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JCGI Jpmorgan China Growth & Income Plc

1.00 (0.40%)
Last Updated: 09:31:53
Delayed by 15 minutes
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
  1.00 0.40% 251.00 42,922 09:31:53
Bid Price Offer Price High Price Low Price Open Price
249.50 251.00 262.00 250.50 262.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Trust,ex Ed,religious,charty -36.89M -43.13M -0.5184 -4.84 208.84M
Last Trade Time Trade Type Trade Size Trade Price Currency
10:18:13 O 70 249.688 GBX

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Date Time Title Posts
20/5/202412:15JPMorgan China Growth & Income Investment Trust320

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Posted at 22/5/2024 09:20 by Jpmorgan China Growth & ... Daily Update
Jpmorgan China Growth & Income Plc is listed in the Trust,ex Ed,religious,charty sector of the London Stock Exchange with ticker JCGI. The last closing price for Jpmorgan China Growth & ... was 250p.
Jpmorgan China Growth & ... currently has 83,202,465 shares in issue. The market capitalisation of Jpmorgan China Growth & ... is £208,838,187.
Jpmorgan China Growth & ... has a price to earnings ratio (PE ratio) of -4.84.
This morning JCGI shares opened at 262p
Posted at 13/5/2024 12:13 by brucie5
That's reassuring, Logan. I'm not sure that the intelligence services share your confidence; though what we hear is obviously filtered through MSM. Countries do daft things; and China's record since 1949 is hardly inspiring. 100k troops lost would be small fry in the greater scheme of national reassertion.
Posted at 10/5/2024 08:16 by quepassa

This is a copy of your post number 271 from just three months ago on 23/1/24:-

"I hope to re-buy back in at around the 100p level."

Price then 200p.

Price today 255p.

Care to comment?
Posted at 27/4/2024 17:21 by loganair
25 April 2024 - Fidelity - China, India: which is the best buy? by Graham Smith:

China or India?

Ultimately it comes down to a trade-off between expected growth and current valuations. China looks cheap around current levels, while India may be verging on expensive. Even so, investors probably won’t mind too much paying up for India’s growth provided it keeps going.

Forecasts suggest Indian growth is set to remain world-beating over the medium term. That implies even stronger earnings growth among the companies best placed to capitalise on India’s success.

Meanwhile, China has begun to attract contrarian buyers on the basis that the bad news is in the price. Shares appear to have broken out of the yearlong downtrend of 2023 following a trend reversal at the beginning of February. These are the first signs we’ve seen of the possible ending of the buy India/sell China trade.

Given that China’s government appears to have thrown its hat into the ring in an effort to support the economy and stock market, hopes run high a new uptrend is forming. Signals from the economy have been broadly positive, including improving manufacturing surveys and inflation turning positive in February after six months in negative territory.

For all its present difficulties as well as far less favourable population demographics, China’s middle class will probably expand further over the next few years driving current and new markets with it. China’s evolving aspirational brands and the dominant market positions it has built up in electronic vehicles (EVs) and renewable energy hint at the great potential still to be tapped.
Posted at 09/2/2024 08:33 by loganair
MoneyWeek - Will China roar for investors as it enters Year of the Dragon?

It’s been a volatile few years for investors in China, but is now the time to buy as it marks the Chinese New Year? We look if you should invest in China:

China is set to enter the Year of the Dragon, but will its economy finally start roaring for investors?

There will be plenty of celebrations for the Chinese New Year this weekend but there hasn’t been much to cheer about for investors on its financial markets in recent months.

China has delivered poor returns for investors as the country recovers from its strict pandemic policies and wider political and financial concerns.

It has failed to live up to post-pandemic hopes of a recovery boom, with retail sales down, a declining population and a deepening property downturn that has been made worse by the recent collapse of property developer Evergrande.

The country posted GDP figures of 5.2% in 2023, described as sluggish by analysts.

Its latest inflation figures suggest China is stuck in a deflationary period, with its consumer price index down 0.8% annually for January.

It was the fourth consecutive month of decline and the largest since September 2009.

“This bad news could actually be good news,” says Josh Gilbert, market analyst at eToro.

“The result is further evidence that the economy needs support. There needs to be a big lift in demand in order to see China lift out of deflationary territory, and that needs to come in the form of a more aggressive policy stance.

“There is a risk is that we may not see that, which would further dent confidence, hold back spending and ultimately mean the rout in Chinese equities ensues.”

China has already been an absolute shocker of a market to invest in over the past few years, dragged down by property woes and concerns about the financial sector,” says Ben Yearsley, investment director at Fairview Investing.

“It was the value play last year. and just continued to get cheaper.”


It has been a tough time to invest in the emerging market.

The Shanghai Composite Index is down 12% over the past 12 months and has declined by 4% since the start of the year.

One of the main risks of investing in China is its ageing society and falling birth rates.

But Vikas Pershad, portfolio manager, Asian equities for M&G Investments, suggests this may provide investment opportunities.

