China's markets bounced back strongly last week following the release of a Chinese state media report signaling support for Chinese stocks.
Any market that falls around 30% in 10 days due to policy and geopolitical concerns — and then bounces back after the announcement of government support, is driven by policy and not the value or performance of its companies, said Martin, who is managing director at IMA Asia.'Tough road ahead'
Meanwhile, Michael Yoshikami from Destination Wealth Management said it will be a "tough road ahead" for Chinese firms as the regulatory environment remains uncertain. "Just because they say they're going to have some sort of foundation built for Chinese stocks, I still think the Chinese government wants things stabilized," said Yoshikami, founder and CEO at the firm. "It's still going to be pretty active, and I think investors should be pretty cautious of the China sector right now."."We expect China's policymakers to be proactive in supporting growth from here.
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