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Nomura Says Chinese Stocks Will Outperform

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strong_3 Aug. 2, 2010 (Chinavestor) After the Shanghai Composite (SHA:000001) surged 10% in July, good for its best monthly run in a year, Nomura Holdings said China’s yuan-denominated equities still look ''very cheap'' and could outperfom other global stocks over the next three months. Nomura cited improving liquidity and abating fears over tighter monetary policy as catalysts for Chinese stocks.

In recent weeks, Citigroup (NYSE:C), Goldman Sachs (NYSE:GS) and JPMorgan Chase (NYSE:JPM) have all issued bullish outlooks on Chinese stocks. The rosy outlooks point to looser restrictions on real estate lending and compelling valuations as reasons Chinese stocks may run higher into the end of 2010.

Investors are speculating China's government will increase investment and domestic spending to bolster the economy as growth slows, Bloomberg News reported. China's second-quarter GDP growth slowed from the first quarter and news crossed the wires over the weekend that manufacturing growth slowed in July.

Throught the first half of 2010, profits at 264 Chinese companies surged 50%, according to the the Shanghai Securities News. Nomura said China's A-share market appears "very, very cheap" and that those valuations could drive outperformance.



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