"Travel and leisure stocks have already priced in a quite optimistic recovery, and become pretty crowded trades. We need to be careful here," said Qi Wang, CEO of MegaTrust Investment , who cautions the road ahead might be bumpy.
Another money manager, Li Xiaohua, of Harfor Fund Management Co, said he had boosted exposure to tourism stocks over the past few months, betting on a "reversal of bad fortunes", but thinks the game is now entering a new phase. Yang Delong, chief economist at First Seafront Fund Management expects China's economic growth to exceed 5% this year as COVID curbs are scrapped. That compares with consensus expectations for about 3% growth in 2022.
She advised against chasing the high-flying real estate and tourism stocks, as their "fundamentals remain a question mark."
how about a reality check for Reuters. what you're doing here is market manipulation and the author belongs in prison.
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