|Bid||173.61 x 1100|
|Ask||173.85 x 800|
|Day's range||173.46 - 175.52|
|52-week range||129.77 - 198.35|
|Beta (3Y monthly)||1.84|
|PE ratio (TTM)||49.81|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
Investors have been keeping their eyes locked on the relationship between the US and China as the rhetoric spewing from the conflict has impacted the stock market for the over a year now.
The one-to-eight stock split would mean the current number of ordinary shares — which stands at 4 billion — will increase to 32 billion. It comes ahead of a reported Hong Kong listing.
(Bloomberg Opinion) -- Since the U.K. decided more than three years ago to leave the European Union, the nation's savviest investors have succeeded by putting their money where Brexit matters least.Uncertainty about the date of Britain’s departure (now pushed back to Oct. 31) and the terms of the divorce has meant purging the U.K. from their holdings or limiting them to investments traditionally impervious to man-made and natural disasters. Over 38 months, British sterling depreciated 16 percent, the worst shrinkage for any similar period in 8 years. The pound remains the poorest performer in the actively-traded foreign exchange market and inferior to the No. 3 euro.Europe's strongest major economy in the 21st century became a shadow of its former self, reversing two decades preceding the June 23, 2016 referendum when the U.K. outperformed the European Union in growth and investment. London's stock and bond markets similarly languished as laggards to world benchmarks, after beating them consistently in the 20 years prior to the decision to leave the EU, according to data compiled by Bloomberg.“If I give myself some credit, I would say that we acted reasonably fast liquidating U.K. shares” in 2016, said Ben Rogoff, whose Polar Capital Technology Trust PLC has been the most consistent winner out of the 212 British global funds with at least 1 billion pounds this year and during the past three years. His team's 114 percent total return (income plus appreciation) was 22 percentage points better than the Dow Jones World Technology Index, mostly because 68% of the fund is invested in the U.S., two-thirds of that in California companies, according to data compiled by Bloomberg. “It's all about the Internet and where do you get exposed to the Internet? The U.S. and China,” Rogoff said last month during an interview at Bloomberg in London.While Rogoff reduced his holdings of three California tech powers during the past year — Cupertino-based Apple Inc., Menlo Park-based Facebook and Santa Clara-based Advanced Micro Devices — he acquired more shares in Hong Kong-based Tencent Holdings Ltd, Hangzhou-based Alibaba Group Holding Ltd, South Korea's Samsung Electronics Co. and Tokyo-based Yahoo Japan Corp., according to data compiled by Bloomberg.The 46-year-old graduate of St. Catherine's College, Oxford, became the lead manager of the trust in 2006, “and at that time,” he said, “the U.K. weighting might have been 5% to 10%, so if you had already been backing away to the door, it's a lot easier to escape than if you built a career around being an expert in U.K. equities.” Since the Brexit referendum, he said, “There's just been a complete buyers' strike of U.K. equities.”Proof of such disdain comes with the crisis this year at the LF Woodford Equity Income Fund, Britain's most-prized investment when it was launched by star money manager Neil Woodford in 2014. The celebrated stock picker became even more prominent with his contrarian bullish stance on Brexit. The fund plummeted 31% during the past two years by holding a combination of large and small U.K. companies and has frozen redemptions indefinitely.“It's symptomatic of a broader problem,” Bank of England Governor Mark Carney told reporters earlier this month. “Our sense is that the financial-stability risks are increasing.”One U.K. investor who’s successfully resisted the trend away from domestic stocks is Nick Train, who manages Finsbury Growth & Income Trust. It returned 61% the past three years — more than twice the FTSE All-Share Index benchmark — as the most consistent one- and three-year performer among the 129 U.K.-based funds investing mostly in domestic stocks or bonds, according to data compiled by Bloomberg. Unlike Woodford, who doubled down on the British economy writ large, Train, a 60-year-old graduate of Queen’s College, Oxford, dramatically increased his holdings in consumer staples. These are the companies that make such essentials as food, beverages and household goods and can resist business cycles because their products always are in demand.Train, who declined to be interviewed, increased the consumer staples weighting relative to the benchmark to 27% from 23% in 2015 and he enhanced his holdings of Deerfield, Illinois-based Mondelez International Inc., which manufactures and markets packaged food products, and London-based Diageo PLC, the world's largest producer of spirits and beer, according to data compiled by Bloomberg.That's likely to be a safe bet as no one is counting on the British economy rebounding significantly from near the bottom of the EU while the uncertainty created by Brexit persists. “If you take a long view, then this may well be a great time to be investing in U.K. equity,” said Rogoff. “Thankfully, I don't have to make that binary call because there are very few U.K. companies I'm frankly interested in.”\--With assistance from Shin Pei, Richard Dunsford-White, Kateryna Hrynchak and Suzy Waite.To contact the author of this story: Matthew A. Winkler at firstname.lastname@example.orgTo contact the editor responsible for this story: Jonathan Landman at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Matthew A. Winkler is a Bloomberg Opinion columnist. He is the editor-in-chief emeritus of Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
China released its second-quarter GDP report today. The country’s GDP expanded 6.2% in the second quarter, marking its slowest growth since 1992.
