Salient to Investors:
Wang Zheng at Jingxi Investment Mgmt said investors have no confidence in long-term growth prospects and the government is doing little to reverse the situation.
The Shanghai Composite trades at 9.5 times estimated earnings for 2012, versus the 17.7 average multiple since 2006.
Chongkyu Juhn at Samsung Securities said China’s stocks will trade in the 2,000-2,400 range by Q1 2013 because of the new leadership’s growth-inducing policies, improvements in macro conditions and recovery in the US.
Read the full article at http://www.bloomberg.com/news/2012-11-27/china-s-stocks-drop-below-2-000-as-trading-value-hits-2008-low.html