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- Bank of America Corp.: the rise in China's stock market will be short-lived
Bank of America Corp.: the rise in China's stock market will be short-lived
The rise in China's stock market will be short-lived as the government's intervention is too expensive to be continued for a long time, according to Bank of America Corp.
"As soon as people sense the government is withdrawing from direct intervention, there will be lots of investors starting to dump stocks again," China equity strategist at Bank of America in Singapore, David Cui, said.
He added that the Shanghai Composite Index have to fall another 35% before shares will become attractive.
Cui expects that the government will end its direct market purchases within the next month or two.
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