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Yahoo
30-06-2025
- Business
- Yahoo
Analysis-Chinese money fires up Hong Kong shares
By Samuel Shen and Summer Zhen SHANGHAI/HONG KONG (Reuters) -Chinese investors are piling into Hong Kong shares lured by lower valuations and the city's strategic position in China's growing rivalry with the United States. A record $90 billion of cash from the mainland has driven a stellar 21% rally in Hong Kong stocks in the first half of 2025, reshaping the landscape of a market foreign investors have avoided for several years. "The Hong Kong stock market is being repriced by mainland money," said Chen Dong, fund manager at Hangzhou Ultraviolet Private Fund. Chinese money "is gushing in from various directions in a gold rush," he said. In stark contrast, China's benchmark CSI 300 has barely moved. Disillusioned with the languid market, low returns and a stuttering domestic economy, domestic investors have shifted money from onshore A-shares to Hong Kong-listed equities, where stocks typically trade at a discount. Hong Kong's H-share market has gained from robust flows via the cross-border link Stock Connect, a bumper string of initial public offerings (IPOs) and global investors diversifying away from a weakening U.S. dollar. For 40-year-old Chinese investor Zhu Haifeng, Hong Kong equities now account for 80% of his portfolio. For a dual-listed company, "you certainly want to pay less for the same assets," said Zhu, who bought Hong Kong-listed shares of Tsingtao Brewery and Guangzhou Baiyunshan Pharmaceutical - both trading at a sharp discount to their Shanghai-traded counterparts. Mainland investors via Stock Connect now contribute to 50% of Hong Kong's daily stock turnover, up from around 30% at the beginning of 2024, Societe Generale estimates. Institutional money is gushing in too, causing the gap in dual-listed stocks to compress, although China's capital controls ensure some variance remains. The average premium of China's A-shares over Hong Kong's H-shares - traditionally high due to bigger volumes and activity in China - has narrowed to a five-year low of under 30%. RALLY HAS LEGS The tighter spreads potentially reduce the incentives for mainland investors to buy H-shares, but analysts expect Hong Kong's bull run to continue. U.S. President Donald Trump's erratic policies, fresh U.S. rate cuts and bets on China's technological innovations will drive more money into the former British colony. High-dividend bank shares in Hong Kong have attracted yield-focused investors such as Ping An Insurance and China Life, as long-term treasury yields flirt with record lows. The dividend yield of an index tracking Hong Kong-listed Chinese companies stands at 3.7%, higher than the 2.9% ratio for Chinese benchmark CSI 300 according to LSEG data. That compares with China's 10-year bond yield of 1.65%. Hong Kong has evolved into a proxy of "national champions," Linda Lam, head of equity advisory for North Asia at UBP said, referring to Hong Kong's tech-heavy listings. In comparison, mainland A-shares have a lot more macro-sensitive sectors, weighing on investor sentiment, she said. Goldman Sachs this month published a list of 10 "prominent" Chinese companies with "buy" recommendations, most of which are not listed on the mainland. They include Tencent Holdings, Alibaba Group and Xiaomi - companies invested in artificial intelligence and holding sway in China's tech war with the United States. Guo Changzhen, a retail investor based in China's central Henan province, started buying Hong Kong's high-dividend shares late last year. "Chinese bond yields are low, deposit rates are low, so where else do you put money without too much risk-taking," said Guo, who owns Chinese companies listed in Hong Kong but not at home. Wang Yi, chief investment officer of CSOP Asset Management, said he remains bullish on Hong Kong stocks. "We have seen more global investors turning their attention back to the market," he said.
