Eoin Treacy's view

Here is a link to the full report.

Following the correction on Chinese stock markets over the last month, valuations have improved considerably with the Hang Seng, China Enterprises Index and Mainland 25 all now trading back on single digit multiples. 

The Hang Seng in particular pulled back sharply today, in a potentially climactic decline, to test the region of the 200-day MA, the upper side of the underlying trading range and the psychological 25,000 level. A clear upward dynamic would confirm near-term support in this area. 

Please note: All data quoted above originates in Bloomberg. We realise that some of the data displayed is inaccurate for some indices, particularly where ADRs are included. However, I have endeavoured to remove the most problematic indices. We publish these tables because the data is generally accurate and going forward we will continue to weed-out the less reliable data sets as subscribers highlight them for us. The P/Es quoted by Bloomberg are exclusively based on operating earnings.)