Buy on dips in China markets post-congress, says strategist
Speaking on CNBC's Squawk Box program, Uwe Parpart, voiced confidence in Chinese companies
Speaking on CNBC’s Squawk Box program, Capital Link International Chief Strategist Uwe Parpart, said on Monday that any dip in Chinese markets after 19th Communist Party Congress would be a good time to buy China stocks.
Voicing confidence in the Chinese economy, Parpart said the country had been deleveraging over the last couple of years and that there had been a good increase in the profitability of major Chinese companies.
Parpart also gave his view that US markets are anticipating a tax cut. High-tax stocks of the kind that will benefit from such a move from the Trump administration were currently driving the market, he observed, adding that a lack of inflation means any tightening of monetary policy currently seems a distant prospect.
Parpart is editor-in-chief of Asia Times.