February 2025

February 2025

Gold price hit multiples record high in 2024, supported by geopolitical tensions and central banks buying demand, being one of the best-performing...

January 2025

Despite global equity market’s historical high allocations to US equities, the elevated Treasury yields, as the market prices out the probability of...

December 2024

Review of Market Performance: Although inflationary and recessionary concerns in the US abated in 2024, investors continued to grapple with...

December 2024

Global investment in US equities is at historic highs, driven by positive momentum as the holiday season nears. Treasury yields have dropped following...

November 2024

Donald Trump’s recent win in the US presidential election could point to trade policy uncertainty, including higher tariffs, which are broadly...

October 2024

Chinese equities performed strongly, thanks to the unexpected, consecutive, and massive support measures announced by policymakers. However,...

October 2024

Executive Summary  US: A front-loaded pace of monetary easing The US Fed’s larger-than-expected 50bp rate cut in September was a surprise,...

September 2024

Asian equity markets rallied last week, mainly driven by several supportive measures from Chinese policymakers. In light of these positive surprises,...

September 2024

The expected rate cuts in the US will continue to benefit Hong Kong equities, as a large part of the territory’s sectors are interest-rate...

August 2024

Fears of a US recession following a weak US jobs report and the unwinding of the yen carry trade due to a hawkish Bank of Japan have caused turmoil in...

July 2024

Greater China equities moved sideways in June as investors awaited key messages from the Third Plenum. Macroeconomic data remained weak, and there is...

June 2024

Executive Summary US: Moderating inflation paving a rate cut path, but the last mile remains bumpyThe upside surprise on inflation and job...

June 2024

Money continues to flow back to Greater China equities, and while their valuations have improved, they are still below their historical average. The...

May 2024

Following the correction in the US equities market, flows in Asia are shifting from the higher beta markets – such as Japan, Taiwan, and India, to...

May 2024

At Value Partners, we believe that the best way to invest in China is through an actively managed total-return approach that favours stable,...

May 2024

Ricky Tang, Head of Client Portfolio Management at Value Partners, shares his latest insights on the Japanese yen and the Japan REITs market: ...

April 2024

There are signs of a gradual economic recovery in China, including improving PMI numbers and better-than-expected GDP. Investor sentiment has bottomed...

March 2024

Louis So, our Co-Chairman & Co-Chief Investment Officer, shares his latest insights on China's equity market, the following 5 key factors to see...

March 2024

In China, company earnings are bottoming, and macro data are gradually improving. Separately, the country’s Two Sessions revealed economic targets...

February 2024

Executive SummaryUS: More patience for a policy pivotSofter prints in US inflation and the Fed’s dovish tone in 4Q23 have buoyed...

February 2024

In China, the government continued to provide liquidity and support to the market, and earnings downgrades are expected to bottom. However, sentiment...

January 2024

In China, although economic data remains weak, there are early signs of stabilization and gradual recovery. Additionally, the government continues to...

January 2024

The global and regional macroeconomic and geopolitical factors which had significant influences on Asian assets in 2023, will continue to drive...

December 2023

Our investment director and head of Multi-Asset, Kelly Chung, shares her latest insights on different asset classes. In China, we expect economic...

November 2023

Our investment director and head of Multi-Asset, Kelly Chung, shares her latest insights on different asset classes. In China, the government gave a...

October 2023

US: Rates to stay restrictiveDespite the overall restrictive monetary tone for most of the year, economic data for the US has remained...

October 2023

Our investment director and head of Multi-Asset, Kelly Chung, shares her latest insights on different asset classes. Although market sentiment toward...

September 2023

Our investment director and head of Multi-Asset, Kelly Chung, shares her latest insights on different asset classes. In China, there has been...

August 2023

Our investment director and head of Multi-Asset, Kelly Chung, shares her latest insights on different asset classes. In China, there was a significant...

July 2023

Our investment director and head of Multi-Asset, Kelly Chung, shares her latest insights on different asset classes. Investors are worried about a...

July 2023

US: Retaining a tightening bias post rate skip in June The US Fed paused its interest rate hikes in June, ending a series of 10 consecutive rate...

