David Fuller's view

China should reward patient investors. 

The Hong Kong Hang Seng Index (HSI) has been gradually ranging higher since the October 2011 low.  It now looks capable of successfully clearing the psychological 24,000 level and a very clear downward dynamic would be required to delay this prospect beyond the near term.  The HSI currently sells at an historic p/e of 11.10 and yields 3.79, according to Bloomberg.

China’s Shanghai A-Shares Index (SHASHR) (weekly & daily) has been a serial underperformer but now shows saucering characteristics, and upward dynamics have been increasing relative to downward dynamics since mid-March.  It has an historic p/e of 10.07 and yields 3.28%, according to Bloomberg.