Asia funds' China holdings at five year high - HSBC
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ASIA FUNDS' CHINA HOLDINGS AT FIVE YEAR HIGH - HSBC
All the will-they-won't-they and if-so-how-much around China stimulus is at least driving some rebalancing by emerging market fund managers, HSBC say in a note Thursday.
They say global EM funds are now overweight mainland China for the first time in 10 months, and holdings by Asia funds are at five year highs.
Korea, India and Taiwan have suffered from Asia funds' need to make room for China, while southeast Asia has held up better. Global EM funds have also reduced weightings to Latin America.
Chinese policy makers have announced a series of stimulus measures in the past month, driving interest in the market, but also leaving investors waiting for concrete details.
(Alun John)
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