve with the economic recovery, but a strong rally could be ruled out, said Yu Gesheng, a vice-chairman of the National Council for Social Security Fund, which has 890 billion yuan (HK$1.1 trillion) of assets under management.

13 Mar 2013 - 5:45am

CSRC chief assures fair deal for Hong Kong investors

Guo Shuqing. Photo: Simon Song

China Securities Regulatory Commission chief Guo Shuqing said residents of Hong Kong, Taiwan or Macau living on the mainland will enjoy equal treatment to mainlanders when they invest in the A-share market.

11 Mar 2013 - 4:29am

Physical ETFs trailing their synthetic peers

Physical ETFs trailing their synthetic peers

Physically backed A-share exchange-traded funds were the biggest innovation in the local funds market last year. The fund improved access to mainland-listed stocks. In particular, providers said they were cheaper and safer than synthetic A-share ETFs, which use derivatives.

11 Mar 2013 - 4:34am

IPO resumption talk stops rally in China stocks

IPO resumption talk stops rally in China stocks

Yao Gang, a vice-chairman of the China Securities Regulatory Commission, said the regulator was seeking to simplify its vetting process and it encouraged listed companies and major shareholders to provide information to investors by adopting a disclosure-based approach.


8 Mar 2013 - 7:07am

Mainland stocks still look attractive

Mainland stocks are still attractive to investors. Photo: AP

The mainland's A shares are still among the most attractive in Asia-Pacific even after a strong rebound over the past three months, given their low valuations and big re-rating potential following key political conferences next month, according to Allianz Global Investors.

21 Feb 2013 - 6:07am

Mainland markets set for strong start to new year

Mainland markets set for strong start to new year

Backed by signs of a solid economic recovery, stocks in the financial, infrastructure and agricultural sectors are likely to outperform the market ahead of the annual meetings of the legislature and the top advisory body next month, analysts said.

18 Feb 2013 - 3:28am

Shanghai stocks rise to 6-month high on news of reform

The Shanghai Composite Index rose 3.06 per cent to 2,311.74 points, the highest close since June last year. Photo: Xinhua

Mainland stocks rose to a six-month high yesterday after the market regulator said it would lift the quota for overseas investors investing in A shares by 10 times.

The Shanghai Composite Index rose 3.06 per cent to 2,311.74 points, the highest close since June last year. In Hong Kong, the H-share index gained 1.36 per cent.

15 Jan 2013 - 4:15am

Futures broker expected to mark restart of mainland IPO market

Guo Shuqing. Photo: Simon Song

Beijing will give priority to the first share listing application from a home-grown futures brokerage when it reopens the initial public offering market, in a further sign of the regulators' determination to bolster the market.

14 Jan 2013 - 7:20am