China

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Chinese equity star manager Diamond Lee leaves OMGI

Veteran China equity star manager Diamond Lee has left Old Mutual Global Investors to pursue “a career outside of asset management”, the group has announced. Lee was the manager of OMGI’s £47.1m China Equity fund. He was poached by OMGI in November 2014 from Ignis Asset Management where he spent 18 years as an Asian […]

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HSBC profits disappoint ahead of ‘bumpier’ financial times

HSBC has reported a lower-than-expected 2015 pre-tax profit for the end of 2015, as the bank sees a “bumpier” financial environment ahead. The bank said profit before tax was $18.87bn (£13.28bn) for 2015 against $18.7bn the year before. Net profit for 2015 dropped 1.2 per cent to $13.52bn from the previous year. HSBC group chief […]

Sector focus: China’s overlooked bright spots are cause for optimism

Global markets had a difficult start to the year, this time led down by China. The country’s ongoing growth and currency concerns undoubtedly played a part but the poor implementation of a market circuit breaker made it much worse, prompting fears about liquidity. But why does China matter so much? Some say it is because the global economy is still […]

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China shares plunge 6% amid capital outflow concerns

The Chinese stockmarket has been hit by a steep loss of 6.4 per cent as large equity outflows and oil price falls continue to worry investors. The benchmark Shanghai Composite ended 6.42 per cent at 2,749.79, its lowest point since early December 2014 and the biggest one-day drop since the 7 per cent fall on 7 […]

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China reports slowest GDP growth in 25 years

China’s economy grew by 6.9 per cent during a turbulent 2015, the slowest growth rate recorded by the country in a quarter of a century. The figure is down from 7.3 per cent in 2014 and is the lowest reported by China since 1990. Growth throughout the year was 7 per cent in Q1 and […]

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Stephanie Flanders: China can deal with ‘serious financial problems’

China will continue to be the “elephant in the room” in the markets but worries over the country’s structural challenges will have less global impact, says JP Morgan’s Stephanie Flanders. Flanders, the chief market strategist for Europe at JP Morgan Asset Management, says if and when investors gain more confidence in the consumption-led recovery in the […]

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China scraps trading ‘circuit breakers’

China has scrapped the ‘circuit breakers’ it introduced at the start of the week that intended to reduce market volatility, after two days of market closure. The circuit breakers were introduced to minimise market losses and meant a 15 minute halt to trading after a 5 per cent fall in the market and a stop to the […]