Semtech's (SMTC) LoRa devices will be integrated into HWM's smart water meter solutions to improve operations and reduce management costs.
(Bloomberg Opinion) -- Anheuser-Busch InBev NV blamed market conditions for its decision to pull what would have been the world’s biggest initial public offering this year. Yet the brewer should take at least some responsibility. This concoction was far too frothy for investors when Asian economies face an array of sobering realities.AB InBev said it will no longer proceed with the IPO of its Asia-Pacific business, Budweiser Brewing Company APAC Ltd., which had been aiming to raise as much as $9.8 billion in Hong Kong. The company’s American depositary receipts fell as much as 4.9% in New York before closing down 3% on Friday.The offering valued Budweiser Brewing between 15.5 times and 18.2 times earnings before interest, tax, depreciation and amortization – well above the multiples for Carlsberg A/S and Heineken NV, and a premium to shares of the parent. The price range of HK$40 to HK$47 ($5.11 to $6.01) a share would have resulted in a market capitalization of $54.2 billion to $63.7 billion.You can hardly blame investors for wanting to sit this one out. The U.S.-China trade war is at an impasse and the ripples are widening. Singapore, a bellwether for global trade, on Friday posted its sharpest growth decline since 2012. While the Federal Reserve has signaled that interest rate cuts are coming, which has buoyed U.S. stocks, that's also driving a wedge between the world’s biggest economy and the rest.This split is perhaps nowhere more apparent than the IPO market. Listings in the U.S. are on track for their best year since 2014. Hong Kong, the top destination last year, is languishing by comparison, after a series of high-profile bloopers including smartphone maker Xiaomi Corp. in July 2018 and food-delivery giant Meituan Dianping in September. As I’ve argued, reclaiming that crown will be an uphill battle; and now Hong Kong is facing competition from Shanghai for tech IPOs. Alibaba Group Holding Ltd.’s secondary listing plan is a ray of light – but this latest kerfuffle could dim any optimism.Against this dismal backdrop, it’s little wonder things went south. Yet it’s a mistake to overlook AB InBev’s own missteps. For one thing, the company marketed itself as a purveyor of high-end beer, taking cues from Chinese consumers’ growing taste for foreign brands and craft labels. Perhaps its price range doesn’t look so out of whack when you consider the country's brewers trade anywhere between 15 times and 21 times, according to Bloomberg data. Yet investors just weren't convinced that demand would hold up in a slowing economy. The company’s China pitch also ignored mature markets like South Korea and Australia, which make up around half of Budweiser Brewing’s Ebitda, according to Bernstein Research. Then there’s the fact that growing a brand in Asia's fragmented market is easier said than done. India, where whiskey is the traditional tipple of choice, and Southeast Asia could have been fertile ground for expansion. One argument for an Asia IPO was that Budweiser Brewing would benefit from local tie-ups. Would the Thai tycoon who owns Vietnam’s top brewer, Sabeco Trading Corp., or the magnate that controls the Philippines’ San Miguel Corp. really cede control to the Belgian brewer for a piece of the Hong Kong listing? I’m unconvinced.The fatal flaw, however, may have been AB InBev’s hubris. In deciding against a cornerstone investor tranche, the company eschewed a fixture of Hong Kong’s IPO market. It turns out investors really do like the comfort of big names that pledge to hold stock – even if the practice ties up a lot of liquidity. Had Budweiser’s listing succeeded, it would have been a win for market reform, too. With such a bubbly valuation, AB InBev may have thought its investors were wearing beer goggles. Whether the brewer can make a dent in that $103 billion net debt from its purchase of SABMiller looks a lot less certain after a cold shower and pot of black coffee.To contact the author of this story: Nisha Gopalan at firstname.lastname@example.orgTo contact the editor responsible for this story: Rachel Rosenthal at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Nisha Gopalan is a Bloomberg Opinion columnist covering deals and banking. She previously worked for the Wall Street Journal and Dow Jones as an editor and a reporter.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Can the former payments monopoly in China regain lost ground against the payment systems of Alibaba and Tencent?
