精選觀點 & Webinar
彭博目前預估中國2020年平圴國內生產總值（GDP）增長率僅約2%；然而，中國經濟卻正持續全面加速正常化，提高了打破這個預測的可能性。
Oct 06, 2020
China economy recovered faster than the rest of the world from the pandemic as shown by various economic indicators ranging from official PMI, GDP number, steel output, excavator sales, to traffic data. China’s solid macro recovery stands out from the rest of the major economies which either remain in a lock-down mode or simply begin to resume economic activities. That explains Chinese listed companies outperformed in terms of earnings and stock price performance.
Sep 10, 2020
An overdue technical rebound in the US Dollar – which started a week ago – may give investors an opportunity to diversify their currency holdings away from the Greenback. What is emerging could well turn out to be a counter-trend rally in a bigger, multi-year Dollar decline.
Sep 09, 2020
在經歷今年首季度的急劇拋售後，全球股市在近幾個月表現亮眼。這個反彈看似是典型的非理性「大爆發」，因為全球主要經濟體正在或即將進入衰退期，且全球新冠肺炎疫情仍未見緩和之勢；然而，從另一方面而言，這具前瞻性的市場走勢，可能反映出投資者已走出疫情陰霾，整裝以待爭相捕捉股市V型反彈所帶來的投資機遇。中國A股市場既擁有穩健的基本面，又具相當吸引人的估值。因應全球股市下跌，投資者可考慮穩步增持中國A股。本篇文章中，我們將簡述當前市場動態與如何精準捕捉中國A股反彈的增長機會。
Sep 02, 2020
CSI 300 outperforms S&P 500, Chinese tech outruns Nasdaq 100. How has China’s new economy sectors including its recently launched “Nasdaq” – the STAR board (Shanghai Stock Exchange’s Science and Technology Innovation Board) – outperformed global indices despite being at the center of a trade-tech war with the United States?
Sep 01, 2020
Highest recorded yield spread between the China 10Y Government Bond and the 10Y UST. The yield spread between the China 10-year government bond over the 10-year US Treasury recently hit its widest ever recorded level.
Aug 25, 2020
In the midst of a US tech bubble, Chinese and Hong Kong equities have emerged in the sweet spot between valuations, profitability and balance sheet strength.
Aug 18, 2020
Are US indices rallying because of COVID-19? The most common narrative is that “US stocks have been rising despite the pandemic.” Perhaps a more accurate explanation is “US stocks have been rising because of the pandemic”.
Aug 12, 2020
After the fall in Q1, global equities recovered sharply in Q2 as the COVID fear eases and stimulus packages kick in around the world. YTD, China is the best performing emerging market, and the broad CSI 300 index gained 14% in the second quarter. From factor investing perspective, we continue to see the dispersion of a two-speed-economy despite an overall beta pick up. Quality growth new economy stocks continue to be the winner.
Aug 11, 2020
Premia 圖說
賴子健 , CFA
CFA
Chinese equities got off to a strong start in 2026, led by the STAR Market. Since onshore trading resumed, the STAR50 Index has risen 9.9% in dollar return, outperforming CSI300’s 2.9% and offshore Hang Seng Tech’s 3%. This extends the strong momentum seen in 2025, when the STAR50 delivered a dollar return of 42.6%, well ahead of CSI300’s 26.3% and Hang Seng Tech’s 24.5%. Policy signals remain supportive. In his New Year’s Eve address, President Xi highlighted China’s progress in artificial intelligence and semiconductors, reinforcing innovation as a core pillar of high-quality economic development. Advances in humanoid robotics, drones, aerospace, and defence were cited as key examples. At the corporate level, the China Integrated Circuit Industry Investment Fund (“Big Fund”) increased its stake in SMIC, the largest constituent of the STAR50 Index, from 4.79% to 9.25%, showing state support for advanced-node capabilities. Among the outperforming stocks, Guobo Electronics rose close to 40% over the past five trading days, following reports that China aims to scale up to 100 rocket launches annually by 2030. As a leading supplier of RF chips and T/R modules, Guobo is a major beneficiary of rising demand for satellite and launch-vehicle communications. AMEC shares also surged after announcing the acquisition of a 64.7% stake in Hangzhou Zhongsilicon, expanding its offering from dry processes into chemical mechanical polishing. Meanwhile, VeriSilicon Microelectronics reported a 130% year-on-year increase in new orders last quarter, driven by accelerating AI chip demand. Against this backdrop, the Premia China STAR50 ETF allows investors to align portfolios with China’s strategic push in advanced technology and innovation through the STAR Market.
Jan 12, 2026
