will come to a level when they_老虎社区_美港股上老虎

AdrianTin
2021-03-25

will come to a level when they love again :)

Foreign Investors Are Falling Out of Love With China’s Top Stock

China’s largest stockKweichou Moutai Co.is rapidly losing appeal among overseas investors, with a re

Foreign Investors Are Falling Out of Love With China’s Top Stock

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With the selloff, foreign ownership of Moutai has fallen to 7.6%, its lowest level in over two years, according to data compiled by Bloomberg. It was the most-sold stock by foreigners between February 19 and March 17, with nearly 8.3 billion yuan ($1.3 billion) worth offloaded.</p>\n<p>Moutai’s multifold gains over the past several years have been driven by institutional money, with fund managerspiling infor fear of losing out among peers because of insufficient exposure. However that same momentum has workedagainstthe stock as investors race to sell the most expensive corners of the market amid surging U.S. Treasury yields damp risk appetite.</p>\n<p>Fading Spark</p>\n<p>Shares of the company, which makes the popular Chinese white liquor baijiu, are trading at 46 times estimated earnings for this year. That’s well above their five-year average of 30 times and the 27 times multiple of global alcohol giant Diageo Plc.</p>\n<p>“Anyone who has any sense of responsibility toward clients’ returns would not be rationally picking up shares now,” said Dong Baozhen, fund manager at Lingtongshengtai Asset Management. “Though some are still religiously holding onto the shares, I don’t see why anyone would find the company captivating at current valuations.”</p>\n<p>As the largest component of numerous Chinese stock indexes, the decline in Moutai has dragged on the overall market. The CSI 300 Index is down 5.4% so far in 2020, while the Shanghai Composite Index has lost 3.1%.</p>\n<p>The slide in Moutai has also taken a toll onlocal fundmanagers. The E FundBlue ChipSelected Mixed Fund, whose largest holding is Moutai, is down more than 20% in the past six weeks.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Foreign Investors Are Falling Out of Love With China’s Top Stock</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nForeign Investors Are Falling Out of Love With China’s Top Stock\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-25 10:56 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-03-25/foreign-investors-are-falling-out-of-love-with-china-s-top-stock?srnd=premium-asia><strong>bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>China’s largest stockKweichou Moutai Co.is rapidly losing appeal among overseas investors, with a recent selling spree helping to wipe out a year-to-date gain of 30% as the nation’s most prominent ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-03-25/foreign-investors-are-falling-out-of-love-with-china-s-top-stock?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/aba16b4f88c90908701f4ff26fee613c","relate_stocks":{},"source_url":"https://www.bloomberg.com/news/articles/2021-03-25/foreign-investors-are-falling-out-of-love-with-china-s-top-stock?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1176645291","content_text":"China’s largest stockKweichou Moutai Co.is rapidly losing appeal among overseas investors, with a recent selling spree helping to wipe out a year-to-date gain of 30% as the nation’s most prominent momentum trade unwinds.\nAfter surging to a record high on Feb. 10, the $380 billion liquor maker is currently trading near the same level at which it closed 2020. With the selloff, foreign ownership of Moutai has fallen to 7.6%, its lowest level in over two years, according to data compiled by Bloomberg. It was the most-sold stock by foreigners between February 19 and March 17, with nearly 8.3 billion yuan ($1.3 billion) worth offloaded.\nMoutai’s multifold gains over the past several years have been driven by institutional money, with fund managerspiling infor fear of losing out among peers because of insufficient exposure. However that same momentum has workedagainstthe stock as investors race to sell the most expensive corners of the market amid surging U.S. Treasury yields damp risk appetite.\nFading Spark\nShares of the company, which makes the popular Chinese white liquor baijiu, are trading at 46 times estimated earnings for this year. That’s well above their five-year average of 30 times and the 27 times multiple of global alcohol giant Diageo Plc.\n“Anyone who has any sense of responsibility toward clients’ returns would not be rationally picking up shares now,” said Dong Baozhen, fund manager at Lingtongshengtai Asset Management. “Though some are still religiously holding onto the shares, I don’t see why anyone would find the company captivating at current valuations.”\nAs the largest component of numerous Chinese stock indexes, the decline in Moutai has dragged on the overall market. The CSI 300 Index is down 5.4% so far in 2020, while the Shanghai Composite Index has lost 3.1%.\nThe slide in Moutai has also taken a toll onlocal fundmanagers. The E FundBlue ChipSelected Mixed Fund, whose largest holding is Moutai, is down more than 20% in the past six weeks.","news_type":1},"isVote":1,"tweetType":1,"viewCount":52,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":35,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}

Foreign Investors Are Falling Out of Love With China’s Top Stock

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