Asian asset manager Value Partners praises China's response to Coronavirus

Eugenia Jiménez
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Asian asset manager Value Partners praises China's response to Coronavirus

Hong Kong-based Value Partners says China stocks have started to look ‘healthy' again despite recent disruption caused by the Coronavirus outbreak.

Global stock markets plunged this morning after the implosion of an alliance between OPEC and Russia yet, the Shanghai Stock Exchange (SSE) was the least affected shedding only 3% in value.

Within the last month the SSE has largely recovered from its virus woes by 10%, while the Chinese Yuan has soared above the US Dollar, which is currently trading at CNY 6.95/US$ 1.

Value Partners has also praised China's "rapid" response to contain the virus, "coupled with an optimistic fiscal and monetary stimulus'and reasonable valuations". According to the Asian manager, these are all to thank for the nation's steady recovery.

Investment Director Man Wing Chung said: "It seems as though China's financial markets are beginning to recover from the Coronavirus outbreak and Chinese stocks are performing well compared to their US counterparts. This is largely due to US investors experiencing an initial period of panic which China has already overcome and we're hoping that the worst may be over."

Eugenia Jiménez
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Eugenia Jiménez

Eugenia Jiménez speaks Spanish and is Iberia Correspondent for Investment Europe covering Spain & Portugal, as well as Italy.