Nicholas Yeo, Aberdeen Asset Management’s Director and Head of Equities for China/Hong Kong, has given a lengthy interview about the Chinese economy plus an update for their Aberdeen Greater China Fund Inc (NYSE: GCH) where he discussed recent volatility in the Chinese stock markets, the possibility of China’s economy growing at a slower pace as the focus shifts towards quality growth and the challenge for investors is to find a way to gain access to quality Chinese stocks.
Yeo mentioned (in a written interview accompanying the audio portion) Chinese stocks that performed well for the Aberdeen Greater China Fund Inc included Swire Properties Limited (HKG: 1972) (4.1% of the fund) who’s share price was aided by improved rental returns from its Hong Kong and China property portfolios while semiconductor assembly equipment maker ASM Pacific Technology Limited (HKG: 0522) (2.0%) which rose due to robust customer demand and a solid order book.
Laggards included apparel retailer Giordano International (OTCMKTS: GRDZF) (1.5%) who’s share price dipped after reporting weaker sales across key markets in the first half of the year (Yeo did comment: “we remain comfortable with the retailer as it remains well-capitalized and free cash-flow margins have improved”) and hotel group Shangri-La Asia Limited (OTCMKTS: SHALY) (1.4%) who’s share price was dampened by start-up expenses for upcoming hotel projects which eroded profits.
To listen to the update and see the slide presentation for Nicholas Yeo’s China Update along with a written interview, go to the website of Aberdeen Asset Management. In addition, check out our China closed-end fund list and China ETF list pages.
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