Today, China released its trade data for June. China’s dollar-denominated exports fell 1.3%, while its imports in US dollar terms fell 7.3% last month.
(Bloomberg) -- Tesla Inc. and Apple Inc. both suspect they were betrayed by driverless technology engineers who defected to the same Chinese startup.So, Tesla is now asking for Apple’s help in a lawsuit in which the electric carmaker accused an engineer who worked on its Autopilot program of taking thousands of highly confidential files when he went to work for XMotors.ai, the U.S. research arm of Guangzhou-based Xpeng.Along with typical information demands in the early fact-finding phase of the lawsuit that are spelled out in a court filing last week -- Tesla wants to see the engineer’s emails and have a forensic analysis conducted on his electronic devices -- the company founded by Elon Musk disclosed that it has also served the iPhone maker with a subpoena.The documents Tesla seeks from Apple aren’t specified in the filing, but the thinking may be that while the Silicon Valley titans are rivals in the ultra-hot self-driving space, they share a common enemy in Xpeng.Last July, prosecutors charged a hardware engineer in Apple’s autonomous vehicle-development team with downloading proprietary files as he prepared to leave the company and start work for the for Chinese company. The engineer has pleaded not guilty.Apple didn’t immediately respond to a request for comment.The former Tesla engineer, Guangzhi Cao, acknowledged in a court filing that he downloaded copies of Tesla’s Autopilot-related source code to his personal iCloud account, but denies any wrongdoing.Cao “has done precisely nothing with Tesla’s IP,” having “diligently and earnestly” tried to scrub all of Tesla’s source code from his personal devices and volunteered to provide the company with complete forensic copies of any devices it wished to inspect, his lawyers wrote.Xpeng -- which hasn’t been accused of wrongdoing by Apple or Tesla -- has said it plays by the rules and has denied having any part in the engineers’ alleged misconduct. The company has said that when it was notified in June 2018 that U.S. authorities were investigating the Apple engineer, his computer and office equipment were secured and he was denied access to his work and subsequently fired.Xpeng, which is backed by Alibaba Group Holding Ltd. and Foxconn Technology Group, is among the startups in China striving to reshape the auto industry as the world’s biggest market promotes new-energy vehicles in an effort to clean its air and cut its reliance on oil imports.The Verge reported on the court filing earlier.\--With assistance from Mark Gurman.To contact the reporter on this story: Peter Blumberg in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: David Glovin at email@example.com, Joe SchneiderFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Meicai, a Chinese startup that connects vegetable farmers with restaurants, is seeking at least $500 million in funding to try and grab a larger slice of a fragmented food sourcing market, people familiar with the matter said.The company is looking to achieve a valuation of between $10 billion and $12 billion, one of the people said. The figures are preliminary and subject to change based on market conditions, the people added, asking not to be identified as the details are private. Meicai said in a statement it doesn’t have specific fundraising targets at this moment.Meicai, which means “beautiful vegetable,” raised about $800 million in 2018 for a post-money valuation of $7 billion. It’s one of a crop of Chinese food and grocery delivery startups attracting capital from investors targeting a market that e-commerce hasn’t yet fully penetrated.Fresh produce-sourcing has become a heated battlefield between startups like Meicai and on-demand services leader Meituan, which is counting on the segment to drive growth and anchor a food and restaurant management business. Groceries firm Beijing Missfresh Ecommerce Co. is planning to raise between $300 million to $500 million at a valuation of at least $3 billion, Bloomberg News reported this week.Beijing-based Meicai counts Tiger Global Management, Hillhouse Capital, GGV Capital, Genesis Capital and China Media Capital among its backers. It’s also said to be part of an investment group considering a takeover of German food wholesaler Metro AG’s Chinese business.Founded in 2014 by rocket scientist Liu Chuanjun, Meicai has set a goal of sourcing produce for about 10 million small- to medium-sized restaurants across the country. Using a smartphone app, its customers can order specialties such as bok choy and Sichuan peppercorns directly from farms, disrupting