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☆ Chinese consumer stocks to buy even if the overall market rally fades
▼ + stars: | 2024-05-12 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

It's now focused on finding industry leaders with high free cash flow. Hong Kong-based AlphaHill Capital is looking specifically for Chinese consumer names with free cash flow growth, said Siliang Jiang, the firm's partner and portfolio manager. Jiang expects the Chinese consumer will start to turn around in the second half of this year or next year. China's "Consumer Confidence Index (CCI) edged up in the past 9 months, despite falling property prices and fears of 'household balance sheet recession '. Two of their picks based on positive free cash flow are Li Auto and New Oriental Education .

Persons: Ding Wenjie, Ding, It's, Siliang Jiang, Jiang, Li, Liqian Ren, Ren, — CNBC's Michael Bloom Organizations: Citi, China Asset Management Co, CNBC, Investors, China Merchants Securities, Baidu, Bank of America, Li Auto, New Oriental, Speed Railway, WisdomTree, Reuters Locations: China, India, Hong Kong, Tencent, Beijing, Shanghai, Shanghai . State

☆ China's Q2 GDP seen rising 7.3% y/y but on low base, recovery fades: Reuters poll
▼ + stars: | 2023-07-13 | by ( Kevin Yao | ) www.reuters.com time to read: +4 min

Economic growth is likely to slow to 4.8% in the third quarter and 5.3% in the fourth, with full-year growth expected to reach 5.5%, the poll showed. China's central bank on Monday extended until the end of 2024 some policies which were unveiled in a November rescue package to shore up the real estate sector, including loan repayment extensions for developers. Analysts polled by Reuters expect the central bank to cut banks' reserve requirement ratio (RRR) by 25 basis points in the third quarter, while keeping benchmark lending rates steady. The central bank cut the RRR - the amount of cash that banks must hold as reserves - in March. But the central bank is likely to be wary of cutting lending rates further.

Persons: it's, Zhang Yiping, Li Qiang, Devayani Sathyan, Susobhan Sarkar, Jing Wang, Kevin Yao, Kim Coghill Organizations: Beijing, Reuters, Gross, China Merchants Securities, stoke, Thomson Locations: China, BEIJING, Bengaluru, Shanghai

☆ Chinese AI startup Fourth Paradigm receives China's nod for Hong Kong IPO
▼ + stars: | 2023-07-05 | by ( Kane Wu | ) www.reuters.com time to read: +2 min

HONG KONG, July 5 (Reuters) - Beijing Fourth Paradigm Technology, an AI startup, has completed procedural work for a Hong Kong initial public offering, becoming only one of a handful of companies to get the nod from China's securities regulator since new rules became effective this year. The company has successfully completed the offshore listing filing process，according a July 3 filing on the China Securities Regulatory Commission (CSRC) website. Fourth Paradigm and one other company got the CSRC greenlight on July 3, adding to two other firms this year. Fourth Paradigm, also known as 4Paradigm, filed its fourth IPO application to the Hong Kong Stock Exchange in April. Fourth Paradigm counts Goldman Sachs (GS.N), Sinovation, Haitong International Investment and a number of state-backed funds as investors, the CSRC filing showed.

Persons: Goldman Sachs, Kane Wu, Edwina Gibbs Organizations: Paradigm Technology, Hong, China Securities Regulatory Commission, Hong Kong Stock Exchange, Commerce Department, International Investment, China International Capital Corp, CCB International, China Merchants Securities, Thomson Locations: HONG KONG, Beijing, Hong Kong

Most economists expect another modest 10 bps LPR cut in the second half - on top of a 25 bps cut in banks' requirement ratio (RRR). The PROC last cut the RRR - the amount of cash that banks must hold as reserves -- in March, by 25 bps. Each 5 basis points LPR cut could reduce pre-tax profits of major banks by as much as 1.8%, China Merchants Securities said in a report. "A small rate cut is a useful painkiller for symptoms but cannot alleviate the real problem," said Gary Ng, Asia Pacific senior economist of Natixis. On Friday, China's cabinet discussed policy measures to support the economy.

