16th Feb 2024 20:45
abrdn China Investment Co Ltd - invests predominantly in Chinese equities - Net asset value per share falls 2.3% to 499.97 pence in the year to October 31, from 511.98p a year earlier. Net assets fall 8.0% to GBP213.2 million from GBP231.8 million. Decides against dividend, despite paying out a dividend of 3.20p a year ago.
"The company's portfolio retains a significant exposure to stocks which are heavily influenced by Chinese consumers and, although the quick economic rebound some had expected has yet to emerge and recovery has been slower than anticipated, it is surely a matter of when, not if this gathers momentum. While negative headlines may have discouraged many foreign investors in recent months, there are still reasons for optimism for those investors looking for long-term capital growth in China," it says.
Current stock price: 401.00 pence
12-month change: down 34%
By Sophie Rose, Alliance News senior reporter
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