Some Chinese Stocks Are a Real Bargain Now. Alibaba Is One of Them
Value managers routinely venture into markets that others are fleeing, and right now that makes China a natural destination.Veteran bargain hunters admit China's economic growth prospects look uncertain, and that policy makers may continue to stumble. But they calculate that Beijing will keep trying to stabilize the economy -- enough to create a tactical opportunity in pockets of the market.Investors have fled China as the recovery following three years of strict Covid restrictions, erratic policy steps and crackdown on its property market along with national champions like Internet giant Alibaba Group Holding rattled confidence -- among households, businesses and investors.With the U.S. and China entering an even more tense relationship, many money managers have reined in their allocations to China and rolled out emerging markets ex-China funds for skittish clients.While Mallari-D'Auria sees some signs of stabilization in property prices from policy makers' gradual efforts in recent
