China’s main Hong Kong stock market index — the Hang Seng — has nearly halved on net selling by foreign investors since its post-COVID peak. The index is trading at levels last seen 25 years ago and at valuation lows reminiscent of the 1997 Asian Financial Crisis. In this article, Foord Singapore portfolio manager JC XUE counters the ‘China is not investible’ argument and looks at long-term opportunities for patient investors.

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