Tag Archives: asian

Hedge funds turn to Asia – and airlines

 

New York’s hottest young hedge funds are turning their attention towards Asian equities and airlines for the next big trade.

 

At Sohn Next Wave, held in New York’s Lincoln Centre ahead of the prestigious Sohn Investment conference, Chinese travel agent Ctrip, Indian telco Bharti Infratel, Japanese property company Goldstar and US airline JetBlue were the best trades touted.

 

Jason Karp, of $1.3 billion Tourbillon Capital Partners, could hardly contain his enthusiasm for the enormous potential of Nasdaq-listed Chinese travel company Ctrip.

 

As China’s middle-class grows, so does its propensity to travel. While China as a nation spends more on travel than other countries, on a per capita basis, it spends the least.

 

“Just imagine when the per-person spend on travel catches up,” Karp says. “There are very few companies that can give you 20 to 40 per cent growth in the past and in the future.”

 

Karp expects revenue for Ctrip to reach $7.3 billion in 2020, from less than $1 billion today, and says it is a Chinese version of runaway online travel stock Priceline, but with higher growth and a bigger market.

 

As these factors change, Ctrip’s revenue could grow by seven or eight times.


Read more:  http://www.smh.com.au/

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No Flash Boys in #China’s Sleepy Over-the-Counter Markets

Shanghai’s over-the-counter equity market was almost deserted on a weekday morning last week. Two cleaning ladies swept the floor of a trading hall devoid of brokers or computers, while a woman at an information desk ate breakfast and talked on her mobile phone.

During four visits this year to the market, set up in 2012 in an industrial park a half-hour’s drive from the city’s main stock exchange, no prospective investors were in evidence. Fewer than one-third of the 150 companies listed on two large screens have ever traded, according to ChinaScope Financial Ltd., a Shanghai-based data provider.

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China’s Li Doesn’t Believe His Own Numbers

China’s Premier Li Keqiang isn’t the sort of man to blush in public. But yesterday, when he went in front of China’s national legislature and targeted 7.5% growth in gross domestic product for 2014, he should have. The problem isn’t the number — most economists agree that 7.5% is a manageable if difficult goal. Rather, the issue is that Li Keqiang himself doesn’t believe in the accuracy of Chinese GDP statistics.

That, at least, is what he told then-U.S. ambassador to China Clark Randt over dinner on Mar. 12, 2007. At the time, Li was the Secretary General of Liaoning Province, and widely viewed as a potential successor to Chinese President Hu Jintao. According to a Mar. 15, 2007, declassified U.S. diplomatic cable (released by Wikileaks) recounting the dinner, a “smiling” Li declared that Chinese GDP figures were “man-made” and therefore unreliable — “for reference only.”

 

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Yuan’s sharp drop puts investors on alert for end of strengthening trend

The yuan has recently been something of a safe haven among emerging-market currencies, yet market participants have learned from a bloody lesson over the past week that it is no longer an easy, one-way bet.

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Why Is China’s Economy Still Showing Signs Of Overheating Despite Slower Growth?

The People’s Republic of China’s (PRC) economy has shown signs of overheating despite a sharp slowdown in economic growth, suggesting that, constrained by the supply of labor, its potential growth rate might have fallen significantly from its past level. With the priorities of the PRC’s authorities shifting from raising economic growth to curbing inflation, they are expected to change their stance on macroeconomic policy, including monetary policy, from easing to tightening. As a result, the PRC economy is likely to slow in 2014.

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Weiqi :: Hearts of black and white

In Stanley Kubrick’s 2001: A Space Odyssey (1968), the super computer HAL easily checkmates astronaut Frank Poole. In real life, the victory of machine over man came true in 1997, when Deep Blue defeated chess world champion Garry Kasparov.

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China January lending soars to four-year high

China’s banks disbursed the most loans in any month in four years in January, a surge that suggests the world’s second-biggest economy may not be cooling as much as some fear.

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