Jun 7, 2023

Top-Performing Fund Favors China Stocks as Bearish Tide Grows Rishi Sunak Seeks Closer Economic Ties in First White House Visit BlackRock’s China Head Tang Resigns Just as Competition Heats Up World Bank Sees Kenya’s Economy Growing 5% This Year Hindenburg-Inflicted Losses Still Weigh Heavily on Adani Stocks India’s MRPL Shelves Refinery Growth to Focus on Chemicals Bet Germany Is Running Out of Workers, Putting Growth in Jeopardy Cathie Wood Boosts Coinbase Stake as SEC Crypto Crackdown Widens Exxon CEO Tells Europe to Follow US Approach to Climate Action China Exports Drop More Than Expected, Adding to Economic Risks Australia’s Economy Cools as Aggressive Rate Hikes Take Toll Oil Steadies as Concerns Over Demand Overshadow Saudi Output Cut Morgan Stanley Makes Sole Underweight Call on Battery Giant CATL Slowdown Threatens Indian Economy Even as Its Rich Keep Spending Bids for Indonesia’s Bonds Soar to Two-Year High With Peak Rates Infamous Serta Debt Deal Deemed in ‘Good Faith’ by Federal Judge SEC Seeks to Freeze Binance.US Assets and Protect Customer Funds Pinduoduo Draws Short Sellers in China’s E-Commerce Price War Kardashian Crypto Hype Lawsuit Advances Over Her Alleged Lies Ballooning debt takes the highest toll on home equity borrowers: Dale Jackson How to invest globally without taking on a world of risk: Dale Jackson How improving your financial literacy can help ease stress in a tough economy Considering tenant insurance? Here's what you need to know first How to be the model driver, and get a break on car insurance Pattie Lovett-Reid: Protecting yourself financially from the risks of dementia Fixed income investors can breathe easier as inflation recedes: Dale Jackson Summer on a shoestring budget: Tips for surviving summer break as camp costs rise Why re-investing your tax refund is the smart option Owe money to the CRA this tax season? Here are some repayment options PSAC: Will Canada's tax deadline be moved due to the strike? How claiming income from side gigs can lower your tax bill Paper filing is dying but free income tax software lives on: Dale Jackson Tax deadline: Strike not a major issue for most Canadians, expert says 'Give yourself time and space': How to manage your finances during times of grief Experts explain how to cope with money stress Experts share effective ways to tackle student debt As thousands flock to day trading during lockdown, experts urge caution Dual income, no kids: Why some young Canadians are choosing this lifestyle Giant Cracks in Road Spark Evacuation of High-Rise Blocks in China RBA Alert to Risk Inflation Stays Too High, Too Long, Lowe Says Singapore Tax Hike Is Starting to Cool Foreign Demand for Property Jamie Dimon Says US Is Pursuing the Right Strategy on China ‘Sold Out’ Warehouse Operator in Mexico to Invest $700 Million The Bank of Canada Is Likely Ready to Start Hiking Interest Rates Again 'Myriad of headwinds' hurting housing supply in Canada: CAPREIT CEO Ex-Mellon CIO Seeks $250 Million for Big Short on Corporate Debt Pimco Sees Best Bond Return Potential in 14 Years as Rates Rise Zuckerberg Cash Is Helping to Propel Chicago’s Unlikely Biotech Ambitions Morgan Stanley Plans Move to New Singapore Office in Growth Boom UK Homebuilding Shrinks at Pace Seen in 2009 Crash as Rates Soar Asia Family Offices Are Most Bearish on Property, Survey Shows Australia’s Hawkish Interest-Rate Hike Explained in Four Charts Latest in Luxury in the Middle East? $35 Million Bling and Sky Mansions Half of Large Firms Plan to Cut Office Space, Knight Frank Says Australia Unexpectedly Raises Key Rate, May Tighten Further A Wave of Delisting Faces Chinese Developers in Risk