Repeating in first place is the Bank of America Merrill Lynch crew co-captained by David Cui, who also helps direct (with Nigel Tupper) the No. 2 team in Equity Strategy, and Thomas Wong, co-leader (with Heekyung [Kenneth] Whee) of the group in third place in Oil & Gas. “We treasure their insightful and intensive views, which are based on decades of observation and scrutiny,” says one Hong Kong–based buy-side analyst. Another appreciates the 32-member troupe’s “unmatched insights into political trends — a key element, since China is still a policy-driven market.” Case in point: In March 2012, anticipating “only fine-tuning measures by the Chinese government in the foreseeable future,” Cui says, the team urged clients to reduce their exposure to Chinese equities. Since then, Beijing has unveiled no new major stimulus actions, and by mid-April 2013 the Hang Seng China Enterprises Index had slid 5.9 percent. The analysts continue to urge caution, citing the country’s “unstable financial market and overreliance on property purchases and local government investments,” he says. Cui, 45, and Wong, 40, and their associates follow 300 stocks — 50 more than last year — from offices in Hong Kong. — Ben Mattlin |
Country & Regions – China: First
