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Investors at six large asset managers - Pictet, BNP Paribas Asset Management, Janus Henderson, J.P. Morgan Asset Management, Invesco and RBC - told Reuters they have neither reduced nor added to their China weighting following recent measures to support the economy. "While the overall picture is grim, bearishness around Chinese equities may have reached a local peak and we therefore are refraining from cutting our exposure," said Dong Chen, head of Asia macroeconomic research at Pictet Wealth Management. SEEKING ALTERNATIVESOthers have meanwhile sought out opportunities in markets outside of China, but that trend is showing signs of ebbing. "With attitudes towards China currently so weak, equities valuations could be quite sensitive to signs that corporate fundamentals are starting to improve." ($1 = 7.2910 Chinese yuan renminbi)Reporting by Summer Zhen in Hong Kong and Rae Wee in Singapore; Editing by Tom Westbrook and Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: Janus Henderson, J.P, Dong Chen, Chi Lo, haven't, Alex Redman, teetering, Jasmine Duan, Patrick Garvin, Summer Zhen, Rae Wee, Tom Westbrook Organizations: BNP, Asset Management, Morgan Asset Management, Invesco, RBC, Reuters, Pictet Wealth Management, HK, RBC Investment Services, Thomson Locations: China, HONG KONG, SINGAPORE, Asia, Shanghai, Pacific, India, Indonesia, Beijing, Hong Kong, Singapore

An electronic board shows Shanghai and Shenzhen stock indexes, at the Lujiazui financial district in Shanghai, China October 25, 2022. "While the overall picture is grim, bearishness around Chinese equities may have reached a local peak and we therefore are refraining from cutting our exposure," said Dong Chen, head of Asia macroeconomic research at Pictet Wealth Management. SEEKING ALTERNATIVESOthers have meanwhile sought out opportunities in markets outside of China, but that trend is showing signs of ebbing. "With attitudes towards China currently so weak, equities valuations could be quite sensitive to signs that corporate fundamentals are starting to improve." ($1 = 7.2910 Chinese yuan renminbi)Reporting by Summer Zhen in Hong Kong and Rae Wee in Singapore; Editing by Tom Westbrook and Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, Janus Henderson, J.P, Dong Chen, Chi Lo, haven't, Alex Redman, teetering, Jasmine Duan, Patrick Garvin, Summer Zhen, Rae Wee, Tom Westbrook Organizations: REUTERS, BNP, Asset Management, Morgan Asset Management, Invesco, RBC, Reuters, Pictet Wealth Management, HK, RBC Investment Services, Thomson Locations: Shanghai, Shenzhen, China, HONG KONG, SINGAPORE, Asia, Pacific, India, Indonesia, Beijing, Hong Kong, Singapore

☆ Japan stocks are roaring back. This rally may be different from the 1990's 'bubble high'
▼ + stars: | 2023-06-27 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +6 min

The bubble burst after the Bank of Japan tightened monetary policy at the start of 1990, triggering the collapse of equity and land prices. But analysts who spoke to CNBC said Japan is not headed for another crash like the one during the bubble. Furthermore, "current high inflation rates in Japan are due to higher import costs on the back of a weaker yen and high commodity prices. What led to Japan's bubble? Nikkei reported in March that share buybacks by Japanese companies was set to reach their highest level in 16 years.

Persons: Kazuhiro NOGI, KAZUHIRO NOGI, Nogi, Dong Chen, Ryota Abe, Abe, Japan's, Shinzo Abe, Chen, SMBC, Warren Buffet's Organizations: Nikkei, Getty, Afp, Bank of Japan, CNBC, Sumitomo Mitsui Banking Corporation, Tokyo Exchange, Billionaire, Global Locations: Tokyo, AFP, Japan, China

☆ Analysis: Investors shelve China assets before bigger stimulus
▼ + stars: | 2023-06-23 | by ( Summer Zhen | ) www.reuters.com time to read: +5 min

[1/2] A view of the city skyline, ahead of the annual National People's Congress (NPC), in Shanghai, China February 24, 2022. A global fund manager survey by BofA Securities showed shorting Chinese stocks was the second-most "crowded" trade in June, after going long on big tech. "I can't believe that there is anymore bad news to absorb," said Andy Maynard, head of equities at China Renaissance. Restoring confidence is looking increasingly like a long-term project and investors are positioning for a longer game and a slower rebound. "We are all looking for something a bit more decisive in helping to restore animal spirits, investor confidence and market confidence, and I think that hope may be still at risk of being disappointed."

