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China property stocks are ‘very cheap,’ Liang says

Posted on 14 April 2010

From Businessweek.com: China’s property stocks, the worst performing group this year, are “very cheap” and may halt their slide as inflation accelerates and expectations build for yuan gains, according to Foundation Asset Management (HK) Ltd.

“Some time down the road, they have to revalue the renminbi upwards” to curb inflation, said Michael Liang, chief investment officer at Foundation Asset, which oversees $120 million, in a Bloomberg Television interview in Hong Kong…………………………………Full Article: Source

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