China s fastest growing city wants to be the next Silicon Valley — local systems may get in the way msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
(March 6): China’s most-shunned sector is getting a rare moment in the sun as investors seek shelter from a rout in the market’s darlings.
The CSI 300 Banks Index has climbed 12% this year and is trading near the highest since 2007 even as price-to-book valuations remain at just over half of its 14-year average. Liquor maker Kweichow Moutai Co., a favorite among investors, is down 21% from a February peak, with 30-day volatility at a two-year high.
Appetite for Chinese bank stocks, long regarded as perennial laggards, is growing as investors hunt for cheaper parts of the market to escape lofty valuations in growth shares spurred by liquidity-fueled gains this year. That also comes as investors recast expectations for the year amid a surge in U.S. sovereign bonds that’s sent global bank shares higher.
China Traders Await Policy Signals to Boost Faltering Stocks
Bloomberg 3/3/2021
China’s defense and technology sectors may offer investor opportunities as the nation’s top political meeting starts this week, which could help inject fresh impetus into the country’s equities.
Measures to help achieve President Xi Jinping’s pledge of a carbon neutral economy by 2060 could be released at the meeting which begins Friday, according to brokerages including Guotai Junan Securities Co. Plans for an expanded defense budget are also likely to be published at the National People’s Congress, Tianfeng Securities Co. analysts said.
Also topping analysts’ watch lists are policies to drive China’s economic growth in the post-pandemic era. Approval of a five-year plan, which includes strategies to cut dependence on the West for crucial components like computer chips and make bets on emerging technologies such as hydrogen vehicles, is expected. Beijing has repeatedly signaled a des