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Abundant retail turnover provides alpha opportunities in China-A
Abundant retail turnover provides alpha opportunities in China-A
2019/11/28

以下翻譯結果由阿里雲機器翻譯引擎生成,僅供參考。 睿亞資產對內容的準確性或適當性不承擔任何責任,如與英文原文含義不同,以原文為準。

The combination of market participants looks quite unique in China A-share with close to 82% of daily trading turnover contributed by individual investors, while retail trading only accounts for 16% in Hong Kong, where China H-share is listing. Institutional investors are still the minority in China A-share although their involvement will continue to pick up as domestic pensions, insurers, asset managers, and family offices are growing. Besides, foreign investors are able to gain access to the onshore Chinese equities listed in Shanghai and Shenzhen easier through Connect Program, which trading can be executed via Hong Kong stock exchange. That's said, given the current mix of investors in China A-share now, professional investors may generate alpha performance from the potential mispricing on the back of less sophisticated trading activities.


The combination of market participants looks quite unique in China A-share with close to 82% of daily trading turnover contributed by individual investors, while retail trading only accounts for 16% in Hong Kong, where China H-share is listing.  Institutional investors are still the minority in China A-share although their involvement will continue to pick up as domestic pensions, insurers, asset managers, and family offices are growing.  Besides, foreign investors are able to gain access to the onshore Chinese equities listed in Shanghai and Shenzhen easier through Connect Program, which trading can be executed via Hong Kong stock exchange.  That's said, given the current mix of investors in China A-share now, professional investors may generate alpha performance from the potential mispricing on the back of less sophisticated trading activities. 

  • 賴子健
    賴子健 , CFA

    合夥人兼聯合首席投資官

  • 賴子健
    賴子健 , CFA

    合夥人兼聯合首席投資官

以下翻譯結果由阿里雲機器翻譯引擎生成,僅供參考。 睿亞資產對內容的準確性或適當性不承擔任何責任,如與英文原文含義不同,以原文為準。

The combination of market participants looks quite unique in China A-share with close to 82% of daily trading turnover contributed by individual investors, while retail trading only accounts for 16% in Hong Kong, where China H-share is listing. Institutional investors are still the minority in China A-share although their involvement will continue to pick up as domestic pensions, insurers, asset managers, and family offices are growing. Besides, foreign investors are able to gain access to the onshore Chinese equities listed in Shanghai and Shenzhen easier through Connect Program, which trading can be executed via Hong Kong stock exchange. That's said, given the current mix of investors in China A-share now, professional investors may generate alpha performance from the potential mispricing on the back of less sophisticated trading activities.


The combination of market participants looks quite unique in China A-share with close to 82% of daily trading turnover contributed by individual investors, while retail trading only accounts for 16% in Hong Kong, where China H-share is listing.  Institutional investors are still the minority in China A-share although their involvement will continue to pick up as domestic pensions, insurers, asset managers, and family offices are growing.  Besides, foreign investors are able to gain access to the onshore Chinese equities listed in Shanghai and Shenzhen easier through Connect Program, which trading can be executed via Hong Kong stock exchange.  That's said, given the current mix of investors in China A-share now, professional investors may generate alpha performance from the potential mispricing on the back of less sophisticated trading activities.