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Matthews Asia Fund Managers Balance China's Risk and Opportunity
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An employee in the warehouse of Cainiao Smart Logistics Network, the logistics affiliate of e-commerce giant Alibaba, in Wuxi, China's Jiangsu province in November, 2020.
HECTOR RETAMAL/AFP/Getty Images
China’s economic recovery has set it apart in the past year, sending Chinese stocks soaring, and drawing investors. But U.S. investors have had to grapple with increasing risks, including Beijing’s heightened scrutiny of its internet giants, as well as a flurry of U.S. executive orders aimed at restricting U.S. investment in some Chinese companies.
Questions about the state of U.S.-China relations as the Biden administration comes in and the fate of measures introduced in recent weeks raises questions of how U.S. investors should proceed, even as strategists and large investors advocate for China to be part of long-term portfolios.
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An employee in the warehouse of Cainiao Smart Logistics Network, the logistics affiliate of e-commerce giant Alibaba, in Wuxi, China's Jiangsu province in November, 2020.
HECTOR RETAMAL/AFP/Getty Images
China’s economic recovery has set it apart in the past year, sending Chinese stocks soaring, and drawing investors. But U.S. investors have had to grapple with increasing risks, including Beijing’s heightened scrutiny of its internet giants, as well as a flurry of U.S. executive orders aimed at restricting U.S. investment in some Chinese companies.
Questions about the state of U.S.-China relations as the Biden administration comes in and the fate of measures introduced in recent weeks raises questions of how U.S. investors should proceed, even as strategists and large investors advocate for China to be part of long-term portfolios.
Global Markets Lifted by Biden Stimulus Plan Hopes and Ratcheting Down of U.S.-China Tensions
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U.S. stock indexes gave up modest earlier gains to slide into the red in the final hour of trading on Thursday, to close slightly down on the day. Investors, economists, and political analysts were all looking ahead to an address by President-elect Joe Biden scheduled for Thursday evening, in which he is set to unveil his economic agenda and plans for further U.S. stimulus.
The Biden team’s initial proposal is reportedly in the $1 trillion to $2 trillion range. U.S. government bond yields continued to rise on Thursday. Also...
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U.S. stock indexes gave up modest earlier gains to slide into the red in the final hour of trading on Thursday, to close slightly down on the day. Investors, economists, and political analysts were all looking ahead to an address by President-elect Joe Biden scheduled for Thursday evening, in which he is set to unveil his economic agenda and plans for further U.S. stimulus.
The Biden team’s initial proposal is reportedly in the $1 trillion to $2 trillion range. U.S. government bond yields continued to rise on Thursday. Also...
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Space Stocks Are Rocketing Higher. What's Behind Their Big Moves.
VMware,
Pat Gelsinger, effective Feb. 15.
Since Swan took over in 2019, Intel has divested from non-core assets while making acquisitions that
strengthened its core business. But as
Barron’s notes, “Swan doesn’t have semiconductors in his DNA and is known as more of a software and finance executive than a man with deep technical expertise.”
Gelsinger, on the other hand, is
a prominent technical expert in the chip industry. He’s a trained engineer who has written a microprocessor programming book, holds several patents, helped create Wi-Fi technology and spent three decades at Intel earlier in his career.
“After careful consideration, the board concluded that now is the right time to make this leadership change to draw on Pat’s technology and engineering expertise during this critical period of transformation at Intel,” Intel chairman Omar Ishrak said in a statement.
VMware,
Pat Gelsinger, effective Feb. 15.
Since Swan took over in 2019, Intel has divested from non-core assets while making acquisitions that
strengthened its core business. But as
Barron’s notes, “Swan doesn’t have semiconductors in his DNA and is known as more of a software and finance executive than a man with deep technical expertise.”
Gelsinger, on the other hand, is
a prominent technical expert in the chip industry. He’s a trained engineer who has written a microprocessor programming book, holds several patents, helped create Wi-Fi technology and spent three decades at Intel earlier in his career.
