Experts: China lacks earnings to support stock prices

02/18/2009 | Bloomberg

HSBC and CLSA Asia-Pacific Markets said in separate reports that the earnings prospects of China's public companies are not strong enough to support the soaring prices of China's yuan-denominated shares. Because the rally is not backed by fundamentals, it might falter, HSBC said. "We doubt the sustainability," said CLSA, describing shares as expensive.

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