China funds cut suggested equity allocations as hopes for recovery evaporate: Reuters poll

Chinese fund managers will cut the proportion of their portfolios invested in stocks over the next three months, following July's upward trend, as hopes for a quick economic recovery falter, a Reuters poll shows. "China's recovery is not at all stable. It is still possible that things will get worse, so market sentiment is volatile," a fund manager based in south China said. Chinese fund managers reduced their suggested equity allocation for the next three months to 77.2 percent from 81.9 percent a month earlier, according to a poll of nine China-based fund managers conducted this week.

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