George Magnus, a senior independent economic adviser to UBS
- Says Chinese stocks are not close to bottoming
- "When the equity market was falling in August, some people said this is a buying opportunity, that this is a multi-year bull market. I don't think we will see that unless there is a very significant change in the politics of China.
- We need to see significant change in the way in which the economy is working and in the way in which the reform is working and both of these things are on the rack at the moment."
More here at the Sydney Morning Herald
If you can't access the SMH, link to the same at Bloomberg
-
Even if there were a reason to bounce, there is a huge overhang of sellers. Sell rallies for a very long time to come.
