Does MM like any Chinese Banks?
Hi James and Team, Thankyou for your regular updates. Chinese equities have caught my eye recently as they look relatively undervalued compared to their historical average. In particular the Chinese banking sector, which is trading around 0.5x price to book-value. I was wondering if you had any insight into the growth prospects of Chinese Banks and had a preference in the industry. I had signalled CCB (939 HK) and ICBC (1398 HK) as two of relative interest. I was also hoping you could provide some ideas as the best way to invest in the equities locally i.e., a local ETF which has a large concertation to the sector or if its best to just invest directly. Cheers, Jack
