Mobius sees bargains in Chinese stocks

Mobius: ‘A lot of the negativity is already priced in, but it would be a mistake to call it the bottom since markets tend to go further down or further up than anyone expects.’

HONG KONG: When Mark Mobius looks at the wreckage of Chinese stocks traded in Hong Kong, he sees bargains.

The Hang Seng China Enterprises Index plunged 49% from its May high through last week, sending valuations to record lows, as concern over China’s economic slowdown and heavy-handed state intervention in mainland financial markets spurred outflows.