Reuters
30-06-2025
- Business
- Reuters
Chinese money fires up Hong Kong shares
SHANGHAI/HONG KONG, June 30 (Reuters) - Chinese investors are piling into Hong Kong shares lured by lower valuations and the city's strategic position in China's growing rivalry with the United States. A record $90 billion of cash from the mainland has driven a stellar 21% rally in Hong Kong stocks in the first half of 2025, reshaping the landscape of a market foreign investors have avoided for several years. "The Hong Kong stock market is being repriced by mainland money," said Chen Dong, fund manager at Hangzhou Ultraviolet Private Fund. Chinese money "is gushing in from various directions in a gold rush," he said. In stark contrast, China's benchmark CSI 300 (.CSI300), opens new tab has barely moved. Disillusioned with the languid market, low returns and a stuttering domestic economy, domestic investors have shifted money from onshore A-shares to Hong Kong-listed equities, where stocks typically trade at a discount. Hong Kong's H-share market (.HSCE), opens new tab has gained from robust flows via the cross-border link Stock Connect, a bumper string of initial public offerings (IPOs) and global investors diversifying away from a weakening U.S. dollar. For 40-year-old Chinese investor Zhu Haifeng, Hong Kong equities now account for 80% of his portfolio. For a dual-listed company, "you certainly want to pay less for the same assets," said Zhu, who bought Hong Kong-listed shares of Tsingtao Brewery and Guangzhou Baiyunshan Pharmaceutical - both trading at a sharp discount to their Shanghai-traded counterparts. Mainland investors via Stock Connect now contribute to 50% of Hong Kong's daily stock turnover, up from around 30% at the beginning of 2024, Societe Generale estimates. Institutional money is gushing in too, causing the gap in dual-listed stocks to compress, although China's capital controls ensure some variance remains. The average premium of China's A-shares over Hong Kong's H-shares (.HSCAHPI), opens new tab - traditionally high due to bigger volumes and activity in China - has narrowed to a five-year low of under 30%. The tighter spreads potentially reduce the incentives for mainland investors to buy H-shares, but analysts expect Hong Kong's bull run to continue. U.S. President Donald Trump's erratic policies, fresh U.S. rate cuts and bets on China's technological innovations will drive more money into the former British colony. High-dividend bank shares in Hong Kong have attracted yield-focused investors such as Ping An Insurance and China Life ( opens new tab, as long-term treasury yields flirt with record lows. The dividend yield of an index tracking Hong Kong-listed Chinese companies (.HSCE), opens new tab stands at 3.7%, higher than the 2.9% ratio for Chinese benchmark CSI 300 (.CSI300), opens new tab according to LSEG data. That compares with China's 10-year bond yield of 1.65%. Hong Kong has evolved into a proxy of "national champions," Linda Lam, head of equity advisory for North Asia at UBP said, referring to Hong Kong's tech-heavy listings. In comparison, mainland A-shares have a lot more macro-sensitive sectors, weighing on investor sentiment, she said. Goldman Sachs this month published a list of 10 "prominent" Chinese companies with "buy" recommendations, most of which are not listed on the mainland. They include Tencent Holdings ( opens new tab, Alibaba Group ( opens new tab and Xiaomi ( opens new tab - companies invested in artificial intelligence and holding sway in China's tech war with the United States. Guo Changzhen, a retail investor based in China's central Henan province, started buying Hong Kong's high-dividend shares late last year. "Chinese bond yields are low, deposit rates are low, so where else do you put money without too much risk-taking," said Guo, who owns Chinese companies listed in Hong Kong but not at home. Wang Yi, chief investment officer of CSOP Asset Management, said he remains bullish on Hong Kong stocks. "We have seen more global investors turning their attention back to the market," he said.
