Chinese Equities and the Broader Market: Livy Investment Research

Wall Street Breakfast

Seeking Alpha

Business, Investing, Business News, News

3.8 • 950 Ratings

🗓️ 3 December 2022

⏱️ 19 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In this episode we’re joined by Lillian Cheung. We’re discussing Chinese equities such as Alibaba (BABA) and its effect on the broader market. Cheung is the author of Livy Investment Research. Livy Investment Research is a boutique investment research shop providing professional coverage on disruptive thematic equities. Their analysis provides a deep dive on growth drivers present in the secular market to identify outperforming investments. Plus, Kim Khan brings this week’s Catalyst Watch, the new Twitter poll for the week, and a preview of Lowe’s (LOW) Analyst and Investor Conference.

Transcript

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0:00.0	Welcome to Seeking Alpha's Wall Street Breakfast, your daily source of market news and analysis.
0:06.8	Subscribe to this podcast on Apple Podcast, Spotify or Stitcher.
0:11.2	Thanks for joining me today.
0:12.6	I'm Julie Morgan, host of Wall Street Breakfast,
0:15.2	Seeking Alpha's Daily flagship podcast.
0:18.2	Today's topic, Chinese Equities,
0:20.4	and their effect on the broader market. Joining me today is Lillian Chung.
0:24.0	She's the author of Livy Investment Research.
0:27.0	You can find them in the Seeking Alpha Marketplace.
0:30.0	Their most recent article is COVID zero protest analysis.
0:34.6	Can it get worse for Alibaba?
0:36.9	Lillian, thanks for joining me today.
0:38.9	Thank you for having me here.
0:40.0	It's my pleasure.
0:41.0	So let's jump right into it.
0:42.7	Tell me, what effect is China's zero COVID policy having on Chinese equities such as Alibaba?
0:48.9	Well COVID zero really impacts the valuation on Chinese equities in two main ways.
0:54.6	And that's really fundamental and evaluation multiple.
0:58.6	So on the fundamental aspect, we do think much of the justifiable challenges
1:02.4	to both top line growth and profit margins that are
1:06.0	stemming directly from impacts of COVID-0 have already been priced into Chinese equities like Alibaba.
1:11.7	But on the valuation, multiple aspect, we do think alibaba, there is still significant vulnerability to sentiment changes, which have been evolving on all kinds of relevant news headlines coming out of China.
	...

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