Goldman Sachs liking Chinese equites, citing valuations (bargains)

Reuters cite a note it has seen from Goldman Sachs, bullish on Chinese stockmarkets.

  • Hedge funds snapped up battered Chinese stocks over three days last week at the fastest pace in more than five years
  • Most of the action last week reflected hedge funds entering into outright long positions — betting stock prices would rise — rather than exiting short positions.
  • Hedge funds mostly piled into U.S.-listed shares of overseas companies, or ADRs, as a way of buying into Chinese equities
  • followed by them buying mainland A-shares and Chinese companies listed in Hong Kong, or H-shares
  • overall positioning in Chinese equities remains at five-year lows across both hedge funds and mutual funds

More at that link from Monday.

This article was written by Eamonn Sheridan at www.forexlive.com.

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