China’s stock investors are making a $305 million bet on the nation’s military complex.
That’s the total that Guotai Asset Management Co., GF Fund Management Co. and Fortune SG Fund Management Co. raised since July from selling the nation’s first exchange-traded funds following defense shares. The funds track the CSI National Defense Industry Index, which was up 18 percent from its May low as of Monday, outpacing the Shanghai Composite Index’s 9.4 percent rebound.
The ETF creators are seeking to capitalize on escalating geopolitical tensions, with an international tribunal ruling in July that China’s efforts to assert control over the South China Sea exceeded the law and South Korea agreeing to allow the U.S. to deploy an anti-ballistic missile system on the peninsula. China is expected to upgrade its military equipment and let more weapon-making units access the capital market, according to GF Fund Management.
中国广东暴雨持续 深圳发暴雨“红色警报”
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中国南部人口密度高、经济发达的珠江三角洲地区因连日持续的创纪录降雨,使当地一些城市遭受洪灾。 路透社报道说,自 […]...
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