Nov. 20, 2024
Fidelity International Increases Exposure to Chinese Assets
TMTPOST -- Fidelity International's fund manager, George Efstathopoulos, announced in a recent speech that he has increased his bet on Chinese A-shares. The position in Chinese stocks has now been raised to a level of "3% to 3.5%." Notably, in September this year, Efstathopoulos made significant gains by betting on the Hong Kong stock market. His latest move focuses on mid-cap stocks listed on the Chinese mainland, with a particular emphasis on the CSI 500 Index. Efstathopoulos expressed optimism about China's fiscal stimulus policies, which he believes will support moderate economic growth. He also noted that domestic stocks are more resilient to geopolitical issues. Mid-cap stocks, in particular, are expected to benefit more from the stimulus measures, and the CSI 500 Index could emerge as the biggest winner.
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