Persons: Aly, Morgan Stanley, Hong, Dong Chen, Andy Maynard, Morgan, James Liu, Guan Yi, Summer Zhen, Jason Xue, Tom Westbrook, Jacqueline Wong Organizations: National People's Congress, REUTERS, BofA Securities, Pictet Wealth Management, China, Reuters, G Investments, Thomson Locations: Shanghai, China, HONG KONG, Beijing, Asia, Singapore, Hong Kong, Pacific

Hong Kong stocks such as Alibaba (9988.HK) and Tencent (0700.HK) are among the 24 stocks which will be priced and traded in both yuan and the Hong Kong dollar under the Dual Counter Model on the Hong Kong stock exchange (HKEX) from Monday. Offshore yuan deposits in Hong Kong alone are estimated at some 833 billion yuan ($117 billion). "Mainland investors, including mutual fund companies like us, have genuine incentives to trade Hong Kong stocks in yuan," said Ding of ChinaAMC. "There's lot of political uncertainty these days so you may want to hold yuan rather than U.S. dollars, or the Hong Kong dollar, which is pegged to the U.S. ($1 = 7.8217 Hong Kong dollars)Reporting by Samuel Shen and Georgina Lee; Editing by Vidya Ranganathan and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: Ding Wenjie, Ding, it's, Dong Chen, YUAN, Sun, Kai Properties, ChinaAMC, David Friedland, Samuel Shen, Georgina Lee, Vidya Ranganathan, Kim Coghill Organizations: HK, Hong Kong, Hong, China, Fund, U.S ., Global Capital Investment, China Asset Management, The U.S, Pictet Wealth Management, AIA, Hang Seng Bank Ltd, Interactive Brokers, Thomson Locations: SHANGHAI, HONG KONG, Hong, Hong Kong, China, Brazil, Russia, Beijing, Moscow, Ukraine, The, Pakistan, Asia, Asia Pacific

☆ There's a 'structural change' going on in Japan's business environment, analyst says
▼ + stars: | 2023-06-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere's a 'structural change' going on in Japan's business environment, analyst saysDong Chen of Pictet Wealth Management cites signs such as first-quarter gross domestic product numbers and improving domestic consumption.

Persons: Dong Chen Organizations: Pictet Wealth Management

☆ Dollar sluggish as Fed rate hike fears ebb; China reopening boosts optimism
▼ + stars: | 2023-01-10 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

The euro was last 0.07% higher at $1.0739, holding near the previous session's seven-month peak of $1.07605 that came on the back of the dollar's decline. Sterling slid 0.08% to $1.21705, after similarly hitting a three-week top of $1.2209 on Monday and ending the session 0.73% higher. Against a basket of currencies, the U.S. dollar index fell 0.03% to 103.14, after tumbling 0.7% and touching a seven-month low of 102.93 in the previous session. The offshore yuan last bought 6.7755 per dollar, after hitting a near five-month top of 6.7590 earlier in the session. Brazil's real snapped its three-day winning run in the previous session and last stood at 5.2546 per dollar after supporters of former President Jair Bolsonaro stormed the capital.

☆ Dollar languishes as Fed rate hike fears recede; China reopening boosts optimism
▼ + stars: | 2023-01-10 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

The dollar's decline pushed the euro to a seven-month peak of $1.07605 in the previous session. Sterling slipped 0.03% to $1.2177, after similarly hitting a three-week top of $1.2209 on Monday and ending the session 0.73% higher. Against a basket of currencies, the U.S. dollar index edged 0.04% higher to 103.21, after tumbling 0.7% and touching a seven-month low of 102.93 in the previous session. The offshore yuan last bought 6.7757 per dollar, and was edging towards the previous session's near five-month top of 6.7665 per dollar. "Hedge funds managers have turned slightly bearish USD following the full reopening in China," said Tareck Horchani, head of head of prime brokerage dealing at Maybank Securities.

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