June 2023

Our investment director and head of Multi-Asset, Kelly Chung, shares her latest insights on different asset classes.  AI-related technology has...

May 2023

Our investment director and head of Multi-Asset, Kelly Chung, shares her latest insights on different asset classes. The Hong Kong/China market has...

April 2023

Our investment director and head of Multi-Asset, Kelly Chung, shares her latest insights on different asset classes. While China’s economy is...

March 2023

Our investment director and head of Multi-Asset, Kelly Chung, shares her latest insights on different asset classes. Asia equities corrected amid...

March 2023

Three key points for this article:The business-friendly and pragmatic new leadership team looks at consumption and technology innovation to...

March 2023

US: Sticky inflation and slowing growth momentum Strong US job and PMI data have surprised the market on the upside, with the 10-year US treasury...

February 2023

Our investment director and head of Multi-Asset, Kelly Chung, shares her latest insights on different asset classes. The Chinese equities market has...

February 2023

What’s the immediate impact: The speed of China’s policy changes and reopening has surpassed the expectations of many. With the effects of Covid...

January 2023

Our investment director and head of Multi-Asset, Kelly Chung, shares her latest insights on different asset classes. Global investors are quickly...

December 2022

Investors have been hit by a perfect storm in 2022. The Asian market, as represented by the MSCI Asia ex Japan Index, has declined 32% in the first...

December 2022

The much-anticipated Central Economic Working Conference (CEWC) of China was concluded in Beijing on 16 December 2022. While no specific GDP growth...

December 2022

Our investment director and head of Multi-Asset, Kelly Chung, shares her latest insights on different asset classes. China’s equities market...

December 2022

Government policy reversed after the 20th National Congress of the CCP After the 20th National Congress of the CCP, the Chinese government issued a...

December 2022

Understanding the importance of economic security / Value Partners Group  After seeing impressive growth over the years, China now faces...

November 2022

November has been a roller-coaster month for China investors. The initial market hype – stimulated by the fine-tuning measures to anti-Covid...

November 2022

Our investment director and head of Multi-Asset, Kelly Chung, shares her latest insights on different asset classes. In China, Covid controls and...

November 2022

There has been a dramatic change in market sentiment over the last two weeks, with policymakers in China unleashing different sets of policy support...

November 2022

What happened? On 11 November 2022, it was reported that the PBoC and the CBIRC had jointly issued a notice containing 16 supportive measures for the...

November 2022

The market was desperately hoping for the US Federal Reserve (the US Fed) to pivot, but those hopes faded as chairman Powell delivered hawkish...

November 2022

On 12 September 2019, The Economist published an article titled “Austria’s 100-year bond has delivered stunning returns”, with the subtitle...

October 2022

Policy Matters: 20th party congress reaffirms development and its focus on technology innovation The 20th party congress of the Communist Party of...

October 2022

Committed to investing in and nurturing Hong Kong’s next generation of young professionals, Value Partners is pleased to support the ‘University...

October 2022

Our investment director and head of Multi-Asset, Kelly Chung, shares her latest insights on different asset classes. Investor sentiment toward the...

September 2022

Our investment director and head of Multi-Asset, Kelly Chung, shares her latest insights on different asset classes. Investor sentiment toward the...

September 2022

US CPI slightly decelerated to 8.3% in August from 8.5% in the previous month1, but the figure is still more than expected as investors await signs...

September 2022

The Wall Street Journal recently reported that the US Federal Reserve Chairman Jerome Powell scrapped his original address at the Jackson Hole...

August 2022

We are pleased to announce that Value Partners Group Limited (Hong Kong stock code: 806) was named as the Outstanding ESG Performer of the Year –...

August 2022

Our investment director and head of Multi-Asset, Kelly Chung, shares her latest insights on different asset classes. She also explains why there is a...

August 2022

Navigating The Transition To Moderate Growth And High Inflation Fed pivot remains in debate The FOMC raised fed fund rates by 225 bps this year....

August 2022

Singapore’s real estate investment trusts (REITs) that focus on retail properties have performed well this year despite the volatile market...

July 2022

Sentiment towards China’s healthcare sector has improved, driven by easing regulatory concerns and continued improvement in the country’s Covid...

