APS in the News
China’s next long-term bull market will still be led by technology
At the end of 2023, Wong Kok Hoi, executive chairman and strategist of APS Asset Management, predicted that China was entering a decade-long bull market, driven by manufacturing, innovation and talent — “MIT”.
Singapore should anchor hedge fund decision-makers, nurture home-grown managers amid regional talent war: industry watchers
As tax advantages narrow across competing financial hubs, Singapore’s true competitive edge will depend on more than drawing capital – it will need to anchor the decision-makers who manage and allocate it, said hedge funds and industry watchers.
Why China isn’t doing more to boost domestic demand
One of the most frequently asked questions about China’s economy is deceptively simple: Why isn’t Beijing doing more to stimulate domestic demand?
China’s next big leap: becoming a frontier science civilisation
Beijing’s pivot to focus on basic research signals a transition from an industrial civilisation towards a scientific civilisation looking to lead...
US-China rivalry and the Kindleberger Trap: Why inaction – not escalation – is the biggest risk
The intensifying rivalry between the US and China is often framed through the lens of conflict – most notably the so-called Thucydides Trap, which warns of war between a rising and an established power...
Can China’s ‘slow bull’ market succeed?
China is attempting one of the most unusual experiments in modern finance: building a large capital market that serves national development goals while still delivering credible returns to investors...
APS Founder Says China Assets “Unmissable Opportunity”, cites “MIT”
We are pleased to be a China Securities Journal feature earlier this week on our Founder, Executive Chairman, and Chief Strategist Mr Wong Kok Hoi, who spoke at the recent Golden Bull Awards...
China’s 'MIT’ is why Wong of APS remains a bull
For veteran fund manager Wong Kok Hoi, the recent pickup in China’s stock markets is a clear vindication. When Chinese stocks were beaten down over the past few years, he stuck to his guns and declared his optimism loudly...
China stocks a source of ‘sustainable alpha’, says veteran fund manager
Veteran investor Wong Kok Hoi, founder of APS Asset Management, has weathered more than three decades of investment cycles and crises...
China’s future lies in tech; watch biotech and semiconductors: CIO
Wong Kok Hoi, CIO of APS Asset Management, says China is going ‘all in’ on tech, and that markets have not yet priced in what could be a major boost in productivity and efficiency....
Ten trading days that shook financial markets
For Wong Kok Hoi, founder and chief executive officer of APS Asset Management in Singapore, it was a scenario he has been worrying about for years...
Bloomberg The China Show - Chinese Investors Calm Amid Trade War
Wong Kok Hoi, founder of APS Asset Management, says Chinese investors have adapted to "hostile" US actions on mainland firms. However, he argues that the risk premium has gone up under this period of "great uncertainty and irrationality." He speaks with David Ingles and Annabelle Droulers on "Bloomberg: The China Show."
CNBC Street Signs Asia - China’s high-tech sector output will surpass that of real estate: CIO
Wong Kok Hoi, CIO at APS Asset Management, weighs concerns about China’s real estate and structural issues against DeepSeek’s impact on the economy.
Investing in China: Confidence and Determination (Dialogue with APS co-CIO Wong Kok Hoi)
The transcript of a recent dialogue between Wong Kok Hoi, co-CIO and founder of APS Asset Management, and China's CICC, which was watched by their onshore clients.
Bloomberg The China Show - Tencent Share Dip Presents Buying Opportunity, APS Says
A fund manager who outperformed 90 percent of his peers in the last quarter says he still likes Tencent for its business model, despite the Chinese tech giant’s addition to a US Defense Department blacklist.
CNBC Street Signs Asia - China may be poised for a decade-long bull run: Hedge fund
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.
"All In" on Chinese Assets: Optimistic About Hard Tech's Investment Potential
Since entering the Chinese market in 2002, APS Asset Management has navigated through many cycles of bull and bear markets, maintaining a steadfast and rising conviction in Chinese equities...
Beholding the fundamentals
In a matter of days, the mood of China equities investors has swung from extreme despair and pessimism to rising positivity, fresh hopes, and even scattered euphoria...
Singapore investors can ride on China growth story but should tread cautiously: Experts
Foreign investors are reconsidering the Chinese share market after recent stimulus measures boosted hopes that the tide has turned positive...
Avoid the ex-growth stocks, invest in these that represent the ‘future of China’ instead: CIO
Wong Kok Hoi of APS Asset Management shares which sectors of the Chinese market he is avoiding and discusses two stocks he believes are “promising stars”...
Why 5% economic growth in China is better than 10%
A more moderate rate of expansion helps to prevent bubbles and systemic crises, and contributes to a sustainable bull market...
Macro hedge funds: When solvency hangs in the balance
The closure of the Asia Genesis Macro Fund by veteran fund manager Chua Soon Hock marks a stunning fall from grace...
CNBC Street Signs Asia: There's a 'perception gap' about investing in China, CIO says
Wong Kok Hoi of APS Asset Management says investors are focusing more on the negatives than the positives...
Investing in the New China
Despite China's pandemic restrictions on foreign travel, Wong Kok Hoi of APS Asset Management did not let up for a moment...
APS Hedge Fund Still Shorting JD.com After Bearish Bets Pay Off
APS Asset Management, which shorted JD.com Inc. as early as 2017, remains bearish on the Chinese company after the trade partly helped with a 7.6% gain for its hedge fund in the first 10 months...
Computer scientist with a passion for biomedical engineering wins prestigious Rhodes Scholarship to Oxford
A Stanford computer scientist who hopes to leverage cutting-edge AI technologies for use in medical treatment has won the Rhodes Scholarship this year...
China funds look to Mideast cash as US investments wane
Chinese funds are seeking new capital sources in the Middle East and other markets, managers say, in a shift that could reshape investment flows as diplomatic tensions and other risks drive many U.S. investors out of the country...
