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 提上来：看来只能用激将法了， 还是我的问题封顶了？问所有金融鬼才，How to hedge the housing market in China? (Does anyone have an answ |
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提上来：看来只能用激将法了， 还是我的问题封顶了？问所有金融鬼才，How to hedge the housing market in China? (Does anyone have an answ -- king - (668 Byte) 2005-3-16 周三, 11:58 (1972 reads) |
海上君来2008
[博客]
[个人文集]
游客
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作者：游客 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
If you believe in the following assumptions:
1. The RMB investment market is capital driven market. Soaring price is a reflection of consensus capital inflow, not necessarily fundamentals.
2. The RMB investment market is a close-end market and both investment opportunities and instruments are very limited.
Hedging strategy:
To hedge the possible property price decline, buy government bonds or invest in A-shares because capital exiting from property market will flow into either equity or bond market, and pushing up the price in general. A-share market is still at around 6-year low and bond market was equally hard hit last year.
Bonds: Some 4-5 year government bonds are now sold at 4-5% yield, which are conservatively attractive.
A-shares: Investment in individual stocks not recommended for hedging purpose. For outsiders with RMB, buy ETF or index fund. For outsiders with forex, buy A50 China Tracker Fund in HK.
Note: of course it can’t be a perfect hedge, but good for diversification purpose.
作者：游客 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
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