July 2022

 Our investment director and head of Multi-Asset, Kelly Chung, shares her latest insights on different asset classes. She also explains...

July 2022

As markets evolve and more corporate disclosures have become available, Environmental, Social and Governance (“ESG”) considerations have also...

July 2022

Identifying Silver Linings Amidst The Volatility Volatility was carried into 2022, with Asian markets broadly under pressure in the year’s first...

June 2022

Although the current macro backdrop does not bode well for markets, investors should consider an Asia-focused dynamic multi-asset strategy that keeps...

June 2022

Global markets have become volatile amid inflationary pressures and tighter monetary conditions. Inflation has also started to hurt Asia markets, with...

June 2022

Investor sentiment toward Greater China equities improved on the back of China’s supportive policies and economic resumption.However, inflation...

May 2022

Investors are now concerned with various risk factors, including the aggressive rate hikes by global central banks to curb inflation, heightened...

May 2022

Sentiment toward Greater China remains subdued amid ongoing concerns over China’s zero Covid strategy.However, China is expected to roll out...

May 2022

Executive Summary: Marco headwinds persisting Be prepared for (more) U.S. rate hikes 1Q22 was marked by heightened market volatility due to the...

April 2022

Several uncertainties have weighed on investor sentiment since the beginning of 2022. Following the events of the military conflicts between Russia...

April 2022

The surging Omicron cases in China and resulting lockdowns have become the largest headwind to the country’s economy.In Southeast Asia,...

April 2022

Since the beginning of 2022, global markets have been marked by heightened market volatility due to the military tensions between Ukraine and Russia...

April 2022

In March, ongoing geopolitical tensions between the US and China and regulatory uncertainty continued to weigh on China’s healthcare industry. ...

March 2022

Tensions between Russia and Ukraine have exacerbated inflationary concerns globally.That said, China and some parts of Asia are in a better...

March 2022

China’s National People’s Congress (NPC) kicked off its annual gathering in Beijing on 5 March 2022. The government has set...

March 2022

Where do we stand on China’s volatile markets? The increasing COVID infections in China and resulting lockdowns have further complicated the macro...

March 2022

While markets globally have been impacted by the geopolitical tensions and ongoing inflationary concerns in the US, we view that our China- and...

March 2022

What is the metaverse? The metaverse has become a hot topic over the past year, with various tech giants citing it as the future of digital life....

February 2022

Investors are rotating from growth to value on the back of the faster-than-expected tightening by the US Fed.In China, the government has...

February 2022

A step forward in policy fine-tuning U.S. entering a tightening cycle; volatility remains Inflation in the U.S. and the pace of Fed’s rate hikes...

January 2022

With growth stability as the key policy agenda for China in 2022, we are seeing more signals from the government that it has been giving more signs...

January 2022

In China, the country has started to gradually implement both fiscal and monetary stimulus to support the economy. Regulatory concerns have also...

January 2022

Increased interest and awareness in ESG, coupled with innovation and technology, have created new long-term secular trends and investment...

December 2021

1. The metaverse will remain a key investment theme Although the metaverse is in its early stages of development, it has become a hot topic in the...

December 2021

The new Omicron variant sent shockwaves to global markets towards the end of November.Short-term volatility remains as investors continue to be...

December 2021

Crouching Tiger, Hidden Gems 2021 was a year of divergence and extremes. Equity market performances were largely diverged, with developed markets,...

December 2021

Value Partners’ Senior Director of Operations Mr. Kuan Yu Oh joined a group of panelists to speak at a panel during the IR Annual Symposium 2021,...

November 2021

Moderating growth and inflation continue to be key concerns in markets.Investors have become defensive and high quality securities have become in...

November 2021

Although there were expectations for improved relations between the US and China under Joe Biden’s administration, trade relations have not changed...

November 2021

Value Partners’ Co-Chairman and Co-Chief Investment Officer Dato’ Seri Cheah Cheng Hye recently joined leading China-focused executives and...

November 2021

Distorted valuations but be selective Inflation expectations in the driving seatThe third quarter of 2021 was characterized by further growth...

November 2021

Frank Tsui, our Senior Fund Manager and Head of ESG Investments, shared with the Hong Kong Economic Times how Value Partners applies Environmental,...

