Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Cross Asset Strategy

<ul>
<li>Expectation management of any stimulus package gives the potential to overdeliver</li>
<li>Recent economic data is surprising to the upside in China</li>
<li>Divergent investor viewpoints and Trump's win likely mean offshore markets will be more volatile than onshore</li>
</ul>


Expectation management of any stimulus package gives the potential to overdeliver
Recent economic data is surprising to the upside in China
Divergent investor viewpoints and Trump's win likely mean offshore markets will be more volatile than onshore


Much Ado About Nothing -Or Why the China Stimulus Package Doesn’t Matter as Much as Investors Think

<ul>
<li>Change in strategy by the Chinese authorities mean this is more than a trade</li>
<li>Sentiment, valuations and positioning are still supportive despite the rally</li>
<li>Overbought conditions in the very short-term and the technical picture is mixed </li>
</ul>


Change in strategy by the Chinese authorities mean this is more than a trade
Sentiment, valuations and positioning are still supportive despite the rally
Overbought conditions in the very short-term and the technical picture is mixed 


<ul>
<li>A monthly review of how the markets and our themes are currently performing</li>
<li>Analysing what went wrong and what went right in stocks and sectors</li>
<li>Highlighting positions added or removed from the thematic investment portfolio</li>
</ul>


A monthly review of how the markets and our themes are currently performing
Analysing what went wrong and what went right in stocks and sectors
Highlighting positions added or removed from the thematic investment portfolio


September Themes and Thematic Portfolio Review

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

<ul><li>Autos / Cover Story: Chinese carmakers enter 2024 fighting price war, heightened EV competition China’s automakers</li><li><p>Personnel /: China appoints first naval officer as minister of defense</p></li><li><p>Property /: Year in Review: China’s real estate sector in crisis</p></li></ul>

Autos / Cover Story: Chinese carmakers enter 2024 fighting price war, heightened EV competition China’s automakersPersonnel /: China appoints first naval officer as minister of defenseProperty /: Year in Review: China’s real estate sector in crisis

CX Daily: Chinese Carmakers Enter 2024 Fighting Price War, Heightened EV Competition 

Greater China Equity Long/Short Analyst

Eric Chen

Thematic (Sector/Industry)

<ul>
<li>The vast majority of under-educated Chinese in less-developed regions are largely irrelevant to the China consumer market as investors and analysts know it.</li>
<li>That is why that simple benchmarking with developed markets on per capita basis almost always results in forecasts that prove too optimistic in hindsight.</li>
<li>They risk being further left behind as technology advancements and economic transformation may block the path for their income growth and hence derail consumption upgrade.</li>
</ul>


The vast majority of under-educated Chinese in less-developed regions are largely irrelevant to the China consumer market as investors and analysts know it.
That is why that simple benchmarking with developed markets on per capita basis almost always results in forecasts that prove too optimistic in hindsight.
They risk being further left behind as technology advancements and economic transformation may block the path for their income growth and hence derail consumption upgrade.


What Is Holding Back China Consumers’ Potential?

China

China Tourism Group Duty Free Corporation Limited is a state-owned enterprise primarily engaged in the retail of duty-free and tax-bearing travel commodities, including luxury items, cosmetics, tobacco, and alcohol. It operates numerous retail outlets across airports, border crossings, and downtown areas, and also develops tourism retail complexes. The company was established in 1984 and is headquartered in Beijing, China.

Price Gauge
52-week Range	0.00 - 0.00
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China Tourism Group Duty Free (1880 HK)

Much Ado About Nothing -Or Why the China Stimulus Package Doesn’t Matter as Much as Investors Think

Expectation management has been key as China's economic data surprises on the upside, but divergent investor views and Trump's win may lead to...

Rikki Malik

Examining the Bear Case for China

Chinese authorities shift strategy , and while sentiment and valuations support the rally, in short-term there are overbought conditions and a...

Rikki Malik

September Themes and Thematic Portfolio Review

We review overall market performance, our investment themes, highlighting additions and substractions in the thematic portfolio.

Rikki Malik

CX Daily: Chinese Carmakers Enter 2024 Fighting Price War, Heightened EV Competition

Autos / Cover Story: Chinese carmakers enter 2024 fighting price war, heightened EV competition China’s automakers -- on track for record sales in...

Caixin Global

What Is Holding Back China Consumers’ Potential?

The majority of under-educated Chinese in lower-tier cities is irrelevant to China consumer market as we know it. Be cautious with simple...

Eric Chen

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Much Ado About Nothing -Or Why the China Stimulus Package Doesn’t Matter as Much as Investors Think

​Expectation management has been key as China's economic data surprises on the upside, but divergent investor views and Trump's win may lead to...

Rikki Malik

Examining the Bear Case for China

​Chinese authorities shift strategy , and while sentiment and valuations support the rally, in short-term there are overbought conditions and a...

Rikki Malik

September Themes and Thematic Portfolio Review

We review overall market performance, our investment themes, highlighting additions and substractions in the thematic portfolio.

Rikki Malik

CX Daily: Chinese Carmakers Enter 2024 Fighting Price War, Heightened EV Competition

Autos / Cover Story: Chinese carmakers enter 2024 fighting price war, heightened EV competition China’s automakers -- on track for record sales in...

Caixin Global

What Is Holding Back China Consumers’ Potential?

The majority of under-educated Chinese in lower-tier cities is irrelevant to China consumer market as we know it. Be cautious with simple...

Eric Chen

Expectation management has been key as China's economic data surprises on the upside, but divergent investor views and Trump's win may lead to...

Chinese authorities shift strategy , and while sentiment and valuations support the rally, in short-term there are overbought conditions and a...