Here Are the Winners and Losers From China’s Surging Yuan

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Here Are the Winners and Losers From China’s Surging Yuan

Bloomberg2021-06-02

H shares, property developers to see advantages in yuan gain Exporters that rely on price edge will face squeeze: analysts Sign up for Next China, a weekly email on where the nation stands now and ...

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FrickL
·2021-06-02
Great piece
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AnT
·2021-06-02
Great article to read indeed
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1
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Zhengxi
·2021-06-02
Like and comment pls
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Lapicheeks
·2021-06-02
????
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yong9900
·2021-06-02
,???
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TeslaLegend
·2021-06-02
I’m buying the dip ?Please like and comment!
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CorrineNaNa
·2021-06-02
Good
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- CorrineNaNa:
  Good
  2021-06-02
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A2Hong
·2021-06-02
Nice
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1
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WuM
·2021-06-02
And the currency war continues. Good luck consumers.
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Racheltestin
·2021-06-02
Like and comment
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- yyhwin:
  Comment back please
  2021-06-02
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- yyhwin:
  Comment back please
  2021-06-02
  Reply
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- WuM:
  done! reply pls!
  2021-06-02
  Reply
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BBBBBBBBBB
·2021-06-02
Like and comment to the moon!
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3
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- BBBBBBBBBB:
  Ok
  2021-06-02
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- yyhwin:
  Well done reply please
  2021-06-02
  Reply
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- WuM:
  done! reply pls!
  2021-06-02
  Reply
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Jltan81
·2021-06-02
[Smile]
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- Jltan81:
  [Smile]
  2021-06-03
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erichosk
·2021-06-02
Importers and consumers will benefit but exporters will suffer.
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Soksok
·2021-06-02
Liked
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Sfun
·2021-06-02
reply
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2
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clementboey
·2021-06-02
Wow
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deadcow
·2021-06-02
reply pls
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- KenKai:
  D
  2021-06-02
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starrys
·2021-06-02
Like n share pls
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4
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Aloylim1117
·2021-06-02
Comment or like pls
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- deadcow:
  reply pls
  2021-06-02
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jijimo
·2021-06-02
Like and comment
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5
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- Aloylim1117:
  Done
  2021-06-02
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- Sfun:
  reply here
  2021-06-02
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The correlation between China’s benchmark CSI 300 Index and the onshore yuan’s strength is near the highest in seven months, while the Hang Seng Index is also most-linked to the currency’s movements since February, data compiled by Bloomberg show. But not every share is a beneficiary.\nLikely winners include companies that can take advantage of currency dichotomies, including Chinese property developers with sizable dollar debt and companies that generate most revenue in the mainland but are Hong Kong-listed, according to analysts.\nOn the flip side of the currency equation are exporters, whose products will be less price-competitive when sold in foreign markets.\nThe Chinese yuan has surged 12% against the dollar since May 2020, with the rally accelerating recently amid inflation concerns and the greenback’s weakness. Some investors expect the yuan rally continuing, despite the central bank taking a visiblemeasureto stem gains.\n“The central bank’s intervention will only slow down the pace of appreciation, not the direction of the appreciation,” said Jackson Wong, an asset management director at Amber Hill Capital Ltd. “A rising Chinese currency historically has a positive correlation with both mainland and Hong Kong benchmark indexes, though some sectors will suffer.”\nWho wins:\n\nDollar-debt borrowers: Companies to benefit most directly will be those that generate revenue in yuan while borrowing in foreign currencies, as debt is reduced. According toBloomberg data, about 24% of the total outstanding dollar-denominated bonds issued by all Chinese companies are from developers.\nHong Kong-listed Chinese companies, or H shares: A stronger yuan bodes well for the H shares, as well as valuations and foreign inflows, said CICC analysts including Hanfeng Wang. While some investors may worry that a strong yuan could discourage southbound inflows because of potential foreign-exchange losses, historical experience suggests those inflows are positively correlated with the yuan, as a stronger yuan usually suggests better growth prospect for Chinese assets, Wang said.\nConsumer companies: A rising currency enhances purchasing power and consumer confidence, which benefits the consumer sector, said Yang Delong, chief economist at First Seafront Fund Management.\n\nWho loses:\n\nLabor-intensive exporters: Manufacturers such astoy makers, which rely on cheap prices to attract customers and generate most revenue overseas, may take a blow from a stronger yuan, Zheng Jiawei, analyst at East Asia Qianhai Securities, wrote in a research report.\nForeign-asset owners: Textile manufacturers and machinery companies will suffer, as they tend to have large proportions of assets denominated in foreign currencies, said Cliff Zhao, head of research at CCB International.\n\n— With assistance by Jeanny Yu, and Amy Li","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":113670492,"gmtCreate":1622614710616,"gmtModify":1704187366948,"author":{"id":"3582151718585472","authorId":"3582151718585472","name":"FrickL","avatar":"https://community-static.tradeup.com/news/5ea265fa5b5f17bb783942b290d93a0d","vip":1,"crmLevel":6,"crmLevelSwitch":0,"idStr":"3582151718585472","authorIdStr":"3582151718585472"},"htmlText":"Great piece&nbsp;","listText":"Great piece&nbsp;","text":"Great piece","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/113670492","repostId":1199569503,"repostType":4,"repost":{"id":"1199569503","kind":"news","pubTimestamp":1622599866,"share":"https://ttm.financial/m/news/1199569503?lang=&edition=fundamental","pubTime":"2021-06-02 10:11","market":"hk","language":"en","title":"Here Are the Winners and Losers From China’s Surging Yuan","url":"https://stock-news.laohu8.com/highlight/detail?id=1199569503","media":"Bloomberg","summary":"H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will ","content":"<ul>\n <li>H shares, property developers to see advantages in yuan gain</li>\n <li>Exporters that rely on price edge will face squeeze: analysts</li>\n</ul>\n<p><i>Sign up for Next <a href=\"https://laohu8.com/S/CAAS\">China</a>, a weekly email on where the nation stands now and where it's going next.</i></p>\n<p>China’s rising yuan has given equity investors a touchstone in their search for potential winners and losers.</p>\n<p>Benchmark stock indexes in both Hong Kong and on the mainland have been buoyed by the recent strength of theyuan, as capital chases assets denominated in a strengthening currency. The correlation between China’s benchmark CSI 300 Index and the onshore yuan’s strength is near the highest in seven months, while the Hang Seng Index is also most-linked to the currency’s movements since February, data compiled by Bloomberg show. But not every share is a beneficiary.</p>\n<p><img src=\"https://static.tigerbbs.com/b8a32602a4dc3c262575f6ea29a99597\" tg-width=\"620\" tg-height=\"348\" referrerpolicy=\"no-referrer\">Likely winners include companies that can take advantage of currency dichotomies, including Chinese property developers with sizable dollar debt and companies that generate most revenue in the mainland but are Hong Kong-listed, according to analysts.</p>\n<p>On the flip side of the currency equation are exporters, whose products will be less price-competitive when sold in foreign markets.</p>\n<p>The Chinese yuan has surged 12% against the dollar since May 2020, with the rally accelerating recently amid inflation concerns and the greenback’s weakness. Some investors expect the yuan rally continuing, despite the central bank taking a visiblemeasureto stem gains.</p>\n<p>“The central bank’s intervention will only slow down the pace of appreciation, not the direction of the appreciation,” said Jackson Wong, an asset management director at Amber <a href=\"https://laohu8.com/S/HIL\">Hill</a> Capital Ltd. “A rising Chinese currency historically has a positive correlation with both mainland and Hong Kong benchmark indexes, though some sectors will suffer.”</p>\n<p>Who wins:</p>\n<ul>\n <li>Dollar-debt borrowers: Companies to benefit most directly will be those that generate revenue in yuan while borrowing in foreign currencies, as debt is reduced. According toBloomberg data, about 24% of the total outstanding dollar-denominated bonds issued by all Chinese companies are from developers.</li>\n <li>Hong Kong-listed Chinese companies, or H shares: A stronger yuan bodes well for the H shares, as well as valuations and foreign inflows, said CICC analysts including Hanfeng Wang. While some investors may worry that a strong yuan could discourage southbound inflows because of potential foreign-exchange losses, historical experience suggests those inflows are positively correlated with the yuan, as a stronger yuan usually suggests better growth prospect for Chinese assets, Wang said.</li>\n <li>Consumer companies: A rising currency enhances purchasing power and consumer confidence, which benefits the consumer sector, said Yang Delong, chief economist at <a href=\"https://laohu8.com/S/FBNC\">First</a> Seafront Fund Management.</li>\n</ul>\n<p>Who loses:</p>\n<ul>\n <li>Labor-intensive exporters: Manufacturers such astoy makers, which rely on cheap prices to attract customers and generate most revenue overseas, may take a blow from a stronger yuan, Zheng Jiawei, analyst at East <a href=\"https://laohu8.com/S/00662\">Asia</a> Qianhai Securities, wrote in a research report.</li>\n <li>Foreign-asset owners: Textile manufacturers and machinery companies will suffer, as they tend to have large proportions of assets denominated in foreign currencies, said Cliff Zhao, head of research at <a href=\"https://laohu8.com/S/00939\">CCB</a> International.</li>\n</ul>\n<p><i>— With assistance by Jeanny Yu, and Amy Li</i></p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Here Are the Winners and Losers From China’s Surging Yuan</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHere Are the Winners and Losers From China’s Surging Yuan\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-02 10:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will face squeeze: analysts\n\nSign up for Next China, a weekly email on where the nation stands now and ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199569503","content_text":"H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will face squeeze: analysts\n\nSign up for Next China, a weekly email on where the nation stands now and where it's going next.\nChina’s rising yuan has given equity investors a touchstone in their search for potential winners and losers.\nBenchmark stock indexes in both Hong Kong and on the mainland have been buoyed by the recent strength of theyuan, as capital chases assets denominated in a strengthening currency. The correlation between China’s benchmark CSI 300 Index and the onshore yuan’s strength is near the highest in seven months, while the Hang Seng Index is also most-linked to the currency’s movements since February, data compiled by Bloomberg show. But not every share is a beneficiary.\nLikely winners include companies that can take advantage of currency dichotomies, including Chinese property developers with sizable dollar debt and companies that generate most revenue in the mainland but are Hong Kong-listed, according to analysts.\nOn the flip side of the currency equation are exporters, whose products will be less price-competitive when sold in foreign markets.\nThe Chinese yuan has surged 12% against the dollar since May 2020, with the rally accelerating recently amid inflation concerns and the greenback’s weakness. Some investors expect the yuan rally continuing, despite the central bank taking a visiblemeasureto stem gains.\n“The central bank’s intervention will only slow down the pace of appreciation, not the direction of the appreciation,” said Jackson Wong, an asset management director at Amber Hill Capital Ltd. “A rising Chinese currency historically has a positive correlation with both mainland and Hong Kong benchmark indexes, though some sectors will suffer.”\nWho wins:\n\nDollar-debt borrowers: Companies to benefit most directly will be those that generate revenue in yuan while borrowing in foreign currencies, as debt is reduced. According toBloomberg data, about 24% of the total outstanding dollar-denominated bonds issued by all Chinese companies are from developers.\nHong Kong-listed Chinese companies, or H shares: A stronger yuan bodes well for the H shares, as well as valuations and foreign inflows, said CICC analysts including Hanfeng Wang. While some investors may worry that a strong yuan could discourage southbound inflows because of potential foreign-exchange losses, historical experience suggests those inflows are positively correlated with the yuan, as a stronger yuan usually suggests better growth prospect for Chinese assets, Wang said.\nConsumer companies: A rising currency enhances purchasing power and consumer confidence, which benefits the consumer sector, said Yang Delong, chief economist at First Seafront Fund Management.\n\nWho loses:\n\nLabor-intensive exporters: Manufacturers such astoy makers, which rely on cheap prices to attract customers and generate most revenue overseas, may take a blow from a stronger yuan, Zheng Jiawei, analyst at East Asia Qianhai Securities, wrote in a research report.\nForeign-asset owners: Textile manufacturers and machinery companies will suffer, as they tend to have large proportions of assets denominated in foreign currencies, said Cliff Zhao, head of research at CCB International.\n\n— With assistance by Jeanny Yu, and Amy Li","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":113666066,"gmtCreate":1622611561055,"gmtModify":1704187318817,"author":{"id":"3578200234343382","authorId":"3578200234343382","name":"AnT","avatar":"https://static.tigerbbs.com/a777c54118c03953e7be94b2700b9768","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":2,"crmLevelSwitch":1,"idStr":"3578200234343382","authorIdStr":"3578200234343382"},"htmlText":"Great article to read indeed","listText":"Great article to read indeed","text":"Great article to read indeed","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/113666066","repostId":1199569503,"repostType":4,"repost":{"id":"1199569503","kind":"news","pubTimestamp":1622599866,"share":"https://ttm.financial/m/news/1199569503?lang=&edition=fundamental","pubTime":"2021-06-02 10:11","market":"hk","language":"en","title":"Here Are the Winners and Losers From China’s Surging Yuan","url":"https://stock-news.laohu8.com/highlight/detail?id=1199569503","media":"Bloomberg","summary":"H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will ","content":"<ul>\n <li>H shares, property developers to see advantages in yuan gain</li>\n <li>Exporters that rely on price edge will face squeeze: analysts</li>\n</ul>\n<p><i>Sign up for Next <a href=\"https://laohu8.com/S/CAAS\">China</a>, a weekly email on where the nation stands now and where it's going next.</i></p>\n<p>China’s rising yuan has given equity investors a touchstone in their search for potential winners and losers.</p>\n<p>Benchmark stock indexes in both Hong Kong and on the mainland have been buoyed by the recent strength of theyuan, as capital chases assets denominated in a strengthening currency. The correlation between China’s benchmark CSI 300 Index and the onshore yuan’s strength is near the highest in seven months, while the Hang Seng Index is also most-linked to the currency’s movements since February, data compiled by Bloomberg show. But not every share is a beneficiary.</p>\n<p><img src=\"https://static.tigerbbs.com/b8a32602a4dc3c262575f6ea29a99597\" tg-width=\"620\" tg-height=\"348\" referrerpolicy=\"no-referrer\">Likely winners include companies that can take advantage of currency dichotomies, including Chinese property developers with sizable dollar debt and companies that generate most revenue in the mainland but are Hong Kong-listed, according to analysts.</p>\n<p>On the flip side of the currency equation are exporters, whose products will be less price-competitive when sold in foreign markets.</p>\n<p>The Chinese yuan has surged 12% against the dollar since May 2020, with the rally accelerating recently amid inflation concerns and the greenback’s weakness. Some investors expect the yuan rally continuing, despite the central bank taking a visiblemeasureto stem gains.</p>\n<p>“The central bank’s intervention will only slow down the pace of appreciation, not the direction of the appreciation,” said Jackson Wong, an asset management director at Amber <a href=\"https://laohu8.com/S/HIL\">Hill</a> Capital Ltd. “A rising Chinese currency historically has a positive correlation with both mainland and Hong Kong benchmark indexes, though some sectors will suffer.”</p>\n<p>Who wins:</p>\n<ul>\n <li>Dollar-debt borrowers: Companies to benefit most directly will be those that generate revenue in yuan while borrowing in foreign currencies, as debt is reduced. According toBloomberg data, about 24% of the total outstanding dollar-denominated bonds issued by all Chinese companies are from developers.</li>\n <li>Hong Kong-listed Chinese companies, or H shares: A stronger yuan bodes well for the H shares, as well as valuations and foreign inflows, said CICC analysts including Hanfeng Wang. While some investors may worry that a strong yuan could discourage southbound inflows because of potential foreign-exchange losses, historical experience suggests those inflows are positively correlated with the yuan, as a stronger yuan usually suggests better growth prospect for Chinese assets, Wang said.</li>\n <li>Consumer companies: A rising currency enhances purchasing power and consumer confidence, which benefits the consumer sector, said Yang Delong, chief economist at <a href=\"https://laohu8.com/S/FBNC\">First</a> Seafront Fund Management.</li>\n</ul>\n<p>Who loses:</p>\n<ul>\n <li>Labor-intensive exporters: Manufacturers such astoy makers, which rely on cheap prices to attract customers and generate most revenue overseas, may take a blow from a stronger yuan, Zheng Jiawei, analyst at East <a href=\"https://laohu8.com/S/00662\">Asia</a> Qianhai Securities, wrote in a research report.</li>\n <li>Foreign-asset owners: Textile manufacturers and machinery companies will suffer, as they tend to have large proportions of assets denominated in foreign currencies, said Cliff Zhao, head of research at <a href=\"https://laohu8.com/S/00939\">CCB</a> International.</li>\n</ul>\n<p><i>— With assistance by Jeanny Yu, and Amy Li</i></p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Here Are the Winners and Losers From China’s Surging Yuan</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHere Are the Winners and Losers From China’s Surging Yuan\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-02 10:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will face squeeze: analysts\n\nSign up for Next China, a weekly email on where the nation stands now and ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199569503","content_text":"H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will face squeeze: analysts\n\nSign up for Next China, a weekly email on where the nation stands now and where it's going next.\nChina’s rising yuan has given equity investors a touchstone in their search for potential winners and losers.\nBenchmark stock indexes in both Hong Kong and on the mainland have been buoyed by the recent strength of theyuan, as capital chases assets denominated in a strengthening currency. The correlation between China’s benchmark CSI 300 Index and the onshore yuan’s strength is near the highest in seven months, while the Hang Seng Index is also most-linked to the currency’s movements since February, data compiled by Bloomberg show. But not every share is a beneficiary.\nLikely winners include companies that can take advantage of currency dichotomies, including Chinese property developers with sizable dollar debt and companies that generate most revenue in the mainland but are Hong Kong-listed, according to analysts.\nOn the flip side of the currency equation are exporters, whose products will be less price-competitive when sold in foreign markets.\nThe Chinese yuan has surged 12% against the dollar since May 2020, with the rally accelerating recently amid inflation concerns and the greenback’s weakness. Some investors expect the yuan rally continuing, despite the central bank taking a visiblemeasureto stem gains.\n“The central bank’s intervention will only slow down the pace of appreciation, not the direction of the appreciation,” said Jackson Wong, an asset management director at Amber Hill Capital Ltd. “A rising Chinese currency historically has a positive correlation with both mainland and Hong Kong benchmark indexes, though some sectors will suffer.”\nWho wins:\n\nDollar-debt borrowers: Companies to benefit most directly will be those that generate revenue in yuan while borrowing in foreign currencies, as debt is reduced. According toBloomberg data, about 24% of the total outstanding dollar-denominated bonds issued by all Chinese companies are from developers.\nHong Kong-listed Chinese companies, or H shares: A stronger yuan bodes well for the H shares, as well as valuations and foreign inflows, said CICC analysts including Hanfeng Wang. While some investors may worry that a strong yuan could discourage southbound inflows because of potential foreign-exchange losses, historical experience suggests those inflows are positively correlated with the yuan, as a stronger yuan usually suggests better growth prospect for Chinese assets, Wang said.