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RBS Joins Bullish Chorus On Chinese Stocks

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advance9 October 14, 2010 (Chinavestor) Royal Bank of Scotland (NYSE:RBS) joined an ever-louder chorus of analysts, experts and pundits that are becoming increasingly bullish on Chinese stocks, saying that Chinese stocks and other Asian equities are poised to benefit as the world's central banks employ looser monetary policies in hopes of sustaining the global economic recovery.

RBS (NYSE:RBS) boosted its overall rating on Chinese stocks to "overweight" from "underweight." The bank added that "relative valuations, liquidity conditions and ownership levels are now more attractive after a long period of substantial underperformance," according to Bloomberg News.

The Shanghai Composite (SHA:000001) has traded higher for six consecutive days and has now jumped 22% since touching its July low. That performance is good enough to put Chinese stocks officially in bull market territory.

Citigroup (NYSE:C) also offered up a bullish for the Hang Seng, saying the Hong Kong index could rise to may rise to 26,500 by the end of 2011, up from a previous forecast of 23,050.

Cabot Money Management Templeton Asset Management's Mark Mobius have also offered bullish assessments of Chinese stocks in recent days.



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