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Jpmorgan China Growth & Income Plc

11.50 (4.47%)
Share Name Share Symbol Market Type Share ISIN Share Description
Jpmorgan China Growth & Income Plc LSE:JCGI London Ordinary Share GB0003435012 ORD 25P
  Price Change % Change Share Price Shares Traded Last Trade
  11.50 4.47% 269.00 155,231 16:35:29
Bid Price Offer Price High Price Low Price Open Price
267.00 268.50 268.50 263.50 263.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Investment Trusts Div'd -164.82 -170.14 -204.50 - 223.81
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:29 UT 15 269.00 GBX

Jpmorgan China Growth & ... (JCGI) Latest News (1)

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Date Time Title Posts
01/6/202320:44JPMorgan China Growth & Income Investment Trust191

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Posted at 01/6/2023 12:18 by loganair
Archy - Nope, as I can easily see the share price going sub 200p or lower as I explained in my previous post.
Posted at 28/5/2023 08:44 by loganair
1/4 of German exports go to China and therefore Germany would not be in recession if China was not also struggling.

There's been no real Chinese re-opening therefore China's economy was not being held back by pandemic policies. The re-opening story was just a media creation - copper hasn't rebounded.

Private sector is not investing much in China at the moment as the housing sector is the weakness as this is where the Chinese have so much of their savings.

Therefore it seems to me reasonable to say JCGI share price is highly likely to continue to fall, falling below 200p or even maybe as low as 150p. For me the lower the share price goes the more delighted I'll be as it will allow me to pick up a load of cheap shares in JCGI Chinese stocks.

Posted at 12/5/2023 07:24 by loganair
Traders may also be anticipating some sort of policy easing from Chinese authorities after another shocker of an economic indicator on Thursday - not only did CPI inflation undershoot forecasts, it virtually evaporated all together.

While most central banks are still fighting to bring inflation down, the world's second largest economy is battling against disinflationary forces - annual producer price inflation in April sank to -3.6%, the weakest in three years.

This follows the collapse of imports in April reported earlier this week, raising serious doubts about the strength of domestic demand and growth momentum across the wider economy.

Chinese stocks on Thursday lost ground for the third day in a row and are on course for their third straight weekly loss.

Posted at 14/12/2022 08:09 by nerja

In line with the Company's dividend policy, for the year ended 30th September 2022, four quarterly dividends of 5.70 pence were paid to shareholders. For the year to 30th September 2023, in the absence of unforeseen circumstances, a quarterly dividend of 3.42 pence per share will be paid. This represents an annual dividend of 4% of the Company's NAV as at 30th September 2022.

This report came out a bit sneaky last night

Posted at 25/10/2022 11:22 by loganair
I stand corrected, however even though trading at a 18% discount to NAV, JCGI NAV continues to fall.

I still firmly believe the share price may fall a further 100p from here.

Posted at 25/10/2022 11:17 by tonytyke2
It's not 4% of the share price, it's 4% of the NAV in the proceeding year.
Posted at 25/10/2022 11:10 by loganair
I'm being patient and holding the line, waiting for the storm to come in at which time I firmly believe will be able to buy in at well under 200p.

The Dividend JCGI pays is 4% of the share price and therefore as the share price continues to fall, so does the dividend it pays.

Posted at 17/9/2022 10:47 by loganair
Is the Chinese economy about to turn a corner? - by Graham Smith:

MUCH of the world remains focused on the cost-of-living crisis and rising interest rates. China stands out as something different, as its economy is out of step with the West in some important ways that may add to its appeal as a diversification opportunity. Undoubtedly, China has its own set of challenges, but there are growing signs the foundations are now being laid for improving economic conditions as we enter the latter stages of this year. Is now the time to look at China?

A stable start to the month is just what investors in China needed and, so far, so good. The year to date has been something of a rollercoaster for investors in China, as Covid lockdowns, supply chain issues and tougher lending conditions in the property sector have weighed on economic growth.

The government’s official aim is to see China’s economy grow by 5.5% this year, significantly below the 8% achieved in 2021. However, there are doubts now that this level of growth can be achieved, with some analysts pencilling in growth of between 3% and 4%. In the three months to June, the economy grew by just 0.4%, as activity slumped in the face of strict Covid restrictions.

While domestic spending is the prime driver of China’s economy these days, the slowdown we are now seeing comes at a time when world demand is also coming under pressure.

A still rising share of a potentially shrinking (albeit very large) market may well be the reality that lies ahead. China’s latest trade data is consistent with this outlook, with exports rising at an annual rate of 14% in August in local currency terms, but falling 5.3% on the month on the same basis.

The technology sector has also been a source of concern, after the implementation of new regulations governing how companies are allowed to operate. Such interventions appear to have been on the wane lately, suggesting the focus is now turning elsewhere.

For evidence of that, we need look no further than the two cuts to a key lending rate we saw in China in August, apparently aimed at bolstering support for property developers and homeowners.

This week we saw China’s major lenders reduce their deposit rates across the board, a move that should allow them to lower lending rates and extend their loans to businesses.