October 2021

Sentiment turned sour amid concerns over Evergrande and a tighter liquidity outlook. Investors have moved towards the more defensive parts of the...

September 2021

Sentiment has improved in most markets in Asia as the Fed remained its accommodative stance.As short-term volatility is expected to continue,...

September 2021

Established in 1993, Value Partners Group (stock code: 00806) is the first asset management group listed on the Main Board of the Hong Kong Stock...

August 2021

Preface: The year of normalization  Some semblance of normalcy returned during the first half this year, as the global vaccine rollout has...

August 2021

Markets were down in Asia, especially for Greater China markets, as the regulatory crackdown on various sectors in China has dampened investor...

August 2021

In a recent exclusive interview with Hong Kong Economic Times, Value Partners’ Co-Chairman and Co-Chief Investment Officer Dato’ Seri Cheah Cheng...

July 2021

Frank Tsui, managing director and head of ESG investment at Value Partners Group, shared his insights on the ESG investing landscape in China market...

July 2021

  Executive Summary: policy to drive sentiment  The vaccination rollout and easing of mobility restrictions have reset global growth...

June 2021

May was a month of mixed signals from the ongoing global economic recovery, resurging COVID cases and inflationary concerns.But we continue to be...

May 2021

Value Partners & Oxford Metrica has co-launched a white paper China healthcare innovation the key to value. China's Grey Bomb Cries Out For...

May 2021

With the advent of Covid-19, the healthcare sector has become a spotlight for investors last year, as various healthcare-related companies accelerated...

May 2021

Risks continue to loom Asia, with the surge of commodity prices adding to inflationary concerns.But we continue to be cautiously optimistic of the...

April 2021

Highlights We believe there are still scopes for 10-year U.S. Treasury yield to go higher at end-2021, though some consolidation may occur in the...

April 2021

Dynamic allocation proves to be an approach to flatten your roller coaster ride in the volatile Asian market into a pleasurable Ferris wheel...

April 2021

The pace of yield curve steepening turned less violent than some previous sessions, giving the global bond market a breather.Closer to home,...

March 2021

The Asia Pacific region has historically provided some of the highest dividend paying stocks. However, with much of the region’s markets heavily...

March 2021

The global economic recovery gains momentum, but investors are now concerned about the challenges that follow.As the macro outlook turns benign,...

March 2021

Value sectors in Hong Kong/China equities are still attractive after several rally sessions. Rotation is more likely across sectors and styles than a...

February 2021

Valuations indeed heightened after the rally post pandemic. As we factor in China’s continued and resilient macro recovery, ample liquidity backdrop...

February 2021

Known for its volatility, lack of transparency and still-evolving regulatory environment, China’s onshore equity market can be rather scary for even...

February 2021

China’s first-in, first-out case ensured its supply to the world undisturbed, enabling the country to take market share from others. Even better,...

January 2021

Entering into vaccine-driven normalization 2020 closed with a diminishing risk premium, as vaccine hopes and expectations of a growth rebound...

January 2021

China continues to be a favored destination for global investors, following its effective virus control, vigorous manufacturing activities and healthy...

January 2021

The dual circulation strategy is at the core of China's economic development for the next five years and onwards. The circulation’s internal loop...

January 2021

Vaccines, coupled with continuing support from central banks, shall lend support to extend the momentum of investors’ risk appetite in 2021. Our...

January 2021

The year 2021 is poised for a restart. Vaccination and other signs of relief permit the world to start envisioning recovery beyond the dreadful COVID...

December 2020

China’s economy, hardened thanks to resiliency in domestic demand and consumption reshoring to the mainland, is primed for a sustained recovery path...

November 2020

Trump’s potential refusal to concede, uncooperative response, and the Senate’s election outcome could spike the near-term market volatility, as...

October 2020

 Value Partners & Oxford Metrica has co-launched a white paper China healthcare innovation the key to value.China healthcare offers...

October 2020

A slew of uncertainties on the top of investors’ minds includes the upcoming U.S. presidential election and the intensifying tensions between the...

