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Xinyuan Real Estate Co., Ltd. Message Board

  • acorisk acorisk Nov 25, 2012 11:42 PM Flag

    Nice to see investor sentiment moving back toward China...

    Nice to see investor sentiment moving back toward China....

    Below from article on yahoo finance main page tonight...

    GLTA & to the US crew, hope you had a happy thanksgiving.

    The shift in foreign investor attitudes is clear.
    Bank of America Merrill Lynch's global survey of fund managers, covering 248 managers with $695 billion of assets under management, found confidence in China's economy was at a three-year high.
    In October, Chinese shares listed in Hong Kong, known as H-shares and the main gateway for foreign investors into China, jumped 7.6 percent to easily outpace other regional benchmarks.
    "I think most fund managers are looking at the fundamental mismatch in their portfolio between their direct exposure to China and the role China plays in the global economy, often very little versus one hell of a lot," said Michael McCormack, executive director at China-focused fund consulting firm Z-Ben Advisors.
    "Investors are now trying to rebalance that."
    One attraction is valuations. The MSCI China index, the most popular benchmark for China funds, has consistently underperformed Asian markets over the past two years, following a stellar run where it nearly tripled in value between October 2008 and November 2010.
    The index trades on a forward price-to-earnings multiple of 9.2, cheaper than Brazil on 9.9 and India on 13.2, and a lure to investors hoping to get in early on another substantial upswing. The H shares are at price-to-book ratios around four times lower than in 2007, according to Thomson Reuters data.

    Sentiment: Buy

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