\nConsumer companies: A rising currency enhances purchasing power and consumer confidence, which benefits the consumer sector, said Yang Delong, chief economist at First Seafront Fund Management.\n\nWho loses:\n\nLabor-intensive exporters: Manufacturers such astoy makers, which rely on cheap prices to attract customers and generate most revenue overseas, may take a blow from a stronger yuan, Zheng Jiawei, analyst at East Asia Qianhai Securities, wrote in a research report.\nForeign-asset owners: Textile manufacturers and machinery companies will suffer, as they tend to have large proportions of assets denominated in foreign currencies, said Cliff Zhao, head of research at CCB International.\n\n— With assistance by Jeanny Yu, and Amy Li","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":113684357,"gmtCreate":1622610877979,"gmtModify":1704187309481,"author":{"id":"3578560722862530","authorId":"3578560722862530","name":"Zhengxi","avatar":"https://static.tigerbbs.com/b7376c500aadcdbb577b9a6da13c0d41","vip":1,"crmLevel":8,"crmLevelSwitch":0,"idStr":"3578560722862530","authorIdStr":"3578560722862530"},"htmlText":"Like and comment pls&nbsp;","listText":"Like and comment pls&nbsp;","text":"Like and comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/113684357","repostId":1199569503,"repostType":4,"repost":{"id":"1199569503","kind":"news","pubTimestamp":1622599866,"share":"https://ttm.financial/m/news/1199569503?lang=&edition=fundamental","pubTime":"2021-06-02 10:11","market":"hk","language":"en","title":"Here Are the Winners and Losers From China’s Surging Yuan","url":"https://stock-news.laohu8.com/highlight/detail?id=1199569503","media":"Bloomberg","summary":"H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will ","content":"<ul>\n <li>H shares, property developers to see advantages in yuan gain</li>\n <li>Exporters that rely on price edge will face squeeze: analysts</li>\n</ul>\n<p><i>Sign up for Next <a href=\"https://laohu8.com/S/CAAS\">China</a>, a weekly email on where the nation stands now and where it's going next.</i></p>\n<p>China’s rising yuan has given equity investors a touchstone in their search for potential winners and losers.</p>\n<p>Benchmark stock indexes in both Hong Kong and on the mainland have been buoyed by the recent strength of theyuan, as capital chases assets denominated in a strengthening currency. The correlation between China’s benchmark CSI 300 Index and the onshore yuan’s strength is near the highest in seven months, while the Hang Seng Index is also most-linked to the currency’s movements since February, data compiled by Bloomberg show. But not every share is a beneficiary.</p>\n<p><img src=\"https://static.tigerbbs.com/b8a32602a4dc3c262575f6ea29a99597\" tg-width=\"620\" tg-height=\"348\" referrerpolicy=\"no-referrer\">Likely winners include companies that can take advantage of currency dichotomies, including Chinese property developers with sizable dollar debt and companies that generate most revenue in the mainland but are Hong Kong-listed, according to analysts.</p>\n<p>On the flip side of the currency equation are exporters, whose products will be less price-competitive when sold in foreign markets.</p>\n<p>The Chinese yuan has surged 12% against the dollar since May 2020, with the rally accelerating recently amid inflation concerns and the greenback’s weakness. Some investors expect the yuan rally continuing, despite the central bank taking a visiblemeasureto stem gains.</p>\n<p>“The central bank’s intervention will only slow down the pace of appreciation, not the direction of the appreciation,” said Jackson Wong, an asset management director at Amber <a href=\"https://laohu8.com/S/HIL\">Hill</a> Capital Ltd. “A rising Chinese currency historically has a positive correlation with both mainland and Hong Kong benchmark indexes, though some sectors will suffer.”</p>\n<p>Who wins:</p>\n<ul>\n <li>Dollar-debt borrowers: Companies to benefit most directly will be those that generate revenue in yuan while borrowing in foreign currencies, as debt is reduced. According toBloomberg data, about 24% of the total outstanding dollar-denominated bonds issued by all Chinese companies are from developers.</li>\n <li>Hong Kong-listed Chinese companies, or H shares: A stronger yuan bodes well for the H shares, as well as valuations and foreign inflows, said CICC analysts including Hanfeng Wang. While some investors may worry that a strong yuan could discourage southbound inflows because of potential foreign-exchange losses, historical experience suggests those inflows are positively correlated with the yuan, as a stronger yuan usually suggests better growth prospect for Chinese assets, Wang said.</li>\n <li>Consumer companies: A rising currency enhances purchasing power and consumer confidence, which benefits the consumer sector, said Yang Delong, chief economist at <a href=\"https://laohu8.com/S/FBNC\">First</a> Seafront Fund Management.</li>\n</ul>\n<p>Who loses:</p>\n<ul>\n <li>Labor-intensive exporters: Manufacturers such astoy makers, which rely on cheap prices to attract customers and generate most revenue overseas, may take a blow from a stronger yuan, Zheng Jiawei, analyst at East <a href=\"https://laohu8.com/S/00662\">Asia</a> Qianhai Securities, wrote in a research report.</li>\n <li>Foreign-asset owners: Textile manufacturers and machinery companies will suffer, as they tend to have large proportions of assets denominated in foreign currencies, said Cliff Zhao, head of research at <a href=\"https://laohu8.com/S/00939\">CCB</a> International.</li>\n</ul>\n<p><i>— With assistance by Jeanny Yu, and Amy Li</i></p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Here Are the Winners and Losers From China’s Surging Yuan</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHere Are the Winners and Losers From China’s Surging Yuan\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-02 10:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will face squeeze: analysts\n\nSign up for Next China, a weekly email on where the nation stands now and ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199569503","content_text":"H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will face squeeze: analysts\n\nSign up for Next China, a weekly email on where the nation stands now and where it's going next.\nChina’s rising yuan has given equity investors a touchstone in their search for potential winners and losers.\nBenchmark stock indexes in both Hong Kong and on the mainland have been buoyed by the recent strength of theyuan, as capital chases assets denominated in a strengthening currency. The correlation between China’s benchmark CSI 300 Index and the onshore yuan’s strength is near the highest in seven months, while the Hang Seng Index is also most-linked to the currency’s movements since February, data compiled by Bloomberg show. But not every share is a beneficiary.\nLikely winners include companies that can take advantage of currency dichotomies, including Chinese property developers with sizable dollar debt and companies that generate most revenue in the mainland but are Hong Kong-listed, according to analysts.\nOn the flip side of the currency equation are exporters, whose products will be less price-competitive when sold in foreign markets.\nThe Chinese yuan has surged 12% against the dollar since May 2020, with the rally accelerating recently amid inflation concerns and the greenback’s weakness. Some investors expect the yuan rally continuing, despite the central bank taking a visiblemeasureto stem gains.\n“The central bank’s intervention will only slow down the pace of appreciation, not the direction of the appreciation,” said Jackson Wong, an asset management director at Amber Hill Capital Ltd. “A rising Chinese currency historically has a positive correlation with both mainland and Hong Kong benchmark indexes, though some sectors will suffer.”\nWho wins:\n\nDollar-debt borrowers: Companies to benefit most directly will be those that generate revenue in yuan while borrowing in foreign currencies, as debt is reduced. According toBloomberg data, about 24% of the total outstanding dollar-denominated bonds issued by all Chinese companies are from developers.\nHong Kong-listed Chinese companies, or H shares: A stronger yuan bodes well for the H shares, as well as valuations and foreign inflows, said CICC analysts including Hanfeng Wang. While some investors may worry that a strong yuan could discourage southbound inflows because of potential foreign-exchange losses, historical experience suggests those inflows are positively correlated with the yuan, as a stronger yuan usually suggests better growth prospect for Chinese assets, Wang said.\nConsumer companies: A rising currency enhances purchasing power and consumer confidence, which benefits the consumer sector, said Yang Delong, chief economist at First Seafront Fund Management.\n\nWho loses:\n\nLabor-intensive exporters: Manufacturers such astoy makers, which rely on cheap prices to attract customers and generate most revenue overseas, may take a blow from a stronger yuan, Zheng Jiawei, analyst at East Asia Qianhai Securities, wrote in a research report.\nForeign-asset owners: Textile manufacturers and machinery companies will suffer, as they tend to have large proportions of assets denominated in foreign currencies, said Cliff Zhao, head of research at CCB International.\n\n— With assistance by Jeanny Yu, and Amy Li","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":113638652,"gmtCreate":1622608841376,"gmtModify":1704187275154,"author":{"id":"3575264581254782","authorId":"3575264581254782","name":"Lapicheeks","avatar":"https://static.tigerbbs.com/76454d50a63c9120a7a7802595ac3a6a","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3575264581254782","authorIdStr":"3575264581254782"},"htmlText":"????","listText":"????","text":"????","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/113638652","repostId":1199569503,"repostType":4,"repost":{"id":"1199569503","kind":"news","pubTimestamp":1622599866,"share":"https://ttm.financial/m/news/1199569503?lang=&edition=fundamental","pubTime":"2021-06-02 10:11","market":"hk","language":"en","title":"Here Are the Winners and Losers From China’s Surging Yuan","url":"https://stock-news.laohu8.com/highlight/detail?id=1199569503","media":"Bloomberg","summary":"H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will ","content":"<ul>\n <li>H shares, property developers to see advantages in yuan gain</li>\n <li>Exporters that rely on price edge will face squeeze: analysts</li>\n</ul>\n<p><i>Sign up for Next <a href=\"https://laohu8.com/S/CAAS\">China</a>, a weekly email on where the nation stands now and where it's going next.</i></p>\n<p>China’s rising yuan has given equity investors a touchstone in their search for potential winners and losers.</p>\n<p>Benchmark stock indexes in both Hong Kong and on the mainland have been buoyed by the recent strength of theyuan, as capital chases assets denominated in a strengthening currency. The correlation between China’s benchmark CSI 300 Index and the onshore yuan’s strength is near the highest in seven months, while the Hang Seng Index is also most-linked to the currency’s movements since February, data compiled by Bloomberg show. But not every share is a beneficiary.</p>\n<p><img src=\"https://static.tigerbbs.com/b8a32602a4dc3c262575f6ea29a99597\" tg-width=\"620\" tg-height=\"348\" referrerpolicy=\"no-referrer\">Likely winners include companies that can take advantage of currency dichotomies, including Chinese property developers with sizable dollar debt and companies that generate most revenue in the mainland but are Hong Kong-listed, according to analysts.</p>\n<p>On the flip side of the currency equation are exporters, whose products will be less price-competitive when sold in foreign markets.</p>\n<p>The Chinese yuan has surged 12% against the dollar since May 2020, with the rally accelerating recently amid inflation concerns and the greenback’s weakness. Some investors expect the yuan rally continuing, despite the central bank taking a visiblemeasureto stem gains.</p>\n<p>“The central bank’s intervention will only slow down the pace of appreciation, not the direction of the appreciation,” said Jackson Wong, an asset management director at Amber <a href=\"https://laohu8.com/S/HIL\">Hill</a> Capital Ltd. “A rising Chinese currency historically has a positive correlation with both mainland and Hong Kong benchmark indexes, though some sectors will suffer.”</p>\n<p>Who wins:</p>\n<ul>\n <li>Dollar-debt borrowers: Companies to benefit most directly will be those that generate revenue in yuan while borrowing in foreign currencies, as debt is reduced. According toBloomberg data, about 24% of the total outstanding dollar-denominated bonds issued by all Chinese companies are from developers.</li>\n <li>Hong Kong-listed Chinese companies, or H shares: A stronger yuan bodes well for the H shares, as well as valuations and foreign inflows, said CICC analysts including Hanfeng Wang. While some investors may worry that a strong yuan could discourage southbound inflows because of potential foreign-exchange losses, historical experience suggests those inflows are positively correlated with the yuan, as a stronger yuan usually suggests better growth prospect for Chinese assets, Wang said.</li>\n <li>Consumer companies: A rising currency enhances purchasing power and consumer confidence, which benefits the consumer sector, said Yang Delong, chief economist at <a href=\"https://laohu8.com/S/FBNC\">First</a> Seafront Fund Management.</li>\n</ul>\n<p>Who loses:</p>\n<ul>\n <li>Labor-intensive exporters: Manufacturers such astoy makers, which rely on cheap prices to attract customers and generate most revenue overseas, may take a blow from a stronger yuan, Zheng Jiawei, analyst at East <a href=\"https://laohu8.com/S/00662\">Asia</a> Qianhai Securities, wrote in a research report.</li>\n <li>Foreign-asset owners: Textile manufacturers and machinery companies will suffer, as they tend to have large proportions of assets denominated in foreign currencies, said Cliff Zhao, head of research at <a href=\"https://laohu8.com/S/00939\">CCB</a> International.</li>\n</ul>\n<p><i>— With assistance by Jeanny Yu, and Amy Li</i></p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHere Are the Winners and Losers From China’s Surging Yuan\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-02 10:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will face squeeze: analysts\n\nSign up for Next China, a weekly email on where the nation stands now and ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199569503","content_text":"H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will face squeeze: analysts\n\nSign up for Next China, a weekly email on where the nation stands now and where it's going next.\nChina’s rising yuan has given equity investors a touchstone in their search for potential winners and losers.\nBenchmark stock indexes in both Hong Kong and on the mainland have been buoyed by the recent strength of theyuan, as capital chases assets denominated in a strengthening currency. The correlation between China’s benchmark CSI 300 Index and the onshore yuan’s strength is near the highest in seven months, while the Hang Seng Index is also most-linked to the currency’s movements since February, data compiled by Bloomberg show. But not every share is a beneficiary.\nLikely winners include companies that can take advantage of currency dichotomies, including Chinese property developers with sizable dollar debt and companies that generate most revenue in the mainland but are Hong Kong-listed, according to analysts.\nOn the flip side of the currency equation are exporters, whose products will be less price-competitive when sold in foreign markets.\nThe Chinese yuan has surged 12% against the dollar since May 2020, with the rally accelerating recently amid inflation concerns and the greenback’s weakness. Some investors expect the yuan rally continuing, despite the central bank taking a visiblemeasureto stem gains.\n“The central bank’s intervention will only slow down the pace of appreciation, not the direction of the appreciation,” said Jackson Wong, an asset management director at Amber Hill Capital Ltd. “A rising Chinese currency historically has a positive correlation with both mainland and Hong Kong benchmark indexes, though some sectors will suffer.”\nWho wins:\n\nDollar-debt borrowers: Companies to benefit most directly will be those that generate revenue in yuan while borrowing in foreign currencies, as debt is reduced. According toBloomberg data, about 24% of the total outstanding dollar-denominated bonds issued by all Chinese companies are from developers.\nHong Kong-listed Chinese companies, or H shares: A stronger yuan bodes well for the H shares, as well as valuations and foreign inflows, said CICC analysts including Hanfeng Wang. While some investors may worry that a strong yuan could discourage southbound inflows because of potential foreign-exchange losses, historical experience suggests those inflows are positively correlated with the yuan, as a stronger yuan usually suggests better growth prospect for Chinese assets, Wang said.\nConsumer companies: A rising currency enhances purchasing power and consumer confidence, which benefits the consumer sector, said Yang Delong, chief economist at First Seafront Fund Management.\n\nWho loses:\n\nLabor-intensive exporters: Manufacturers such astoy makers, which rely on cheap prices to attract customers and generate most revenue overseas, may take a blow from a stronger yuan, Zheng Jiawei, analyst at East Asia Qianhai Securities, wrote in a research report.\nForeign-asset owners: Textile manufacturers and machinery companies will suffer, as they tend to have large proportions of assets denominated in foreign currencies, said Cliff Zhao, head of research at CCB International.\n\n— With assistance by Jeanny Yu, and Amy Li","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":113875852,"gmtCreate":1622607059076,"gmtModify":1704187239286,"author":{"id":"3581563798792598","authorId":"3581563798792598","name":"yong9900","avatar":"https://static.tigerbbs.com/6bfaed196ec3900a42d2273573aefc17","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3581563798792598","authorIdStr":"3581563798792598"},"htmlText":",???","listText":",???","text":",???","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/113875852","repostId":1199569503,"repostType":4,"repost":{"id":"1199569503","kind":"news","pubTimestamp":1622599866,"share":"https://ttm.financial/m/news/1199569503?lang=&edition=fundamental","pubTime":"2021-06-02 10:11","market":"hk","language":"en","title":"Here Are the Winners and Losers From China’s Surging Yuan","url":"https://stock-news.laohu8.com/highlight/detail?id=1199569503","media":"Bloomberg","summary":"H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will ","content":"<ul>\n <li>H shares, property developers to see advantages in yuan gain</li>\n <li>Exporters that rely on price edge will face squeeze: analysts</li>\n</ul>\n<p><i>Sign up for Next <a href=\"https://laohu8.com/S/CAAS\">China</a>, a weekly email on where the nation stands now and where it's going next.</i></p>\n<p>China’s rising yuan has given equity investors a touchstone in their search for potential winners and losers.</p>\n<p>Benchmark stock indexes in both Hong Kong and on the mainland have been buoyed by the recent strength of theyuan, as capital chases assets denominated in a strengthening currency. The correlation between China’s benchmark CSI 300 Index and the onshore yuan’s strength is near the highest in seven months, while the Hang Seng Index is also most-linked to the currency’s movements since February, data compiled by Bloomberg show. But not every share is a beneficiary.</p>\n<p><img src=\"https://static.tigerbbs.com/b8a32602a4dc3c262575f6ea29a99597\" tg-width=\"620\" tg-height=\"348\" referrerpolicy=\"no-referrer\">Likely winners include companies that can take advantage of currency dichotomies, including Chinese property developers with sizable dollar debt and companies that generate most revenue in the mainland but are Hong Kong-listed, according to analysts.</p>\n<p>On the flip side of the currency equation are exporters, whose products will be less price-competitive when sold in foreign markets.</p>\n<p>The Chinese yuan has surged 12% against the dollar since May 2020, with the rally accelerating recently amid inflation concerns and the greenback’s weakness. Some investors expect the yuan rally continuing, despite the central bank taking a visiblemeasureto stem gains.</p>\n<p>“The central bank’s intervention will only slow down the pace of appreciation, not the direction of the appreciation,” said Jackson Wong, an asset management director at Amber <a href=\"https://laohu8.com/S/HIL\">Hill</a> Capital Ltd. “A rising Chinese currency historically has a positive correlation with both mainland and Hong Kong benchmark indexes, though some sectors will suffer.”</p>\n<p>Who wins:</p>\n<ul>\n <li>Dollar-debt borrowers: Companies to benefit most directly will be those that generate revenue in yuan while borrowing in foreign currencies, as debt is reduced. According toBloomberg data, about 24% of the total outstanding dollar-denominated bonds issued by all Chinese companies are from developers.</li>\n <li>Hong Kong-listed Chinese companies, or H shares: A stronger yuan bodes well for the H shares, as well as valuations and foreign inflows, said CICC analysts including Hanfeng Wang. While some investors may worry that a strong yuan could discourage southbound inflows because of potential foreign-exchange losses, historical experience suggests those inflows are positively correlated with the yuan, as a stronger yuan usually suggests better growth prospect for Chinese assets, Wang said.</li>\n <li>Consumer companies: A rising currency enhances purchasing power and consumer confidence, which benefits the consumer sector, said Yang Delong, chief economist at <a href=\"https://laohu8.com/S/FBNC\">First</a> Seafront Fund Management.</li>\n</ul>\n<p>Who loses:</p>\n<ul>\n <li>Labor-intensive exporters: Manufacturers such astoy makers, which rely on cheap prices to attract customers and generate most revenue overseas, may take a blow from a stronger yuan, Zheng Jiawei, analyst at East <a href=\"https://laohu8.com/S/00662\">Asia</a> Qianhai Securities, wrote in a research report.</li>\n <li>Foreign-asset owners: Textile manufacturers and machinery companies will suffer, as they tend to have large proportions of assets denominated in foreign currencies, said Cliff Zhao, head of research at <a href=\"https://laohu8.com/S/00939\">CCB</a> International.</li>\n</ul>\n<p><i>— With assistance by Jeanny Yu, and Amy Li</i></p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Here Are the Winners and Losers From China’s Surging Yuan</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHere Are the Winners and Losers From China’s Surging Yuan\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-02 10:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will face squeeze: analysts\n\nSign up for Next China, a weekly email on where the nation stands now and ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199569503","content_text":"H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will face squeeze: analysts\n\nSign up for Next China, a weekly email on where the nation stands now and where it's going next.