Mobius Says Not Too Late to Buy China With 20% Upside

Mark Mobius says it’s not too late to buy into the rally in Chinese stocks.

The executive chairman of Templeton Emerging Markets Group predicts the nation’s equity market will climb another 20 percent, following a 19 percent surge in the Hang Seng China Enterprises Index from March 20 through yesterday. Mobius, whose $12 billion Templeton Asian Growth Fund has outperformed 94 percent of peers this year, favors state-owned banks and energy companies because of their cheap valuations and the government’s plans to open up state-dominated industries.