to Funding Republican Donor's Plane Involved in Deadly Crash That Triggered Sonic Boom Top-Performing Fund Favors China Stocks as Bearish Tide Grows Water Crisis Threatens Alcoholic Drinks Supply, Top Distiller Diageo Warns Rishi Sunak Seeks Closer Economic Ties in First White House Visit BlackRock’s China Head Tang Resigns Just as Competition Heats Up Sequoia’s Split Sends Warning to Every Company Doing US-China Business Israel’s Biggest Opportunity Now Is AI, Economy Minister Says Hindenburg-Inflicted Losses Still Weigh Heavily on Adani Stocks India’s MRPL Shelves Refinery Growth to Focus on Chemicals Bet Germany Is Running Out of Workers, Putting Growth in Jeopardy Cathie Wood Boosts Coinbase Stake as SEC Crypto Crackdown Widens Exxon CEO Tells Europe to Follow US Approach to Climate Action China Exports Drop More Than Expected, Adding to Economic Risks Australia’s Economy Cools as Aggressive Rate Hikes Take Toll Japan’s LGBTQ Bill Set for Step Toward Passage by End of Session China’s Missing Politburo Statements Fan Diminishing Data Fears Morgan Stanley Makes Sole Underweight Call on Battery Giant CATL Slowdown Threatens Indian Economy Even as Its Rich Keep Spending Infamous Serta Debt Deal Deemed in ‘Good Faith’ by Federal Judge Google Bets On Local Languages to Fuel Android’s Growth in India Rishi Sunak Seeks Closer Economic Ties in First White House Visit World Bank Sees Kenya’s Economy Growing 5% This Year Hindenburg-Inflicted Losses Still Weigh Heavily on Adani Stocks India’s MRPL Shelves Refinery Growth to Focus on Chemicals Bet Exxon CEO Tells Europe to Follow US Approach to Climate Action Australia’s Economy Cools as Aggressive Rate Hikes Take Toll Oil Steadies as Concerns Over Demand Overshadow Saudi Output Cut Morgan Stanley Makes Sole Underweight Call on Battery Giant CATL World’s Largest Cocoa Producers Consider New Pricing Mechanism RBA Alert to Risk Inflation Stays Too High, Too Long, Lowe Says US Backs Poland Gas Hedging, Drawing Climate Activists’ Ire RBI May Pause Again With Markets Watching for Shift in Stance England Set to Take 4,700 Years to Reach Wind Power Target, Study Says UK Bans ‘Misleading’ Fossil Fuel Ads That Overemphasize Renewables Brookfield Sells $1 Billion New Zealand Phone Stake to Infratil Goldman Prepares to Enter Japan’s Growing Power Futures Market Veteran Distressed Investor to Vote for Rio Utility’s Bankruptcy Global Carbon Markets Face Upheaval as Nations Remake the Rules Wildfires force miners to suspend operations in Eastern Canada Credit card balances increase in first quarter as mortgage market slows: Equifax What economists are expecting from Wednesday's Bank of Canada decision Canada's housing market not showing impact of higher interest rates: Report World Bank offers dim outlook for the global economy in face of higher interest rates The Daily Chase: Markets point to flat open; price of oil under pressure TSX recap: Index falls nearly 0.5% amid losses in base metals Canada's economy is proving surprisingly immune to higher interest rates The Daily Chase: Oil prices climb; Markets point to mixed open BoC may have to raise rates again this summer given recent momentum, economists say Home sales up 25% from last year, but supply remains low: Toronto real estate board Vehicle sales rise in May, showing hope for strong summer: DesRosiers The Daily Chase: Suncor to cut 1,500 jobs; Toronto home sales rise Is Canada still heading for a recession in 2023? 