“After careful consideration, the board concluded that now is the right time to make this leadership change to draw on Pat’s technology and engineering expertise during this critical period of transformation at Intel,” Intel chairman Omar Ishrak said in a statement.
Americans Won't Be Banned From Investing in Alibaba, Tencent and Baidu
Americans Wonât Be Banned From Investing in Alibaba, Tencent and Baidu
Nine other Chinese companies will be added to Pentagonâs Chinese military companies list
President-elect Joe Biden has sent signals that the U.S. will remain tough on China, from trade to technology. WSJâs Jonathan Cheng explains the new administrationâs policy approach and how China might respond. Photo: Lintao Zhang/Xinhua/Associated Press
By
Updated Jan. 13, 2021 5:32 pm ET
The U.S. government is expected to let Americans continue to invest in Chinese technology giants Alibaba Group Holding Ltd. , Tencent Holdings Ltd. and Baidu Inc., after weighing the firmsâ alleged ties to Chinaâs military against the potential economic impact of banning them.
Americans Wonât Be Banned From Investing in Alibaba, Tencent and Baidu
Nine other Chinese companies will be added to Pentagonâs Chinese military companies list
President-elect Joe Biden has sent signals that the U.S. will remain tough on China, from trade to technology. WSJâs Jonathan Cheng explains the new administrationâs policy approach and how China might respond. Photo: Lintao Zhang/Xinhua/Associated Press
By
Updated Jan. 13, 2021 5:32 pm ET
The U.S. government is expected to let Americans continue to invest in Chinese technology giants Alibaba Group Holding Ltd. , Tencent Holdings Ltd. and Baidu Inc., after weighing the firmsâ alleged ties to Chinaâs military against the potential economic impact of banning them.
China Issues New Rules In Response to U.S. Sanctions. What Could Come Next.
Agence France-Presse/Getty Images
China unveiled new rules on Saturday, pushing back against a spate of U.S. executive orders that have blacklisted Chinese companies and restricted their access to U.S. technologies. It’s the latest reminder for investors that U.S.-China tensions are here to stay.
China’s Ministry of Commerce unveiled an order Saturday for “counteracting unjustified extraterritorial application of foreign laws.” The rules establish a vague and open-ended regime aimed at dissuading the U.S. and other foreign governments from adopting unilateral sanctions or applying them against Chinese entities and individuals, Lester Ross, partner-in-charge of law firm WilmerHale’s Beijing office, told
Agence France-Presse/Getty Images
China unveiled new rules on Saturday, pushing back against a spate of U.S. executive orders that have blacklisted Chinese companies and restricted their access to U.S. technologies. It’s the latest reminder for investors that U.S.-China tensions are here to stay.
China’s Ministry of Commerce unveiled an order Saturday for “counteracting unjustified extraterritorial application of foreign laws.” The rules establish a vague and open-ended regime aimed at dissuading the U.S. and other foreign governments from adopting unilateral sanctions or applying them against Chinese entities and individuals, Lester Ross, partner-in-charge of law firm WilmerHale’s Beijing office, told
NYSE Reverses Course Again to Delist Chinese Telecoms. Why the Confusion May Continue.
The stock exchange’s reversal was the latest sign of confusion for investors and companies as they navigate a series of broad China-related executive orders.
Global Markets Rise Despite Turmoil in U.S. Capitol
Stocks Rise to Records as Tech Shares Recover
Investors look beyond U.S. political discord as Nasdaq advances after Wednesday decline
A congressional exercise in the peaceful transfer of power devolved into deadly chaos when a pro-Trump mob stormed the Capitol. Hours after the riots, Congress reconvened and certified President-elect Joe Biden’s victory. Photo: Lev Radin/Pacific Press via ZUMA Wire
By
Updated Jan. 7, 2021 4:40 pm ET
Political unrest in Washington didn’t dent the stock market’s ongoing rally Thursday, with shares of U.S. companies big and small closing at fresh records.
