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China Stock Rally Not Over, Strategist Says

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smart_1 October 27, 2010 (Chinavestor) There's still gas left in the tank of Chinese despite a voracious rally that has seen the country's equity markets bounce more than 20% of their July lows to officially enter bull market territory. Michael Yoshikami, investment strategist at YCMNet Advisors said the rally "still has legs" and will be fueled by China's growth expectations.

The Shanghai Composite (SHA:000001) is up 14% since Septebmer, though the gains have been tempered since the Peoples Bank of China unveiled China's first interest rate hike in three years. In an interview with Bloomberg News, Yoshikami echoed recent sentiments from other strategists that the rate hike highlight's Beijing's confidence in China's economy.

China's GDP grew at 9.6% in the third quarter, beating the consensus estimate of 9.5%, but that still trailed second-quarter growth of 10.3%. Yoshikami, who focuses on China ETFs, said he likes consumer consumer companies, but isn't as bullish on banks and propety development firms.



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