'Earn while you learn:' Co-op programs gain appeal amid rising cost of living ​Commercial real estate looks strong despite office struggles: RE/MAX report How happy are Canadians in the workplace? Satisfaction is on the rise What the latest GDP report means for a Bank of Canada rate hike What slowdown? Economy continues to outperform ​Household credit card debt rises for third consecutive month World Bank Sees Kenya’s Economy Growing 5% This Year Japan’s LGBTQ Bill Set for Step Toward Passage by End of Session China’s Missing Politburo Statements Fan Diminishing Data Fears Philippines Not A Pawn in Geopolitical Tensions: Defense Chief Christie Makes Rematch Against Trump Official: He’s Running in 2024 Mexico’s Ebrard to Leave Post as Presidential Campaign Kicks Off US Backs Poland Gas Hedging, Drawing Climate Activists’ Ire Chinese Used ByteDance ‘God Credential’ to Track Data, Suit Says South Africa’s President, Ministers Meet CEOs Amid Investor Angst GOP Hard-Liners Protest McCarthy’s Debt Deal by Halting House Business Connecticut Budget With First Tax Cut Since 1990s Likely to Pass Big Four Face Australia Senate Grilling on Consulting Contracts Colombia’s ‘U’ Party Calls on Petro to Delay Welfare Reforms DeSantis Anti-Drag Law Sparks a Debate Over Parental Rights Gas Stove Debate Is Back as Republicans Seize on Issue With House Votes Italy’s Meloni Visits Tunisia in Bid to Stem Summer Migration Spain Blasts ‘Dangerous’ Call to Reopen Renewables Plan Dam Destroyed in the Dead of the Night Upstages Ukraine’s Counteroffensive Trump Special Counsel Summons Florida Witnesses in Classifed Documents Probe Top-Performing Fund Favors China Stocks as Bearish Tide Grows Rishi Sunak Seeks Closer Economic Ties in First White House Visit Sequoia’s Split Sends Warning to Every Company Doing US-China Business Israel’s Biggest Opportunity Now Is AI, Economy Minister Says Cathie Wood Boosts Coinbase Stake as SEC Crypto Crackdown Widens Google Bets On Local Languages to Fuel Android’s Growth in India SEC Seeks to Freeze Binance.US Assets and Protect Customer Funds Pinduoduo Draws Short Sellers in China’s E-Commerce Price War Kardashian Crypto Hype Lawsuit Advances Over Her Alleged Lies Scale AI CEO Says US Risks Losing AI ‘Ammunition’ Edge to China Check Payments to End in Australia as Consumers Go Digital New US Spy Satellites to Track Chinese, Russian Threats in Orbit Chinese Used ByteDance ‘God Credential’ to Track Data, Suit Says Coinbase Crackdown Widens as US States Push to Halt Staking Product Coinbase Threatens to Take SEC Fight to Supreme Court If Needed Coinbase Sued by SEC for Breaking US Securities Rules Coinbase Is Facing a ‘Life or Death’ Battle With the SEC Brookfield Sells $1 Billion New Zealand Phone Stake to Infratil Robinhood Reviews Crypto Offerings After SEC Crackdown The U.S. Fed is failing in four ways: Mohamed A. El-Erian Apple, JPMorgan turn to pay now grow later Remote Working Boom Is Huge for College Towns Like Knoxville Walmart flashes a warning sign to the entire consumer economy: Andrea Felsted Millennials are finally spending like grown-ups Dismal U.S. GDP report raises the odds of recession this year: Gary Shilling Musk is wrong for Twitter even if deal math works out Chocolate bunnies can teach us to save our food supply The Fed has made a U.S. recession inevitable America's oil reserve weapon risks misfiring Four-day workweeks can burn you out U.S. Fed expects a soft landing. Don't count on it Markets are pushing Fed into developing-economy territory Commodity traders go from bonanza to bailout plea Putin's war shows West must clean up dirty money Salary transparency is good for everyone Microsoft's US$69B Activision deal could be a blunder What if the oil market bulls are wrong and this lonely bear is right? Canada's trucker protest may spread from Ottawa to U.S. Cathie Wood Boosts Coinbase Stake as SEC Crypto Crackdown Widens