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Chery Holding Group Co. has selected China International Capital Corp., GF Securities Co., and Huatai International Ltd. to assist with a potential IPO for its automotive unit in Hong Kong. The listing could occur as early as next year, with a target valuation exceeding 100 billion yuan ($14 billion).
Investors are increasingly favoring emerging market funds that exclude China, driven by concerns over geopolitical tensions and the perceived risks associated with the Chinese economy. This shift has led to a surge in "ex China" funds, which have attracted $10bn in net inflows this year, as clients seek greater exposure to markets like India and Taiwan. Political motivations, particularly among US investors, are influencing this trend, with some pension funds divesting from Chinese assets due to national security concerns.
Asian stocks are experiencing fluctuations as investors reassess expectations for rapid US Federal Reserve policy easing amid a strong US economy and rising fiscal deficit concerns post-presidential election. In China, a recent stock rally is gaining attention, with a government-linked think tank advocating for the issuance of 2 trillion yuan ($281 billion) in special bonds to establish a market stabilization fund.
Plugin vehicles in China achieved a record 53% market share in September, with over 1.1 million sales, marking a 51% year-over-year increase. BYD dominated the market, securing five of the top six spots in sales, while Tesla's Model Y remained a strong competitor. The overall market is projected to reach around 50% electrification by the end of the year, with significant growth in both BEVs and PHEVs.
Asia stocks are mostly rising following a Wall Street rally, with investors optimistic about lower interest rates as the U.S. Federal Reserve begins its easing cycle. The S&P 500 is up 24% year-to-date, while the "Magnificent Seven" tech stocks have seen significant gains. As the U.S. election approaches, Bank of America notes that political outcomes could impact specific market sectors, emphasizing the importance of stock selection over index investing. Meanwhile, crude oil prices have risen amid geopolitical tensions, despite a bearish supply-and-demand outlook. The IMF has lowered its global inflation projection, indicating a shift in focus for policymakers towards economic growth challenges.
China's recent economic policy measures are aimed more at risk mitigation than broad stimulus, according to JPMorgan's chief China economist, Haibin Zhu. He emphasized that these actions do not signify a transformative moment for the economy, contrasting them with the substantial 4 trillion yuan stimulus package from 2008.
A. O. Smith Corporation, a leader in water heating solutions, designs and manufactures a range of products including electric, solar, and gas water heaters, as well as boilers for both residential and commercial use. With 21 production sites, primarily in North America, the company generates net sales predominantly from the United States (64.7%), followed by China (22%), Canada (9.1%), and other regions (4.2%).
22:00 22.10.2024
In September, gold surged 5.2% while crude oil fell 6.2%. US equity hedged strategies saw positive returns, driven by individual stock selection and a shift from defensives to cyclicals, with consumer discretionary leading. European and Asian equity strategies also performed well, particularly in China due to government stimulus, despite volatility in Japan.
20:22 22.10.2024
In September, gold surged 5.2% while crude oil fell 6.2%. US equity hedged strategies saw positive returns, driven by individual stock selection and a shift from defensives to cyclicals, with consumer discretionary leading. European and Asian equity strategies also performed well, particularly in China due to government stimulus, despite volatility in Japan.
20:22 22.10.2024
In September, gold surged 5.2% while crude oil fell 6.2%. US equity hedged strategies saw positive returns, driven by individual stock selection and a shift from defensives to cyclicals, with consumer discretionary leading. European and Asian equity strategies also performed well, particularly in China due to government stimulus, despite volatility in Japan.
20:21 22.10.2024
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