October 2020

Asian credit continued its recovery, albeit at a slower pace. In the 3Q20, the asset class returned 2.1%, with the JACI Investment Grade Index and the...

October 2020

Economic recovery accelerates Although the pandemic continues to have a major impact on the global economy, a positive outlook is still in place for...

September 2020

COVID-19 may lead to social instability in some countries, but the prospects for the China market remain strong for many reasons, says our Co-Chairman...

September 2020

The onset of COVID-19 has exposed the inadequacy of the global health infrastructure – China is not an exception. In addition to demographics...

September 2020

We spot two forces that draw capital in and out Asian markets – Investors are wary of the economic recovery in some countries, such as India and...

August 2020

We recognize a growing number of uncertainties taking a toll on the outlook for the world economy, which in our view did not derail the opportunity...

August 2020

Investors continue to take solace in the positive surprises in the macro data, which has printed with recovery signs since May.  points to China’s...

August 2020

We broadly categorize the backdrop facing equity investors into four key points that impact the markets during and after the pandemic. China emerges...

July 2020

Upbeat macroeconomic data, expectation of a V-shaped recovery and earnings downward revision to bottom collectively provided a tailwind to global...

July 2020

Continued growth in China’s asset management industry on the back of economic development and wealth accumulation, coupled with industry...

July 2020

Nowadays, policy easing is a universal way to land the global economy. Yet, with a varying level of liquidity among countries, traditional sources of...

July 2020

In planning investments, investors must deal with two new norms in the world: the near-term behavioral change due to COVID-19 and the increased...

June 2020

The COVID-19 pandemic has fueled the demand for investing in safe haven assets like gold. Year-to-date, gold assets has outran the major risky assets...

June 2020

The Sino-U.S. tension and potential restriction on tech know-how creates uncertainty. Kelly Chung, Senior Fund Manager, examines the post-pandemic...

May 2020

 Active ownership and shareholder engagement are ubiquitous among equity managers. Within the credit space, engagement is believed to be a...

May 2020

In this Q&A, Yu Chen Jun, Senior Fund Manager, provides his insights on the implications of the yearly gathering for the Chinese financial assets...

May 2020

Flushed with ample liquidity, investors in many markets enjoyed a relief rally in April. Our Senior Fund Manager Kelly Chung discusses in this edition...

May 2020

 Neither developed nor emerging markets is immune to the unexpected virus hit. Although the world’s growth outlook in 2020 turned doom amid...

April 2020

Amid the setback brought by COVID19, the world is experiencing a harrowing rise in unemployment and a total shock from demand and supply. Dato’ Seri...

April 2020

The market sees low clarity under unprecedented challenges. The public health crisis first disrupted the supply chain and quarantined workers in...

April 2020

 In this edition of the Multi-Asset Perspective, our Senior Fund Manager Kelly Chung takes note of what comes next after panic sell down...

April 2020

 We hope you stay healthy and safe during these most difficult days.As value investors, we observe bargains surfacing from irrational...

March 2020

Malaysia Newspaper The Star published on March 28 an article featuring our Co-Chairman and Co-Chief Investment Officer Dato’ Seri Cheah Cheng...

March 2020

The Chinese term for crisis 危机 (pronounced ”wēi jī“) is composed of two characters, the first, meaning danger and the second, meaning...

March 2020

 The cocktail of plummeting US Treasury yields and tumbling oil prices have shaken investor confidence. Much of these concerns have also...

March 2020

In this edition of the Multi-Asset Perspective, our Senior Fund Manager Kelly Chung takes note of heightened risks in the market. China / Hong...

March 2020

Hong Kong Economic Times today published a front-page story featuring Value Partners’ house view amid the coronavirus outbreak. Our Co-Chairman and...

March 2020

While fears of widespread coronavirus take a toll on the global economy, Jason Yan, Senior Fund Manager, shares his outlook for the Asian credit...

March 2020

 The coronavirus is spreading beyond China’s borders. While the risks of the viral outbreak still underlie the financial market, we would...

February 2020

As the number infected with new coronavirus in China continues to rise, panic over the outbreak has triggered a global risk-off, with Asian markets...

February 2020

Concern over the recent coronavirus outbreak has mounted, dampening both sentiment as well as markets. As preventive measures/quarantines against the...