“Counterbalancing the heavy impacts of an aging society will require more than novel gadgets, products and services,” says Pershad.

“It will take better policies on immigration and taxes, more investment in physical infrastructure and changes in mindsets about what an aging citizenry looks like and is capable of accomplishing. It is worth remembering that, under the right conditions, the embers of old age can be reignited.

“That takes inspiration, a little time and some fire. Seems like a job for a dragon.”

Even the top-performing China funds have suffered recently though, due to a number of economic and geopolitical concerns denting investor sentiment, says Darius McDermott, managing director at FundCalibre

The majority of the funds in the sector are down more than 45% over the past three years, according to FE Analytics data.

"Investors are not only concerned about rising authoritarianism in Asia’s powerhouse, but also a whole host of risks looming over China's economy ranging from a prolonged property downturn to deflation risk and slowing economic growth,” adds McDermott.

“Indeed, in November, outflows of foreign direct investment in China exceeded inflows for the first time since tensions with the US escalated.

“The market fluctuations we have seen in Chinese equities just underscores how investors should view China as a long-term play.”

The Year of the Dragon is meant to be typically associated with good luck and fortitude and McDermott suggests now could be a good entry point.

"In 2023, China's domestic consumer and manufacturing confidence stabilised as pent-up demand for goods and services finally began to filter through to the economy,” he adds.

"This process has allowed the Chinese economy to normalise. While some sectors such as real estate continue to face stiff structural headwinds, targeted government stimulus is helping to revive the ailing economy.”

“We are likely to see the key drivers for the economy start firing in the Year of the Dragon. This will include a broadening of services consumption and the continued uptick in tourism.

"China remains a high-risk area, but there is potential for rich rewards for those with a long-term mindset.”

It remains an economic and political powerhouse and there are hopes that Beijing officials will step in to stimulate the economy such as with interest rate cuts, which could provide a boost for the stock market and investors.

“The contrarian in me says it’s a buy,” adds Yearsley

“There's only so long Beijing will put up with market lows and the knock on effect to consumer confidence. It is still the world's second largest economy and a huge stock market. The big issue is what will knock it from the bottom?”


Yearsley suggests getting close to the Chinese consumer rather than state-backed enterprises.

He highlights the Matthews China Small Companies Fund, which is up 12.81% over five years compared with a 19.27% drop in the Greater China sector.

Its three-year performance is less impressive, down 50.39% compared with a sector drop of 50.85%

While recent performance for many funds has been poor, McDermott highlights that some funds have impressive 10-year returns.

“The fund concentrates on the stocks of companies that are incorporated in China and that are listed as A-shares on the stock exchanges of Shanghai or Shenzhen,” he says.

“The Chinese A-share market is priced in Yuan and was originally restricted to domestic investors, so has a large retail investor base. The market’s size and inefficiencies present great opportunities for active funds like this one.”

Similarly, the Fidelity China Special Situations Fund has returned 120.91% over 10 years.

“Due to its bias towards smaller and medium-sized companies in a developing market, this trust is not for the faint-hearted and investors should be prepared for large fluctuations in the value of their investment,” adds McDermott.

“But those willing to take the risk could be handsomely rewarded over the long term.”
Posted at 08/2/2024 17:24 by loganair
China's consumer prices fell at their steepest pace in more than 14 years in January while producer prices also dropped, ramping up pressure on policymakers to do more to revive an economy low on confidence and facing deflationary risks.

The consumer price index fell 0.8% in the year through January after a 0.3% drop in December and more than the 0.5% forecast by economists.

What's more, Hong Kong's Hang Seng relapsed - losing 1.3% and dragged down by a 6.1% decline in Alibaba after the internet giant missed quarterly revenue estimates.
Posted at 04/2/2024 11:42 by loganair
Even though just coming up to the Chinese New Year when food prices normally rise, they are actually falling.

They're are not only falling, the demand, the amount of food being sold is also falling which strongly shows how little money the Chinese consumer now has to spend.

I still solidly stand by my forecast that JCGI will continue to fall to between 100p and 150p which is good for the long term investor who will be able to pick up stock on the cheap when nobody loves Chinese shares as they are out of fashion to own.
Posted at 26/1/2024 09:59 by loganair
My thoughts are this trust could drop to 100p/150p some time during in 2024 then with in 10 years see the share price back up to 500p/600p which over the long run share holders could see gain of 50% per year if able to buy in anywhere near the bottom.
Posted at 15/1/2024 08:59 by loganair
I hope the Trusts share price falls by another 50% from here as I would love to pick these up at 100p.
Posted at 05/6/2023 07:47 by loganair
China was so late out of lock down, by the time it did the rest of the world was already slowing down therefore the Chinese people have decided to save their cash instead of spending it.

The Chinese real-estate sector seems to be going from bad to worse.

All-in-all it seems to me highly likely that JCGI share price will go sub 200p and likely to see sub 150p before this is all over.
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.
Jpmorgan China Growth & ... share price data is direct from the London Stock Exchange

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