Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

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News from Caixin

Cross Asset Strategy

<ul><li>China’s private fund sector was put through the ringer in 2023, with a shaky economic recovery and relentless stock market volatility testing portfolio managers’ resolve.</li><li>During the third straight year of rout in the Chinese stock market, private bond funds’ returns outperformed their stock-focused peers.</li><li>Another bright spot was quantitative investment funds.</li></ul>

China’s private fund sector was put through the ringer in 2023, with a shaky economic recovery and relentless stock market volatility testing portfolio managers’ resolve.During the third straight year of rout in the Chinese stock market, private bond funds’ returns outperformed their stock-focused peers.Another bright spot was quantitative investment funds.

China’s Private Quant, Bond Funds Outperform Peers as Stock Market Falters 

<ul><li>China’s securities regulator is tightening its grip on a popular and highly leveraged quantitative trading strategy that is blamed for fueling the recent stock market upheavals.</li><li>The China Securities Regulatory Commission (CSRC) in a Wednesday statement promised to gradually reduce the size and leverage of Direct Market Access (DMA), a business model widely used by quantitative funds.</li><li>The move will help control risks and ensure the stable and healthy operation of the market, the regulator said in the statement.</li></ul>

China’s securities regulator is tightening its grip on a popular and highly leveraged quantitative trading strategy that is blamed for fueling the recent stock market upheavals.The China Securities Regulatory Commission (CSRC) in a Wednesday statement promised to gradually reduce the size and leverage of Direct Market Access (DMA), a business model widely used by quantitative funds.The move will help control risks and ensure the stable and healthy operation of the market, the regulator said in the statement.

Securities Watchdog Tells Quant Funds to Downsize Popular Strategy 

Asia biased macro & technical analysis, Untying The Gordian Knot

Untying The Gordian Knot

Asia biased macro & technical analysis

A differentiated process with a primary focus on Asia. Technical Analysis as core and Macro drivers that could bring the view to fruition & changes that could make the idea fall apart. The objective is to be the best in class, hence corner shop.

Macroeconomics

<ul><li>Sharp Bond Yield Drop: 10- and 30-year bond yields plunged to their base targets of 2.41% and 2.61%, falling by 3.2 and 5 basis points, respectively.</li><li>These Base Targets were set in our previous Notes on China.</li><li>Downside Trigger: The CSI 1000 and ChiNext indices fell sharply due to "Snowball Structures" exceeding their limits, typically triggered when the index drops 20% or more.</li></ul>

Sharp Bond Yield Drop: 10- and 30-year bond yields plunged to their base targets of 2.41% and 2.61%, falling by 3.2 and 5 basis points, respectively.These Base Targets were set in our previous Notes on China.Downside Trigger: The CSI 1000 and ChiNext indices fell sharply due to "Snowball Structures" exceeding their limits, typically triggered when the index drops 20% or more.

Chinese Equity Markets: Wild Ride, But "Xi Briefing" Steals the Show

External broker reports(aggregated public sources), ABN AMRO

ABN AMRO

External broker reports(aggregated public sources)

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<ul><li>Beijing steps up property support; risks being shifted to banks, longer-term downsizing to continue</li><li>Support measures should help a broader recovery in domestic demand, but this may take time</li><li>Structural drags remain: we expect annual growth to fall below 5% in 2024 and 2025</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Beijing steps up property support; risks being shifted to banks, longer-term downsizing to continueSupport measures should help a broader recovery in domestic demand, but this may take timeStructural drags remain: we expect annual growth to fall below 5% in 2024 and 2025Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China Outlook 2024 - Navigating Between Cyclical and Structural Headwinds

<ul><li>In Depth: Chinese firms bending over backward to offer foldable phones</li><li>Shanghai says no plan to seal off entire city of 25 million</li><li>Chinese stocks get another drubbing as uncertainty overwhelms investors</li></ul>

In Depth: Chinese firms bending over backward to offer foldable phonesShanghai says no plan to seal off entire city of 25 millionChinese stocks get another drubbing as uncertainty overwhelms investors

CX Daily: Chinese Firms Bending Over Backward to Offer Foldable Phones

China

Shenzhen Composite Index is an actual market-cap weighted index (no free float factor) that tracks the stock performance of all the A-share and B-share lists on Shenzhen Stock Exchange. The index was developed on April 3, 1991 with a base price of 100. 

Shenzhen Stock Exchange Composite Index (SZCOMP INDEX)

Shenzhen Stock Exchange Composite Index (SZCOMP INDEX)

China’s Private Quant, Bond Funds Outperform Peers as Stock Market Falters

China’s private fund sector was put through the ringer in 2023, with a shaky economic recovery and relentless stock market volatility testing...

Caixin Global

Securities Watchdog Tells Quant Funds to Downsize Popular Strategy

China’s securities regulator is tightening its grip on a popular and highly leveraged quantitative trading strategy that is blamed for fueling the...

Caixin Global

Chinese Equity Markets: Wild Ride, But "Xi Briefing" Steals the Show

Sharp Bond Yield Drop: 10- and 30-year bond yields plunged to their base targets of 2.41% and 2.61%, falling by 3.2 and 5 basis points, respectively.

Untying The Gordian Knot

China Outlook 2024 - Navigating Between Cyclical and Structural Headwinds

Beijing steps up property support; risks being shifted to banks, longer-term downsizing to continue Support measures should help a broader...

ABN AMRO

CX Daily: Chinese Firms Bending Over Backward to Offer Foldable Phones

In Depth: Chinese firms bending over backward to offer foldable phones. Shanghai says no plan to seal off entire city of 25 million

Caixin Global