While we have yet to see an economic stimulus package of any great scale, the focus has undoubtedly been moving in that direction. The latest signs of that came a week ago from Chinese officials indicating they aim to increase the stimulus being applied to the economy this quarter.

Previously, in August, the government announced various measures mainly focused on increasing investment into infrastructure in order to boost economic activity and growth.

So that raises an important point for global investors. While much of the world wrestles with conditions of slowing economic growth coupled with rising interest rates and sky-high inflation, could China be about to move in a completely different direction?

It certainly has the capacity to. China’s annual inflation rate was 2.5% in August, down slightly from 2.7% the month before. Excluding food and energy, inflation was just 0.8%, the same as in July.

These latest readings are a far cry from the rates we are now seeing in Europe and North America.

In stark contrast to the West, interest rates have been edging lower in China and there could be other moves in the same direction, including a further reduction in the amount banks have to keep in reserve.

The bottom line is that the divergence in central bank and government policies we have seen already between China and much of the rest of the world looks set to continue as we move through the remainder of this year. That ought to be good for China’s economy and stock market.

But what about corporate earnings? In the West, we’ve seen the rate at which companies are growing their profits decrease this year. In the US, corporate earnings are expected to rise by only a fraction of the amount they grew last year.

With a tailwind of looser fiscal and monetary policies, the earnings outlook for Chinese companies would likely improve. While the jury’s still out on that, looser monetary and fiscal conditions should help and at a time when supply chains are also returning closer to normal.

As it stands China’s stock market looks inexpensive compared with history and when you compare it to world markets.

At the end of last month, the MSCI China Index was trading at just 11 times the earnings companies are expected to achieve in the year ahead, compared with 15 times for world markets and 17 times for the MSCI North America Index.

That suggests a fair bit of the bad news is already factored into prices, leaving room for a rebound should China successfully apply its stimulus and accelerate growth.

Moreover, the fundamentals for investing in China in the first place are all still there, in particular, a growing middle class driving a structural shift towards a more consumption driven economy.

China is also adapting fast to the technologies of tomorrow. For example, having traditionally relied on offshoots of western manufacturers to supply its domestic market, the country has grabbed the opportunity of the transition to electric vehicles (EVs) with both hands.

With control of large parts of the supply chains for EVs, it has become a new global world leader. According to the International Council on Clean Transportation, EVs and hybrids accounted for nearly a quarter of all domestic new car registrations in the first half of this year7.

Another area where great strides have been taken is in renewable technologies, particularly in the areas of wind and solar energy. China is already the world’s largest producer of solar energy and it currently dominates key parts of the solar supply chain too.

From a capital markets perspective, China still lags in the sense many of its industries are fragmented. That leaves plenty of scope for companies to merge or conduct other forms of deals to improve their efficiency and profitability.

There undoubtedly remain hurdles to the government forging a successful path. However, that’s the same as in any country in which you care to invest. The long term opportunities offered by China are still in place and they’re accessible at lower prices than they’ve been for some time.

Posted at 28/6/2022 09:36 by loganair
Often when any good investment significantly falls, the big boys say is un-investible as they want to make sure they are the only ones investing on the ground floor and the private retail investor comes back in once the share price has risen.
Posted at 15/3/2022 08:44 by loganair
Chinese stocks listed in Hong Kong had their worst day since the global financial crisis, as concerns over Beijing's close relationship with Russia and renewed regulatory risks sparked panic selling.

Tencent Holdings is reportedly facing a possible record fine for violations of anti money-laundering rules, which pushed the stock down nearly 10% on Monday. There's also a risk of Chinese firms delisting from the U.S., as the Securities and Exchange Commission identified some names as part of a crackdown on foreign firms that refuse to open their books to U.S. regulators.

"If the U.S. decides to impose sanctions on China in total or on individual Chinese companies doing business with Russia, that would be a concern," said Mark Mobius, who set up Mobius Capital Partners after more than three decades at Franklin Templeton Investments. "The whole story is still up in the air in this case."

On Friday, the Golden Dragon Index, which tracks American depository receipts of Chinese firms, slumped 10% for a second consecutive day -- something that's never happened before in its 22-year history. It slumped 18% last week, its steepest decline since at least 2001. China's benchmark CSI 300 Index closed 3.1% lower on Monday. The onshore yuan also fell to its weakest in a month as sentiment toward Chinese assets turned sour.

"We don't see a major catalyst in the near term," to help China stocks, though earnings results may create some share price volatility, said Marvin Chen, a strategist at Bloomberg Intelligence. "For a material re-rating of China tech, we may need to see a shift in regulatory tone, and we didn't get that from the recently concluded NPC meeting."

Even amid the rout, mainland traders have continued to snap up Hong Kong stocks, though that's proving insufficient to buttress share prices. They have been net buying Hong Kong equities via the stock connect in every session since Feb. 22, loading up $1 billion on Monday, the most since January.

"It's true that the valuation is cheap but if you are desperately closing your positions, valuations don't matter," said Yasutada Suzuki, head of emerging market investments at Sumitomo Mitsui Bank.

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