Russia-Ukraine conflict: Chinese stocks slide with reports of Moscow asking Beijing for help
A few minutes every morning is all you need.
Stay up to date on the world's Headlines and Human Stories. It's fun, it's factual, it's fluff-free.
Since last year, there have been quite a few hesitations among investors when it comes to Chinese stocks. First, it was the crackdown across the private sector that was creating these question marks. Then came the COVID stance and curbs. Now, there’s fear that Chinese companies will be on the receiving end of Western sanctions after Russia asked China to help with the Ukraine war.
With this, banks like JP Morgan downgraded nearly 30 Chinese stocks in the US and Hong Kong, and Chinese stocks plunged, which led to 78 billionaires all having about US$52 billion wiped off their net worth.
Key comments:
“Investors are likely to demand a long period of calm before returning en masse to the country. With so many factors at play putting renewed pressure on Chinese equity markets, it’s not surprising to see the local assets underperform many global peers,” said Julien Lafargue, chief market strategist at Barclays Private Bank.
“We are still avoiding Chinese stocks. There are too many question marks,” said John Plassard, a director at Mirabaud & Cie.
You drive the stories at TMS. DM us which headline you want us to explain, or email us.
Comments ()