Beijing’s muscle-flexing doesn’t worry only Western statesmen who fear for the future of Hong Kong and Taiwan: ordinary investors in this country are feeling the effects in their pockets.
In our investment trust column of last week we covered the consequences for holders of the Fidelity China Special Situations trust of China’s recent crackdown on businesses of various types. Today we’ll look at the individual stock most directly affected among this column’s recommendations.
That we had such a stock may not have been obvious at first sight. This is because it is listed not in Shanghai, Hong Kong or even, like many Chinese firms, New York, but in Amsterdam. The stock is Prosus and its susceptibility to Beijing’s actions comes about because its biggest asset is a stake in Tencent, one of China’s digital giants, and Tencent has been very much in the Chinese Communist party’s sights.
UK inflation beats BoE forecasts with 2 5% 12-month uptick
investmentweek.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investmentweek.co.uk Daily Mail and Mail on Sunday newspapers.
Global Markets: Stocks grind higher as investors ponder US inflation signals
channelnewsasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from channelnewsasia.com Daily Mail and Mail on Sunday newspapers.