China Market Gloom Spurs Fund Managers to Seek for Hidden Gems
- China has growth issue, not systemic crisis: AllianceBernstein
- Health care looks attractive as bad news is priced in: Amundi
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The relentless selloff in Chinese stocks has made the market the worst performer in the world over the past three years. And that is exactly the reason some funds are looking to unearth pockets of value.
They see a contrarian signal in the extreme pessimism toward Chinese assets in recent months amid an economic slowdown, unpredictable government crackdowns and rolling property woes. Global funds as a whole have slashed their China stock positioning to the lowest since October, which to some means more room for potential buying.