SHANGHAI - As the world awaited definitive results from the US presidential election, Chinese investors betting on the re-election of Mr Donald Trump sent shares of a Shenzhen-listed air traffic control software firm soaring on Wednesday .
"With Trump, Chinese companies don't know where the next hit is coming from and that makes it hard for them to make decisions about allocating capital," said Mr Will Malcolm, portfolio manager at Aviva Investors. Amid talk of Sino-US financial decoupling, China has accelerated reforming its capital markets, giving foreigners easier access to its stocks and bonds while promoting international use of the yuan.
A rising yuan, high yields and inclusion in major global indexes have also fuelled interest in Chinese government bonds, pushing total foreign holdings of its interbank market bonds to near 3 trillion yuan. Mr Ben Zhou, Hong Kong-based managing director of Warburg Pincus, said Sino-US tensions have had little impact on the US firm's China strategy or confidence in China.