Yuan Shift Won’t Make Stocks Better Buys, Mobius Says

Templeton Asset Management Ltd.’s Mark Mobius said the end of the yuan’s exchange-rate peg hasn’t made China’s stocks more attractive, challenging speculation that a stronger currency will spark a rally in equities.

“The yuan appreciation will not have a dramatic impact since the exchange rate change is not expected to be significant,” said Mobius, who oversees about $34 billion in emerging markets as Templeton Asset Management’s Singapore-based chairman, in e-mailed comments. China’s stocks “have not become more attractive generally,” he said.