Asia's Stock Markets from the Ground Up , livre ebook

Marshall Cavendish International - Herald van der Linde

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150 pages

English

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This book is a practical guide to Asia's stock markets for a general audience. It is for people who do not know much about financial markets but, for whatever reason, would like to learn more. They could be seasoned expatriate pilots, academics and other professionals, newcomers in the region as well as students or young men and women about to start in the finance industry. The idea is to cut through the alphabet soup of industry jargon to provide a clear understanding of how these markets work, how they differ from each other in size and depth, what unique features each stock market has and what drives all the different sectors in these markets - consumers, the internet, banks and technology. The book includes helpful history lessons and personal anecdotes drawn from the author's 30 years in the world of Asian investments.

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Asia

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Publié par	Marshall Cavendish International
Date de parution	27 septembre 2021
Nombre de lectures	3
EAN13	9789815009521
Langue	English
Poids de l'ouvrage	4 Mo

Informations légales : prix de location à la page 0,0800€. Cette information est donnée uniquement à titre indicatif conformément à la législation en vigueur.

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PRAISE FOR THE BOOK
Asia s Stock Markets: From the Ground Up provides an approachable and entertaining, yet highly informative, overview of Asia s bourses. The book chronicles the fits and starts of Asia s capital markets development and gives investors frameworks with which to assess opportunities in these markets today .
- Carson Block
Founder
Muddy Waters Research
What a fascinating - and truly one of a kind - business book. van der Linde takes us on a unique journey around Asia s financial markets - from their sometimes unlikely origins to what makes them tick, and work for companies and investors today. Always interesting, he writes with authority on an increasingly relevant subject. Asia s Stock Markets is a must-read for both novice and seasoned stock pickers alike. Highly recommended!
- Philippe Espinasse
Capital Markets Expert and Author of IPO: A Global Guide
Van der Linde is one of the most experienced equity analysts and macro strategists in Asia. But, more importantly, he knows how to explain Asia s markets in an entertaining way (including personal anecdotes). He is also a master at making complicated financial concepts simple. (The discount rate on stocks? It works just like a supermarket s earlyevening markdowns on the price of fresh sushi). Neophytes to Asia s stock markets will learn much from this book, while being amused along the way. And even experts will find fresh insights and previously unknown nuggets.
- Garry Evans
Chief Global Asset Allocation Strategist
BCA Research, Inc.
Asia stock markets are extremely diverse and can be a bit of a mystery to outsiders. Van der Linde s investment stories and adventures get straight to the essence of these markets and provide an invaluable guide to spotting opportunities in the region.
- Ronald W. Chan
Founder and CIO of Chartwell Capital, Hong Kong, and Author of The Value Investors:
Lessons from the World s Top Fund Managers.
An absolutely superb introduction to the complexity of Asia s equity markets. Packed full of historical information, personal anecdotes and relevant insights from somebody who has lived the region s stock markets for the last 25 years. Highly recommended to anybody with an interest in Asian finance and equity investing .
- William Bratton
Former Head of Asian Equity Research at HSBC and Author of China s Rise, Asia s Decline
Asia s Stock Market: From the Ground Up is not just a compelling page turner but is also an authoritative compendium of markets in the world s fastest growing region. The engaging narrative covers topics ranging from Asia s oldest stock market, to Japan s spectacular boom and bust cycle, and China s meteoric rise. Written in a simple yet absorbing style, the book will appeal to both investors and to those simply interested in a good read. This well-researched book is an absolute treat.
- Umesh Desai
Author of The Singapore Blue Chips
For years, Herald van der Linde has been a source of sage advice on Asian stock markets for the world s top financial professionals. Now, he distils those years of insight and experience into a work equally accessible - and equally fascinating - for layman, individual investor, and full-time portfolio manager alike.
- Michael Kurtz
Hedge Fund Strategist, Hong Kong

Text 2022 Herald van der Linde
Published by Marshall Cavendish Business
An imprint of Marshall Cavendish International

