Macquarie Investment Management Senior Portfolio Manager Sam Le Cornu recently appeared on “Asia Edge” to discuss the Asian stocks he’s bullish on which include those in the South Korean beauty industry, the Chinese insurance sector and the Macau gaming industry.
To begin with, Le Cornu pointed out that Chinese tourism numbers are up with Chinese consumers increasingly discovering Korean cosmetics for the first time and they are getting hooked – meaning recurring earnings for these companies. In the Chinese insurance sector, he has also been invested in China Taiping Insurance Holdings Co Ltd (HKG: 0966) for a long time and sees pension and other reforms for insurance and annuity products (e.g. schemes to defer taxes etc) as making the insurance sector a long term buy and hold. Finally, Le Cornu believes the Macau casino sector could be very interesting after February (Chinese New Year) as while the VIP market is very soft, he thinks the union pay and smoking ban issues will not have as big of an impact as some fear.
You can also watch Buy Macau Names in March: Macquarie’s Le Cornu on Bloomberg Business.
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