Investors in China are betting on a bumpy ride until the end of the U.S. presidential election and seeking to protect their assets from a long chill in Sino-U.S. ties.
FILE PHOTO: Investors sit in front of a board showing stock information at a brokerage house on the first day of trade in China since the Lunar New Year, in Hangzhou, Zhejiang province, China February 3, 2020. China Daily via REUTERS
And currency investors are fretting that a yuan hovering near 16-month highs is priced for a Biden win, and a calmer tone in diplomacy, which could swiftly unwind if Trump is victorious. “It doesn’t matter if Biden or Trump will be elected. The bipartisan consensus is to be tough on China,” said Chen Jiabeng, fund manager of Xiamen Portfolio Management Co, which helps investors allocate assets through funds of funds.Chen is allocating some 30%-40% of his portfolio to funds with options and futures trading strategies that can profit from wild swings in underlying assets.
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