All rights reserved
No part of this publication may be reproduced, stored in a retrieval system or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of the copyright owner. Requests for permission should be addressed to the Publisher, Marshall Cavendish International (Asia) Private Limited, 1 New Industrial Road, Singapore 536196. Tel: (65) 6213 9300. E-mail: genref@sg.marshallcavendish.com .
Website: www.marshallcavendish.com
The publisher makes no representation or warranties with respect to the contents of this book, and specifically disclaims any implied warranties or merchantability or fitness for any particular purpose, and shall in no event be liable for any loss of profit or any other commercial damage, including but not limited to special, incidental, consequential, or other damages.
Other Marshall Cavendish Offices
Marshall Cavendish Corporation, 800 Westchester Ave, Suite N-641, Rye Brook, Marshall Cavendish Corporation, 800 Westchester Ave, Suite N-641, Rye Brook, NY 10573, USA Marshall Cavendish International (Thailand) Co Ltd, 253 Asoke, 16th Floor, Sukhumvit 21 Road, Klongtoey Nua, Wattana, Bangkok 10110, Thailand Marshall Cavendish (Malaysia) Sdn Bhd, Times Subang, Lot 46, Subang Hi-Tech Industrial Park, Batu Tiga, 40000 Shah Alam, Selangor Darul Ehsan, Malaysia
Marshall Cavendish is a registered trademark of Times Publishing Limited
ISBN 978 981 5009 52 1
Printed in Singapore
Voor mij ouders, Hans en Fenna
T weark is doan en wie k nt t der wa met doon. Kieken wat t wordt.
Contents
Ups and Downs in Asia s Stock Markets: A Timeline of the MSCI All Country Asia Pacific Index 1995-2020
Introduction
Chapter 1 A Bit of History
Chapter 2 Myths and Misconceptions
Feature: US 10-year Bond Yields have Fallen Dramatically
Feature: Stock Valuations
Chapter 3 Market Psychology: Greed, Fear and Misplaced Confidence
Chapter 4 China s Stock Markets
Chapter 5 A Tale of Two Cities: Hong Kong and Singapore
Chapter 6 India s Stock Markets
Chapter 7 Taiwan and Korea
Chapter 8 Southeast Asia s Stock Markets
Feature: Bangladesh
Chapter 9 Japan
Chapter 10 Travel in Style
Feature: The Rise of Asia s Retail Army
Chapter 11 Goodness! Responsible Investing
Chapter 12 The Future of Asia
Feature: How a Trade Works
Asian Stock Market Indices
List of Referred Stocks
Bibliography
Acknowledgements
About the Author
Ups and Downs in Asia s Stock Markets: a Timeline - MSCI Asia All Country Asia Pacific Index 1995-2020
Introduction
This book is a gentle introduction to Asia s stock markets for a general audience. It is for people who do not know much about the markets but, for whatever reason, would like to learn more. They could be seasoned expatriate pilots, academics and other professionals, newcomers to the region, as well as students or young men and women about to start in the finance industry.
The idea is to cut through the alphabet soup of industry jargon to provide a clear understanding of the history of these markets, what makes them tick, how they differ from each other and the forces that will drive them over the next decade. But this is not a dry, technical how to textbook. Quite the opposite. There are inspirational success stories, utter calamities and juicy market scandals. This book is spiced with lessons learned and personal anecdotes, all of which the author hopes have contributed towards making him a wiser man after nearly 30 years in the world of Asian investment.
***
The idea behind this book started to ferment over a dinner of Indonesian food and a splendid view of Hong Kong harbour. Andrew, an Airbus captain and close friend of many years, turned to me a little sheepishly, gin and tonic in hand. The conversation went something like this:

What s the stock market doing?
I was surprised. Sports was his thing. And movies. He had never mentioned finance before.
What do you mean? I replied, feigning ignorance. He knew very well that I looked at markets pretty much every day.
We ve just sold the flat and I m not sure what to do with the money. I know very little about this stuff.
Look, I m not a financial advisor. I deal with big institutional investors. But as a rule of thumb, putting a chunk of your savings that you won t need in the next 10 or 15 years into the stock market is generally a good idea.
But what if the market goes down? I ll lose money.
You re a long-term investor, not a day trader. Think in terms of 15 years, not a week or two. Markets generally go up over time.
Do you think now is a good time to buy? I saw an economist on TV saying that things were going to seriously slow down.
That s possible. But economies and stock markets are very different. Many people think markets move in line with economies. That s often not the case, especially in Asia.
But I have no idea about what stocks to buy. I haven t got a clue about these things. It all seems very complicated.
Andrew, it s not. Honestly. You don t have to buy individual stocks. That s too risky for an investor like you. There are much safer, easier and cheaper ways to invest. There are things called ETFs, exchange traded funds. Don t be put off by the name. They allow you to invest in a whole range of different stocks, which reduces the level of risk. Mutual funds do pretty much the same thing.
My phone rang the next morning. It was Andrew. Morning, Herald. About that ETF
***
My conversation with Andrew got me thinking. There are many different types of investors. Hawk-eyed hedge fund analysts looking to swoop on mis-priced stocks, cautious pension funds which safeguard retirement pots, a host of professional asset managers and desk-bound day traders, and the new army of individuals who discovered stocks while they were stuck at home during the pandemic the list is long.
But there also many people like Andrew, who need to know more about what is, after all, a fairly important subject: the future of their savings. This book is for them. Stock prices rise and fall for many reasons - company results, a change in market share or profit margins, the success or failure of a freshly-launched product, the latest release of economic data or the introduction of a new government policy. Most novice investors get that. It s intuitive. But this book also offers a simple guide to some of the other prevailing forces that are not so obvious to the untrained eye, such as the tug of war between stock dividends and bond yields.
When I first sta