A Retail Exodus from US Stocks Points to Gains Ahead, Bank of America Says Crypto Markets Carry On After SEC Clampdown on Largest Exchanges Biggest Junk-Bond ETF Attracts Most Cash Since 2020 as Rally Builds PayPal’s 80% Stock Plunge Hasn’t Soured Wall Street Goldman Sachs Takes Aim at JPMorgan’s Billions With Copycat ETFs ESG Fund Manager Beats 99% of Peers With Giant Bet on Nvidia K-Pop Stocks’ $5.4 Billion Rally Emboldens Bulls Cboe Is Now Listing Companies Alongside NYSE and Nasdaq Investors Are Dumping Value Funds to Shovel Money Into AI Bets Goldman’s Hedge Fund ETF Is Crushing the S&P 500 With AI Bets Euro-Area Core Inflation Eases But Won’t Stop ECB Raising Rates Currency-Hedged ETF Focused on Japan Set For Best Month of Flows Since 2017 HKEX Looks to Move Away From Fax Machines By Automating ETF Platform Cathie Wood Says Software Stocks Are Next AI Bet After Nvidia Stock Traders Turn to Options for Desperate Chase to Catch the Tech Rally Erdogan’s Win Puts Focus on New Cabinet, Policies: Reaction Wrap Cathie Wood Defends ARKK’s Decision to Dump Nvidia, Citing Chip-Cycle Risks There's a New King in Chip ETFs After Record $805 Million Inflow BCE You are now being redirected to the BCE.ca website (Bell Canada Enterprises), where you can view our Accessibility plan, and submit your feedback using our Accessibility webform. Aya Wagatsuma, Bloomberg News , (Bloomberg) -- The bearish calls against Chinese equities are growing, but one top-performing fund says any further weakness is a chance to buy. Chinese firms offer “pretty good value and earnings in some areas,” with companies such as Alibaba Group Holding Ltd. and Tencent Holdings Ltd. focused on delivering shareholder returns, said Tony Roberts, who manages the Invesco Pacific Fund (UK). “You have just a general discount because US-China tensions are very high at the moment, so I think that also gives us an opportunity in China,” Roberts said in an interview. China’s big tech companies such as Alibaba and Tencent are “just too cheap.” Roberts’ stance sets him apart from bears such as Morgan Stanley and Goldman Sachs Group Inc. which have cut targets for Chinese stocks on concerns about the earnings and currency outlook. Hopes are mounting that policy makers will deliver more stimulus to reverse the tide, after authorities asked the nation’s biggest banks to lower deposit rates to stimulate growth. The Invesco fund has been overweight Chinese equities since January 2022, with the stance reflecting its position in both China and Hong Kong shares, according to Roberts. The vehicle increased its holdings in Alibaba this year as the shares weakened, and the stock accounts for around 2.3% of its total holdings, he said. Alibaba and Tencent “seem to have transitioned from growth stocks to value stocks,” said Roberts. The Invesco fund has returned 8.9% over the past three years to beat 93% of its peers, according to data compiled by Bloomberg. It had £240.7 million ($299 million) of assets as of end-April, its factsheet showed. AI Buzz Roberts is counting on the buzz surrounding all things artificial intelligence to boost Alibaba and Tencent, after the firms moved to integrate the system into their products. Valuations have also become more appealing, with Alibaba trading at 10 times book value and Tencent at 19 times, compared with 24 times for the Hang Seng Tech Index. The Hang Seng Tech Index has fallen more than 5% this year, trailing the Nasdaq 100’s gain of 33% as investors soured on Chinese equities. A slowing recovery, geopolitical risks and a slump in the property sector have damped demand for China’s assets. --With assistance from Jeanny Yu. ©2023 Bloomberg L.P.