traditional wholesaling by cutting out middlemen. As of the end of 2017, Meicai served close to a 100 cities and revenue had surpassed 10 billion yuan ($1.5 billion).Liu was born in a rural part of Shandong province, often helping his family maintain their corn field growing up. As one of the few people in his village to make it to university, he studied astrophysics at the Chinese Academy of Sciences and worked on rocket projects including China’s Shenzhou spacecraft, according to the company.His startup operates in a fertile field. Food delivery giants Meituan and Alibaba Group Holding Ltd.’s Ele.me are only scratching the surface because takeaway accounts for just 20% of what people eat in China, Harry Man, a partner with Matrix Partners China, told the RISE tech conference in Hong Kong on Tuesday. The remaining 80% is consumed at home, he said.“So who’s serving them, delivering fresh products to them -- vegetables, fruits, meat, seafood and everything -- is going to be a market multiple times bigger than takeout delivery,” he said. “Every single VC is looking at the market to see whether somebody can be able to knock it out and become the next mega unicorn in the market.”’(An earlier version of the story was corrected to remove references to Tencent as a backer)(Updates with Meicai’s statement in the second paragraph.)\--With assistance from Colum Murphy.To contact the reporter on this story: Lulu Yilun Chen in Hong Kong at firstname.lastname@example.orgTo contact the editors responsible for this story: Tom Giles at email@example.com, Colum Murphy, Edwin ChanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg Opinion) -- Before being detained by police in Shanghai, Lo Ching was lauded as the new-age Hua Mulan, the legendary female Chinese warrior. Now the downfall of Lo, chairman of a Hong Kong-listed conglomerate, has become a parable of the dangers of investing in China. Noah Holdings Ltd., one of China’s largest wealth managers catering to high-net-worth individuals, is among the first to find out. The U.S.-listed asset manager has filed a lawsuit against Camsing International Holding Ltd. related to a 3.4 billion yuan ($490 million) credit product in danger of default, according to a filing this week. The word default, itself, isn’t so scary. After all, evaluating the risk that an obligation won’t be paid is what credit investors do every day. Nor is Camsing’s credit product all that unusual: The underlying assets are account receivables the company expects from China’s top-tier retailers, JD.com Inc. and Suning.com Co.Formal financing channels – such as bank loans, corporate bonds or exchange-traded asset-backed securities – aren’t readily available to smaller private enterprises in China. So while the likes of Alibaba Group Holding Ltd. can regularly issue account receivables-backed securities, small businesses often use their working capital as collateral for loans from asset managers. In the case of Camsing, Lo pledged her 62% stake in the company to Noah. The worrying part about all this is whether any money can be clawed back. JD.com and Suning said they don’t owe Noah the 3.4 billion yuan: “Camsing falsified JD.com’s business contracts,” a JD.com spokeswoman told Bloomberg News. Camsing held 5.7 billion yuan in account receivables, 74.4% from Suning and 23.2% from JD.com at the end of 2018, Caixin reported, citing Camsing financial documents the financial news site said it had seen.As for those shares Lo pledged, they’re hardly worth anything now. Camsing’s stock crashed 80.4% on Monday after news of Lo’s detainment broke. That 62% stake is worth just HK$340 million ($43.5 million) now.Noah can file as many lawsuits as it wants; the truth is its path to recovery doesn’t look good. Data on these types of shadow-credit products are slim, but reviewing defaults of exchange-traded corporate bonds, China Inc. has a lousy track record. Among the 128 issuers that have defaulted on their bond obligations since 2014, only 28 have paid back investors in full. Of the total 216 billion yuan in missed bond payments, only 31 billion yuan, or 14.5%, has been repaid, according to HSBC Holdings Plc. Private enterprises are the worst offenders. Of the 17 state-owned enterprises that have defaulted, 41% have paid investors back, according to HSBC. By comparison, just 19% of the 111 private business that defaulted repaid creditors.As I argued last week, when it comes to private businesses, no one will come to rescue lenders and minority shareholders if things go sour. While cash-strapped local governments rarely pump their fiscal dollars into failing state enterprises these days, none of them wants to see a local