Pandemic-fuelled turbulence and policy risk concerns will have little impact on the long-term investment value of the China stock market, making it attractive to international investors.
After a stellar 2020, Japan's pensions titan GPIF is returning more down-to-earth numbers. For analysts it allows the dust to settle to see if its long-term strategies are really working.
Some short-term re-positioning may be needed, but as regulations become clearer, the valuation of Chinese stocks, especially in the tech sector, remains attractive, experts said.
The pension fund bowed to retail investor pressure and broadened its investment range into local stocks. Its policy reversal could set the stage for more populist pressure.
Cathay Life and Shin Kong Life have been upping their exposure to emerging market bonds. They and Fubon Life have also generated strong returns from high-dividend stocks.
Fund managers, already concerned about Beijing’s intervention in the stock market, won’t welcome a proposed index circuit breaker.