\nChina’s rising yuan has given equity investors a touchstone in their search for potential winners and losers.\nBenchmark stock indexes in both Hong Kong and on the mainland have been buoyed by the recent strength of theyuan, as capital chases assets denominated in a strengthening currency. The correlation between China’s benchmark CSI 300 Index and the onshore yuan’s strength is near the highest in seven months, while the Hang Seng Index is also most-linked to the currency’s movements since February, data compiled by Bloomberg show. But not every share is a beneficiary.\nLikely winners include companies that can take advantage of currency dichotomies, including Chinese property developers with sizable dollar debt and companies that generate most revenue in the mainland but are Hong Kong-listed, according to analysts.\nOn the flip side of the currency equation are exporters, whose products will be less price-competitive when sold in foreign markets.\nThe Chinese yuan has surged 12% against the dollar since May 2020, with the rally accelerating recently amid inflation concerns and the greenback’s weakness. Some investors expect the yuan rally continuing, despite the central bank taking a visiblemeasureto stem gains.\n“The central bank’s intervention will only slow down the pace of appreciation, not the direction of the appreciation,” said Jackson Wong, an asset management director at Amber Hill Capital Ltd. “A rising Chinese currency historically has a positive correlation with both mainland and Hong Kong benchmark indexes, though some sectors will suffer.”\nWho wins:\n\nDollar-debt borrowers: Companies to benefit most directly will be those that generate revenue in yuan while borrowing in foreign currencies, as debt is reduced. According toBloomberg data, about 24% of the total outstanding dollar-denominated bonds issued by all Chinese companies are from developers.\nHong Kong-listed Chinese companies, or H shares: A stronger yuan bodes well for the H shares, as well as valuations and foreign inflows, said CICC analysts including Hanfeng Wang. While some investors may worry that a strong yuan could discourage southbound inflows because of potential foreign-exchange losses, historical experience suggests those inflows are positively correlated with the yuan, as a stronger yuan usually suggests better growth prospect for Chinese assets, Wang said.\nConsumer companies: A rising currency enhances purchasing power and consumer confidence, which benefits the consumer sector, said Yang Delong, chief economist at First Seafront Fund Management.\n\nWho loses:\n\nLabor-intensive exporters: Manufacturers such astoy makers, which rely on cheap prices to attract customers and generate most revenue overseas, may take a blow from a stronger yuan, Zheng Jiawei, analyst at East Asia Qianhai Securities, wrote in a research report.\nForeign-asset owners: Textile manufacturers and machinery companies will suffer, as they tend to have large proportions of assets denominated in foreign currencies, said Cliff Zhao, head of research at CCB International.\n\n— With assistance by Jeanny Yu, and Amy Li","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":113845516,"gmtCreate":1622606295535,"gmtModify":1704187227463,"author":{"id":"3572489627147183","authorId":"3572489627147183","name":"TeslaLegend","avatar":"https://static.tigerbbs.com/180ad6f06095bcbf2b6594d26c494752","vip":1,"hat":"https://static.tigerbbs.com/f84859c65fc2d7681e28f6b8e9b0535a","crmLevel":4,"crmLevelSwitch":1,"idStr":"3572489627147183","authorIdStr":"3572489627147183"},"htmlText":"I’m buying the dip ?Please like and comment!","listText":"I’m buying the dip ?Please like and comment!","text":"I’m buying the dip ?Please like and comment!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/113845516","repostId":1199569503,"repostType":4,"repost":{"id":"1199569503","kind":"news","pubTimestamp":1622599866,"share":"https://ttm.financial/m/news/1199569503?lang=&edition=fundamental","pubTime":"2021-06-02 10:11","market":"hk","language":"en","title":"Here Are the Winners and Losers From China’s Surging Yuan","url":"https://stock-news.laohu8.com/highlight/detail?id=1199569503","media":"Bloomberg","summary":"H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will ","content":"<ul>\n <li>H shares, property developers to see advantages in yuan gain</li>\n <li>Exporters that rely on price edge will face squeeze: analysts</li>\n</ul>\n<p><i>Sign up for Next <a href=\"https://laohu8.com/S/CAAS\">China</a>, a weekly email on where the nation stands now and where it's going next.</i></p>\n<p>China’s rising yuan has given equity investors a touchstone in their search for potential winners and losers.</p>\n<p>Benchmark stock indexes in both Hong Kong and on the mainland have been buoyed by the recent strength of theyuan, as capital chases assets denominated in a strengthening currency. The correlation between China’s benchmark CSI 300 Index and the onshore yuan’s strength is near the highest in seven months, while the Hang Seng Index is also most-linked to the currency’s movements since February, data compiled by Bloomberg show. But not every share is a beneficiary.</p>\n<p><img src=\"https://static.tigerbbs.com/b8a32602a4dc3c262575f6ea29a99597\" tg-width=\"620\" tg-height=\"348\" referrerpolicy=\"no-referrer\">Likely winners include companies that can take advantage of currency dichotomies, including Chinese property developers with sizable dollar debt and companies that generate most revenue in the mainland but are Hong Kong-listed, according to analysts.</p>\n<p>On the flip side of the currency equation are exporters, whose products will be less price-competitive when sold in foreign markets.</p>\n<p>The Chinese yuan has surged 12% against the dollar since May 2020, with the rally accelerating recently amid inflation concerns and the greenback’s weakness. Some investors expect the yuan rally continuing, despite the central bank taking a visiblemeasureto stem gains.</p>\n<p>“The central bank’s intervention will only slow down the pace of appreciation, not the direction of the appreciation,” said Jackson Wong, an asset management director at Amber <a href=\"https://laohu8.com/S/HIL\">Hill</a> Capital Ltd. “A rising Chinese currency historically has a positive correlation with both mainland and Hong Kong benchmark indexes, though some sectors will suffer.”</p>\n<p>Who wins:</p>\n<ul>\n <li>Dollar-debt borrowers: Companies to benefit most directly will be those that generate revenue in yuan while borrowing in foreign currencies, as debt is reduced. According toBloomberg data, about 24% of the total outstanding dollar-denominated bonds issued by all Chinese companies are from developers.</li>\n <li>Hong Kong-listed Chinese companies, or H shares: A stronger yuan bodes well for the H shares, as well as valuations and foreign inflows, said CICC analysts including Hanfeng Wang. While some investors may worry that a strong yuan could discourage southbound inflows because of potential foreign-exchange losses, historical experience suggests those inflows are positively correlated with the yuan, as a stronger yuan usually suggests better growth prospect for Chinese assets, Wang said.</li>\n <li>Consumer companies: A rising currency enhances purchasing power and consumer confidence, which benefits the consumer sector, said Yang Delong, chief economist at <a href=\"https://laohu8.com/S/FBNC\">First</a> Seafront Fund Management.</li>\n</ul>\n<p>Who loses:</p>\n<ul>\n <li>Labor-intensive exporters: Manufacturers such astoy makers, which rely on cheap prices to attract customers and generate most revenue overseas, may take a blow from a stronger yuan, Zheng Jiawei, analyst at East <a href=\"https://laohu8.com/S/00662\">Asia</a> Qianhai Securities, wrote in a research report.</li>\n <li>Foreign-asset owners: Textile manufacturers and machinery companies will suffer, as they tend to have large proportions of assets denominated in foreign currencies, said Cliff Zhao, head of research at <a href=\"https://laohu8.com/S/00939\">CCB</a> International.</li>\n</ul>\n<p><i>— With assistance by Jeanny Yu, and Amy Li</i></p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHere Are the Winners and Losers From China’s Surging Yuan\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-02 10:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will face squeeze: analysts\n\nSign up for Next China, a weekly email on where the nation stands now and ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199569503","content_text":"H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will face squeeze: analysts\n\nSign up for Next China, a weekly email on where the nation stands now and where it's going next.\nChina’s rising yuan has given equity investors a touchstone in their search for potential winners and losers.\nBenchmark stock indexes in both Hong Kong and on the mainland have been buoyed by the recent strength of theyuan, as capital chases assets denominated in a strengthening currency. The correlation between China’s benchmark CSI 300 Index and the onshore yuan’s strength is near the highest in seven months, while the Hang Seng Index is also most-linked to the currency’s movements since February, data compiled by Bloomberg show. But not every share is a beneficiary.\nLikely winners include companies that can take advantage of currency dichotomies, including Chinese property developers with sizable dollar debt and companies that generate most revenue in the mainland but are Hong Kong-listed, according to analysts.\nOn the flip side of the currency equation are exporters, whose products will be less price-competitive when sold in foreign markets.\nThe Chinese yuan has surged 12% against the dollar since May 2020, with the rally accelerating recently amid inflation concerns and the greenback’s weakness. Some investors expect the yuan rally continuing, despite the central bank taking a visiblemeasureto stem gains.\n“The central bank’s intervention will only slow down the pace of appreciation, not the direction of the appreciation,” said Jackson Wong, an asset management director at Amber Hill Capital Ltd. “A rising Chinese currency historically has a positive correlation with both mainland and Hong Kong benchmark indexes, though some sectors will suffer.”\nWho wins:\n\nDollar-debt borrowers: Companies to benefit most directly will be those that generate revenue in yuan while borrowing in foreign currencies, as debt is reduced. According toBloomberg data, about 24% of the total outstanding dollar-denominated bonds issued by all Chinese companies are from developers.\nHong Kong-listed Chinese companies, or H shares: A stronger yuan bodes well for the H shares, as well as valuations and foreign inflows, said CICC analysts including Hanfeng Wang. While some investors may worry that a strong yuan could discourage southbound inflows because of potential foreign-exchange losses, historical experience suggests those inflows are positively correlated with the yuan, as a stronger yuan usually suggests better growth prospect for Chinese assets, Wang said.\nConsumer companies: A rising currency enhances purchasing power and consumer confidence, which benefits the consumer sector, said Yang Delong, chief economist at First Seafront Fund Management.\n\nWho loses:\n\nLabor-intensive exporters: Manufacturers such astoy makers, which rely on cheap prices to attract customers and generate most revenue overseas, may take a blow from a stronger yuan, Zheng Jiawei, analyst at East Asia Qianhai Securities, wrote in a research report.\nForeign-asset owners: Textile manufacturers and machinery companies will suffer, as they tend to have large proportions of assets denominated in foreign currencies, said Cliff Zhao, head of research at CCB International.\n\n— With assistance by Jeanny Yu, and Amy Li","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":113855040,"gmtCreate":1622605453980,"gmtModify":1704187211989,"author":{"id":"3585264675951025","authorId":"3585264675951025","name":"CorrineNaNa","avatar":"https://static.tigerbbs.com/691cc3823ad4a674860add4208e9e99e","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":2,"crmLevelSwitch":0,"idStr":"3585264675951025","authorIdStr":"3585264675951025"},"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/113855040","repostId":1199569503,"repostType":4,"repost":{"id":"1199569503","kind":"news","pubTimestamp":1622599866,"share":"https://ttm.financial/m/news/1199569503?lang=&edition=fundamental","pubTime":"2021-06-02 10:11","market":"hk","language":"en","title":"Here Are the Winners and Losers From China’s Surging Yuan","url":"https://stock-news.laohu8.com/highlight/detail?id=1199569503","media":"Bloomberg","summary":"H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will ","content":"<ul>\n <li>H shares, property developers to see advantages in yuan gain</li>\n <li>Exporters that rely on price edge will face squeeze: analysts</li>\n</ul>\n<p><i>Sign up for Next <a href=\"https://laohu8.com/S/CAAS\">China</a>, a weekly email on where the nation stands now and where it's going next.</i></p>\n<p>China’s rising yuan has given equity investors a touchstone in their search for potential winners and losers.</p>\n<p>Benchmark stock indexes in both Hong Kong and on the mainland have been buoyed by the recent strength of theyuan, as capital chases assets denominated in a strengthening currency. The correlation between China’s benchmark CSI 300 Index and the onshore yuan’s strength is near the highest in seven months, while the Hang Seng Index is also most-linked to the currency’s movements since February, data compiled by Bloomberg show. But not every share is a beneficiary.</p>\n<p><img src=\"https://static.tigerbbs.com/b8a32602a4dc3c262575f6ea29a99597\" tg-width=\"620\" tg-height=\"348\" referrerpolicy=\"no-referrer\">Likely winners include companies that can take advantage of currency dichotomies, including Chinese property developers with sizable dollar debt and companies that generate most revenue in the mainland but are Hong Kong-listed, according to analysts.</p>\n<p>On the flip side of the currency equation are exporters, whose products will be less price-competitive when sold in foreign markets.</p>\n<p>The Chinese yuan has surged 12% against the dollar since May 2020, with the rally accelerating recently amid inflation concerns and the greenback’s weakness. Some investors expect the yuan rally continuing, despite the central bank taking a visiblemeasureto stem gains.</p>\n<p>“The central bank’s intervention will only slow down the pace of appreciation, not the direction of the appreciation,” said Jackson Wong, an asset management director at Amber <a href=\"https://laohu8.com/S/HIL\">Hill</a> Capital Ltd. “A rising Chinese currency historically has a positive correlation with both mainland and Hong Kong benchmark indexes, though some sectors will suffer.”</p>\n<p>Who wins:</p>\n<ul>\n <li>Dollar-debt borrowers: Companies to benefit most directly will be those that generate revenue in yuan while borrowing in foreign currencies, as debt is reduced. According toBloomberg data, about 24% of the total outstanding dollar-denominated bonds issued by all Chinese companies are from developers.</li>\n <li>Hong Kong-listed Chinese companies, or H shares: A stronger yuan bodes well for the H shares, as well as valuations and foreign inflows, said CICC analysts including Hanfeng Wang. While some investors may worry that a strong yuan could discourage southbound inflows because of potential foreign-exchange losses, historical experience suggests those inflows are positively correlated with the yuan, as a stronger yuan usually suggests better growth prospect for Chinese assets, Wang said.</li>\n <li>Consumer companies: A rising currency enhances purchasing power and consumer confidence, which benefits the consumer sector, said Yang Delong, chief economist at <a href=\"https://laohu8.com/S/FBNC\">First</a> Seafront Fund Management.</li>\n</ul>\n<p>Who loses:</p>\n<ul>\n <li>Labor-intensive exporters: Manufacturers such astoy makers, which rely on cheap prices to attract customers and generate most revenue overseas, may take a blow from a stronger yuan, Zheng Jiawei, analyst at East <a href=\"https://laohu8.com/S/00662\">Asia</a> Qianhai Securities, wrote in a research report.</li>\n <li>Foreign-asset owners: Textile manufacturers and machinery companies will suffer, as they tend to have large proportions of assets denominated in foreign currencies, said Cliff Zhao, head of research at <a href=\"https://laohu8.com/S/00939\">CCB</a> International.</li>\n</ul>\n<p><i>— With assistance by Jeanny Yu, and Amy Li</i></p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Here Are the Winners and Losers From China’s Surging Yuan</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHere Are the Winners and Losers From China’s Surging Yuan\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-02 10:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will face squeeze: analysts\n\nSign up for Next China, a weekly email on where the nation stands now and ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199569503","content_text":"H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will face squeeze: analysts\n\nSign up for Next China, a weekly email on where the nation stands now and where it's going next.\nChina’s rising yuan has given equity investors a touchstone in their search for potential winners and losers.\nBenchmark stock indexes in both Hong Kong and on the mainland have been buoyed by the recent strength of theyuan, as capital chases assets denominated in a strengthening currency. The correlation between China’s benchmark CSI 300 Index and the onshore yuan’s strength is near the highest in seven months, while the Hang Seng Index is also most-linked to the currency’s movements since February, data compiled by Bloomberg show. But not every share is a beneficiary.\nLikely winners include companies that can take advantage of currency dichotomies, including Chinese property developers with sizable dollar debt and companies that generate most revenue in the mainland but are Hong Kong-listed, according to analysts.\nOn the flip side of the currency equation are exporters, whose products will be less price-competitive when sold in foreign markets.\nThe Chinese yuan has surged 12% against the dollar since May 2020, with the rally accelerating recently amid inflation concerns and the greenback’s weakness. Some investors expect the yuan rally continuing, despite the central bank taking a visiblemeasureto stem gains.\n“The central bank’s intervention will only slow down the pace of appreciation, not the direction of the appreciation,” said Jackson Wong, an asset management director at Amber Hill Capital Ltd. “A rising Chinese currency historically has a positive correlation with both mainland and Hong Kong benchmark indexes, though some sectors will suffer.”\nWho wins:\n\nDollar-debt borrowers: Companies to benefit most directly will be those that generate revenue in yuan while borrowing in foreign currencies, as debt is reduced. According toBloomberg data, about 24% of the total outstanding dollar-denominated bonds issued by all Chinese companies are from developers.\nHong Kong-listed Chinese companies, or H shares: A stronger yuan bodes well for the H shares, as well as valuations and foreign inflows, said CICC analysts including Hanfeng Wang. While some investors may worry that a strong yuan could discourage southbound inflows because of potential foreign-exchange losses, historical experience suggests those inflows are positively correlated with the yuan, as a stronger yuan usually suggests better growth prospect for Chinese assets, Wang said.\nConsumer companies: A rising currency enhances purchasing power and consumer confidence, which benefits the consumer sector, said Yang Delong, chief economist at First Seafront Fund Management.\n\nWho loses:\n\nLabor-intensive exporters: Manufacturers such astoy makers, which rely on cheap prices to attract customers and generate most revenue overseas, may take a blow from a stronger yuan, Zheng Jiawei, analyst at East Asia Qianhai Securities, wrote in a research report.\nForeign-asset owners: Textile manufacturers and machinery companies will suffer, as they tend to have large proportions of assets denominated in foreign currencies, said Cliff Zhao, head of research at CCB International.\n\n— With assistance by Jeanny Yu, and Amy Li","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4540933,"gmtCreate":1622605483943,"gmtModify":1680792591506,"authorId":3585264675951025,"author":{"id":3585264675951025,"idStr":"3585264675951025","authorId":3585264675951025,"name":"CorrineNaNa","avatar":"https://static.tigerbbs.com/691cc3823ad4a674860add4208e9e99e","vip":1,"currentWearingBadge":{"badgeId":"a83d7582f45846ffbccbce770ce65d84-1","templateUuid":"a83d7582f45846ffbccbce770ce65d84","name":"Real Trader","description":"Completed a transaction","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.29","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1100},"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":113855040,"type":1,"supId":0,"prevId":0,"content":"Good","text":"Good","html":"Good"}],"langContent":"EN"},{"id":113888284,"gmtCreate":1622603285948,"gmtModify":1704187167341,"author":{"id":"3575977247479835","authorId":"3575977247479835","name":"A2Hong","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3575977247479835","authorIdStr":"3575977247479835"},"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/113888284","repostId":1199569503,"repostType":4,"repost":{"id":"1199569503","kind":"news","pubTimestamp":1622599866,"share":"https://ttm.financial/m/news/1199569503?lang=&edition=fundamental","pubTime":"2021-06-02 10:11","market":"hk","language":"en","title":"Here Are the Winners and Losers From China’s Surging Yuan","url":"https://stock-news.laohu8.com/highlight/detail?id=1199569503","media":"Bloomberg","summary":"H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will ","content":"<ul>\n <li>H shares, property developers to see advantages in yuan gain</li>\n <li>Exporters that rely on price edge will face squeeze: analysts</li>\n</ul>\n<p><i>Sign up for Next <a href=\"https://laohu8.com/S/CAAS\">China</a>, a weekly email on where the nation stands now and where it's going next.</i></p>\n<p>China’s rising yuan has given equity investors a touchstone in their search for potential winners and losers.</p>\n<p>Benchmark stock indexes in both Hong Kong and on the mainland have been buoyed by the recent strength of theyuan, as capital chases assets denominated in a strengthening currency. The correlation between China’s benchmark CSI 300 Index and the onshore yuan’s strength is near the highest in seven months, while the Hang Seng Index is also most-linked to the currency’s movements since February, data compiled by Bloomberg show. But not every share is a beneficiary.