Chinese equities stand a good chance of rebounding in the second half of this year, even though measures introduced to cool the property market are likely to remain in place, says Richard Wong, fund manager at HSBC Global Asset Management.
He believes the market was caught by surprise by the authorities' reversal of some of the loose monetary policies put in place last year. “But the government is now changing its tone slightly regarding credit tightening, as signalled by its recent announcement of new infrastructure projects,” he says.
On the property sector, Mr Wong expects policies to stay tight. Government wants to ensure prices do not surge again.
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