China may be poised for a decade-long bull run: Hedge fund

对冲基金：中国可能即将迎来长达十年的牛市

Wong Kok Hoi of APS Asset Management, a China-focused Singapore hedge fund, believes investor sentiment in China is at its most bearish in two decades, and the 'conditions are in place' for a multi-year rally.

新加坡对冲基金APS资产管理公司的王国辉认为，中国的投资者情绪正处于20年来最悲观的时期，多年反弹的“条件已经具备”。

以下是外国网友的评论：

Peter-ox8lj

So confused

Collapsed -> almost collapsed -> far from collapsing -> bull run -> super bull run

all in several months

困惑了

崩溃->几乎崩溃->远未崩溃->牛市->超级牛市

这几个月内接连传来各种消息

maggiechan33

Just ignore the "collapse people".

无视那些“崩溃”的人即可

shadowdragon6639

Economics is meaningless. They have a lot of data, some are good, some are bad. If you choose to report the good data, you will get a good result. If you choose to report the bad data, you will get a bad result

经济学毫无意义。他们有很多数据，有些是好的，有些是坏的。如果你选择报告好的数据，你就会得到一个好消息。如果你选择报告错误的数据，你会得到一个坏消息

whitemoon5752
Waiting for it. I lost 30% of my wealth built in the last 12 years in China just in the last one year.

耐心等待。仅仅在过去的一年里，我就损失了过去12年在中国积累财富的30%。

rune54321

I lost 75% of my wealth the past 4 years in Chinese stocks. Absolutely disgusting price action. Just keeps going down

在过去的4年里，我在中国股市损失了75%的财富。太恶心了。一直跌

sellingadvil9844

@rune54321 damn that is so rough. what were the points that atttracted you into going all in on China ?

太可怜了。你为什么要全部投资中国？

vladimirkravchenko1642

Hang Seng index increased 16% since the begng of 2024, or 18.47% for the past year.

恒生指数自2024年初以来上涨了16%，去年上涨了18.47%。

stocktradinglive510

He should know Nikkei was stagnant for years.....

他应该知道日经指数多年来停滞不前。

francisltx

isn't this guy few months ago said Chinese stocks were overvalued?

这个人几个月前不是说中国股市被高估了吗？

ctrl-shift-run8681

Valuations are cheap but no one is excited. Investors have lost confidence after the ali crackdown and it will take a while before they get it back, if ever. Which is a shame, because if China used a different approach, all the tech and innovation out of there wouldn't be discounted so much.

股价估值很低，没有人感到兴奋。在一轮针对科技巨头的打击行动之后，投资者失去了信心，需要一段时间才能恢复信心。这是一种耻辱。如果中国采用不同的方法，科技创新就不会被低估。

heneliezer1421

The west are also cracking down on big tech so whats the difference?

西方也在打击大型科技公司，有什么区别呢？

lastautumn232

China stocks have always been volatile.

中国股市一直波动较大。

alinthemind

As China takes the lead in renewables and EVs, establishing itself as the backbone of the next global Industrial Revolution, its economy and stock market stand to reap significant benefits.

随着在可再生能源和电动汽车领域处于领先地位，中国成为下一次全球工业革命的支柱，中国经济和股市会迎来春天，投资者会赚得盆满钵满的。

trekpac2

I agree with this fellow’s sentiment. China is now very competitive or leading in most of the key areas, and dominates supply chains and many materials. It has set itself up to strongly succeed in its relationships with countries in the Global Majority.

China will dominate in the next level of the Industrial Revolution involving advanced technologies (5G+, 6G, robotization, green technologies and energy, etc. At the same time it can garner a lot of its growth through harnessing its own domestic consumers plus consumes in closely affiliated countries).

All the while, the US and the EU will further give up more control.

I’d strongly bet on China at this point. But there are unknowns. If the US$ corrects 40% against the yuan (I.e., has a major collapse), how will that affect China?

我同意这个人的看法。目前中国的大多数关键领域都非常有竞争力，或处于领先地位，并主导着供应链和许多原材料。中国已经与全球多数国家建立了友好关系，并取得了巨大的成功。

中国会在涉及先进技术（5G+、6G、机器人化、绿色技术和能源等）的下一阶段工业革命中占据主导地位。与此同时，它可以拉动国内消费者，向友好关系出口，大幅提振经济增长。

与此同时，美国和欧盟会不得不进一步放弃更多的控制权。

在这一点上，我非常看好中国。但也存在未知因素。如果美元兑人民币汇率下跌40%（即大幅下跌），中国会受到何影响？

DLL-y4p

You are completely wrong. China has lost at least 30% of its supply chain capabilities to other SEA countries in the past 3 years.

你完全错了。在过去3年里，中国至少30%的供应链，被东南亚国家夺走。

louistee6201

Maybe he has big clients from China

People just speak for themselves

也许他有中国的大客户，为自己说话

sansongching8836

Does he think that China is a market economy? Does he think that companies and shareholders have rights to decide how to run a company in China? Funny.

他认为中国是市场经济吗？他是否认为公司和股东有权决定如何在中国经营公司？有趣。

sistermarmot

He knows nothing about china.

他一点都不了解中国

youssefelyakoubi8201
So what if it collapse. Surly it will recover its self like all economies do eventually. Stop waiting for collapse to happen because it does not mean that a country is Done for it. The hole country won't disappear like you hope your problems do

那么，如果它崩溃了呢。毫无疑问，中国经济最终会像其他经济体一样恢复元气。不要等待崩溃的发生，这并不意味着一个国家就此结束。这个国家不会像你希望的那样消失的

gstlb

I always laugh at these analysts who treat the Chinese stock market like it’s a normal market that obeys normal market rules

我一直嘲笑这些分析师，他们把中国股市当作一个遵守正常市场规则的市场

DLL-y4p

Complete nonsense

完全是胡说八道

directxxxx71

A couple of trillion RMB stimulus packages are coming in China

中国即将出台数万亿元人民币的刺激计划

aaap3875

Forget China lost 70% investing in Alibaba, NIO, Im all in for Nvidia, Microsoft, Palantir, Google

忘了中国吧，我投资阿里巴巴、蔚来汽车，损失了70%，现在全部投资英伟达、微软、Palantir、谷歌了

MountMatze

you are on the way to loose another 70%

看来你又要损失70%的财富了

windsong3wong828

Don’t look backwards.
Look forward.
The mag 7 is done and it’s valuation are RIDICULOUS.
Remember the tech crash in 2021/2.
All things that go up will come down and vice versa.
Those who bought Chinese big tech in 2014/5 had lost big.
China would not allow oligopolies.

不要回头看。往前看

美股“七姐妹”已经完了，估值高得荒谬

记住2021/2022年的科技崩溃。

有涨必有跌，反之亦然

那些在2014/5年度收购中国大型科技公司的人损失惨重。

中国不会允许垄断寡头的出现的。

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