Many are dialing back risk exposure ahead of China’s Communist Party Congress in October
Investors are dialing back risk exposure ahead of China’s Communist Party Congress in October and sticking money in the relative safety of mainland blue chips as they await signs Beijing is ready to address problems hanging over the economy.
But investors have little appetite to make bets about what happens beyond that event, which would see Xi Jinping anointed for a third five-year term as the supreme leader and a shuffle of personnel on the decision-making Politburo. They also hope issues currently clouding investor confidence, such as zero-COVID policies and property sector stress, ease after Xi’s reappointment.
Francois Savary, chief investment officer at Prime Partners SA, a Swiss wealth manager with around $4.1 billion of assets, says it is difficult for investors to avoid China exposure. Staying neutral is a safe option while there is uncertainty about what a more powerful Xi would do, he said, given Beijing’s recent push to clean up the real estate and tech sectors and his long-term desire for a more self-sufficient and equitable China.Regulators recently asked some fund managers and brokers to avoid massive equity sales ahead of the Congress, sources have told Reuters.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
In Italy, a little ‘bella’ goes a long wayThe Globe and Mail offers the most authoritative news in Canada, featuring national and international news
Read more »
Investors should be overweight commodities and half of that in gold - abrdn's MinterKitco News talks with some of the most influential gold market analysts, economists, investors and mining CEOS to get their take on the industry and financial markets and the global economy
Read more »
This asset will 'absolutely' more than double, energy crisis intensifies - Nicole Adshead-BellNicole Adshead-Bell, Director at Cupel Advisory, talks with David Lin, Anchor and Producer at Kitco News, about how 'copper is the new lithium,' why ESG acti...
Read more »
Radisson Mining Resources' CEO steps downA roundup of all the mining news in the precious metals sector with a variety of company news, mining sector analysis, newsletter writer insights and executive interviews.
Read more »