David Fuller's view

Most of China’s stock markets are now oversold and competitively valued, not least the leading shares listed in Hong Kong.  Moreover, in an effort to support the markets and revive investor confidence, China’s government is taking bold initiatives with monetary policy, plus some unusual steps to reduce a self-feeding, panicky liquidation of leveraged positions.  Inevitably, and perhaps enviously, some of these measures are seen as controversial in the West but it seldom pays to fight government policy. 

I left an order last night to purchase some more of the JPMorgan Chinese Investment Trust (JMC LN).  This was bought this morning at 169.0625p.

(See also Wednesday’s comments on China.)