China’s number of new investors grew in April at slowest pace in 13 mths

Beijing, China

The number of China’s new investors grew in April at its slowest pace in 13 months, hit by a lack of upside momentum for the stock market and persistent worries over policy tightening.

The number of new investors for the A-share market increased by 1.7 million in April, or 3.1% year-on-year, its slowest since March 2020, data from the China Securities Depository and Clearing Corporation Limited (CSDC) showed.

Total investors stood at 185.6 million by April, up 12.5% on the year, it added.

The benchmark CSI300 index closed up 2.4% on Friday, but was 14% off an all-time high hit on Feb. 18, as worries over lofty valuations, policy tightening and Sino-U.S. tension weighed on sentiment.

The index has been trading in narrow ranges since early March, when it tumbled as much as 17% from its record high, dampening investor appetite for equities.

Analysts and traders said the stock market would probably remain rangebound, given inflation worries and the central bank’s tightening bias, thanks to a solid economic recovery from the coronavirus outbreak.

The central bank tightening will not be very strong in the short term, although inflation expectations will still dampen market sentiment to some extent, Vanho Securities analysts said in a note.

Chinese money and lending data on Wednesday showed bank lending and broader credit slowed more than expected in April as the central bank gradually scales back pandemic-drive stimulus.

Reuters

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.