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Feature: Chinese market rally has further to go
08 February 2010
China's market has rallied 60% during 2009, but this is not bubble territory
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China
Baring
HSBC AM
equities
Domestic consumption will remain a key driver for the economy in the Chinese New Year of the Tiger, according to Richard Wong, manager of the $3.6bn HSBC GIF Chinese Equity fund.
Wong also believes that despite the market rally of 60% (in USD terms) during 2009, China has further growth potential. In 2009, the performance of China lagged that of the other large emerging markets such as Brazil (121%), Russia (100%) and India (101%). As such, the China market offers further upside potential and could catch up with the gains of other BRIC markets this year, he believes. Despite the continued expansion of the Chinese economy, China’s share prices still do not reflect their full potential, says William Fong, manager of the Baring China Growth Fund. Barings remains positive on the prospects for the Chinese equity market over the medium to long term, despite...
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