主題相關資訊: 新經濟


From a total portfolio perspective, global asset owners and allocators are increasing wary about the overall portfolio sensitivity to interest rate changes and ultimately risk diversification. The concept of “equity duration” was raised long ago and has been subject to debate for decades. While some absolute calculations fail to work in today’s markets, we believe the economic and financial intuition beneath still hold. In this working paper, we took a renewed approach to analyze the relationships from a relative perspective and with an overarching objective of total portfolio risks in mind.


Nov 26, 2020


Two separate news items last week focused our attention on the gap in understanding about the rapidly changing energy landscape in China.


Oct 20, 2020


疫情衝擊下,中國推出40萬億人民幣的「新基建」計劃振興當前經濟,「#新基建」因而頻頻炒上熱搜榜,點燃市場廣泛關注及業界討論。「新基建」到底為何?「新基建」概念股又該從何下手?


Apr 17, 2020


The COVID-19 outbreak has led to a worldwide pandemic, a global slowdown, arguably a recession and hopefully not a depression. Business activities globally have been halted due to the outbreak and demand has been shrinking significantly as well. Apart from some of the Asian countries including China, we have yet seen an inflection point of the case curves in most countries. In this article, we’d like to share some notable leading Chinese players in the space that have been working hard to fight against the virus for the domestic and global community.


Apr 3, 2020


The virous outbreak becomes one of the largest threats to the global economy and financial markets in decades. Will China, the one which has been suffered from the pandemic first, be able to bounce back first and lead the recovery worldwide like the Global Financial Crisis back in 2008? The latest call in new infrastructure investment maybe the key.


Mar 20, 2020


The coronavirus situation in China seems to have improved a lot, and now many are worried about what will happen as the factories get back on their feet. How's the progress so far?


Mar 10, 2020


Recent market rallies, despite COVID-19, are neither “ill informed” nor “complacent” Markets are looking past the viral outbreak Stocks will likely return to being driven by whatever the trends were before the outbreak Developed markets are at the tail end of bull moves – they could edge a bit higher but the risks are on the downside, and that's got nothing to do with COVID-19 either Chinese equities could ironically outperform developed market stocks this year


Feb 24, 2020


On account of an atypical, tech-enabled start of the Year of the Rat, what are people doing during this very unusual Chinese New Year holiday period? While the roads are empty and quiet, we see extremely busy traffic online from social gathering and entertainment to post-holiday work arrangements all thanks to technology - which enabled an unconventional time of family reunion, and possibly fast-tracked development of enterprise digital transformation in the way.


Feb 3, 2020


With the current risk-on sentiment, it is reasonable for investors to look for growth area in the market. Yet, which sectors in China A-shares offer higher growth in 2020 based on the consensus forecast from the sell-side analyst? It would be essential to know beforehand for investors in allocating their assets in China market. That said, does it mean that anything outside the growth segments is not worth investing? Since China has been emphasizing on quality instead of quantity under the structural change of the economy, is it probable that there could be some hidden gems in the stable or slow-growth industries? We will try to answer these questions in this article.


Jan 15, 2020


We review the history of Chinese consumption over the last 30-40 years and explain why we believe the Chinese consumer holds the key to global economic growth, not just in China but in every country connected to international markets.


Nov 11, 2019


Whatever happens over coming weeks and even months in the US-China trade war, Donald Trump has irreparably broken the global trade architecture. And with it, he has also forced a realignment of the global supply chain that will likely see ASEAN emerge as a new manufacturing centre.


Jun 27, 2019