</p>\n<p><img src=\"https://static.tigerbbs.com/b8a32602a4dc3c262575f6ea29a99597\" tg-width=\"620\" tg-height=\"348\" referrerpolicy=\"no-referrer\">Likely winners include companies that can take advantage of currency dichotomies, including Chinese property developers with sizable dollar debt and companies that generate most revenue in the mainland but are Hong Kong-listed, according to analysts.</p>\n<p>On the flip side of the currency equation are exporters, whose products will be less price-competitive when sold in foreign markets.</p>\n<p>The Chinese yuan has surged 12% against the dollar since May 2020, with the rally accelerating recently amid inflation concerns and the greenback’s weakness. Some investors expect the yuan rally continuing, despite the central bank taking a visiblemeasureto stem gains.</p>\n<p>“The central bank’s intervention will only slow down the pace of appreciation, not the direction of the appreciation,” said Jackson Wong, an asset management director at Amber <a href=\"https://laohu8.com/S/HIL\">Hill</a> Capital Ltd. “A rising Chinese currency historically has a positive correlation with both mainland and Hong Kong benchmark indexes, though some sectors will suffer.”</p>\n<p>Who wins:</p>\n<ul>\n <li>Dollar-debt borrowers: Companies to benefit most directly will be those that generate revenue in yuan while borrowing in foreign currencies, as debt is reduced. According toBloomberg data, about 24% of the total outstanding dollar-denominated bonds issued by all Chinese companies are from developers.</li>\n <li>Hong Kong-listed Chinese companies, or H shares: A stronger yuan bodes well for the H shares, as well as valuations and foreign inflows, said CICC analysts including Hanfeng Wang. While some investors may worry that a strong yuan could discourage southbound inflows because of potential foreign-exchange losses, historical experience suggests those inflows are positively correlated with the yuan, as a stronger yuan usually suggests better growth prospect for Chinese assets, Wang said.</li>\n <li>Consumer companies: A rising currency enhances purchasing power and consumer confidence, which benefits the consumer sector, said Yang Delong, chief economist at <a href=\"https://laohu8.com/S/FBNC\">First</a> Seafront Fund Management.</li>\n</ul>\n<p>Who loses:</p>\n<ul>\n <li>Labor-intensive exporters: Manufacturers such astoy makers, which rely on cheap prices to attract customers and generate most revenue overseas, may take a blow from a stronger yuan, Zheng Jiawei, analyst at East <a href=\"https://laohu8.com/S/00662\">Asia</a> Qianhai Securities, wrote in a research report.</li>\n <li>Foreign-asset owners: Textile manufacturers and machinery companies will suffer, as they tend to have large proportions of assets denominated in foreign currencies, said Cliff Zhao, head of research at <a href=\"https://laohu8.com/S/00939\">CCB</a> International.</li>\n</ul>\n<p><i>— With assistance by Jeanny Yu, and Amy Li</i></p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHere Are the Winners and Losers From China’s Surging Yuan\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-02 10:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will face squeeze: analysts\n\nSign up for Next China, a weekly email on where the nation stands now and ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199569503","content_text":"H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will face squeeze: analysts\n\nSign up for Next China, a weekly email on where the nation stands now and where it's going next.\nChina’s rising yuan has given equity investors a touchstone in their search for potential winners and losers.\nBenchmark stock indexes in both Hong Kong and on the mainland have been buoyed by the recent strength of theyuan, as capital chases assets denominated in a strengthening currency. The correlation between China’s benchmark CSI 300 Index and the onshore yuan’s strength is near the highest in seven months, while the Hang Seng Index is also most-linked to the currency’s movements since February, data compiled by Bloomberg show. But not every share is a beneficiary.\nLikely winners include companies that can take advantage of currency dichotomies, including Chinese property developers with sizable dollar debt and companies that generate most revenue in the mainland but are Hong Kong-listed, according to analysts.\nOn the flip side of the currency equation are exporters, whose products will be less price-competitive when sold in foreign markets.\nThe Chinese yuan has surged 12% against the dollar since May 2020, with the rally accelerating recently amid inflation concerns and the greenback’s weakness. Some investors expect the yuan rally continuing, despite the central bank taking a visiblemeasureto stem gains.\n“The central bank’s intervention will only slow down the pace of appreciation, not the direction of the appreciation,” said Jackson Wong, an asset management director at Amber Hill Capital Ltd. “A rising Chinese currency historically has a positive correlation with both mainland and Hong Kong benchmark indexes, though some sectors will suffer.”\nWho wins:\n\nDollar-debt borrowers: Companies to benefit most directly will be those that generate revenue in yuan while borrowing in foreign currencies, as debt is reduced. According toBloomberg data, about 24% of the total outstanding dollar-denominated bonds issued by all Chinese companies are from developers.\nHong Kong-listed Chinese companies, or H shares: A stronger yuan bodes well for the H shares, as well as valuations and foreign inflows, said CICC analysts including Hanfeng Wang. While some investors may worry that a strong yuan could discourage southbound inflows because of potential foreign-exchange losses, historical experience suggests those inflows are positively correlated with the yuan, as a stronger yuan usually suggests better growth prospect for Chinese assets, Wang said.\nConsumer companies: A rising currency enhances purchasing power and consumer confidence, which benefits the consumer sector, said Yang Delong, chief economist at First Seafront Fund Management.\n\nWho loses:\n\nLabor-intensive exporters: Manufacturers such astoy makers, which rely on cheap prices to attract customers and generate most revenue overseas, may take a blow from a stronger yuan, Zheng Jiawei, analyst at East Asia Qianhai Securities, wrote in a research report.\nForeign-asset owners: Textile manufacturers and machinery companies will suffer, as they tend to have large proportions of assets denominated in foreign currencies, said Cliff Zhao, head of research at CCB International.\n\n— With assistance by Jeanny Yu, and Amy Li","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":113818043,"gmtCreate":1622602549582,"gmtModify":1704187154185,"author":{"id":"3581507913921607","authorId":"3581507913921607","name":"WuM","avatar":"https://static.tigerbbs.com/95d411ee34efb9c1c7d37e68493e105c","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3581507913921607","authorIdStr":"3581507913921607"},"htmlText":"And the currency war continues. Good luck consumers.","listText":"And the currency war continues. Good luck consumers.","text":"And the currency war continues. Good luck consumers.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/113818043","repostId":1199569503,"repostType":4,"repost":{"id":"1199569503","kind":"news","pubTimestamp":1622599866,"share":"https://ttm.financial/m/news/1199569503?lang=&edition=fundamental","pubTime":"2021-06-02 10:11","market":"hk","language":"en","title":"Here Are the Winners and Losers From China’s Surging Yuan","url":"https://stock-news.laohu8.com/highlight/detail?id=1199569503","media":"Bloomberg","summary":"H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will ","content":"<ul>\n <li>H shares, property developers to see advantages in yuan gain</li>\n <li>Exporters that rely on price edge will face squeeze: analysts</li>\n</ul>\n<p><i>Sign up for Next <a href=\"https://laohu8.com/S/CAAS\">China</a>, a weekly email on where the nation stands now and where it's going next.</i></p>\n<p>China’s rising yuan has given equity investors a touchstone in their search for potential winners and losers.</p>\n<p>Benchmark stock indexes in both Hong Kong and on the mainland have been buoyed by the recent strength of theyuan, as capital chases assets denominated in a strengthening currency. The correlation between China’s benchmark CSI 300 Index and the onshore yuan’s strength is near the highest in seven months, while the Hang Seng Index is also most-linked to the currency’s movements since February, data compiled by Bloomberg show. But not every share is a beneficiary.</p>\n<p><img src=\"https://static.tigerbbs.com/b8a32602a4dc3c262575f6ea29a99597\" tg-width=\"620\" tg-height=\"348\" referrerpolicy=\"no-referrer\">Likely winners include companies that can take advantage of currency dichotomies, including Chinese property developers with sizable dollar debt and companies that generate most revenue in the mainland but are Hong Kong-listed, according to analysts.</p>\n<p>On the flip side of the currency equation are exporters, whose products will be less price-competitive when sold in foreign markets.</p>\n<p>The Chinese yuan has surged 12% against the dollar since May 2020, with the rally accelerating recently amid inflation concerns and the greenback’s weakness. Some investors expect the yuan rally continuing, despite the central bank taking a visiblemeasureto stem gains.</p>\n<p>“The central bank’s intervention will only slow down the pace of appreciation, not the direction of the appreciation,” said Jackson Wong, an asset management director at Amber <a href=\"https://laohu8.com/S/HIL\">Hill</a> Capital Ltd. “A rising Chinese currency historically has a positive correlation with both mainland and Hong Kong benchmark indexes, though some sectors will suffer.”</p>\n<p>Who wins:</p>\n<ul>\n <li>Dollar-debt borrowers: Companies to benefit most directly will be those that generate revenue in yuan while borrowing in foreign currencies, as debt is reduced. According toBloomberg data, about 24% of the total outstanding dollar-denominated bonds issued by all Chinese companies are from developers.</li>\n <li>Hong Kong-listed Chinese companies, or H shares: A stronger yuan bodes well for the H shares, as well as valuations and foreign inflows, said CICC analysts including Hanfeng Wang. While some investors may worry that a strong yuan could discourage southbound inflows because of potential foreign-exchange losses, historical experience suggests those inflows are positively correlated with the yuan, as a stronger yuan usually suggests better growth prospect for Chinese assets, Wang said.</li>\n <li>Consumer companies: A rising currency enhances purchasing power and consumer confidence, which benefits the consumer sector, said Yang Delong, chief economist at <a href=\"https://laohu8.com/S/FBNC\">First</a> Seafront Fund Management.</li>\n</ul>\n<p>Who loses:</p>\n<ul>\n <li>Labor-intensive exporters: Manufacturers such astoy makers, which rely on cheap prices to attract customers and generate most revenue overseas, may take a blow from a stronger yuan, Zheng Jiawei, analyst at East <a href=\"https://laohu8.com/S/00662\">Asia</a> Qianhai Securities, wrote in a research report.</li>\n <li>Foreign-asset owners: Textile manufacturers and machinery companies will suffer, as they tend to have large proportions of assets denominated in foreign currencies, said Cliff Zhao, head of research at <a href=\"https://laohu8.com/S/00939\">CCB</a> International.</li>\n</ul>\n<p><i>— With assistance by Jeanny Yu, and Amy Li</i></p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Here Are the Winners and Losers From China’s Surging Yuan</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHere Are the Winners and Losers From China’s Surging Yuan\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-02 10:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will face squeeze: analysts\n\nSign up for Next China, a weekly email on where the nation stands now and ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199569503","content_text":"H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will face squeeze: analysts\n\nSign up for Next China, a weekly email on where the nation stands now and where it's going next.\nChina’s rising yuan has given equity investors a touchstone in their search for potential winners and losers.\nBenchmark stock indexes in both Hong Kong and on the mainland have been buoyed by the recent strength of theyuan, as capital chases assets denominated in a strengthening currency. The correlation between China’s benchmark CSI 300 Index and the onshore yuan’s strength is near the highest in seven months, while the Hang Seng Index is also most-linked to the currency’s movements since February, data compiled by Bloomberg show. But not every share is a beneficiary.\nLikely winners include companies that can take advantage of currency dichotomies, including Chinese property developers with sizable dollar debt and companies that generate most revenue in the mainland but are Hong Kong-listed, according to analysts.\nOn the flip side of the currency equation are exporters, whose products will be less price-competitive when sold in foreign markets.\nThe Chinese yuan has surged 12% against the dollar since May 2020, with the rally accelerating recently amid inflation concerns and the greenback’s weakness. Some investors expect the yuan rally continuing, despite the central bank taking a visiblemeasureto stem gains.\n“The central bank’s intervention will only slow down the pace of appreciation, not the direction of the appreciation,” said Jackson Wong, an asset management director at Amber Hill Capital Ltd. “A rising Chinese currency historically has a positive correlation with both mainland and Hong Kong benchmark indexes, though some sectors will suffer.”\nWho wins:\n\nDollar-debt borrowers: Companies to benefit most directly will be those that generate revenue in yuan while borrowing in foreign currencies, as debt is reduced. According toBloomberg data, about 24% of the total outstanding dollar-denominated bonds issued by all Chinese companies are from developers.\nHong Kong-listed Chinese companies, or H shares: A stronger yuan bodes well for the H shares, as well as valuations and foreign inflows, said CICC analysts including Hanfeng Wang. While some investors may worry that a strong yuan could discourage southbound inflows because of potential foreign-exchange losses, historical experience suggests those inflows are positively correlated with the yuan, as a stronger yuan usually suggests better growth prospect for Chinese assets, Wang said.\nConsumer companies: A rising currency enhances purchasing power and consumer confidence, which benefits the consumer sector, said Yang Delong, chief economist at First Seafront Fund Management.\n\nWho loses:\n\nLabor-intensive exporters: Manufacturers such astoy makers, which rely on cheap prices to attract customers and generate most revenue overseas, may take a blow from a stronger yuan, Zheng Jiawei, analyst at East Asia Qianhai Securities, wrote in a research report.\nForeign-asset owners: Textile manufacturers and machinery companies will suffer, as they tend to have large proportions of assets denominated in foreign currencies, said Cliff Zhao, head of research at CCB International.\n\n— With assistance by Jeanny Yu, and Amy Li","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":113837937,"gmtCreate":1622602265529,"gmtModify":1704187147032,"author":{"id":"3570069153864313","authorId":"3570069153864313","name":"Racheltestin","avatar":"https://static.tigerbbs.com/83746feea9af3c17ae42ff00d7ca9254","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3570069153864313","authorIdStr":"3570069153864313"},"htmlText":"Like and comment&nbsp;","listText":"Like and comment&nbsp;","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/113837937","repostId":1199569503,"repostType":4,"repost":{"id":"1199569503","kind":"news","pubTimestamp":1622599866,"share":"https://ttm.financial/m/news/1199569503?lang=&edition=fundamental","pubTime":"2021-06-02 10:11","market":"hk","language":"en","title":"Here Are the Winners and Losers From China’s Surging Yuan","url":"https://stock-news.laohu8.com/highlight/detail?id=1199569503","media":"Bloomberg","summary":"H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will ","content":"<ul>\n <li>H shares, property developers to see advantages in yuan gain</li>\n <li>Exporters that rely on price edge will face squeeze: analysts</li>\n</ul>\n<p><i>Sign up for Next <a href=\"https://laohu8.com/S/CAAS\">China</a>, a weekly email on where the nation stands now and where it's going next.</i></p>\n<p>China’s rising yuan has given equity investors a touchstone in their search for potential winners and losers.</p>\n<p>Benchmark stock indexes in both Hong Kong and on the mainland have been buoyed by the recent strength of theyuan, as capital chases assets denominated in a strengthening currency. The correlation between China’s benchmark CSI 300 Index and the onshore yuan’s strength is near the highest in seven months, while the Hang Seng Index is also most-linked to the currency’s movements since February, data compiled by Bloomberg show. But not every share is a beneficiary.</p>\n<p><img src=\"https://static.tigerbbs.com/b8a32602a4dc3c262575f6ea29a99597\" tg-width=\"620\" tg-height=\"348\" referrerpolicy=\"no-referrer\">Likely winners include companies that can take advantage of currency dichotomies, including Chinese property developers with sizable dollar debt and companies that generate most revenue in the mainland but are Hong Kong-listed, according to analysts.</p>\n<p>On the flip side of the currency equation are exporters, whose products will be less price-competitive when sold in foreign markets.</p>\n<p>The Chinese yuan has surged 12% against the dollar since May 2020, with the rally accelerating recently amid inflation concerns and the greenback’s weakness. Some investors expect the yuan rally continuing, despite the central bank taking a visiblemeasureto stem gains.</p>\n<p>“The central bank’s intervention will only slow down the pace of appreciation, not the direction of the appreciation,” said Jackson Wong, an asset management director at Amber <a href=\"https://laohu8.com/S/HIL\">Hill</a> Capital Ltd. “A rising Chinese currency historically has a positive correlation with both mainland and Hong Kong benchmark indexes, though some sectors will suffer.”</p>\n<p>Who wins:</p>\n<ul>\n <li>Dollar-debt borrowers: Companies to benefit most directly will be those that generate revenue in yuan while borrowing in foreign currencies, as debt is reduced. According toBloomberg data, about 24% of the total outstanding dollar-denominated bonds issued by all Chinese companies are from developers.</li>\n <li>Hong Kong-listed Chinese companies, or H shares: A stronger yuan bodes well for the H shares, as well as valuations and foreign inflows, said CICC analysts including Hanfeng Wang. While some investors may worry that a strong yuan could discourage southbound inflows because of potential foreign-exchange losses, historical experience suggests those inflows are positively correlated with the yuan, as a stronger yuan usually suggests better growth prospect for Chinese assets, Wang said.</li>\n <li>Consumer companies: A rising currency enhances purchasing power and consumer confidence, which benefits the consumer sector, said Yang Delong, chief economist at <a href=\"https://laohu8.com/S/FBNC\">First</a> Seafront Fund Management.</li>\n</ul>\n<p>Who loses:</p>\n<ul>\n <li>Labor-intensive exporters: Manufacturers such astoy makers, which rely on cheap prices to attract customers and generate most revenue overseas, may take a blow from a stronger yuan, Zheng Jiawei, analyst at East <a href=\"https://laohu8.com/S/00662\">Asia</a> Qianhai Securities, wrote in a research report.</li>\n <li>Foreign-asset owners: Textile manufacturers and machinery companies will suffer, as they tend to have large proportions of assets denominated in foreign currencies, said Cliff Zhao, head of research at <a href=\"https://laohu8.com/S/00939\">CCB</a> International.</li>\n</ul>\n<p><i>— With assistance by Jeanny Yu, and Amy Li</i></p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Here Are the Winners and Losers From China’s Surging Yuan</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHere Are the Winners and Losers From China’s Surging Yuan\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-02 10:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will face squeeze: analysts\n\nSign up for Next China, a weekly email on where the nation stands now and ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199569503","content_text":"H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will face squeeze: analysts\n\nSign up for Next China, a weekly email on where the nation stands now and where it's going next.\nChina’s rising yuan has given equity investors a touchstone in their search for potential winners and losers.\nBenchmark stock indexes in both Hong Kong and on the mainland have been buoyed by the recent strength of theyuan, as capital chases assets denominated in a strengthening currency. The correlation between China’s benchmark CSI 300 Index and the onshore yuan’s strength is near the highest in seven months, while the Hang Seng Index is also most-linked to the currency’s movements since February, data compiled by Bloomberg show. But not every share is a beneficiary.\nLikely winners include companies that can take advantage of currency dichotomies, including Chinese property developers with sizable dollar debt and companies that generate most revenue in the mainland but are Hong Kong-listed, according to analysts.\nOn the flip side of the currency equation are exporters, whose products will be less price-competitive when sold in foreign markets.\nThe Chinese yuan has surged 12% against the dollar since May 2020, with the rally accelerating recently amid inflation concerns and the greenback’s weakness. Some investors expect the yuan rally continuing, despite the central bank taking a visiblemeasureto stem gains.\n“The central bank’s intervention will only slow down the pace of appreciation, not the direction of the appreciation,” said Jackson Wong, an asset management director at Amber Hill Capital Ltd. “A rising Chinese currency historically has a positive correlation with both mainland and Hong Kong benchmark indexes, though some sectors will suffer.”\nWho wins:\n\nDollar-debt borrowers: Companies to benefit most directly will be those that generate revenue in yuan while borrowing in foreign currencies, as debt is reduced. According toBloomberg data, about 24% of the total outstanding dollar-denominated bonds issued by all Chinese companies are from developers.\nHong Kong-listed Chinese companies, or H shares: A stronger yuan bodes well for the H shares, as well as valuations and foreign inflows, said CICC analysts including Hanfeng Wang. While some investors may worry that a strong yuan could discourage southbound inflows because of potential foreign-exchange losses, historical experience suggests those inflows are positively correlated with the yuan, as a stronger yuan usually suggests better growth prospect for Chinese assets, Wang said.