Jul
04
China Hedge Fund Says Stocks Are Near Bottom
By-
Fund is buying thermal power, electrical equipment firms
- Yuan may continue to fall but the slide to be modest: Wang
The rout in Chinese stocks may be nearing an end as the central bank turns to more accommodative monetary tools, according to Shanghai Chongyang Investment Management Co., whose flagship hedge fund has returned 356 percent since its launch in September 2008.
“While asset prices will face a ceiling given China’s tough regulation, risk prevention and deleveraging, a more flexible policy stance will put a floor under risk asset prices,” said President Wang Qing. “The market clearly is in its bottom range after earlier corrections.”…
