15th Dec 2022 12:17
abrdn China Investment Co Ltd - invests predominantly in Chinese equities - Draws down CNH40.0 million, around GBP4.7 million, of its unsecured multicurrency revolving loan facility.
Lead Portfolio Manager Nicholas Yeo said: "We have recently been observing recovering sentiment in Chinese equity markets, driven by the accelerated pace of re-opening and increasing liquidity support to the struggling property sector as the government acts to address these key issues. Valuations remain low, liquidity within the system remains abundant, key risk factors are understood and acknowledged by the government, whilst external geopolitical tension seems to be gradually easing."
Current stock price: 538.00 pence, down 1.5% on Thursday afternoon in London
12-month change: down 27%
By Sophie Rose, Alliance News reporter
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