\nConsumer companies: A rising currency enhances purchasing power and consumer confidence, which benefits the consumer sector, said Yang Delong, chief economist at First Seafront Fund Management.\n\nWho loses:\n\nLabor-intensive exporters: Manufacturers such astoy makers, which rely on cheap prices to attract customers and generate most revenue overseas, may take a blow from a stronger yuan, Zheng Jiawei, analyst at East Asia Qianhai Securities, wrote in a research report.\nForeign-asset owners: Textile manufacturers and machinery companies will suffer, as they tend to have large proportions of assets denominated in foreign currencies, said Cliff Zhao, head of research at CCB International.\n\n— With assistance by Jeanny Yu, and Amy Li","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4540465,"gmtCreate":1622603187882,"gmtModify":1680792583892,"authorId":3581931076615563,"author":{"id":3581931076615563,"idStr":"3581931076615563","authorId":3581931076615563,"name":"yyhwin","avatar":"https://static.tigerbbs.com/78727032603c2751ac0b6b6cfb678920","vip":1,"crmLevel":2,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":113837937,"type":1,"supId":4540459,"prevId":0,"content":"Comment back please","text":"Comment back please","html":"Comment back please"},{"id":4540459,"gmtCreate":1622603155084,"gmtModify":1680792581007,"authorId":3581931076615563,"author":{"id":3581931076615563,"idStr":"3581931076615563","authorId":3581931076615563,"name":"yyhwin","avatar":"https://static.tigerbbs.com/78727032603c2751ac0b6b6cfb678920","vip":1,"crmLevel":2,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":113837937,"type":1,"supId":0,"prevId":0,"content":"Comment back please","text":"Comment back please","html":"Comment back please"},{"id":4540342,"gmtCreate":1622602560153,"gmtModify":1680792567784,"authorId":3581507913921607,"author":{"id":3581507913921607,"idStr":"3581507913921607","authorId":3581507913921607,"name":"WuM","avatar":"https://static.tigerbbs.com/95d411ee34efb9c1c7d37e68493e105c","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":113837937,"type":1,"supId":0,"prevId":0,"content":"done! reply pls!","text":"done! reply pls!","html":"done! reply pls!"}],"langContent":"EN"},{"id":113832122,"gmtCreate":1622602091567,"gmtModify":1704187142933,"author":{"id":"3581562365927542","authorId":"3581562365927542","name":"BBBBBBBBBB","avatar":"https://static.tigerbbs.com/973395458d7e1db24dbd4a689c79e8a2","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3581562365927542","authorIdStr":"3581562365927542"},"htmlText":"Like and comment to the moon!","listText":"Like and comment to the moon!","text":"Like and comment to the moon!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/113832122","repostId":1199569503,"repostType":4,"repost":{"id":"1199569503","kind":"news","pubTimestamp":1622599866,"share":"https://ttm.financial/m/news/1199569503?lang=&edition=fundamental","pubTime":"2021-06-02 10:11","market":"hk","language":"en","title":"Here Are the Winners and Losers From China’s Surging Yuan","url":"https://stock-news.laohu8.com/highlight/detail?id=1199569503","media":"Bloomberg","summary":"H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will ","content":"<ul>\n <li>H shares, property developers to see advantages in yuan gain</li>\n <li>Exporters that rely on price edge will face squeeze: analysts</li>\n</ul>\n<p><i>Sign up for Next <a href=\"https://laohu8.com/S/CAAS\">China</a>, a weekly email on where the nation stands now and where it's going next.</i></p>\n<p>China’s rising yuan has given equity investors a touchstone in their search for potential winners and losers.</p>\n<p>Benchmark stock indexes in both Hong Kong and on the mainland have been buoyed by the recent strength of theyuan, as capital chases assets denominated in a strengthening currency. The correlation between China’s benchmark CSI 300 Index and the onshore yuan’s strength is near the highest in seven months, while the Hang Seng Index is also most-linked to the currency’s movements since February, data compiled by Bloomberg show. But not every share is a beneficiary.</p>\n<p><img src=\"https://static.tigerbbs.com/b8a32602a4dc3c262575f6ea29a99597\" tg-width=\"620\" tg-height=\"348\" referrerpolicy=\"no-referrer\">Likely winners include companies that can take advantage of currency dichotomies, including Chinese property developers with sizable dollar debt and companies that generate most revenue in the mainland but are Hong Kong-listed, according to analysts.</p>\n<p>On the flip side of the currency equation are exporters, whose products will be less price-competitive when sold in foreign markets.</p>\n<p>The Chinese yuan has surged 12% against the dollar since May 2020, with the rally accelerating recently amid inflation concerns and the greenback’s weakness. Some investors expect the yuan rally continuing, despite the central bank taking a visiblemeasureto stem gains.</p>\n<p>“The central bank’s intervention will only slow down the pace of appreciation, not the direction of the appreciation,” said Jackson Wong, an asset management director at Amber <a href=\"https://laohu8.com/S/HIL\">Hill</a> Capital Ltd. “A rising Chinese currency historically has a positive correlation with both mainland and Hong Kong benchmark indexes, though some sectors will suffer.”</p>\n<p>Who wins:</p>\n<ul>\n <li>Dollar-debt borrowers: Companies to benefit most directly will be those that generate revenue in yuan while borrowing in foreign currencies, as debt is reduced. According toBloomberg data, about 24% of the total outstanding dollar-denominated bonds issued by all Chinese companies are from developers.</li>\n <li>Hong Kong-listed Chinese companies, or H shares: A stronger yuan bodes well for the H shares, as well as valuations and foreign inflows, said CICC analysts including Hanfeng Wang. While some investors may worry that a strong yuan could discourage southbound inflows because of potential foreign-exchange losses, historical experience suggests those inflows are positively correlated with the yuan, as a stronger yuan usually suggests better growth prospect for Chinese assets, Wang said.</li>\n <li>Consumer companies: A rising currency enhances purchasing power and consumer confidence, which benefits the consumer sector, said Yang Delong, chief economist at <a href=\"https://laohu8.com/S/FBNC\">First</a> Seafront Fund Management.</li>\n</ul>\n<p>Who loses:</p>\n<ul>\n <li>Labor-intensive exporters: Manufacturers such astoy makers, which rely on cheap prices to attract customers and generate most revenue overseas, may take a blow from a stronger yuan, Zheng Jiawei, analyst at East <a href=\"https://laohu8.com/S/00662\">Asia</a> Qianhai Securities, wrote in a research report.</li>\n <li>Foreign-asset owners: Textile manufacturers and machinery companies will suffer, as they tend to have large proportions of assets denominated in foreign currencies, said Cliff Zhao, head of research at <a href=\"https://laohu8.com/S/00939\">CCB</a> International.</li>\n</ul>\n<p><i>— With assistance by Jeanny Yu, and Amy Li</i></p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Here Are the Winners and Losers From China’s Surging Yuan</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHere Are the Winners and Losers From China’s Surging Yuan\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-02 10:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will face squeeze: analysts\n\nSign up for Next China, a weekly email on where the nation stands now and ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199569503","content_text":"H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will face squeeze: analysts\n\nSign up for Next China, a weekly email on where the nation stands now and where it's going next.\nChina’s rising yuan has given equity investors a touchstone in their search for potential winners and losers.\nBenchmark stock indexes in both Hong Kong and on the mainland have been buoyed by the recent strength of theyuan, as capital chases assets denominated in a strengthening currency. The correlation between China’s benchmark CSI 300 Index and the onshore yuan’s strength is near the highest in seven months, while the Hang Seng Index is also most-linked to the currency’s movements since February, data compiled by Bloomberg show. But not every share is a beneficiary.\nLikely winners include companies that can take advantage of currency dichotomies, including Chinese property developers with sizable dollar debt and companies that generate most revenue in the mainland but are Hong Kong-listed, according to analysts.\nOn the flip side of the currency equation are exporters, whose products will be less price-competitive when sold in foreign markets.\nThe Chinese yuan has surged 12% against the dollar since May 2020, with the rally accelerating recently amid inflation concerns and the greenback’s weakness. Some investors expect the yuan rally continuing, despite the central bank taking a visiblemeasureto stem gains.\n“The central bank’s intervention will only slow down the pace of appreciation, not the direction of the appreciation,” said Jackson Wong, an asset management director at Amber Hill Capital Ltd. “A rising Chinese currency historically has a positive correlation with both mainland and Hong Kong benchmark indexes, though some sectors will suffer.”\nWho wins:\n\nDollar-debt borrowers: Companies to benefit most directly will be those that generate revenue in yuan while borrowing in foreign currencies, as debt is reduced. According toBloomberg data, about 24% of the total outstanding dollar-denominated bonds issued by all Chinese companies are from developers.\nHong Kong-listed Chinese companies, or H shares: A stronger yuan bodes well for the H shares, as well as valuations and foreign inflows, said CICC analysts including Hanfeng Wang. While some investors may worry that a strong yuan could discourage southbound inflows because of potential foreign-exchange losses, historical experience suggests those inflows are positively correlated with the yuan, as a stronger yuan usually suggests better growth prospect for Chinese assets, Wang said.\nConsumer companies: A rising currency enhances purchasing power and consumer confidence, which benefits the consumer sector, said Yang Delong, chief economist at First Seafront Fund Management.\n\nWho loses:\n\nLabor-intensive exporters: Manufacturers such astoy makers, which rely on cheap prices to attract customers and generate most revenue overseas, may take a blow from a stronger yuan, Zheng Jiawei, analyst at East Asia Qianhai Securities, wrote in a research report.\nForeign-asset owners: Textile manufacturers and machinery companies will suffer, as they tend to have large proportions of assets denominated in foreign currencies, said Cliff Zhao, head of research at CCB International.\n\n— With assistance by Jeanny Yu, and Amy Li","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4540434,"gmtCreate":1622603001249,"gmtModify":1680792583124,"authorId":3581562365927542,"author":{"id":3581562365927542,"idStr":"3581562365927542","authorId":3581562365927542,"name":"BBBBBBBBBB","avatar":"https://static.tigerbbs.com/973395458d7e1db24dbd4a689c79e8a2","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":113832122,"type":1,"supId":4540348,"prevId":0,"content":"Ok","text":"Ok","html":"Ok"},{"id":4540468,"gmtCreate":1622603198604,"gmtModify":1680792583061,"authorId":3581931076615563,"author":{"id":3581931076615563,"idStr":"3581931076615563","authorId":3581931076615563,"name":"yyhwin","avatar":"https://static.tigerbbs.com/78727032603c2751ac0b6b6cfb678920","vip":1,"crmLevel":2,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":113832122,"type":1,"supId":0,"prevId":0,"content":"Well done reply please","text":"Well done reply please","html":"Well done reply please"},{"id":4540348,"gmtCreate":1622602579176,"gmtModify":1680792568571,"authorId":3581507913921607,"author":{"id":3581507913921607,"idStr":"3581507913921607","authorId":3581507913921607,"name":"WuM","avatar":"https://static.tigerbbs.com/95d411ee34efb9c1c7d37e68493e105c","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":113832122,"type":1,"supId":0,"prevId":0,"content":"done! reply pls!","text":"done! reply pls!","html":"done! reply pls!"}],"langContent":"EN"},{"id":113836419,"gmtCreate":1622602059431,"gmtModify":1704187142446,"author":{"id":"3581714557515258","authorId":"3581714557515258","name":"Jltan81","avatar":"https://static.tigerbbs.com/b2d954022aff60813e30fd6c679b1641","vip":1,"hat":"https://static.tigerbbs.com/4c5ceab71416b120bab4604c0754b52a","crmLevel":5,"crmLevelSwitch":1,"idStr":"3581714557515258","authorIdStr":"3581714557515258"},"htmlText":"[Smile]&nbsp;","listText":"[Smile]&nbsp;","text":"[Smile]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/113836419","repostId":1199569503,"repostType":4,"repost":{"id":"1199569503","kind":"news","pubTimestamp":1622599866,"share":"https://ttm.financial/m/news/1199569503?lang=&edition=fundamental","pubTime":"2021-06-02 10:11","market":"hk","language":"en","title":"Here Are the Winners and Losers From China’s Surging Yuan","url":"https://stock-news.laohu8.com/highlight/detail?id=1199569503","media":"Bloomberg","summary":"H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will ","content":"<ul>\n <li>H shares, property developers to see advantages in yuan gain</li>\n <li>Exporters that rely on price edge will face squeeze: analysts</li>\n</ul>\n<p><i>Sign up for Next <a href=\"https://laohu8.com/S/CAAS\">China</a>, a weekly email on where the nation stands now and where it's going next.</i></p>\n<p>China’s rising yuan has given equity investors a touchstone in their search for potential winners and losers.</p>\n<p>Benchmark stock indexes in both Hong Kong and on the mainland have been buoyed by the recent strength of theyuan, as capital chases assets denominated in a strengthening currency. The correlation between China’s benchmark CSI 300 Index and the onshore yuan’s strength is near the highest in seven months, while the Hang Seng Index is also most-linked to the currency’s movements since February, data compiled by Bloomberg show. But not every share is a beneficiary.</p>\n<p><img src=\"https://static.tigerbbs.com/b8a32602a4dc3c262575f6ea29a99597\" tg-width=\"620\" tg-height=\"348\" referrerpolicy=\"no-referrer\">Likely winners include companies that can take advantage of currency dichotomies, including Chinese property developers with sizable dollar debt and companies that generate most revenue in the mainland but are Hong Kong-listed, according to analysts.</p>\n<p>On the flip side of the currency equation are exporters, whose products will be less price-competitive when sold in foreign markets.</p>\n<p>The Chinese yuan has surged 12% against the dollar since May 2020, with the rally accelerating recently amid inflation concerns and the greenback’s weakness. Some investors expect the yuan rally continuing, despite the central bank taking a visiblemeasureto stem gains.</p>\n<p>“The central bank’s intervention will only slow down the pace of appreciation, not the direction of the appreciation,” said Jackson Wong, an asset management director at Amber <a href=\"https://laohu8.com/S/HIL\">Hill</a> Capital Ltd. “A rising Chinese currency historically has a positive correlation with both mainland and Hong Kong benchmark indexes, though some sectors will suffer.”</p>\n<p>Who wins:</p>\n<ul>\n <li>Dollar-debt borrowers: Companies to benefit most directly will be those that generate revenue in yuan while borrowing in foreign currencies, as debt is reduced. According toBloomberg data, about 24% of the total outstanding dollar-denominated bonds issued by all Chinese companies are from developers.</li>\n <li>Hong Kong-listed Chinese companies, or H shares: A stronger yuan bodes well for the H shares, as well as valuations and foreign inflows, said CICC analysts including Hanfeng Wang. While some investors may worry that a strong yuan could discourage southbound inflows because of potential foreign-exchange losses, historical experience suggests those inflows are positively correlated with the yuan, as a stronger yuan usually suggests better growth prospect for Chinese assets, Wang said.</li>\n <li>Consumer companies: A rising currency enhances purchasing power and consumer confidence, which benefits the consumer sector, said Yang Delong, chief economist at <a href=\"https://laohu8.com/S/FBNC\">First</a> Seafront Fund Management.</li>\n</ul>\n<p>Who loses:</p>\n<ul>\n <li>Labor-intensive exporters: Manufacturers such astoy makers, which rely on cheap prices to attract customers and generate most revenue overseas, may take a blow from a stronger yuan, Zheng Jiawei, analyst at East <a href=\"https://laohu8.com/S/00662\">Asia</a> Qianhai Securities, wrote in a research report.</li>\n <li>Foreign-asset owners: Textile manufacturers and machinery companies will suffer, as they tend to have large proportions of assets denominated in foreign currencies, said Cliff Zhao, head of research at <a href=\"https://laohu8.com/S/00939\">CCB</a> International.</li>\n</ul>\n<p><i>— With assistance by Jeanny Yu, and Amy Li</i></p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Here Are the Winners and Losers From China’s Surging Yuan</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHere Are the Winners and Losers From China’s Surging Yuan\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-02 10:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will face squeeze: analysts\n\nSign up for Next China, a weekly email on where the nation stands now and ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199569503","content_text":"H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will face squeeze: analysts\n\nSign up for Next China, a weekly email on where the nation stands now and where it's going next.\nChina’s rising yuan has given equity investors a touchstone in their search for potential winners and losers.\nBenchmark stock indexes in both Hong Kong and on the mainland have been buoyed by the recent strength of theyuan, as capital chases assets denominated in a strengthening currency. The correlation between China’s benchmark CSI 300 Index and the onshore yuan’s strength is near the highest in seven months, while the Hang Seng Index is also most-linked to the currency’s movements since February, data compiled by Bloomberg show. But not every share is a beneficiary.\nLikely winners include companies that can take advantage of currency dichotomies, including Chinese property developers with sizable dollar debt and companies that generate most revenue in the mainland but are Hong Kong-listed, according to analysts.\nOn the flip side of the currency equation are exporters, whose products will be less price-competitive when sold in foreign markets.\nThe Chinese yuan has surged 12% against the dollar since May 2020, with the rally accelerating recently amid inflation concerns and the greenback’s weakness. Some investors expect the yuan rally continuing, despite the central bank taking a visiblemeasureto stem gains.\n“The central bank’s intervention will only slow down the pace of appreciation, not the direction of the appreciation,” said Jackson Wong, an asset management director at Amber Hill Capital Ltd. “A rising Chinese currency historically has a positive correlation with both mainland and Hong Kong benchmark indexes, though some sectors will suffer.”\nWho wins:\n\nDollar-debt borrowers: Companies to benefit most directly will be those that generate revenue in yuan while borrowing in foreign currencies, as debt is reduced. According toBloomberg data, about 24% of the total outstanding dollar-denominated bonds issued by all Chinese companies are from developers.\nHong Kong-listed Chinese companies, or H shares: A stronger yuan bodes well for the H shares, as well as valuations and foreign inflows, said CICC analysts including Hanfeng Wang. While some investors may worry that a strong yuan could discourage southbound inflows because of potential foreign-exchange losses, historical experience suggests those inflows are positively correlated with the yuan, as a stronger yuan usually suggests better growth prospect for Chinese assets, Wang said.\nConsumer companies: A rising currency enhances purchasing power and consumer confidence, which benefits the consumer sector, said Yang Delong, chief economist at First Seafront Fund Management.\n\nWho loses:\n\nLabor-intensive exporters: Manufacturers such astoy makers, which rely on cheap prices to attract customers and generate most revenue overseas, may take a blow from a stronger yuan, Zheng Jiawei, analyst at East Asia Qianhai Securities, wrote in a research report.\nForeign-asset owners: Textile manufacturers and machinery companies will suffer, as they tend to have large proportions of assets denominated in foreign currencies, said Cliff Zhao, head of research at CCB International.\n\n— With assistance by Jeanny Yu, and Amy Li","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4563777,"gmtCreate":1622725367109,"gmtModify":1663227881437,"authorId":3581714557515258,"author":{"id":3581714557515258,"idStr":"3581714557515258","authorId":3581714557515258,"name":"Jltan81","avatar":"https://static.tigerbbs.com/b2d954022aff60813e30fd6c679b1641","vip":1,"crmLevel":5,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":113836419,"type":1,"supId":0,"prevId":0,"content":"[Smile]","text":"[Smile]","html":"[Smile]"}],"langContent":"EN"},{"id":113836120,"gmtCreate":1622602039060,"gmtModify":1704187141630,"author":{"id":"3575433293784452","authorId":"3575433293784452","name":"erichosk","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"hat":"https://static.tigerbbs.com/a3dee1aa3a3a3c1814833a4d3f8a5669","crmLevel":1,"crmLevelSwitch":0,"idStr":"3575433293784452","authorIdStr":"3575433293784452"},"htmlText":"Importers and consumers will benefit but exporters will suffer.","listText":"Importers and consumers will benefit but exporters will suffer.","text":"Importers and consumers will benefit but exporters will suffer.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/113836120","repostId":1199569503,"repostType":4,"repost":{"id":"1199569503","kind":"news","pubTimestamp":1622599866,"share":"https://ttm.financial/m/news/1199569503?lang=&edition=fundamental","pubTime":"2021-06-02 10:11","market":"hk","language":"en","title":"Here Are the Winners and Losers From China’s Surging Yuan","url":"https://stock-news.laohu8.com/highlight/detail?id=1199569503","media":"Bloomberg","summary":"H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will ","content":"<ul>\n <li>H shares, property developers to see advantages in yuan gain</li>\n <li>Exporters that rely on price edge will face squeeze: analysts</li>\n</ul>\n<p><i>Sign up for Next <a href=\"https://laohu8.com/S/CAAS\">China</a>, a weekly email on where the nation stands now and where it's going next.</i></p>\n<p>China’s rising yuan has given equity investors a touchstone in their search for potential winners and losers.