Some of China’s best performing stocks in 2023 were among top companies shunned by foreign investors because of sanctions imposed by the US government. Buying them may prove to be profitable again for unencumbered onshore funds in an election year in the US.
China’s biggest semiconductor maker SMIC, oil explorer CNOOC, cybersecurity company 360 Security Technology, and cellular-network operator China Mobile – among the 10 largest sanctioned entities – rose by 15 per cent to 147 per cent in onshore markets last year.
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