Zawya
30-06-2025
- Business
- Zawya
Chinese money fires up Hong Kong shares
SHANGHAI/HONG KONG - Chinese investors are piling into Hong Kong shares lured by lower valuations and the city's strategic position in China's growing rivalry with the United States. A record $90 billion of cash from the mainland has driven a stellar 21% rally in Hong Kong stocks in the first half of 2025, reshaping the landscape of a market foreign investors have avoided for several years. "The Hong Kong stock market is being repriced by mainland money," said Chen Dong, fund manager at Hangzhou Ultraviolet Private Fund. Chinese money "is gushing in from various directions in a gold rush," he said. In stark contrast, China's benchmark CSI 300 has barely moved. Disillusioned with the languid market, low returns and a stuttering domestic economy, domestic investors have shifted money from onshore A-shares to Hong Kong-listed equities, where stocks typically trade at a discount. Hong Kong's H-share market has gained from robust flows via the cross-border link Stock Connect, a bumper string of initial public offerings (IPOs) and global investors diversifying away from a weakening U.S. dollar. For 40-year-old Chinese investor Zhu Haifeng, Hong Kong equities now account for 80% of his portfolio. For a dual-listed company, "you certainly want to pay less for the same assets," said Zhu, who bought Hong Kong-listed shares of Tsingtao Brewery and Guangzhou Baiyunshan Pharmaceutical - both trading at a sharp discount to their Shanghai-traded counterparts. Mainland investors via Stock Connect now contribute to 50% of Hong Kong's daily stock turnover, up from around 30% at the beginning of 2024, Societe Generale estimates. Institutional money is gushing in too, causing the gap in dual-listed stocks to compress, although China's capital controls ensure some variance remains. The average premium of China's A-shares over Hong Kong's H-shares - traditionally high due to bigger volumes and activity in China - has narrowed to a five-year low of under 30%. RALLY HAS LEGS The tighter spreads potentially reduce the incentives for mainland investors to buy H-shares, but analysts expect Hong Kong's bull run to continue. U.S. President Donald Trump's erratic policies, fresh U.S. rate cuts and bets on China's technological innovations will drive more money into the former British colony. High-dividend bank shares in Hong Kong have attracted yield-focused investors such as Ping An Insurance and China Life, as long-term treasury yields flirt with record lows. The dividend yield of an index tracking Hong Kong-listed Chinese companies stands at 3.7%, higher than the 2.9% ratio for Chinese benchmark CSI 300 according to LSEG data. That compares with China's 10-year bond yield of 1.65%. Hong Kong has evolved into a proxy of "national champions," Linda Lam, head of equity advisory for North Asia at UBP said, referring to Hong Kong's tech-heavy listings. In comparison, mainland A-shares have a lot more macro-sensitive sectors, weighing on investor sentiment, she said. Goldman Sachs this month published a list of 10 "prominent" Chinese companies with "buy" recommendations, most of which are not listed on the mainland. They include Tencent Holdings, Alibaba Group and Xiaomi - companies invested in artificial intelligence and holding sway in China's tech war with the United States. Guo Changzhen, a retail investor based in China's central Henan province, started buying Hong Kong's high-dividend shares late last year. "Chinese bond yields are low, deposit rates are low, so where else do you put money without too much risk-taking," said Guo, who owns Chinese companies listed in Hong Kong but not at home. Wang Yi, chief investment officer of CSOP Asset Management, said he remains bullish on Hong Kong stocks. "We have seen more global investors turning their attention back to the market," he said. (Reporting by Samuel Shen and Summer Zhen; Additional reporting by Jiaxing Li; Editing by Vidya Ranganathan and Jacqueline Wong)