</p>\n<p>Benchmark stock indexes in both Hong Kong and on the mainland have been buoyed by the recent strength of theyuan, as capital chases assets denominated in a strengthening currency. The correlation between China’s benchmark CSI 300 Index and the onshore yuan’s strength is near the highest in seven months, while the Hang Seng Index is also most-linked to the currency’s movements since February, data compiled by Bloomberg show. But not every share is a beneficiary.</p>\n<p><img src=\"https://static.tigerbbs.com/b8a32602a4dc3c262575f6ea29a99597\" tg-width=\"620\" tg-height=\"348\" referrerpolicy=\"no-referrer\">Likely winners include companies that can take advantage of currency dichotomies, including Chinese property developers with sizable dollar debt and companies that generate most revenue in the mainland but are Hong Kong-listed, according to analysts.</p>\n<p>On the flip side of the currency equation are exporters, whose products will be less price-competitive when sold in foreign markets.</p>\n<p>The Chinese yuan has surged 12% against the dollar since May 2020, with the rally accelerating recently amid inflation concerns and the greenback’s weakness. Some investors expect the yuan rally continuing, despite the central bank taking a visiblemeasureto stem gains.</p>\n<p>“The central bank’s intervention will only slow down the pace of appreciation, not the direction of the appreciation,” said Jackson Wong, an asset management director at Amber <a href=\"https://laohu8.com/S/HIL\">Hill</a> Capital Ltd. “A rising Chinese currency historically has a positive correlation with both mainland and Hong Kong benchmark indexes, though some sectors will suffer.”</p>\n<p>Who wins:</p>\n<ul>\n <li>Dollar-debt borrowers: Companies to benefit most directly will be those that generate revenue in yuan while borrowing in foreign currencies, as debt is reduced. According toBloomberg data, about 24% of the total outstanding dollar-denominated bonds issued by all Chinese companies are from developers.</li>\n <li>Hong Kong-listed Chinese companies, or H shares: A stronger yuan bodes well for the H shares, as well as valuations and foreign inflows, said CICC analysts including Hanfeng Wang. While some investors may worry that a strong yuan could discourage southbound inflows because of potential foreign-exchange losses, historical experience suggests those inflows are positively correlated with the yuan, as a stronger yuan usually suggests better growth prospect for Chinese assets, Wang said.</li>\n <li>Consumer companies: A rising currency enhances purchasing power and consumer confidence, which benefits the consumer sector, said Yang Delong, chief economist at <a href=\"https://laohu8.com/S/FBNC\">First</a> Seafront Fund Management.</li>\n</ul>\n<p>Who loses:</p>\n<ul>\n <li>Labor-intensive exporters: Manufacturers such astoy makers, which rely on cheap prices to attract customers and generate most revenue overseas, may take a blow from a stronger yuan, Zheng Jiawei, analyst at East <a href=\"https://laohu8.com/S/00662\">Asia</a> Qianhai Securities, wrote in a research report.</li>\n <li>Foreign-asset owners: Textile manufacturers and machinery companies will suffer, as they tend to have large proportions of assets denominated in foreign currencies, said Cliff Zhao, head of research at <a href=\"https://laohu8.com/S/00939\">CCB</a> International.</li>\n</ul>\n<p><i>— With assistance by Jeanny Yu, and Amy Li</i></p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Here Are the Winners and Losers From China’s Surging Yuan</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHere Are the Winners and Losers From China’s Surging Yuan\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-02 10:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will face squeeze: analysts\n\nSign up for Next China, a weekly email on where the nation stands now and ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199569503","content_text":"H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will face squeeze: analysts\n\nSign up for Next China, a weekly email on where the nation stands now and where it's going next.\nChina’s rising yuan has given equity investors a touchstone in their search for potential winners and losers.\nBenchmark stock indexes in both Hong Kong and on the mainland have been buoyed by the recent strength of theyuan, as capital chases assets denominated in a strengthening currency. The correlation between China’s benchmark CSI 300 Index and the onshore yuan’s strength is near the highest in seven months, while the Hang Seng Index is also most-linked to the currency’s movements since February, data compiled by Bloomberg show. But not every share is a beneficiary.\nLikely winners include companies that can take advantage of currency dichotomies, including Chinese property developers with sizable dollar debt and companies that generate most revenue in the mainland but are Hong Kong-listed, according to analysts.\nOn the flip side of the currency equation are exporters, whose products will be less price-competitive when sold in foreign markets.\nThe Chinese yuan has surged 12% against the dollar since May 2020, with the rally accelerating recently amid inflation concerns and the greenback’s weakness. Some investors expect the yuan rally continuing, despite the central bank taking a visiblemeasureto stem gains.\n“The central bank’s intervention will only slow down the pace of appreciation, not the direction of the appreciation,” said Jackson Wong, an asset management director at Amber Hill Capital Ltd. “A rising Chinese currency historically has a positive correlation with both mainland and Hong Kong benchmark indexes, though some sectors will suffer.”\nWho wins:\n\nDollar-debt borrowers: Companies to benefit most directly will be those that generate revenue in yuan while borrowing in foreign currencies, as debt is reduced. According toBloomberg data, about 24% of the total outstanding dollar-denominated bonds issued by all Chinese companies are from developers.\nHong Kong-listed Chinese companies, or H shares: A stronger yuan bodes well for the H shares, as well as valuations and foreign inflows, said CICC analysts including Hanfeng Wang. While some investors may worry that a strong yuan could discourage southbound inflows because of potential foreign-exchange losses, historical experience suggests those inflows are positively correlated with the yuan, as a stronger yuan usually suggests better growth prospect for Chinese assets, Wang said.\nConsumer companies: A rising currency enhances purchasing power and consumer confidence, which benefits the consumer sector, said Yang Delong, chief economist at First Seafront Fund Management.\n\nWho loses:\n\nLabor-intensive exporters: Manufacturers such astoy makers, which rely on cheap prices to attract customers and generate most revenue overseas, may take a blow from a stronger yuan, Zheng Jiawei, analyst at East Asia Qianhai Securities, wrote in a research report.\nForeign-asset owners: Textile manufacturers and machinery companies will suffer, as they tend to have large proportions of assets denominated in foreign currencies, said Cliff Zhao, head of research at CCB International.\n\n— With assistance by Jeanny Yu, and Amy Li","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":113838055,"gmtCreate":1622601952077,"gmtModify":1704187139345,"author":{"id":"3579684763801587","authorId":"3579684763801587","name":"Soksok","avatar":"https://static.tigerbbs.com/03c4a8d2787d3c5042bccff3b0bb60f1","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3579684763801587","authorIdStr":"3579684763801587"},"htmlText":"Liked&nbsp;","listText":"Liked&nbsp;","text":"Liked","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/113838055","repostId":1199569503,"repostType":4,"repost":{"id":"1199569503","kind":"news","pubTimestamp":1622599866,"share":"https://ttm.financial/m/news/1199569503?lang=&edition=fundamental","pubTime":"2021-06-02 10:11","market":"hk","language":"en","title":"Here Are the Winners and Losers From China’s Surging Yuan","url":"https://stock-news.laohu8.com/highlight/detail?id=1199569503","media":"Bloomberg","summary":"H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will ","content":"<ul>\n <li>H shares, property developers to see advantages in yuan gain</li>\n <li>Exporters that rely on price edge will face squeeze: analysts</li>\n</ul>\n<p><i>Sign up for Next <a href=\"https://laohu8.com/S/CAAS\">China</a>, a weekly email on where the nation stands now and where it's going next.</i></p>\n<p>China’s rising yuan has given equity investors a touchstone in their search for potential winners and losers.</p>\n<p>Benchmark stock indexes in both Hong Kong and on the mainland have been buoyed by the recent strength of theyuan, as capital chases assets denominated in a strengthening currency. The correlation between China’s benchmark CSI 300 Index and the onshore yuan’s strength is near the highest in seven months, while the Hang Seng Index is also most-linked to the currency’s movements since February, data compiled by Bloomberg show. But not every share is a beneficiary.</p>\n<p><img src=\"https://static.tigerbbs.com/b8a32602a4dc3c262575f6ea29a99597\" tg-width=\"620\" tg-height=\"348\" referrerpolicy=\"no-referrer\">Likely winners include companies that can take advantage of currency dichotomies, including Chinese property developers with sizable dollar debt and companies that generate most revenue in the mainland but are Hong Kong-listed, according to analysts.</p>\n<p>On the flip side of the currency equation are exporters, whose products will be less price-competitive when sold in foreign markets.</p>\n<p>The Chinese yuan has surged 12% against the dollar since May 2020, with the rally accelerating recently amid inflation concerns and the greenback’s weakness. Some investors expect the yuan rally continuing, despite the central bank taking a visiblemeasureto stem gains.</p>\n<p>“The central bank’s intervention will only slow down the pace of appreciation, not the direction of the appreciation,” said Jackson Wong, an asset management director at Amber <a href=\"https://laohu8.com/S/HIL\">Hill</a> Capital Ltd. “A rising Chinese currency historically has a positive correlation with both mainland and Hong Kong benchmark indexes, though some sectors will suffer.”</p>\n<p>Who wins:</p>\n<ul>\n <li>Dollar-debt borrowers: Companies to benefit most directly will be those that generate revenue in yuan while borrowing in foreign currencies, as debt is reduced. According toBloomberg data, about 24% of the total outstanding dollar-denominated bonds issued by all Chinese companies are from developers.</li>\n <li>Hong Kong-listed Chinese companies, or H shares: A stronger yuan bodes well for the H shares, as well as valuations and foreign inflows, said CICC analysts including Hanfeng Wang. While some investors may worry that a strong yuan could discourage southbound inflows because of potential foreign-exchange losses, historical experience suggests those inflows are positively correlated with the yuan, as a stronger yuan usually suggests better growth prospect for Chinese assets, Wang said.</li>\n <li>Consumer companies: A rising currency enhances purchasing power and consumer confidence, which benefits the consumer sector, said Yang Delong, chief economist at <a href=\"https://laohu8.com/S/FBNC\">First</a> Seafront Fund Management.</li>\n</ul>\n<p>Who loses:</p>\n<ul>\n <li>Labor-intensive exporters: Manufacturers such astoy makers, which rely on cheap prices to attract customers and generate most revenue overseas, may take a blow from a stronger yuan, Zheng Jiawei, analyst at East <a href=\"https://laohu8.com/S/00662\">Asia</a> Qianhai Securities, wrote in a research report.</li>\n <li>Foreign-asset owners: Textile manufacturers and machinery companies will suffer, as they tend to have large proportions of assets denominated in foreign currencies, said Cliff Zhao, head of research at <a href=\"https://laohu8.com/S/00939\">CCB</a> International.</li>\n</ul>\n<p><i>— With assistance by Jeanny Yu, and Amy Li</i></p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Here Are the Winners and Losers From China’s Surging Yuan</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHere Are the Winners and Losers From China’s Surging Yuan\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-02 10:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will face squeeze: analysts\n\nSign up for Next China, a weekly email on where the nation stands now and ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199569503","content_text":"H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will face squeeze: analysts\n\nSign up for Next China, a weekly email on where the nation stands now and where it's going next.\nChina’s rising yuan has given equity investors a touchstone in their search for potential winners and losers.\nBenchmark stock indexes in both Hong Kong and on the mainland have been buoyed by the recent strength of theyuan, as capital chases assets denominated in a strengthening currency. The correlation between China’s benchmark CSI 300 Index and the onshore yuan’s strength is near the highest in seven months, while the Hang Seng Index is also most-linked to the currency’s movements since February, data compiled by Bloomberg show. But not every share is a beneficiary.\nLikely winners include companies that can take advantage of currency dichotomies, including Chinese property developers with sizable dollar debt and companies that generate most revenue in the mainland but are Hong Kong-listed, according to analysts.\nOn the flip side of the currency equation are exporters, whose products will be less price-competitive when sold in foreign markets.\nThe Chinese yuan has surged 12% against the dollar since May 2020, with the rally accelerating recently amid inflation concerns and the greenback’s weakness. Some investors expect the yuan rally continuing, despite the central bank taking a visiblemeasureto stem gains.\n“The central bank’s intervention will only slow down the pace of appreciation, not the direction of the appreciation,” said Jackson Wong, an asset management director at Amber Hill Capital Ltd. “A rising Chinese currency historically has a positive correlation with both mainland and Hong Kong benchmark indexes, though some sectors will suffer.”\nWho wins:\n\nDollar-debt borrowers: Companies to benefit most directly will be those that generate revenue in yuan while borrowing in foreign currencies, as debt is reduced. According toBloomberg data, about 24% of the total outstanding dollar-denominated bonds issued by all Chinese companies are from developers.\nHong Kong-listed Chinese companies, or H shares: A stronger yuan bodes well for the H shares, as well as valuations and foreign inflows, said CICC analysts including Hanfeng Wang. While some investors may worry that a strong yuan could discourage southbound inflows because of potential foreign-exchange losses, historical experience suggests those inflows are positively correlated with the yuan, as a stronger yuan usually suggests better growth prospect for Chinese assets, Wang said.\nConsumer companies: A rising currency enhances purchasing power and consumer confidence, which benefits the consumer sector, said Yang Delong, chief economist at First Seafront Fund Management.\n\nWho loses:\n\nLabor-intensive exporters: Manufacturers such astoy makers, which rely on cheap prices to attract customers and generate most revenue overseas, may take a blow from a stronger yuan, Zheng Jiawei, analyst at East Asia Qianhai Securities, wrote in a research report.\nForeign-asset owners: Textile manufacturers and machinery companies will suffer, as they tend to have large proportions of assets denominated in foreign currencies, said Cliff Zhao, head of research at CCB International.\n\n— With assistance by Jeanny Yu, and Amy Li","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":113896084,"gmtCreate":1622601381948,"gmtModify":1704187127111,"author":{"id":"3579425512905776","authorId":"3579425512905776","name":"Sfun","avatar":"https://static.tigerbbs.com/677878018d08b9f3288b2153431bff4a","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3579425512905776","authorIdStr":"3579425512905776"},"htmlText":"reply","listText":"reply","text":"reply","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/113896084","repostId":1199569503,"repostType":4,"repost":{"id":"1199569503","kind":"news","pubTimestamp":1622599866,"share":"https://ttm.financial/m/news/1199569503?lang=&edition=fundamental","pubTime":"2021-06-02 10:11","market":"hk","language":"en","title":"Here Are the Winners and Losers From China’s Surging Yuan","url":"https://stock-news.laohu8.com/highlight/detail?id=1199569503","media":"Bloomberg","summary":"H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will ","content":"<ul>\n <li>H shares, property developers to see advantages in yuan gain</li>\n <li>Exporters that rely on price edge will face squeeze: analysts</li>\n</ul>\n<p><i>Sign up for Next <a href=\"https://laohu8.com/S/CAAS\">China</a>, a weekly email on where the nation stands now and where it's going next.</i></p>\n<p>China’s rising yuan has given equity investors a touchstone in their search for potential winners and losers.</p>\n<p>Benchmark stock indexes in both Hong Kong and on the mainland have been buoyed by the recent strength of theyuan, as capital chases assets denominated in a strengthening currency. The correlation between China’s benchmark CSI 300 Index and the onshore yuan’s strength is near the highest in seven months, while the Hang Seng Index is also most-linked to the currency’s movements since February, data compiled by Bloomberg show. But not every share is a beneficiary.</p>\n<p><img src=\"https://static.tigerbbs.com/b8a32602a4dc3c262575f6ea29a99597\" tg-width=\"620\" tg-height=\"348\" referrerpolicy=\"no-referrer\">Likely winners include companies that can take advantage of currency dichotomies, including Chinese property developers with sizable dollar debt and companies that generate most revenue in the mainland but are Hong Kong-listed, according to analysts.</p>\n<p>On the flip side of the currency equation are exporters, whose products will be less price-competitive when sold in foreign markets.</p>\n<p>The Chinese yuan has surged 12% against the dollar since May 2020, with the rally accelerating recently amid inflation concerns and the greenback’s weakness. Some investors expect the yuan rally continuing, despite the central bank taking a visiblemeasureto stem gains.</p>\n<p>“The central bank’s intervention will only slow down the pace of appreciation, not the direction of the appreciation,” said Jackson Wong, an asset management director at Amber <a href=\"https://laohu8.com/S/HIL\">Hill</a> Capital Ltd. “A rising Chinese currency historically has a positive correlation with both mainland and Hong Kong benchmark indexes, though some sectors will suffer.”</p>\n<p>Who wins:</p>\n<ul>\n <li>Dollar-debt borrowers: Companies to benefit most directly will be those that generate revenue in yuan while borrowing in foreign currencies, as debt is reduced. According toBloomberg data, about 24% of the total outstanding dollar-denominated bonds issued by all Chinese companies are from developers.</li>\n <li>Hong Kong-listed Chinese companies, or H shares: A stronger yuan bodes well for the H shares, as well as valuations and foreign inflows, said CICC analysts including Hanfeng Wang. While some investors may worry that a strong yuan could discourage southbound inflows because of potential foreign-exchange losses, historical experience suggests those inflows are positively correlated with the yuan, as a stronger yuan usually suggests better growth prospect for Chinese assets, Wang said.</li>\n <li>Consumer companies: A rising currency enhances purchasing power and consumer confidence, which benefits the consumer sector, said Yang Delong, chief economist at <a href=\"https://laohu8.com/S/FBNC\">First</a> Seafront Fund Management.</li>\n</ul>\n<p>Who loses:</p>\n<ul>\n <li>Labor-intensive exporters: Manufacturers such astoy makers, which rely on cheap prices to attract customers and generate most revenue overseas, may take a blow from a stronger yuan, Zheng Jiawei, analyst at East <a href=\"https://laohu8.com/S/00662\">Asia</a> Qianhai Securities, wrote in a research report.</li>\n <li>Foreign-asset owners: Textile manufacturers and machinery companies will suffer, as they tend to have large proportions of assets denominated in foreign currencies, said Cliff Zhao, head of research at <a href=\"https://laohu8.com/S/00939\">CCB</a> International.</li>\n</ul>\n<p><i>— With assistance by Jeanny Yu, and Amy Li</i></p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Here Are the Winners and Losers From China’s Surging Yuan</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHere Are the Winners and Losers From China’s Surging Yuan\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-02 10:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will face squeeze: analysts\n\nSign up for Next China, a weekly email on where the nation stands now and ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199569503","content_text":"H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will face squeeze: analysts\n\nSign up for Next China, a weekly email on where the nation stands now and where it's going next.\nChina’s rising yuan has given equity investors a touchstone in their search for potential winners and losers.\nBenchmark stock indexes in both Hong Kong and on the mainland have been buoyed by the recent strength of theyuan, as capital chases assets denominated in a strengthening currency. The correlation between China’s benchmark CSI 300 Index and the onshore yuan’s strength is near the highest in seven months, while the Hang Seng Index is also most-linked to the currency’s movements since February, data compiled by Bloomberg show. But not every share is a beneficiary.\nLikely winners include companies that can take advantage of currency dichotomies, including Chinese property developers with sizable dollar debt and companies that generate most revenue in the mainland but are Hong Kong-listed, according to analysts.\nOn the flip side of the currency equation are exporters, whose products will be less price-competitive when sold in foreign markets.\nThe Chinese yuan has surged 12% against the dollar since May 2020, with the rally accelerating recently amid inflation concerns and the greenback’s weakness. Some investors expect the yuan rally continuing, despite the central bank taking a visiblemeasureto stem gains.\n“The central bank’s intervention will only slow down the pace of appreciation, not the direction of the appreciation,” said Jackson Wong, an asset management director at Amber Hill Capital Ltd. “A rising Chinese currency historically has a positive correlation with both mainland and Hong Kong benchmark indexes, though some sectors will suffer.”\nWho wins:\n\nDollar-debt borrowers: Companies to benefit most directly will be those that generate revenue in yuan while borrowing in foreign currencies, as debt is reduced. According toBloomberg data, about 24% of the total outstanding dollar-denominated bonds issued by all Chinese companies are from developers.