Sunil Garg, Managing Director, Chief Investment Officer at Lighthouse Canton shares his expert views on the Chinese markets in a recent interaction with Tanvir Gill on CNBC Street Signs Asia.
Sunil highlighted the e-commerce sector, suggesting that the recent PDD stock decline might be an overreaction and potentially a buying opportunity, emphasizing the crucial role of scale in this space. The discussion then shifted to Chinese banks, where Sunil expressed caution. He noted that low book multiples and high dividend yields in the banking sector reflect a lack of market confidence in balance sheet strength, drawing parallels to similar situations with Korean and Indian state-owned banks.
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