Fidelity increases its holdings in Chinese stocks, betting on the return of "animal spirits" and the AI boom
Fidelity portfolio manager Taosha Wang stated that Fidelity International has increased its holdings in Chinese stocks and given them an overweight rating. In addition to economic fundamentals and "animal spirits," exciting new artificial intelligence tools like DeepSeek will also bring opportunities
After DeepSeek overturned the US stock market, foreign capital is more optimistic about the Chinese stock market.
Recently, Taosha Wang, a portfolio manager at Fidelity, stated in an interview with Bloomberg Television that Fidelity International has increased its holdings in Chinese stocks and given them an overweight rating, as the "animal spirit" in the Chinese market is returning.
According to reports, Taosha Wang mentioned that in addition to economic fundamentals and the "animal spirit," exciting new artificial intelligence tools will also bring opportunities. Taosha Wang referred to DeepSeek.
Taosha Wang believes that although "the road will not be smooth," the Chinese market may rebound:
"This is an exciting market with many high-quality companies, but it is also a very cyclical market."
In addition to Fidelity International, billionaire investor David Tepper's hedge fund Appaloosa LP has also fully increased its holdings in Chinese concept stocks and Chinese stock funds in the fourth quarter of 2024.
Tepper believes that stocks in the Chinese market are much cheaper than those in the US market. Analysts pointed out that this latest increase highlights confidence in the Chinese stock market and economy.
According to the latest Prime Services data from Goldman Sachs, there was moderate net buying of Chinese stocks (including onshore and offshore) in January, indicating a rebound in risk appetite