January 2020

Mixed signals and prolonged discussions of the U.S.-China trade talk continued to take center stage throughout the fourth quarter. As an initial...

December 2019

In this edition of the Multi-Asset Perspective, our Senior Fund Manager Kelly Chung said as U.S.-China trade negotiations is moving towards a positive...

December 2019

 A spate of market events – sliding Purchase Managers’ Index (PMI) and yield curve inversion – is consideredsigns of economic downturn....

November 2019

The city’s social unrest approaches to its fifth month without apparent signs of impending cessation. The economy has been continuously hit by...

November 2019

The 4G technology has been dominating the mobile market, but 5G technology’s imminent arrival is expected to revolutionize the industry with its...

November 2019

In this edition of the Multi-Asset Perspective, our Senior Fund Manager Kelly Chung said positive developments in U.S.-China trade negotiations boost...

November 2019

Global purchasing managers' index data, indicating the prevailing direction of manufacturing activities and economy, plunged below the alarming...

October 2019

In this edition of the Multi-Asset Perspective, our Senior Fund Manager Kelly Chung said valuation has reached a historical low level in mainland...

October 2019

Global bond markets experienced an eventful third quarter with the 10-year Treasury yield falling below the 2-year Treasury yield for the first time...

September 2019

In this edition of the Multi-Asset Perspective, our Senior Fund Manager Kelly Chung said amid weakening investment sentiment and economic data,...

August 2019

In this edition of the Multi-Asset Perspective, our Senior Fund Manager Kelly Chung said emerging market ex-Asia equities and gold tend to outperform...

July 2019

Despite current US-China trade frictions, our Equity Investment Director Chung Man Wing believes China A-shares and Hong Kong’s stock market are...

July 2019

In this edition of the Multi-Asset Perspective, our Senior Fund Manager Kelly Chung said the market sentiment has improved on the trade war truce and...

July 2019

Over the second quarter, markets have been dominated by volatility with increased tariffs, concerns over escalating trade war that will disrupt the...

June 2019

In this edition of the Multi-Asset Perspective, our Senior Fund Manager Kelly Chung said global markets have entered risk-off mood in June while...

May 2019

In this edition of the Multi-Asset Perspective, our Senior Fund Manager Kelly Chung shares her latest thoughts on a number of key asset classes and...

May 2019

Five Myths about China‘s EconomyMyth 1: China has a dangerous overhang of debt Debt levels in China appear to have climbed to dizzying heights...

May 2019

Stock markets around the world descended into a state of panic this week after Sino-US trade talks took a turn for the worst.Hopes of the two...

April 2019

Over the first quarter, global economic developments have been eventful yet positive, in our view. Both broad Asian bond market and U.S. treasury...

April 2019

In this edition of the Multi-Asset Perspective, our Senior Fund Manager Kelly Chung shares her latest thoughts on a number of key asset classes and...

April 2019

The argument that China’s property market is always one step away from disaster has always been a constant topic of discussion within the...

March 2019

As capital continues to flock towards risk assets globally, our Senior Fund Manager Kelly Chung shares her outlook on a number of key asset classes...

March 2019

China wrapped up its annual National People’s Congress (NPC) last week in what was one of most highly anticipated events this year. To help our...

March 2019

Turbulence amid grey skies. That was the overriding theme in financial markets in the second half of 2018 as a number of surprises rocked already...

February 2019

In this edition of the Multi-Asset Perspective, our Senior Fund Manager Kelly Chung shares her latest thoughts on the outlook of a number of key asset...

January 2019

In the latest edition of the Multi-Asset Perspective, our Senior Fund Manager Kelly Chung shares her thoughts on the outlook of a number of key asset...

January 2019

With a volatile 2018 that proved to be difficult to navigate now firmly behind us, the biggest question market participants are asking is whether 2019...

December 2018

Our Senior Fund Manager Kelly Chung shares her latest multi-asset outlook and insights in a new monthly series exclusive to the Value Partners...

September 2018

Below is an excerpt of the keynote address by our Chairman Dato’ Seri Cheah Cheng-Hye at Sir John Templeton Investment Roundtable 2018.China –...