\nHong Kong-listed Chinese companies, or H shares: A stronger yuan bodes well for the H shares, as well as valuations and foreign inflows, said CICC analysts including Hanfeng Wang. While some investors may worry that a strong yuan could discourage southbound inflows because of potential foreign-exchange losses, historical experience suggests those inflows are positively correlated with the yuan, as a stronger yuan usually suggests better growth prospect for Chinese assets, Wang said.\nConsumer companies: A rising currency enhances purchasing power and consumer confidence, which benefits the consumer sector, said Yang Delong, chief economist at First Seafront Fund Management.\n\nWho loses:\n\nLabor-intensive exporters: Manufacturers such astoy makers, which rely on cheap prices to attract customers and generate most revenue overseas, may take a blow from a stronger yuan, Zheng Jiawei, analyst at East Asia Qianhai Securities, wrote in a research report.\nForeign-asset owners: Textile manufacturers and machinery companies will suffer, as they tend to have large proportions of assets denominated in foreign currencies, said Cliff Zhao, head of research at CCB International.\n\n— With assistance by Jeanny Yu, and Amy Li","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":113893902,"gmtCreate":1622601231606,"gmtModify":1704187123525,"author":{"id":"3581744038722274","authorId":"3581744038722274","name":"clementboey","avatar":"https://static.tigerbbs.com/6f9db2e9f6ccd52532313cb1f8de13f4","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3581744038722274","authorIdStr":"3581744038722274"},"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/113893902","repostId":1199569503,"repostType":4,"repost":{"id":"1199569503","kind":"news","pubTimestamp":1622599866,"share":"https://ttm.financial/m/news/1199569503?lang=&edition=fundamental","pubTime":"2021-06-02 10:11","market":"hk","language":"en","title":"Here Are the Winners and Losers From China’s Surging Yuan","url":"https://stock-news.laohu8.com/highlight/detail?id=1199569503","media":"Bloomberg","summary":"H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will ","content":"<ul>\n <li>H shares, property developers to see advantages in yuan gain</li>\n <li>Exporters that rely on price edge will face squeeze: analysts</li>\n</ul>\n<p><i>Sign up for Next <a href=\"https://laohu8.com/S/CAAS\">China</a>, a weekly email on where the nation stands now and where it's going next.</i></p>\n<p>China’s rising yuan has given equity investors a touchstone in their search for potential winners and losers.</p>\n<p>Benchmark stock indexes in both Hong Kong and on the mainland have been buoyed by the recent strength of theyuan, as capital chases assets denominated in a strengthening currency. The correlation between China’s benchmark CSI 300 Index and the onshore yuan’s strength is near the highest in seven months, while the Hang Seng Index is also most-linked to the currency’s movements since February, data compiled by Bloomberg show. But not every share is a beneficiary.</p>\n<p><img src=\"https://static.tigerbbs.com/b8a32602a4dc3c262575f6ea29a99597\" tg-width=\"620\" tg-height=\"348\" referrerpolicy=\"no-referrer\">Likely winners include companies that can take advantage of currency dichotomies, including Chinese property developers with sizable dollar debt and companies that generate most revenue in the mainland but are Hong Kong-listed, according to analysts.</p>\n<p>On the flip side of the currency equation are exporters, whose products will be less price-competitive when sold in foreign markets.</p>\n<p>The Chinese yuan has surged 12% against the dollar since May 2020, with the rally accelerating recently amid inflation concerns and the greenback’s weakness. Some investors expect the yuan rally continuing, despite the central bank taking a visiblemeasureto stem gains.</p>\n<p>“The central bank’s intervention will only slow down the pace of appreciation, not the direction of the appreciation,” said Jackson Wong, an asset management director at Amber <a href=\"https://laohu8.com/S/HIL\">Hill</a> Capital Ltd. “A rising Chinese currency historically has a positive correlation with both mainland and Hong Kong benchmark indexes, though some sectors will suffer.”</p>\n<p>Who wins:</p>\n<ul>\n <li>Dollar-debt borrowers: Companies to benefit most directly will be those that generate revenue in yuan while borrowing in foreign currencies, as debt is reduced. According toBloomberg data, about 24% of the total outstanding dollar-denominated bonds issued by all Chinese companies are from developers.</li>\n <li>Hong Kong-listed Chinese companies, or H shares: A stronger yuan bodes well for the H shares, as well as valuations and foreign inflows, said CICC analysts including Hanfeng Wang. While some investors may worry that a strong yuan could discourage southbound inflows because of potential foreign-exchange losses, historical experience suggests those inflows are positively correlated with the yuan, as a stronger yuan usually suggests better growth prospect for Chinese assets, Wang said.</li>\n <li>Consumer companies: A rising currency enhances purchasing power and consumer confidence, which benefits the consumer sector, said Yang Delong, chief economist at <a href=\"https://laohu8.com/S/FBNC\">First</a> Seafront Fund Management.</li>\n</ul>\n<p>Who loses:</p>\n<ul>\n <li>Labor-intensive exporters: Manufacturers such astoy makers, which rely on cheap prices to attract customers and generate most revenue overseas, may take a blow from a stronger yuan, Zheng Jiawei, analyst at East <a href=\"https://laohu8.com/S/00662\">Asia</a> Qianhai Securities, wrote in a research report.</li>\n <li>Foreign-asset owners: Textile manufacturers and machinery companies will suffer, as they tend to have large proportions of assets denominated in foreign currencies, said Cliff Zhao, head of research at <a href=\"https://laohu8.com/S/00939\">CCB</a> International.</li>\n</ul>\n<p><i>— With assistance by Jeanny Yu, and Amy Li</i></p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Here Are the Winners and Losers From China’s Surging Yuan</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHere Are the Winners and Losers From China’s Surging Yuan\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-02 10:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will face squeeze: analysts\n\nSign up for Next China, a weekly email on where the nation stands now and ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199569503","content_text":"H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will face squeeze: analysts\n\nSign up for Next China, a weekly email on where the nation stands now and where it's going next.\nChina’s rising yuan has given equity investors a touchstone in their search for potential winners and losers.\nBenchmark stock indexes in both Hong Kong and on the mainland have been buoyed by the recent strength of theyuan, as capital chases assets denominated in a strengthening currency. The correlation between China’s benchmark CSI 300 Index and the onshore yuan’s strength is near the highest in seven months, while the Hang Seng Index is also most-linked to the currency’s movements since February, data compiled by Bloomberg show. But not every share is a beneficiary.\nLikely winners include companies that can take advantage of currency dichotomies, including Chinese property developers with sizable dollar debt and companies that generate most revenue in the mainland but are Hong Kong-listed, according to analysts.\nOn the flip side of the currency equation are exporters, whose products will be less price-competitive when sold in foreign markets.\nThe Chinese yuan has surged 12% against the dollar since May 2020, with the rally accelerating recently amid inflation concerns and the greenback’s weakness. Some investors expect the yuan rally continuing, despite the central bank taking a visiblemeasureto stem gains.\n“The central bank’s intervention will only slow down the pace of appreciation, not the direction of the appreciation,” said Jackson Wong, an asset management director at Amber Hill Capital Ltd. “A rising Chinese currency historically has a positive correlation with both mainland and Hong Kong benchmark indexes, though some sectors will suffer.”\nWho wins:\n\nDollar-debt borrowers: Companies to benefit most directly will be those that generate revenue in yuan while borrowing in foreign currencies, as debt is reduced. According toBloomberg data, about 24% of the total outstanding dollar-denominated bonds issued by all Chinese companies are from developers.\nHong Kong-listed Chinese companies, or H shares: A stronger yuan bodes well for the H shares, as well as valuations and foreign inflows, said CICC analysts including Hanfeng Wang. While some investors may worry that a strong yuan could discourage southbound inflows because of potential foreign-exchange losses, historical experience suggests those inflows are positively correlated with the yuan, as a stronger yuan usually suggests better growth prospect for Chinese assets, Wang said.\nConsumer companies: A rising currency enhances purchasing power and consumer confidence, which benefits the consumer sector, said Yang Delong, chief economist at First Seafront Fund Management.\n\nWho loses:\n\nLabor-intensive exporters: Manufacturers such astoy makers, which rely on cheap prices to attract customers and generate most revenue overseas, may take a blow from a stronger yuan, Zheng Jiawei, analyst at East Asia Qianhai Securities, wrote in a research report.\nForeign-asset owners: Textile manufacturers and machinery companies will suffer, as they tend to have large proportions of assets denominated in foreign currencies, said Cliff Zhao, head of research at CCB International.\n\n— With assistance by Jeanny Yu, and Amy Li","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":113804660,"gmtCreate":1622601007450,"gmtModify":1704187118746,"author":{"id":"3579085067033099","authorId":"3579085067033099","name":"deadcow","avatar":"https://static.tigerbbs.com/b73e551a33ab83c745d06a9d890b1f93","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3579085067033099","authorIdStr":"3579085067033099"},"htmlText":"reply pls","listText":"reply pls","text":"reply pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/113804660","repostId":1199569503,"repostType":4,"repost":{"id":"1199569503","kind":"news","pubTimestamp":1622599866,"share":"https://ttm.financial/m/news/1199569503?lang=&edition=fundamental","pubTime":"2021-06-02 10:11","market":"hk","language":"en","title":"Here Are the Winners and Losers From China’s Surging Yuan","url":"https://stock-news.laohu8.com/highlight/detail?id=1199569503","media":"Bloomberg","summary":"H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will ","content":"<ul>\n <li>H shares, property developers to see advantages in yuan gain</li>\n <li>Exporters that rely on price edge will face squeeze: analysts</li>\n</ul>\n<p><i>Sign up for Next <a href=\"https://laohu8.com/S/CAAS\">China</a>, a weekly email on where the nation stands now and where it's going next.</i></p>\n<p>China’s rising yuan has given equity investors a touchstone in their search for potential winners and losers.</p>\n<p>Benchmark stock indexes in both Hong Kong and on the mainland have been buoyed by the recent strength of theyuan, as capital chases assets denominated in a strengthening currency. The correlation between China’s benchmark CSI 300 Index and the onshore yuan’s strength is near the highest in seven months, while the Hang Seng Index is also most-linked to the currency’s movements since February, data compiled by Bloomberg show. But not every share is a beneficiary.</p>\n<p><img src=\"https://static.tigerbbs.com/b8a32602a4dc3c262575f6ea29a99597\" tg-width=\"620\" tg-height=\"348\" referrerpolicy=\"no-referrer\">Likely winners include companies that can take advantage of currency dichotomies, including Chinese property developers with sizable dollar debt and companies that generate most revenue in the mainland but are Hong Kong-listed, according to analysts.</p>\n<p>On the flip side of the currency equation are exporters, whose products will be less price-competitive when sold in foreign markets.</p>\n<p>The Chinese yuan has surged 12% against the dollar since May 2020, with the rally accelerating recently amid inflation concerns and the greenback’s weakness. Some investors expect the yuan rally continuing, despite the central bank taking a visiblemeasureto stem gains.</p>\n<p>“The central bank’s intervention will only slow down the pace of appreciation, not the direction of the appreciation,” said Jackson Wong, an asset management director at Amber <a href=\"https://laohu8.com/S/HIL\">Hill</a> Capital Ltd. “A rising Chinese currency historically has a positive correlation with both mainland and Hong Kong benchmark indexes, though some sectors will suffer.”</p>\n<p>Who wins:</p>\n<ul>\n <li>Dollar-debt borrowers: Companies to benefit most directly will be those that generate revenue in yuan while borrowing in foreign currencies, as debt is reduced. According toBloomberg data, about 24% of the total outstanding dollar-denominated bonds issued by all Chinese companies are from developers.</li>\n <li>Hong Kong-listed Chinese companies, or H shares: A stronger yuan bodes well for the H shares, as well as valuations and foreign inflows, said CICC analysts including Hanfeng Wang. While some investors may worry that a strong yuan could discourage southbound inflows because of potential foreign-exchange losses, historical experience suggests those inflows are positively correlated with the yuan, as a stronger yuan usually suggests better growth prospect for Chinese assets, Wang said.</li>\n <li>Consumer companies: A rising currency enhances purchasing power and consumer confidence, which benefits the consumer sector, said Yang Delong, chief economist at <a href=\"https://laohu8.com/S/FBNC\">First</a> Seafront Fund Management.</li>\n</ul>\n<p>Who loses:</p>\n<ul>\n <li>Labor-intensive exporters: Manufacturers such astoy makers, which rely on cheap prices to attract customers and generate most revenue overseas, may take a blow from a stronger yuan, Zheng Jiawei, analyst at East <a href=\"https://laohu8.com/S/00662\">Asia</a> Qianhai Securities, wrote in a research report.</li>\n <li>Foreign-asset owners: Textile manufacturers and machinery companies will suffer, as they tend to have large proportions of assets denominated in foreign currencies, said Cliff Zhao, head of research at <a href=\"https://laohu8.com/S/00939\">CCB</a> International.</li>\n</ul>\n<p><i>— With assistance by Jeanny Yu, and Amy Li</i></p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Here Are the Winners and Losers From China’s Surging Yuan</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHere Are the Winners and Losers From China’s Surging Yuan\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-02 10:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will face squeeze: analysts\n\nSign up for Next China, a weekly email on where the nation stands now and ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199569503","content_text":"H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will face squeeze: analysts\n\nSign up for Next China, a weekly email on where the nation stands now and where it's going next.\nChina’s rising yuan has given equity investors a touchstone in their search for potential winners and losers.\nBenchmark stock indexes in both Hong Kong and on the mainland have been buoyed by the recent strength of theyuan, as capital chases assets denominated in a strengthening currency. The correlation between China’s benchmark CSI 300 Index and the onshore yuan’s strength is near the highest in seven months, while the Hang Seng Index is also most-linked to the currency’s movements since February, data compiled by Bloomberg show. But not every share is a beneficiary.\nLikely winners include companies that can take advantage of currency dichotomies, including Chinese property developers with sizable dollar debt and companies that generate most revenue in the mainland but are Hong Kong-listed, according to analysts.\nOn the flip side of the currency equation are exporters, whose products will be less price-competitive when sold in foreign markets.\nThe Chinese yuan has surged 12% against the dollar since May 2020, with the rally accelerating recently amid inflation concerns and the greenback’s weakness. Some investors expect the yuan rally continuing, despite the central bank taking a visiblemeasureto stem gains.\n“The central bank’s intervention will only slow down the pace of appreciation, not the direction of the appreciation,” said Jackson Wong, an asset management director at Amber Hill Capital Ltd. “A rising Chinese currency historically has a positive correlation with both mainland and Hong Kong benchmark indexes, though some sectors will suffer.”\nWho wins:\n\nDollar-debt borrowers: Companies to benefit most directly will be those that generate revenue in yuan while borrowing in foreign currencies, as debt is reduced. According toBloomberg data, about 24% of the total outstanding dollar-denominated bonds issued by all Chinese companies are from developers.\nHong Kong-listed Chinese companies, or H shares: A stronger yuan bodes well for the H shares, as well as valuations and foreign inflows, said CICC analysts including Hanfeng Wang. While some investors may worry that a strong yuan could discourage southbound inflows because of potential foreign-exchange losses, historical experience suggests those inflows are positively correlated with the yuan, as a stronger yuan usually suggests better growth prospect for Chinese assets, Wang said.\nConsumer companies: A rising currency enhances purchasing power and consumer confidence, which benefits the consumer sector, said Yang Delong, chief economist at First Seafront Fund Management.\n\nWho loses:\n\nLabor-intensive exporters: Manufacturers such astoy makers, which rely on cheap prices to attract customers and generate most revenue overseas, may take a blow from a stronger yuan, Zheng Jiawei, analyst at East Asia Qianhai Securities, wrote in a research report.\nForeign-asset owners: Textile manufacturers and machinery companies will suffer, as they tend to have large proportions of assets denominated in foreign currencies, said Cliff Zhao, head of research at CCB International.\n\n— With assistance by Jeanny Yu, and Amy Li","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4540067,"gmtCreate":1622601346586,"gmtModify":1680792571835,"authorId":3577186651876260,"author":{"id":3577186651876260,"idStr":"3577186651876260","authorId":3577186651876260,"name":"KenKai","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":113804660,"type":1,"supId":0,"prevId":0,"content":"D","text":"D","html":"D"}],"langContent":"EN"},{"id":113802776,"gmtCreate":1622600899595,"gmtModify":1704187116462,"author":{"id":"3555306185724245","authorId":"3555306185724245","name":"starrys","avatar":"https://static.tigerbbs.com/c5fdf02892a55030cf24ff3c4a3678c0","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3555306185724245","authorIdStr":"3555306185724245"},"htmlText":"Like n share pls","listText":"Like n share pls","text":"Like n share pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/113802776","repostId":1199569503,"repostType":4,"repost":{"id":"1199569503","kind":"news","pubTimestamp":1622599866,"share":"https://ttm.financial/m/news/1199569503?lang=&edition=fundamental","pubTime":"2021-06-02 10:11","market":"hk","language":"en","title":"Here Are the Winners and Losers From China’s Surging Yuan","url":"https://stock-news.laohu8.com/highlight/detail?id=1199569503","media":"Bloomberg","summary":"H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will ","content":"<ul>\n <li>H shares, property developers to see advantages in yuan gain</li>\n <li>Exporters that rely on price edge will face squeeze: analysts</li>\n</ul>\n<p><i>Sign up for Next <a href=\"https://laohu8.com/S/CAAS\">China</a>, a weekly email on where the nation stands now and where it's going next.</i></p>\n<p>China’s rising yuan has given equity investors a touchstone in their search for potential winners and losers.</p>\n<p>Benchmark stock indexes in both Hong Kong and on the mainland have been buoyed by the recent strength of theyuan, as capital chases assets denominated in a strengthening currency. The correlation between China’s benchmark CSI 300 Index and the onshore yuan’s strength is near the highest in seven months, while the Hang Seng Index is also most-linked to the currency’s movements since February, data compiled by Bloomberg show. But not every share is a beneficiary.</p>\n<p><img src=\"https://static.tigerbbs.com/b8a32602a4dc3c262575f6ea29a99597\" tg-width=\"620\" tg-height=\"348\" referrerpolicy=\"no-referrer\">Likely winners include companies that can take advantage of currency dichotomies, including Chinese property developers with sizable dollar debt and companies that generate most revenue in the mainland but are Hong Kong-listed, according to analysts.</p>\n<p>On the flip side of the currency equation are exporters, whose products will be less price-competitive when sold in foreign markets.</p>\n<p>The Chinese yuan has surged 12% against the dollar since May 2020, with the rally accelerating recently amid inflation concerns and the greenback’s weakness. Some investors expect the yuan rally continuing, despite the central bank taking a visiblemeasureto stem gains.</p>\n<p>“The central bank’s intervention will only slow down the pace of appreciation, not the direction of the appreciation,” said Jackson Wong, an asset management director at Amber <a href=\"https://laohu8.com/S/HIL\">Hill</a> Capital Ltd. “A rising Chinese currency historically has a positive correlation with both mainland and Hong Kong benchmark indexes, though some sectors will suffer.”</p>\n<p>Who wins:</p>\n<ul>\n <li>Dollar-debt borrowers: Companies to benefit most directly will be those that generate revenue in yuan while borrowing in foreign currencies, as debt is reduced. According toBloomberg data, about 24% of the total outstanding dollar-denominated bonds issued by all Chinese companies are from developers.</li>\n <li>Hong Kong-listed Chinese companies, or H shares: A stronger yuan bodes well for the H shares, as well as valuations and foreign inflows, said CICC analysts including Hanfeng Wang. While some investors may worry that a strong yuan could discourage southbound inflows because of potential foreign-exchange losses, historical experience suggests those inflows are positively correlated with the yuan, as a stronger yuan usually suggests better growth prospect for Chinese assets, Wang said.</li>\n <li>Consumer companies: A rising currency enhances purchasing power and consumer confidence, which benefits the consumer sector, said Yang Delong, chief economist at <a href=\"https://laohu8.com/S/FBNC\">First</a> Seafront Fund Management.</li>\n</ul>\n<p>Who loses:</p>\n<ul>\n <li>Labor-intensive exporters: Manufacturers such astoy makers, which rely on cheap prices to attract customers and generate most revenue overseas, may take a blow from a stronger yuan, Zheng Jiawei, analyst at East <a href=\"https://laohu8.com/S/00662\">Asia</a> Qianhai Securities, wrote in a research report.