shinobi346 said:Any blatant dodginess by the Chinese government won't just affect this fund but many other Australian companies as well since we are so closely tied with China in trade, so I'm not too worried in that regard with this particular fund.
AMP.. hopefully they've put new measures in place to prevent a repeat of those things.
I haven't heard any of the 51 other QFII licence holders having any troubles since the inception of the licence 5 years ago.
I took some profit today. Might buy in again at the <1.20 level.
scsl - I couldn't get that times article to show up.
PhoenixXx said:Oh shoot...should've sold it when it was $1.40 back then...
I dunno if it could bounce back pretty soon
http://www.theage.com.au/news/busin...trips-off-alarm/2007/01/22/1169330830109.html'Overpriced' China trips off alarm
Chen Shiyin and Zhang Shidong
January 23, 2007
CHINA'S sharemarket has become the most expensive in Asia, leading strategists at Citigroup, HSBC and UBS to warn investors to stay away.
Shares traded on mainland Chinese exchanges cost twice as much relative to earnings as they did 18 months ago, and double the average for emerging markets, after extending last year's 121 per cent rally in the Shanghai and Shenzhen 300 Index.
The surge sent their value above $US1 trillion ($A1.3 trillion) for the first time and prompted the Government to caution shareholders that "blind optimism" is driving gains.
China Life Insurance Co, the largest insurer, has more than doubled since trading began in Shanghai on January 9. The debut followed a stock sale in which investors ordered 49 times the available shares.
Industrial & Commercial Bank of China, the No. 1 bank, has gained 70 per cent since selling shares in October in the biggest-ever initial public offering. Demand for ICBC shares from individuals in China was five times that of institutional investors, according to bankers managing the sale.
"It's a warning sign every time you see retail investors in long queues for initial offers," said Lau Wing Tat, chief executive of DBS Asset Management in Singapore. "Retail investors don't set the trend and instead pile in when they think there's money to be made, often near the end of the rally."
International investors are starting to gain more access to the market in China. DBS Group Holdings, South-East Asia's largest bank, is among 55 foreign companies that have government approval to invest a total of $US9.55 billion in yuan-denominated securities, including so-called A shares. Others with approval to invest include Goldman Sachs, Morgan Stanley and Yale University.
The Shanghai and Shenzhen 300, tracking A shares on the mainland's two exchanges, jumped 10 per cent last week for its biggest weekly gain in eight months. The index has climbed 17 per cent this year, and ended last week at 2396.09.
BLOOMBERG
PhoenixXx said:Ann just released today.
Result couldn't be any better.
Net asset value is now $1.10/unit.
angela200172 said:Well done AGF, only 1 Month time, 10% up of the unit, I hold 114000 at $1.12, I believe AGF will up to $2.00 in 12 months, as China share market very strong.
Pat said:Angela,
Why will this go to $2 in 12 months?
Pat.
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