I invested $4,120,000 HKD ($714,000 SGD) in 5 China tech stocks, namely Alibaba, Baidu, SMIC, XTE and New Oriental Education.
At the worst point on 15 Mar 2022, my holdings suffered a loss of 38.76%.
The stocks rebounded over two days. My loss has reduced to 21.87%.
The rebound was caused by two positive developments:
- The financial authority in China stated that they wish to see a stable stock market.
- They are likely to come into an agreement with US regulator regarding the listing of China stocks in America.
I hope to see further recovery of these stocks.
Note - This is a personal observation. It is not financial advise.
Tan Kin Lian