</li>\n <li>Foreign-asset owners: Textile manufacturers and machinery companies will suffer, as they tend to have large proportions of assets denominated in foreign currencies, said Cliff Zhao, head of research at <a href=\"https://laohu8.com/S/00939\">CCB</a> International.</li>\n</ul>\n<p><i>— With assistance by Jeanny Yu, and Amy Li</i></p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Here Are the Winners and Losers From China’s Surging Yuan</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHere Are the Winners and Losers From China’s Surging Yuan\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-02 10:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will face squeeze: analysts\n\nSign up for Next China, a weekly email on where the nation stands now and ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199569503","content_text":"H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will face squeeze: analysts\n\nSign up for Next China, a weekly email on where the nation stands now and where it's going next.\nChina’s rising yuan has given equity investors a touchstone in their search for potential winners and losers.\nBenchmark stock indexes in both Hong Kong and on the mainland have been buoyed by the recent strength of theyuan, as capital chases assets denominated in a strengthening currency. The correlation between China’s benchmark CSI 300 Index and the onshore yuan’s strength is near the highest in seven months, while the Hang Seng Index is also most-linked to the currency’s movements since February, data compiled by Bloomberg show. But not every share is a beneficiary.\nLikely winners include companies that can take advantage of currency dichotomies, including Chinese property developers with sizable dollar debt and companies that generate most revenue in the mainland but are Hong Kong-listed, according to analysts.\nOn the flip side of the currency equation are exporters, whose products will be less price-competitive when sold in foreign markets.\nThe Chinese yuan has surged 12% against the dollar since May 2020, with the rally accelerating recently amid inflation concerns and the greenback’s weakness. Some investors expect the yuan rally continuing, despite the central bank taking a visiblemeasureto stem gains.\n“The central bank’s intervention will only slow down the pace of appreciation, not the direction of the appreciation,” said Jackson Wong, an asset management director at Amber Hill Capital Ltd. “A rising Chinese currency historically has a positive correlation with both mainland and Hong Kong benchmark indexes, though some sectors will suffer.”\nWho wins:\n\nDollar-debt borrowers: Companies to benefit most directly will be those that generate revenue in yuan while borrowing in foreign currencies, as debt is reduced. According toBloomberg data, about 24% of the total outstanding dollar-denominated bonds issued by all Chinese companies are from developers.\nHong Kong-listed Chinese companies, or H shares: A stronger yuan bodes well for the H shares, as well as valuations and foreign inflows, said CICC analysts including Hanfeng Wang. While some investors may worry that a strong yuan could discourage southbound inflows because of potential foreign-exchange losses, historical experience suggests those inflows are positively correlated with the yuan, as a stronger yuan usually suggests better growth prospect for Chinese assets, Wang said.\nConsumer companies: A rising currency enhances purchasing power and consumer confidence, which benefits the consumer sector, said Yang Delong, chief economist at First Seafront Fund Management.\n\nWho loses:\n\nLabor-intensive exporters: Manufacturers such astoy makers, which rely on cheap prices to attract customers and generate most revenue overseas, may take a blow from a stronger yuan, Zheng Jiawei, analyst at East Asia Qianhai Securities, wrote in a research report.\nForeign-asset owners: Textile manufacturers and machinery companies will suffer, as they tend to have large proportions of assets denominated in foreign currencies, said Cliff Zhao, head of research at CCB International.\n\n— With assistance by Jeanny Yu, and Amy Li","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":113809866,"gmtCreate":1622600625655,"gmtModify":1704187109167,"author":{"id":"3583746142103127","authorId":"3583746142103127","name":"Aloylim1117","avatar":"https://static.tigerbbs.com/2b86fb55c253b95f20be8dace236d390","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3583746142103127","authorIdStr":"3583746142103127"},"htmlText":"Comment or like pls","listText":"Comment or like pls","text":"Comment or like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/113809866","repostId":1199569503,"repostType":4,"repost":{"id":"1199569503","kind":"news","pubTimestamp":1622599866,"share":"https://ttm.financial/m/news/1199569503?lang=&edition=fundamental","pubTime":"2021-06-02 10:11","market":"hk","language":"en","title":"Here Are the Winners and Losers From China’s Surging Yuan","url":"https://stock-news.laohu8.com/highlight/detail?id=1199569503","media":"Bloomberg","summary":"H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will ","content":"<ul>\n <li>H shares, property developers to see advantages in yuan gain</li>\n <li>Exporters that rely on price edge will face squeeze: analysts</li>\n</ul>\n<p><i>Sign up for Next <a href=\"https://laohu8.com/S/CAAS\">China</a>, a weekly email on where the nation stands now and where it's going next.</i></p>\n<p>China’s rising yuan has given equity investors a touchstone in their search for potential winners and losers.</p>\n<p>Benchmark stock indexes in both Hong Kong and on the mainland have been buoyed by the recent strength of theyuan, as capital chases assets denominated in a strengthening currency. The correlation between China’s benchmark CSI 300 Index and the onshore yuan’s strength is near the highest in seven months, while the Hang Seng Index is also most-linked to the currency’s movements since February, data compiled by Bloomberg show. But not every share is a beneficiary.</p>\n<p><img src=\"https://static.tigerbbs.com/b8a32602a4dc3c262575f6ea29a99597\" tg-width=\"620\" tg-height=\"348\" referrerpolicy=\"no-referrer\">Likely winners include companies that can take advantage of currency dichotomies, including Chinese property developers with sizable dollar debt and companies that generate most revenue in the mainland but are Hong Kong-listed, according to analysts.</p>\n<p>On the flip side of the currency equation are exporters, whose products will be less price-competitive when sold in foreign markets.</p>\n<p>The Chinese yuan has surged 12% against the dollar since May 2020, with the rally accelerating recently amid inflation concerns and the greenback’s weakness. Some investors expect the yuan rally continuing, despite the central bank taking a visiblemeasureto stem gains.</p>\n<p>“The central bank’s intervention will only slow down the pace of appreciation, not the direction of the appreciation,” said Jackson Wong, an asset management director at Amber <a href=\"https://laohu8.com/S/HIL\">Hill</a> Capital Ltd. “A rising Chinese currency historically has a positive correlation with both mainland and Hong Kong benchmark indexes, though some sectors will suffer.”</p>\n<p>Who wins:</p>\n<ul>\n <li>Dollar-debt borrowers: Companies to benefit most directly will be those that generate revenue in yuan while borrowing in foreign currencies, as debt is reduced. According toBloomberg data, about 24% of the total outstanding dollar-denominated bonds issued by all Chinese companies are from developers.</li>\n <li>Hong Kong-listed Chinese companies, or H shares: A stronger yuan bodes well for the H shares, as well as valuations and foreign inflows, said CICC analysts including Hanfeng Wang. While some investors may worry that a strong yuan could discourage southbound inflows because of potential foreign-exchange losses, historical experience suggests those inflows are positively correlated with the yuan, as a stronger yuan usually suggests better growth prospect for Chinese assets, Wang said.</li>\n <li>Consumer companies: A rising currency enhances purchasing power and consumer confidence, which benefits the consumer sector, said Yang Delong, chief economist at <a href=\"https://laohu8.com/S/FBNC\">First</a> Seafront Fund Management.</li>\n</ul>\n<p>Who loses:</p>\n<ul>\n <li>Labor-intensive exporters: Manufacturers such astoy makers, which rely on cheap prices to attract customers and generate most revenue overseas, may take a blow from a stronger yuan, Zheng Jiawei, analyst at East <a href=\"https://laohu8.com/S/00662\">Asia</a> Qianhai Securities, wrote in a research report.</li>\n <li>Foreign-asset owners: Textile manufacturers and machinery companies will suffer, as they tend to have large proportions of assets denominated in foreign currencies, said Cliff Zhao, head of research at <a href=\"https://laohu8.com/S/00939\">CCB</a> International.</li>\n</ul>\n<p><i>— With assistance by Jeanny Yu, and Amy Li</i></p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Here Are the Winners and Losers From China’s Surging Yuan</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHere Are the Winners and Losers From China’s Surging Yuan\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-02 10:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will face squeeze: analysts\n\nSign up for Next China, a weekly email on where the nation stands now and ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199569503","content_text":"H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will face squeeze: analysts\n\nSign up for Next China, a weekly email on where the nation stands now and where it's going next.\nChina’s rising yuan has given equity investors a touchstone in their search for potential winners and losers.\nBenchmark stock indexes in both Hong Kong and on the mainland have been buoyed by the recent strength of theyuan, as capital chases assets denominated in a strengthening currency. The correlation between China’s benchmark CSI 300 Index and the onshore yuan’s strength is near the highest in seven months, while the Hang Seng Index is also most-linked to the currency’s movements since February, data compiled by Bloomberg show. But not every share is a beneficiary.\nLikely winners include companies that can take advantage of currency dichotomies, including Chinese property developers with sizable dollar debt and companies that generate most revenue in the mainland but are Hong Kong-listed, according to analysts.\nOn the flip side of the currency equation are exporters, whose products will be less price-competitive when sold in foreign markets.\nThe Chinese yuan has surged 12% against the dollar since May 2020, with the rally accelerating recently amid inflation concerns and the greenback’s weakness. Some investors expect the yuan rally continuing, despite the central bank taking a visiblemeasureto stem gains.\n“The central bank’s intervention will only slow down the pace of appreciation, not the direction of the appreciation,” said Jackson Wong, an asset management director at Amber Hill Capital Ltd. “A rising Chinese currency historically has a positive correlation with both mainland and Hong Kong benchmark indexes, though some sectors will suffer.”\nWho wins:\n\nDollar-debt borrowers: Companies to benefit most directly will be those that generate revenue in yuan while borrowing in foreign currencies, as debt is reduced. According toBloomberg data, about 24% of the total outstanding dollar-denominated bonds issued by all Chinese companies are from developers.\nHong Kong-listed Chinese companies, or H shares: A stronger yuan bodes well for the H shares, as well as valuations and foreign inflows, said CICC analysts including Hanfeng Wang. While some investors may worry that a strong yuan could discourage southbound inflows because of potential foreign-exchange losses, historical experience suggests those inflows are positively correlated with the yuan, as a stronger yuan usually suggests better growth prospect for Chinese assets, Wang said.\nConsumer companies: A rising currency enhances purchasing power and consumer confidence, which benefits the consumer sector, said Yang Delong, chief economist at First Seafront Fund Management.\n\nWho loses:\n\nLabor-intensive exporters: Manufacturers such astoy makers, which rely on cheap prices to attract customers and generate most revenue overseas, may take a blow from a stronger yuan, Zheng Jiawei, analyst at East Asia Qianhai Securities, wrote in a research report.\nForeign-asset owners: Textile manufacturers and machinery companies will suffer, as they tend to have large proportions of assets denominated in foreign currencies, said Cliff Zhao, head of research at CCB International.\n\n— With assistance by Jeanny Yu, and Amy Li","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4540013,"gmtCreate":1622601018592,"gmtModify":1680792569631,"authorId":3579085067033099,"author":{"id":3579085067033099,"idStr":"3579085067033099","authorId":3579085067033099,"name":"deadcow","avatar":"https://static.tigerbbs.com/b73e551a33ab83c745d06a9d890b1f93","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":113809866,"type":1,"supId":0,"prevId":0,"content":"reply pl<u><u>s</u></u>","text":"reply pl<u><u>s</u></u>","html":"reply pl<u><u>s</u></u>"}],"langContent":"EN"},{"id":113174861,"gmtCreate":1622600465053,"gmtModify":1704187105103,"author":{"id":"3577075923922212","authorId":"3577075923922212","name":"jijimo","avatar":"https://static.tigerbbs.com/22bac6d28b6513739fc962def9c071bd","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3577075923922212","authorIdStr":"3577075923922212"},"htmlText":"Like and comment&nbsp;","listText":"Like and comment&nbsp;","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/113174861","repostId":1199569503,"repostType":4,"repost":{"id":"1199569503","kind":"news","pubTimestamp":1622599866,"share":"https://ttm.financial/m/news/1199569503?lang=&edition=fundamental","pubTime":"2021-06-02 10:11","market":"hk","language":"en","title":"Here Are the Winners and Losers From China’s Surging Yuan","url":"https://stock-news.laohu8.com/highlight/detail?id=1199569503","media":"Bloomberg","summary":"H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will ","content":"<ul>\n <li>H shares, property developers to see advantages in yuan gain</li>\n <li>Exporters that rely on price edge will face squeeze: analysts</li>\n</ul>\n<p><i>Sign up for Next <a href=\"https://laohu8.com/S/CAAS\">China</a>, a weekly email on where the nation stands now and where it's going next.</i></p>\n<p>China’s rising yuan has given equity investors a touchstone in their search for potential winners and losers.</p>\n<p>Benchmark stock indexes in both Hong Kong and on the mainland have been buoyed by the recent strength of theyuan, as capital chases assets denominated in a strengthening currency. The correlation between China’s benchmark CSI 300 Index and the onshore yuan’s strength is near the highest in seven months, while the Hang Seng Index is also most-linked to the currency’s movements since February, data compiled by Bloomberg show. But not every share is a beneficiary.</p>\n<p><img src=\"https://static.tigerbbs.com/b8a32602a4dc3c262575f6ea29a99597\" tg-width=\"620\" tg-height=\"348\" referrerpolicy=\"no-referrer\">Likely winners include companies that can take advantage of currency dichotomies, including Chinese property developers with sizable dollar debt and companies that generate most revenue in the mainland but are Hong Kong-listed, according to analysts.</p>\n<p>On the flip side of the currency equation are exporters, whose products will be less price-competitive when sold in foreign markets.</p>\n<p>The Chinese yuan has surged 12% against the dollar since May 2020, with the rally accelerating recently amid inflation concerns and the greenback’s weakness. Some investors expect the yuan rally continuing, despite the central bank taking a visiblemeasureto stem gains.</p>\n<p>“The central bank’s intervention will only slow down the pace of appreciation, not the direction of the appreciation,” said Jackson Wong, an asset management director at Amber <a href=\"https://laohu8.com/S/HIL\">Hill</a> Capital Ltd. “A rising Chinese currency historically has a positive correlation with both mainland and Hong Kong benchmark indexes, though some sectors will suffer.”</p>\n<p>Who wins:</p>\n<ul>\n <li>Dollar-debt borrowers: Companies to benefit most directly will be those that generate revenue in yuan while borrowing in foreign currencies, as debt is reduced. According toBloomberg data, about 24% of the total outstanding dollar-denominated bonds issued by all Chinese companies are from developers.</li>\n <li>Hong Kong-listed Chinese companies, or H shares: A stronger yuan bodes well for the H shares, as well as valuations and foreign inflows, said CICC analysts including Hanfeng Wang. While some investors may worry that a strong yuan could discourage southbound inflows because of potential foreign-exchange losses, historical experience suggests those inflows are positively correlated with the yuan, as a stronger yuan usually suggests better growth prospect for Chinese assets, Wang said.</li>\n <li>Consumer companies: A rising currency enhances purchasing power and consumer confidence, which benefits the consumer sector, said Yang Delong, chief economist at <a href=\"https://laohu8.com/S/FBNC\">First</a> Seafront Fund Management.</li>\n</ul>\n<p>Who loses:</p>\n<ul>\n <li>Labor-intensive exporters: Manufacturers such astoy makers, which rely on cheap prices to attract customers and generate most revenue overseas, may take a blow from a stronger yuan, Zheng Jiawei, analyst at East <a href=\"https://laohu8.com/S/00662\">Asia</a> Qianhai Securities, wrote in a research report.</li>\n <li>Foreign-asset owners: Textile manufacturers and machinery companies will suffer, as they tend to have large proportions of assets denominated in foreign currencies, said Cliff Zhao, head of research at <a href=\"https://laohu8.com/S/00939\">CCB</a> International.</li>\n</ul>\n<p><i>— With assistance by Jeanny Yu, and Amy Li</i></p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Here Are the Winners and Losers From China’s Surging Yuan</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHere Are the Winners and Losers From China’s Surging Yuan\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-02 10:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will face squeeze: analysts\n\nSign up for Next China, a weekly email on where the nation stands now and ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.bloomberg.com/news/articles/2021-06-01/here-are-the-winners-and-losers-from-china-s-surging-yuan","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199569503","content_text":"H shares, property developers to see advantages in yuan gain\nExporters that rely on price edge will face squeeze: analysts\n\nSign up for Next China, a weekly email on where the nation stands now and where it's going next.\nChina’s rising yuan has given equity investors a touchstone in their search for potential winners and losers.\nBenchmark stock indexes in both Hong Kong and on the mainland have been buoyed by the recent strength of theyuan, as capital chases assets denominated in a strengthening currency. The correlation between China’s benchmark CSI 300 Index and the onshore yuan’s strength is near the highest in seven months, while the Hang Seng Index is also most-linked to the currency’s movements since February, data compiled by Bloomberg show. But not every share is a beneficiary.\nLikely winners include companies that can take advantage of currency dichotomies, including Chinese property developers with sizable dollar debt and companies that generate most revenue in the mainland but are Hong Kong-listed, according to analysts.\nOn the flip side of the currency equation are exporters, whose products will be less price-competitive when sold in foreign markets.\nThe Chinese yuan has surged 12% against the dollar since May 2020, with the rally accelerating recently amid inflation concerns and the greenback’s weakness. Some investors expect the yuan rally continuing, despite the central bank taking a visiblemeasureto stem gains.\n“The central bank’s intervention will only slow down the pace of appreciation, not the direction of the appreciation,” said Jackson Wong, an asset management director at Amber Hill Capital Ltd. “A rising Chinese currency historically has a positive correlation with both mainland and Hong Kong benchmark indexes, though some sectors will suffer.”\nWho wins:\n\nDollar-debt borrowers: Companies to benefit most directly will be those that generate revenue in yuan while borrowing in foreign currencies, as debt is reduced. According toBloomberg data, about 24% of the total outstanding dollar-denominated bonds issued by all Chinese companies are from developers.\nHong Kong-listed Chinese companies, or H shares: A stronger yuan bodes well for the H shares, as well as valuations and foreign inflows, said CICC analysts including Hanfeng Wang. While some investors may worry that a strong yuan could discourage southbound inflows because of potential foreign-exchange losses, historical experience suggests those inflows are positively correlated with the yuan, as a stronger yuan usually suggests better growth prospect for Chinese assets, Wang said.\nConsumer companies: A rising currency enhances purchasing power and consumer confidence, which benefits the consumer sector, said Yang Delong, chief economist at First Seafront Fund Management.\n\nWho loses:\n\nLabor-intensive exporters: Manufacturers such astoy makers, which rely on cheap prices to attract customers and generate most revenue overseas, may take a blow from a stronger yuan, Zheng Jiawei, analyst at East Asia Qianhai Securities, wrote in a research report.\nForeign-asset owners: Textile manufacturers and machinery companies will suffer, as they tend to have large proportions of assets denominated in foreign currencies, said Cliff Zhao, head of research at CCB International.\n\n— With assistance by Jeanny Yu, and Amy Li","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4539932,"gmtCreate":1622600644024,"gmtModify":1680792575718,"authorId":3583746142103127,"author":{"id":3583746142103127,"idStr":"3583746142103127","authorId":3583746142103127,"name":"Aloylim1117","avatar":"https://static.tigerbbs.com/2b86fb55c253b95f20be8dace236d390","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":113174861,"type":1,"supId":0,"prevId":0,"content":"Done","text":"Done","html":"Done"},{"id":4540074,"gmtCreate":1622601401807,"gmtModify":1680792570422,"authorId":3579425512905776,"author":{"id":3579425512905776,"idStr":"3579425512905776","authorId":3579425512905776,"name":"Sfun","avatar":"https://static.tigerbbs.com/677878018d08b9f3288b2153431bff4a","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":113174861,"type":1,"supId":4539932,"prevId":0,"content":"reply her<u><u>e</u></u>","text":"reply her<u><u>e</u></u>","html":"reply her<u><u>e</u></u>"}],"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":71,"commentSize":20,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}