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Investing in foreign market (在外国市场进行投资)
YOLO123
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How many of you are only investing in Malaysia market? We all know that the benefit of investing in your own country is that you get to know all the first-hand information. If US investors want to know any information about Malaysia market, they will probably need to wait for another 8-12 hours since we have different time zones, and they will be sleeping by the time this first-hand news was released. If so, why do we still want to invest in other countries if we are unable to obtain the information or news as soon as possible?

First, the writer is talking about investing here, but not trading. Obviously, some trading will need to base on their latest news, where they sell when bad news incoming, and buy when there is good news. However, investing is more of a long term approach that can disregard any temporary news, as investors are relying more on the company’s future and prospect. Secondly, let’s take technology stocks as an example. In Malaysia, most technology related stocks are involved in upstream or midstream process, where they may be assembling, testing, or outsourcing the chips, electronics, or components. They do not have the market to sell their end product to all over the world like Apple and Samsung.

Once again let’s use technology stock as an example. Malaysia’s technology stocks have their PE ratio between 30 to 80, and that is extremely overvalued even in terms of growth investing. However, APPLE and FACEBOOK only have PE ratio of 31 and 40, respectively. We can see that most stocks in foreign market is not that overvalued, well, besides some exceptional case such as TESLA. Besides, although components from Malaysia are essential for giant companies such as TESLA and APPLE, but the establishment is far behind from these giant foreign companies. For example, asking a random people one electric car brand, no doubt that they will say TESLA, but asking one of the ATE companies in the world, the writer doubted that they will answer PENTA or GREATEC.

Furthermore, there is political issues in Malaysia where no other countries have. US’ general election is not a political issue but a procedure, hence the aftermath is expected. However, there will randomly be a political issue in Malaysia that causes the market to crash for few days before rebounding back. For that, KLCI index is almost restricted to stay uptrend when their fellow peers have been rising from the March dip. China’s market had rebounded since, and never looked back, while US market is more bullish that they broke their historical 30,000 points few weeks back. Meanwhile, Malaysia is satisfied for touching back 1600 points.

In short, there are obviously some good companies in Malaysia to invest, but only limited amount, hence why their price and PE ratio are that high. It will be a good chance to try to diversify your investment journey to foreign countries, and try their performance. This is something that the writer would like to try for a while now, and it seems to be rather interesting trying to understand some terms and wordings that they used in their reports.

你们有多少人是只投资在马股的?我们都知道投资在自己国家市场的好处就是能够获得第一手消息。假设美国投资者投资在马股的话,他们因为时差的关系,所以获得消息的时间会延迟8-12个小时,特别是有消息的时候他们应该在睡觉。那既然这样,为什么我们还要投资外国市场呢?

首先,笔者在这里说的是投资而不是交易。一些交易的确需要最新的消息,比如他们在有坏消息的时候卖票,而在有好消息的时候买票。但是,投资是一个比较长远的方法并注重于公司的前景,所以可以忽视掉暂时的新闻与消息。第二,我们拿科技股来举例。在马来西亚,大多数的科技相关公司都是上游或者中游的·,意思是他们通常负责组装,测试,和外包这些晶片,电器和零件。他们并没有好像APPLE和SAMSUNG庞大的市场来销售全世界。

我们再拿科技股说说。马来西亚的科技股,它们的本益比都介于30-80之间。就算在成长型投资者来说也是被高估的。但是,APPLE和FACEBOOK却给自只有31和40的本益比。从这我们可以看到外国的科技股并没有那么被高估,除了好像TESLA般的特殊情况。此外,尽管马来西亚科技是不可或缺的零件之一,但是知名度却非常的低。比如,如果你问一个路人给出一个电子车品牌的名字,他们第一个答案肯定是TESLA,但是如果随便问一个人给出一家ATE公司的名字的话,笔者不太相信他们会说出PENTA或者GREATEC的名字。

除此之外,马来西亚也有其他国家没有的政治因素。美国的大选尽管有很大的波动,可是都算不上是政治因素,它只是一个必然的过程,所以大家都已经有心理准备了。但是,马来西亚的政治因素会随机出现,并且会导致股市的动荡,过后才会反弹回来。因此,马股指数才感觉那么的受阻,并且很难保持上涨趋势,反之它的“朋友们”都从三月底部上涨了很多。中国市场早就从三月反弹了上来,并且直逼前期高度,美国市场也牛气蓬勃,在几个星期前破了历史的30000点。反之,马股却在1600点以上徘徊。

总结,马股中当然有好的公司纯在,但非常有限,造成好公司的股价和本益比都非常高。这可以是个多元化你投资组合的机会,把一些资金放在外国市场然后看看他们的回酬。这是笔者一直都想试的东西,而且尝试理解其他国家在报告中所用到的用词和词汇也不见得是一件坏事。

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https://klse.i3investor.com/blogs/InvestingKnowEverything/2020-12-28-story-h1538402144.jsp

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