The Chinese market has yet to become overvalued, says Singapore-based Henderson Horizon China fund manager Andrew Mattock
Why have we seen such a rebound from China this year? Recent policy changes emanating from China have maintained a clear focus on the domestic attributes of the Chinese economy. Also macroeconomic data has indicated a faster economic recovery than expected, with the leading economic indicator, the Purchasing Managers Index, edging up to 55.1 in August and the year-on-year growth of daily average power production turning positive. Early signs of EBIT recovery at company levels are very encouraging, and this should provide a firm valuation support to the equity market. The economic r...
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