The Chinese stock market has hit its lowest level in seven months after the government's clampdown on the country's overheating property market, but it hardly wow gold seems to have eased investor concerns about market's high valuations.
Richard Lacaille, chief investment officer of State Street Global Advisor, told a recent press briefing that he is cautious on China's equity market wow gold because the valuations are more expensive than others.
"China's stocks in terms of valuations are a little bit more expensive although we are confident about the fundamentals of Chinese companies," he wow gold said.
"We are cautious because of the valuation of Chinese stocks compared with some of the other markets in the region and outside."
The US investment advisor had wow gold around $1.9 trillion worth of assets under management by the end of the 2009. Its China A-share portfolio, which invests under the qualified foreign institutional investors' program, focuses on individual stocks rather than industries and picks up wow gold ones that are relatively inexpensive but have strong earnings growth, Lacaille said.
Given the relatively high valuations and volatility in the A-share market, Lacaille said that his company would advise its tactical investors to reduce exposure to the nike shoes Chinese equity market in the short term.
The benchmark world of warcraft gold Shanghai Composite has plunged 7.7 percent this month, the biggest decline since January, as the government stepped up measures to curb property bubbles inflated by the massive lending spree last wow power leveling year.
Lacaille declined to comment directly on China's wow power leveling real estate sector, which has suffered significant losses due to a series of government tightening measures. He said the real estate market is complex and it is difficult challenge to evaluate it and predict bubbles.
The property sector index dvd copy has declined 20 percent this year with the share price of Poly Real Estate Group Co, the second-largest developer by market value, falling 43.6 percent to a 13-month dvd ripper low.
Small-cap stocks have also borne the brunt of the recent decline with valuations soaring so high that analysts feel their profits no longer justify current prices.
But Lacaille said his company still finds small- and medium-sized companies, particularly consumer-oriented ones, more attractive than larger ones in the stock-picking strategy for its buy wow gold A-share investment portfolio.

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