Investors largely looked past Wednesday afternoon’s violent clash between pro-Trump protesters and law enforcement in the Capitol building, instead focusing on what the shift of political power from Republicans to Democrats means for the market.
Stocks Rise to Records as Tech Shares Recover
Investors look beyond U.S. political discord as Nasdaq advances after Wednesday decline
A congressional exercise in the peaceful transfer of power devolved into deadly chaos when a pro-Trump mob stormed the Capitol. Hours after the riots, Congress reconvened and certified President-elect Joe Biden’s victory. Photo: Lev Radin/Pacific Press via ZUMA Wire
By
Updated Jan. 7, 2021 4:40 pm ET
Political unrest in Washington didn’t dent the stock market’s ongoing rally Thursday, with shares of U.S. companies big and small closing at fresh records.
Investors largely looked past Wednesday afternoon’s violent clash between pro-Trump protesters and law enforcement in the Capitol building, instead focusing on what the shift of political power from Republicans to Democrats means for the market.
Double Stock-Market Bubble Brings Toil and (Perhaps) Trouble
Jan. 3, 2021 10:00 am ET
It is easy to spot bubbles. Too easy: They seem to be almost everywhere, almost all the time. Worse still for those of us who try to spot excess, much of the stuff that was labeled frothy in recent years went on to make big money in 2020 for those who bought into it anyway.
The question for investors: Were the bubble calls just wrong? Or are we in a new era of wild speculation driven by cheap money that must inevitably come to an end?
I lean toward the latter. But the stunning performance of so many bubble stocks this past year shows that even if this turns out to be right eventually, there is plenty of scope to be horribly wrong in the meantime.
Jan. 3, 2021 10:00 am ET
It is easy to spot bubbles. Too easy: They seem to be almost everywhere, almost all the time. Worse still for those of us who try to spot excess, much of the stuff that was labeled frothy in recent years went on to make big money in 2020 for those who bought into it anyway.
The question for investors: Were the bubble calls just wrong? Or are we in a new era of wild speculation driven by cheap money that must inevitably come to an end?
I lean toward the latter. But the stunning performance of so many bubble stocks this past year shows that even if this turns out to be right eventually, there is plenty of scope to be horribly wrong in the meantime.
Hot Emerging Market Stocks Don't Come Cheap
By Craig Mellow
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NIO EP9
Courtesy of NIO
You think Tesla (ticker: TSLA) stock had a good year? Shares in Elon Musk’s electric-car dynamo jumped a mere 670% during 2020. Chinese competitor Nio (NIO) posted an 11-fold increase.
EVs aren’t the only sector where emerging market stars left U.S. names in the dust. Amazon.com’s (AMZN) 75% advance lagged Latin American e-commerce sensation MercadoLibre’s (MELI) 200%. Southeast Asian online marketplace Sea (SE) climbed fourfold. Chinese social-media power Tencent (700: Hong Kong) outperformed Facebook (FB) 50% to 30%. ...
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Emerging Markets Have Plenty of Hot Stocks. They Don’t Come Cheap.
By Craig Mellow
Order Reprints
NIO EP9
Courtesy of NIO
You think Tesla (ticker: TSLA) stock had a good year? Shares in Elon Musk’s electric-car dynamo jumped a mere 670% during 2020. Chinese competitor Nio (NIO) posted an 11-fold increase.
EVs aren’t the only sector where emerging market stars left U.S. names in the dust. Amazon.com’s (AMZN) 75% advance lagged Latin American e-commerce sensation MercadoLibre’s (MELI) 200%. Southeast Asian online marketplace Sea (SE) climbed fourfold. Chinese social-media power Tencent (700: Hong Kong) outperformed Facebook (FB) 50% to 30%. ...
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Emerging Markets Have Plenty of Hot Stocks. They Don’t Come Cheap.