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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarket probably viewed Politburo memo as 'disappointing,' says China RenaissanceAndrew Maynard, managing director and head of equities at China Renaissance, says the market was hoping for "some level of a bazooka."
Persons: Andrew Maynard Organizations: China Locations: China
Financial advisory firm discusses the outlook for China markets
  + stars: | 2024-01-15 | 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 EmailChina markets will be 'incredibly volatile' at least till Lunar New Year: Financial advisory firmAndrew Maynard, managing director and head of equities at China Renaissance, says a long- rather than short-term position on the China market is preferable.
Persons: Andrew Maynard Organizations: China Locations: China
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarkets have already priced in US-China geopolitical conflict: China RenaissanceAndrew Maynard of China Renaissance thinks global pessimism around China "appears to be eroding" and says it remains a very attractive investment option.
Persons: Andrew Maynard of Organizations: Andrew Maynard of China Locations: China
People walk past buildings in Shanghai, Shanghai, China, on Friday, April 21, 2023. Producer price index in May fell 4.6%, marking the steepest year-on-year drop in seven years, when producer prices saw a year-on-year drop of 7.2% in May 2016. China's low consumer inflation and deflation in its producer prices come in contrast to relatively high inflation in major economies around the world. The mining and raw material industries led declines in producer prices, while food, tobacco and alcohol prices led consumer price gains, the data showed. Nearing bottomDespite the softness in the latest price indexes, one China market watcher seemed to be holding on to an optimistic "long China" call.
Persons: Zhiwei Zhang, Zhang, Andrew Maynard of Organizations: Bloomberg, Getty, Reuters, CPI, U.S . Federal Reserve, U.S ., CSI, China's National Bureau, Statistics Locations: Shanghai, China, Canada, Australia, Shenzhen, Andrew Maynard of China
The stock is buy rated by about 70% of analysts covering it, who give it average upside of 164.3%. Meanwhile, shares in Warren Buffett-backed BYD were up just 9% in November, but analysts think the stock could rally 68.4% looking ahead. Tech stocks A slew of Chinese tech stocks made the screen too, including Alibaba and Tencent . Analysts are bullish on Alibaba, with 89% of analysts holding a buy rating on the stock and giving it average upside of 39%. Andrew Maynard, head of equities at investment bank China Renaissance, believes Chinese Big Tech stocks such as Alibaba and Tencent are "incredibly cheap."
This year's 30% decline in the value of Chinese Big Tech stocks, such as Alibaba , has made them "incredibly cheap," according to investment bank China Renaissance. "We saw body blow after body blow when it came to that regulatory environment," Maynard told CNBC Friday, speaking from Hong Kong. According to Maynard, major global long-only investors, which dominate the Hong Kong stock exchange, now view large-cap tech stocks such as Alibaba, Meituan , Tencent and JD.com as "very deeply undervalued." Its Hong Kong traded shares ended the day up over 2% Friday, although its New York-listed shares were in the red after rising 7.8% the day before. However, Maynard cautioned that investors who ignore Chinese technology stocks would likely miss out on significant returns in the future.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe underweight nature of Chinese equities has been epic, analyst saysAndrew Maynard, managing director and head of equities at China Renaissance, discusses China tech stocks on "Squawk Box Europe."
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