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Mobius Says China Stock Rally "Sustainable"

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advance2 October 13, 2010 (Chinavestor) Templeton Asset Management's Mark Mobius, one of the most respected global investors in the world, said Chinese equities will keep their bullish ways going after officially entering bull market territory on Tuesday. Mobius said the rally is "sustainable" and that it will continue. The comments were made in an interview with Bloomberg News.

 

Even with a rally of 20% off the July lows, the Shanghai Composite (SHA:000001) is still down 13% this year, making it Asia's worst performing major benchmark. By comparison, Indonesia's benchmark index is up 40% while Thailand's is up 33%. Prior to Chinese stocks claiming bull market status on Tuesday, Indonesia and Thailand were the only Asian markets with that distinction this year.

Malaysia's benchmark bourse is up 17% this year and Indian stocks have also sharply outperformed their Chinese counterparts.

“China now is going to start picking up because the rest of the world is picking up,” Mobius told Bloomberg. “That’s what will happen, because China’s been behind.”

Overseas investors pumped the most cash into emerging- market equities since late 2007 in October with equity funds garnering $6 billion in fresh capital in the week ended Oct. 6, the biggest amount in 33 months, Bloomberg reported, citing research firm EPFR.



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