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CLCT: Staying defensive and Chinese banks?

Sunday, October 23, 2022

I produced a video recently for my YouTube channel which shared my response to a reader's question on investing in Capitaland China Trust.

In case readers who do not follow my YouTube channel are interested, here is the video:





That video has unexpectedly led to an interesting exchange with another reader and for the benefit of readers who are not subscribed to my YouTube channel, I am sharing it here:

Reader says:

Hihi AK, so your stance on CLCT has never changed ya?

AK says:

I still think CLCT will do well once things normalize. 

How long is that going to take? 

Xi is being pretty stubborn. 

I don't think China will move away from the zero COVID policy anytime soon. 

So, not in a hurry to add. 

Will wait and see.




Reader says:

thanks for ur reply. i cashed out my SSB to divert to CLCT. but now i still hesitating when to enter CLCT. below 0.80 ah? hahaha..

AK says:

China is getting very hard to read. 

On the REIT level, I suspect that the RMB is going to stay weak and it could impact gearing level and DPU and it is not the only thing that is giving me pause. 

It would be interesting to see if CLCT has to give rental support to tenants or not too. 

Greater clarity needed. 

I will (try to) stay defensive and continue to divert funds whenever available to bank stocks, SSB and T-bills.




Reader says:

sg bank stocks exp leh…. China Bank stocks on HKSE ok? 🤭

AK says:

Eh. I don't invest outside of the Singapore Stock Exchange. 

So, I am not a good person to answer that question. 

Singapore banks will benefit from rising interest rates. 

I don't think the Chinese banks have the same tailwind. 

Also, if I were to invest in Chinese banks, I would ask how exposed are they to the likes of Evergrande? 

I feel that to invest in the Chinese banks is really to invest in the Chinese government. 

Why would they be trading at such low PE ratios otherwise? ;p




Readers who are interested in my YouTube channel, here is the link: 





2 comments:

art&art said...

Hi Ak
I have been following your blog for a while and appreciate your sharings. Would you talk to yourself on AAreits at current price.
Thank you.

AK71 said...

Hi A&A,

I don't have anything to say about price movements because there is no accounting for Mr. Market's mood swings. ;p

You might be interested in this YouTube video of mine:
Staying invested in AA REIT?


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