champion fail. Somehow municipalities will wring money from bailout funds, strategic investors or even local banks to save struggling businesses. I’d love to laud the animal spirits of China’s private enterprises, but recent waves of corporate-governance scandals – from missing cash to potentially falsified business documents – are scaring investors. If you’re into stocks, by all means go with your heart. If you’re a credit investor, use your head instead.To contact the author of this story: Shuli Ren at firstname.lastname@example.orgTo contact the editor responsible for this story: Rachel Rosenthal at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Shuli Ren is a Bloomberg Opinion columnist covering Asian markets. She previously wrote on markets for Barron's, following a career as an investment banker, and is a CFA charterholder.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
(Bloomberg) -- China’s largest technology companies are gunning for YouTube’s biggest stars.The Qingteng Club, a group affiliated with social media and gaming giant Tencent Holdings Ltd., will host executives and celebrities from the Chinese and U.S. online video industries at a private event in California this week, according to attendees. The event, dubbed the East-West Forum, will take place at an Anaheim hotel down the street from VidCon, a convention for fans of online influencers.Tencent, owner of the all-purpose Chinese app WeChat, is trying to encourage more U.S. social-media stars to do business in the world’s No. 2 economy. The opening panel of the event is titled “How Tencent could help your influencers’ businesses in China.” They have an edge over YouTube in tapping the burgeoning market: The Google-owned video service is blocked in the country.The resurgent interest in American content coincides with a period of intense competition in the world’s largest online arena. The popularity of Douyin, China’s equivalent of TikTok, has shaken China’s technology industry, and companies like e-commerce giant Alibaba Group Holding Ltd., search leader Baidu Inc. and Tencent have been forced to defend their turf.Tencent, whose WeChat messaging service is used by a billion-plus people, has previously blocked links to Douyin. And IQiyi, a Netflix-style streaming service controlled by Baidu, is working on a competing app.“East-West Forum is an exclusive event that brings leaders in tech and entertainment industry together from east and west to meet, to learn more about each other and build potential collaborations,” according to a statement by the Mars Summit, an organization helping to host the event.Fan GatheringSome of the biggest names in Chinese social media are descending upon California this week as tensions with Washington run high over the Asian country’s technological ascendancy.Executives from TikTok, owned by Bytedance Ltd., Tencent and Baidu are all speaking on panels at this year’s VidCon, which started as an event for people who post videos on YouTube to meet with fans. Celebrities sign autographs and host panels, while executives give keynote speeches. The convention has since expanded to include online platforms such as Amazon.com Inc.’s Twitch, Facebook, Instagram and Twitter.The East-West Forum will also bring together executives from Tencent, the founders of Chinese startups RED and Bilibili Inc., and online influencers Jordi and Azzy. It’s also expected to attract U.S. media executives from Fine Brothers Entertainment, which operates some of the most popular channels on YouTube.“There is a very large, very senior delegation of Chinese executives at VidCon,” said Jasper Donat, a media executive and producer based in Hong Kong. “The fact that that’s happening is pretty big. It’s been hard to get a lot of China into America in recent years, and they are here in force.”To contact the reporter on this story: Lucas Shaw in Los Angeles at firstname.lastname@example.orgTo contact the editors responsible for this story: Nick Turner at email@example.com, Edwin ChanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- When Walmart Inc. paid $16 billion for control of India’s e-commerce pioneer Flipkart Online Services Pvt. last year, the American retail giant got a little-noticed digital payments subsidiary as part of the deal. Now the business is emerging as one of the country’s top startups, a surprise benefit for Walmart from its largest-ever acquisition.Flipkart’s board recently authorized the PhonePe Pvt Ltd. unit to become a new entity and explore raising $1 billion from outside investors at a valuation of as much as $10 billion, according to people familiar with the matter, asking not to be named because the discussions are