Value Partners Shifts to AI Stocks in China Amid Lower Valuations and Outlook

Value Partners Asian Income Fund manager Kelly Chung is increasing exposure to Chinese AI stocks due to relatively better valuations and outlook compared to South Korea and Taiwan. Chung has been selling stocks in Taiwanese and South Korean markets to buy more Chinese hyperscalers listed in Hong Kong, citing low capital expenditure for AI infrastructure investment in China. The funds, which have $490 million in assets, have beaten at least 98% of peers in the past year.