SMIC, China’s largest contract chipmaker, has shot up 62.14% so far this year, followed by a 56.23% rise by Xiaomi.“China’s competitiveness in electric vehicles and autonomous driving is reaching a world-class level," said Park Yeon-joo, an analyst at Mirae Asset Securities, who recently toured Chinese EV makers.“Tesla’s weak earnings are bringing attention to the valuation appeal of Chinese automakers.”TRADING VOLUMELast month, South Korean investors’ trading in Greater China stocks, including equity funds, soared 179% to $782 million from the previous month by volume.
South Korea’s equity funds, tracking Chinese stocks, have seen a net inflow of 214.4 billion won ($148 million) in the past one month, reversing prolonged outflows in what had been dubbed “China fund run,” according to financial industry sources on Wednesday.
Average six-month returns of overseas equity funds (%) China 43.56 Europe 13.70 US 13.08 Japan 6.61 Vietnam 4.37 South Korea 1.60 India -9.61 As of March 11 (Source: FnGuide) China’s so-called Terrific 10 -- a group of tech giants likened to the Magnificent 7 on Wall Street – have posted double-digit gains year-to-date.
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