Chinese education stocks in Hong Kong also took a beating, with New Oriental Education & Technology Group, Koolearn Technology and China Beststudy Education Group plunging more than 30% each on Monday.
"For private (global) investors brutally blind-sided by the rude shocks to many of these internationally listed Chinese companies, a painfully sobering message may be: 'You can take the company listing out of China, but you can't take China (risks) out of the company,'" Varathan said.Even in the current market turmoil, JPMorgan Private Bank's Alex Wolf sees opportunity in mainland-listed stocks, which are harder for retail investors to access compared to those listed in Hong Kong.and Hong Kong and such stocks tend to be largely owned by overseas investors due to how difficult it is for mainland investors to access, said Wolf, who is head of investment strategy for Asia at the firm.
Wolf cited Beijing policy initiatives such as a shift toward decarbonization and localization as moves that are likely to benefit firms listed in mainland China