Persons: COVID, NIM, Wang Yifeng, Wang, Gary Ng, China's, Zhang Ming, Zhang, Morgan Stanley, Kevin Yao, Ziyi Tang, Kripa Jayaram, Sumeet Chatterjee Organizations: People's Bank of China, Reuters, Everbright Securities, China Merchants Securities, Asia Pacific, stoke, Chinese Academy of Social Sciences, Thomson Locations: China, BEIJING, Beijing, Asia

☆ Chinese regulators warn four analysts over Feb 2022 strategy report
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +2 min

The research report, published in February 2022 when China was battling the pandemic, predicted that the domestic stock market would still seek bottom following a rebound, as the economy was under heavy downward pressure. Negative comments by analysts and commentators in China are often censored and have come under increased regulatory scrutiny. The warning comes as China's stock market is struggling to stand on its feet amid signs the post-COVID recovery is losing steam. Other analysts and commentators in China have been censored or come under scrutiny after negative comments in the past. Separately, China's securities watchdog last March launched a crackdown on brokerages using feng shui to predict stock market trends in their research notes, state media reported.

Persons: CSRC, Zhang Xia, Chen Gang, Geng Ruitan, Tu, Yi Huiman, Hong Hao Organizations: China Merchants Securities, China Securities Regulatory Commission, Bank of Communications International Holdings Co, Shanghai, Thomson Locations: SHANGHAI, China, Shenzhen

☆ China's first-quarter GDP growth seen rebounding to 4.0%, 2023 rate seen at 5.4% - Reuters poll
▼ + stars: | 2023-04-14 | by ( Kevin Yao | ) www.reuters.com time to read: +4 min

That would be the fastest growth since the first quarter of last year. The government has set a modest target for economic growth of around 5% for this year, after badly missing the 2022 goal. The government is due to release first quarter GDP data, along with March activity data, at 0200 GMT on April 18. On a quarterly basis, the economy is forecast to grow 2.2% in January-March, compared with no change in October-December, the poll showed. “We need to maintain the stability and continuity of macro policies to consolidate the economic recovery,” said Wen Bin, chief economist at China Minsheng Bank.

☆ China's Q1 GDP growth seen rebounding to 4.0%, 2023 rate seen at 5.4%: Reuters poll
▼ + stars: | 2023-04-14 | by ( Kevin Yao | ) www.reuters.com time to read: +4 min

That would be the fastest growth since the first quarter of last year. For 2023, growth was expected to pick up to 5.4%, the poll showed, from 3.0% last year - one of its worst performances in nearly half a century due to strict COVID-19 curbs. The government has set a modest target for economic growth of around 5% for this year, after badly missing the 2022 goal. The government is due to release first quarter GDP data, along with March activity data, at 0200 GMT on April 18. Consumer inflation will likely quicken to 2.3% in 2023 from 2.0% in 2022, before steadying in 2024, the poll showed.

SHANGHAI/SINGAPORE, March 29 (Reuters) - Investors are piling into China's tech, media and telecom shares, with speculative bets on chatbot development crowding out other sectors in a scenario that offers a stark contrast with global caution. On some days, including several last week, turnover in tech, media and telecom (TMT) stocks made up more than 40% of total market trade, according to China Merchants Securities' research, for a record concentration of trading volume. "In the stockmarket, AI will be an epic opportunity," said Niu Chunbao, a fund manager at Wanji Asset Management who worried he was missing the rally and bought AI stocks in recent weeks, after cutting exposure to new energy in February. An eye-catching tripling in the share price of chipmaker Cambricon Technology Corp (688256.SS) has driven its market value above $10 billion, despite the company reporting losses since 2017. ($1=6.8891 Chinese yuan renminbi)Reporting by Jason Xue in Shanghai and Tom Westbrook in Singapore; Editing by Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

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