Yahoo
30-06-2025
- Business
- Yahoo
Analysis-Chinese money fires up Hong Kong shares
By Samuel Shen and Summer Zhen SHANGHAI/HONG KONG (Reuters) -Chinese investors are piling into Hong Kong shares lured by lower valuations and the city's strategic position in China's growing rivalry with the United States. A record $90 billion of cash from the mainland has driven a stellar 21% rally in Hong Kong stocks in the first half of 2025, reshaping the landscape of a market foreign investors have avoided for several years. "The Hong Kong stock market is being repriced by mainland money," said Chen Dong, fund manager at Hangzhou Ultraviolet Private Fund. Chinese money "is gushing in from various directions in a gold rush," he said. In stark contrast, China's benchmark CSI 300 has barely moved. Disillusioned with the languid market, low returns and a stuttering domestic economy, domestic investors have shifted money from onshore A-shares to Hong Kong-listed equities, where stocks typically trade at a discount. Hong Kong's H-share market has gained from robust flows via the cross-border link Stock Connect, a bumper string of initial public offerings (IPOs) and global investors diversifying away from a weakening U.S. dollar. For 40-year-old Chinese investor Zhu Haifeng, Hong Kong equities now account for 80% of his portfolio. For a dual-listed company, "you certainly want to pay less for the same assets," said Zhu, who bought Hong Kong-listed shares of Tsingtao Brewery and Guangzhou Baiyunshan Pharmaceutical - both trading at a sharp discount to their Shanghai-traded counterparts. Mainland investors via Stock Connect now contribute to 50% of Hong Kong's daily stock turnover, up from around 30% at the beginning of 2024, Societe Generale estimates. Institutional money is gushing in too, causing the gap in dual-listed stocks to compress, although China's capital controls ensure some variance remains. The average premium of China's A-shares over Hong Kong's H-shares - traditionally high due to bigger volumes and activity in China - has narrowed to a five-year low of under 30%. RALLY HAS LEGS The tighter spreads potentially reduce the incentives for mainland investors to buy H-shares, but analysts expect Hong Kong's bull run to continue. U.S. President Donald Trump's erratic policies, fresh U.S. rate cuts and bets on China's technological innovations will drive more money into the former British colony. High-dividend bank shares in Hong Kong have attracted yield-focused investors such as Ping An Insurance and China Life, as long-term treasury yields flirt with record lows. The dividend yield of an index tracking Hong Kong-listed Chinese companies stands at 3.7%, higher than the 2.9% ratio for Chinese benchmark CSI 300 according to LSEG data. That compares with China's 10-year bond yield of 1.65%. Hong Kong has evolved into a proxy of "national champions," Linda Lam, head of equity advisory for North Asia at UBP said, referring to Hong Kong's tech-heavy listings. In comparison, mainland A-shares have a lot more macro-sensitive sectors, weighing on investor sentiment, she said. Goldman Sachs this month published a list of 10 "prominent" Chinese companies with "buy" recommendations, most of which are not listed on the mainland. They include Tencent Holdings, Alibaba Group and Xiaomi - companies invested in artificial intelligence and holding sway in China's tech war with the United States. Guo Changzhen, a retail investor based in China's central Henan province, started buying Hong Kong's high-dividend shares late last year. "Chinese bond yields are low, deposit rates are low, so where else do you put money without too much risk-taking," said Guo, who owns Chinese companies listed in Hong Kong but not at home. Wang Yi, chief investment officer of CSOP Asset Management, said he remains bullish on Hong Kong stocks. "We have seen more global investors turning their attention back to the market," he said.