China will weather the post-Covid blues: APS
The world’s second-largest economy can still expect mid-single digit growth for years to come, says APS Asset Management, but the value on offer is the best it’s seen in decades...
China Unlikely to Roll Out 'Big Bang' Stimulus Amid Low Inflation
The People's Bank of China cut its short- and medium-term policy interest rates by 10 basis points this week in a sign that further easing of its monetary policies will occur, but economists and investors are not hopeful for any "big bang" stimulus and instead expect a gradual easing to boost consumption...
Interview (Xinhua): China's Development Potential Will Continue to Bring New Opportunities to Investors——Interview with Wong Kok Hoi, Founder of APS Asset Management
Wong Kok Hoi, founder of Singapore's APS Asset Management, said in an exclusive interview with Xinhua News Agency that China's deep development potential will continue to bring new opportunities to investors..
A Tale of Two Chinas
The golden period of China’s e-commerce sector is over. Valuations need a reset in line with mature stocks, instead of growth stocks...
Investors Lose Taste for Pricey Chinese Liquor as Xi Renews ‘Common Prosperity’ Call
Chinese President Xi Jinping has a vision to distribute wealth more equally across the country. Investors are sobering up to what that could mean for the companies that make the nation’s beloved fiery booze...
Nexus FrontierTech and APS Asset Management Develop Award-winning Platform for ESG Data Analysis
Nexus FrontierTech and APS Asset Management are jointly developing a platform for ESG data analysis on companies with principal offices or significant business activities in China, Hong Kong, Macau, Taiwan, and Singapore that issue equity and equity-related securities..
What the Japanese bubble taught me
The Japanese economic miracle hit its zenith in 1989...
Boosting income streams for your golden years
With rising inflation today reducing the real rate of return of bank savings, growing your retirement nest egg is a challenge, but there are still a number of investment vehicles that prospective retirees can consider...
Avoid standing naked when the tide goes out
The years 2020 and 2021 have been extraordinary. Ravaged by an unprecedented pandemic, major economies pumped in vast liquidity into their respective financial systems to save themselves from deeper stagnation...
Tencent pursues quieter investment strategy amid China's Big Tech crackdown
Pony Ma seeks to avoid Beijing's push against perceived monopolists by targeting expansion overseas...
Has the 'common prosperity' drive hurt China's prospects?
I have been travelling in Shanghai, Beijing, Shenzhen and Hangzhou for the past 11 weeks, meeting the founders, chief executive officers and senior management of over 20 listed companies...
Tencent and Alibaba pledge to open up apps to competitors
China's two largest tech companies promised to open up their digital empires on Monday, a move that may reshape online life for hundreds of millions of users...
China's crackdown on Alibaba goes beyond teaching Jack Ma a lesson
China's antitrust probe into Alibaba Group Holding Ltd., the country's largest and most high-profile internet company, is more about sending a message to the tech industry than targeting the group and its founder Jack Ma, industry observers said...
How China’s big tech companies upset Beijing
The climate is cooling rapidly for China’s tech giants.
After years of warily allowing companies such as Alibaba and Tencent the freedom to grow without significant interference, Beijing has signalled it does not like how Big Tech is behaving...
Pursuing passion for migrant worker issues
Harvard graduate Poh Yong Han is the first in her family to go to university, but her parents never pressured her to excel in her studies...
Ant Group’s dramatic listing halt may chill other fintech IPO hopefuls
The unexpected halt of Ant Group Co. Ltd.'s dual listing in Shanghai and Hong Kong two days ahead of its scheduled debut highlights the fast-changing nature of China's regulatory environment for the financial technology sector and may lead some other fintech companies to rethink, or even pause, their IPO plans, experts say...
Big-Name Asia Hedge Funds Raise Billions, Startups Struggle
Established Asian hedge funds have attracted the lion’s share of new money this year, while startups have been hamstrung by global travel curbs that have made it impossible for face-to-face meetings with European and U.S. asset allocators...
Hedge Fund Boosts Cash on Growing Risk of U.S.-China Armed Clash
As investors grapple with the relentless rise in global coronavirus cases, one Singaporean hedge fund is preparing for another dire event -- the possibility of an armed clash between the U.S. and China.
In the lead-up to November’s U.S. presidential election, APS Asset Management Pte. is increasing allocations to the relative safety of cash, along with stocks that would weather an outbreak of hostilities, said founder and Chief Investment Officer Kok Hoi Wong...
Hedge Fund Bears, Volatility Managers Thrive in Wild Markets
Wong Kok Hoi, founder and CIO of Singapore-based APS Asset Management has been bearish on JD.com for years. Last week, SumZero published his full-length short report on the e-commerce giant, whose $60B valuation he deems "unjustified". We sat down with Wong for an in-depth dissection of his thesis and more detail on the red flags investors are either missing or underestimating...
Hedge Fund Bears, Volatility Managers Thrive in Wild Markets
Wong Kok Hoi, whose company manages $2.3 billion of assets for largely institutional clients, said his $270 million APS Asia Pacific Long Short fund is up 14.3% this month. It’s gained 21% this year thanks in large part to bets shorting Wynn Macau Ltd., Apple Inc., and Australian retailer Harvey Norman Holdings Ltd., whose shares have all tanked.
Its smaller All China Long Short Fund has returned 14% this year while its flagship long-only China funds are down 4% -- a respectable achievement given its mandate and the state of the market.
“We’re at the early stage of capitulation by investors because many, especially in the U.S., have been so long for so many years and leveraged. They’re only just beginning to unwind,” Wong said. “Covid-19 has just started in the U.S. and Europe. If I use baseball language to describe it, they’re probably in the second or third innings."
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