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Reuters
9 hours ago
- Business
- Reuters
Franklin Templeton buying China stocks for first time in years
LONDON, June 25 (Reuters) - Multi-billion dollar fund manager Franklin Templeton (BEN.N), opens new tab has started edging back into Chinese stocks for the first time in years, betting that trade tensions with the U.S. have now peaked and that Beijing is fully behind its top tech firms again. Zehrid Osmani, Head of the firm's Global Long-Term Unconstrained team, told Reuters that a group of its funds managing around $2 billion had only started their buying in the last few weeks having had no exposure at all over the last 2-3 years. "We've tip-toed (in)," Osmani said in an interview. "We reduced our underweight which has been sizable in some of our mandates, and in some of our global mandates we've neutralized the China exposure." Hong Kong-listed Chinese tech stocks (.HSTECH), opens new tab are up nearly 20% this year, more than treble what the U.S. Nasdaq (.NDX), opens new tab has made and flow data has shown global investors significantly increasing their buying. Osmani said it had returned largely because after years of spluttering growth, property market and geo-political troubles, and a "Common Prosperity" mantra which crimped top tech firms, China's markets look cheap. President Xi Jinping signalled an end to the tech clampdown by gathering the "captains of industry" earlier this year in a show of Beijing's support, while a willingness by both China and the U.S. to meet at the trade negotiating table was also encouraging, Osmani said. "We're also conscious that China, in terms of policy initiatives, has probably more levers to pull than many other countries in terms of fiscal and monetary policy." "We don't think they've gone aggressive in any of those, and we would like them to be more aggressive on both fronts to really support the economy, but they do have those levers that they can pull."
Yahoo
17-05-2025
- Business
- Yahoo
Australian's Richest Woman Just Moved Billions Into U.S. Stocks -- And One Bet Stands Out
Australia's richest woman just placed a bold bet on the U.S. market. Mining magnate Gina Rinehart nearly doubled her U.S. holdings to $2.5 billion in the first quarter, according to a May 15 disclosure. Most of the fresh capital went into plain-vanilla index trackers covering the Nasdaq (NASDAQ:QQQ) 100, S&P 500 (SPY), and Dow Jones (DIA). The timing? Just weeks before the U.S. rolled out sweeping new tariffs that briefly spooked global markets. Rinehart, a vocal Trump supporter, may be positioning for a potential policy shift or a full-on Trump resurgence. Alongside broad-market ETFs, Rinehart scooped up shares in Etsy (NASDAQ:ETSY) and PayPal (NASDAQ:PYPL), signaling selective interest in beaten-down tech. On the flip side, she exited her stakes in energy giants like Chevron (NYSE:CVX) and Exxon Mobil (NYSE:XOM) a combined $109 million position at year-end 2024 that's now gone. That shift could point to a more risk-on view or a belief that oil's rally has peaked, especially with interest around tech growth cycles beginning to reawaken. Notably, one position didn't budge: Trump Media & Technology Group (NASDAQ:DJT). Rinehart still owns 150,000 shares in the Truth Social parent. While the media stock has had a turbulent ride, her conviction seems intact. With U.S. election season heating up and tariffs back in the headlines, Rinehart's latest moves suggest she's not just betting on the market she's betting on a narrative. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