private. The funding may close in the next couple of months, although the talks are not finalized and terms could still change, they said. The unit would then become independent with a distinct investor base, although Walmart-owned Flipkart would remain a shareholder. Walmart and Flipkart didn’t respond to emails seeking comment.PhonePe -- which means “on the phone” in Hindi and is pronounced “phone pay” -- has grown into one of India’s leading digital payments companies. Its volume and value of transactions have roughly quadrupled over the past year as the country’s consumers adopt the technology to transfer money digitally to businesses and each other. PhonePe is gaining ground on Paytm, which leads the field and is backed by Warren Buffett.PhonePe is an “underappreciated asset,” Edward Yruma, an analyst from KeyBanc Capital Markets, wrote in a recent research note. He estimated the business may be worth $14 billion to $15 billion, separate from Flipkart’s e-commerce operation.The startup was founded in December 2015 by three friends who left Flipkart to get it off the ground. Within a year, Flipkart founders Binny Bansal and Sachin Bansal decided to acquire PhonePe, realizing that solving payments friction would make it easier for consumers to buy online. Less than a year later, the Indian government made the unprecedented move to ban large banknotes to curb corruption and boost digital transactions. With this “demonetization,” Paytm, PhonePe and other fledgling services flourished.Cheap smartphones and cut-rate wireless data plans have brought millions of Indians online in the years since, boosting the whole industry. In June, the PhonePe app reached 290 million transactions with an aggregate value of $85 billion, compared with 71 million transactions at $22 billion a year earlier, according to the company.The service gained momentum by offering an array of services, including mutual funds, movie tickets and airline bookings. Earlier this year, it began using Bollywood star Aamir Khan in its advertising.“Globally, hardly any privately held fintech company has reached PhonePe’s scale on both sides of the network so rapidly,” Sameer Nigam, PhonePe’s co-founder and chief executive officer, said in a statement, pointing to its 150 million plus customers and more than 5 million merchants. “That’s why the strong investor interest.”Walmart debated for months whether to keep funding the payments business internally or whether to separate the operation so it could raise outside funds. After plowing nearly $300 million into PhonePe, the U.S. retailer opted for the latter course. Alibaba Group Holding Ltd. made a similar decision when it split off its Alipay business, helping growth by allowing it to work with a broader range of merchants.Walmart is still grappling with whether to bring in strategic or financial investors, according to one of the people familiar. While a strategic investor would likely be better for growth, senior Walmart executives are concerned that such backers typically want more voting rights, the person said. Walmart wants to use the lessons from PhonePe in other operations around the globe.Also unresolved are the future roles for Flipkart’s outside investors. Tiger Global Management and Tencent Holdings Ltd. each hold board seats and equity stakes of about 5%, while Walmart holds about 80%. The board will have to navigate the companies’ varied interests before any deal can be finalized.The new funding is aimed at helping PhonePe’s growth. The company plans to delve deep into the country’s heartland, where rivals have yet to expand, with the goal of reaching profitability, one person said.The market has vast potential. Digital payments in India are projected to reach $1 trillion by 2023 from about $200 billion now, said Credit Suisse Group AG. Beyond PhonePe and Paytm, Google Pay, Amazon Pay and the soon-to-launch WhatsApp payments service will compete for customers. They’re taking advantage of India’s Unified Payment Interface, a technology backbone that includes 140 of the country’s banks and digital payments companies.“The market is getting bigger and fintech startups are becoming innovative,” said Kunal Pande, partner, advisory services at KPMG. “The accelerated growth in many fintech areas is attracting investor interest.”To contact the reporter on this story: Saritha Rai in Bangalore at firstname.lastname@example.orgTo contact the editors responsible for this story: Peter Elstrom at email@example.com, Colum MurphyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
While a lot of investors have been hesitant towards betting on Chinese stocks because of the mixed bag of emotions the trade war has brought,