Yahoo
03-04-2025
- Business
- Yahoo
Asian Dividend Stocks: Tsingtao Brewery And 2 Elite Yield Payers
As global markets grapple with economic uncertainty and inflation fears, Asian indices have shown resilience amid fluctuating sentiment driven by trade policy developments and consumer confidence concerns. In such a volatile environment, dividend stocks can offer a measure of stability, providing investors with regular income streams and potential capital appreciation; Tsingtao Brewery and two other elite yield payers stand out as noteworthy options in the Asian market landscape. Name Dividend Yield Dividend Rating Totech (TSE:9960) 3.88% ★★★★★★ Wuliangye YibinLtd (SZSE:000858) 3.93% ★★★★★★ Tsubakimoto Chain (TSE:6371) 4.37% ★★★★★★ Nihon Parkerizing (TSE:4095) 4.15% ★★★★★★ Daito Trust ConstructionLtd (TSE:1878) 4.15% ★★★★★★ GakkyushaLtd (TSE:9769) 4.19% ★★★★★★ China South Publishing & Media Group (SHSE:601098) 3.83% ★★★★★★ Guangxi LiuYao Group (SHSE:603368) 3.37% ★★★★★★ HUAYU Automotive Systems (SHSE:600741) 4.17% ★★★★★★ E J Holdings (TSE:2153) 4.88% ★★★★★★ Click here to see the full list of 1149 stocks from our Top Asian Dividend Stocks screener. Here's a peek at a few of the choices from the screener. Simply Wall St Dividend Rating: ★★★★☆☆ Overview: Tsingtao Brewery Company Limited, along with its subsidiaries, is involved in the production, distribution, wholesale, and retail sale of beer products across Mainland China, Hong Kong, Macau, and internationally with a market cap of HK$98.34 billion. Operations: Tsingtao Brewery Company Limited generates revenue through the production and sale of beer products across various regions including Mainland China, Hong Kong, Macau, and international markets. Dividend Yield: 3.6% Tsingtao Brewery's recent proposal to distribute a total dividend of RMB 3 billion highlights its commitment to returning value to shareholders. Despite a modest dividend yield of 3.62%, the company has maintained stable and reliable payouts over the past decade, supported by earnings but not well-covered by free cash flows, with a high cash payout ratio of 150.9%. While trading below estimated fair value, Tsingtao's earnings growth remains steady at 2% year-on-year. Dive into the specifics of Tsingtao Brewery here with our thorough dividend report. The valuation report we've compiled suggests that Tsingtao Brewery's current price could be quite moderate. Simply Wall St Dividend Rating: ★★★★☆☆ Overview: Advancetek Enterprise Co., Ltd. operates in Taiwan, focusing on the construction, rental, and sale of residential and commercial buildings, with a market cap of NT$29.66 billion. Operations: Advancetek Enterprise Co., Ltd. generates its revenue primarily from its Construction Business, which accounts for NT$8.80 billion, and the Construction Division, contributing NT$474.52 million. Dividend Yield: 4.3% Advancetek Enterprise Ltd. is trading significantly below its estimated fair value, offering potential for value-focused investors. Despite a volatile dividend history over the past decade, dividends are well-covered by earnings and cash flows, with payout ratios of 35.5% and 26.2%, respectively. The dividend yield of 4.32% is lower than top-tier payers in Taiwan but has seen growth over ten years. Recent board meetings and proposed bylaw changes may impact future distributions. Delve into the full analysis dividend report here for a deeper understanding of Advancetek EnterpriseLtd. Our valuation report here indicates Advancetek EnterpriseLtd may be undervalued. Simply Wall St Dividend Rating: ★★★★★☆ Overview: Jess-link Products Co., Ltd. is engaged in providing electronic products and components across Taiwan, China, the United States, Japan, Thailand, and other international markets with a market cap of NT$17.03 billion. Operations: Jess-link Products Co., Ltd. generates revenue primarily from its Electronic Components Manufacturing segment, which amounts to NT$6.45 billion. Dividend Yield: 5% Jess-link Products Co., Ltd. trades substantially below its estimated fair value, appealing to value investors. Its dividend yield of 5.02% ranks among the top 25% in Taiwan, though past payments have been volatile with some growth over ten years. Recent earnings growth of 66.9% supports dividends, covered by an 80.6% payout ratio and an 87.2% cash payout ratio, indicating sustainability despite historical unreliability in payment consistency. Unlock comprehensive insights into our analysis of Jess-link Products stock in this dividend report. Our valuation report unveils the possibility Jess-link Products' shares may be trading at a discount. Reveal the 1149 hidden gems among our Top Asian Dividend Stocks screener with a single click here. Are any of these part of your asset mix? Tap into the analytical power of Simply Wall St's portfolio to get a 360-degree view on how they're shaping up. Simply Wall St is a revolutionary app designed for long-term stock investors, it's free and covers every market in the world. Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include SEHK:168 TWSE:1442 and TWSE:6197. Have feedback on this article? Concerned about the content? with us directly. 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