简体   |    English
Home  |  Chairman Statement |  About Us  |  Key Staff  |  Business Model  |  News  |  Review  |  Culture | Contact Us
News

Title: Bloomberg: Vision Finance’s Zhang Sees Hang Seng China Index at 13,000
Date: 2009/06/09
Media: Bloomberg
People in the news: Clive Zhang

Content:

Vision Finance’s Zhang Sees Hang Seng China Index at 13,000
2009-06-09 01:47:29.569 GMT

By Bloomberg News
--Chua Kong Ho. Editor: Richard Frost
    
June 9 (Bloomberg) -- Clive Zhang, Hong Kong-based executive director of Vision Finance Asset Management Ltd., which oversees about $30 million, comments on China’s economy and the prospects for the country’s Hong Kong-listed stocks.
    
The company’s Vision Finance China Ocean Fund had a return of 55.5 percent this year up to April 30, compared with a 15 percent gain for the Hang Seng China Enterprises Index. Comba Telecom Systems Holdings Ltd., the fund’s largest holding, has rallied 194 percent this year.
 
On the Chinese economy:
    
“I’m quite bullish for the Chinese economy, especially for the second half. Many of the Chinese economic indicators are doing well. The rate of decline is slowing in exports and electricity consumption, indicating a bottom may be seen in the second half. The economy is likely to hit the government’s 8 percent GDP target. Even at 6 percent to 7 percent growth, relative to other countries, it’s still a very high figure.”
 
On prospects for Hong Kong-listed China stocks:
    
“Expectations for earnings rebound have only been partly factored in the share prices. I have a target of 13,000 for the H-share index. It’s very likely that earnings growth will bottom in the second half and accelerate to 20 percent next year. We’re likely to see upwards revisions for earnings forecasts in the second half.”
 
On China’s technology demand:
    
“There’s a big demand for IT products, such as servers and point-of-sales machines. I don’t think the demand will be affected by the slowdown. China’s 3G telecom rollout is creating a big demand for 3G equipment.”
 
Vision Finance Group Limited 2007 Copyright Reserved
Powered by OMP(TM)