As a swift and broad rally in Asian stock markets after China’s reopening from COVID curbs peters out, investors are targeting beaten down stocks in sectors including retail, hospitality and technology to lead a narrower advance from here.
For investors looking for their next leg of growth, analysts recommend sectors that stand to benefit from the pent-up demand of Chinese consumers, such as hospitality firms, retailers, and industries that struggled during the economic downturn, including online recruiters and shopping mall operators.
Man Wing Chung, lead manager for Value Partners’ Asia ex-Japan Fund is adding to technology hardware and semiconductor stocks in Taiwan, saying their “valuation has already priced in a lot of the negative sentiment on the downward tech cycle.” Driven by expectations that people in the world’s most populous country will rush to travel and socialise after three years of the most stringent pandemic lockdowns, shares of Macau gaming companies Sands China, Wynn Macau, MGM China have all more than doubled in the past three months.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Source: globeandmail - 🏆 5. / 92 Read more »
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
Source: globebusiness - 🏆 31. / 66 Read more »
Source: globeandmail - 🏆 5. / 92 Read more »
Source: globeandmail - 🏆 5. / 92 Read more »