Over the past three months, FXI declined 20.4%, GXC dropped 17.6% and MCHI decreased 19.2%.
“You have to take quite a nuanced view on China, I think it is important to emphasize there are different parts of China that are trading at very different multiples,” Oppenheimer said on CNBC. “The smaller cap stocks at the A-share market are still trading at high 20s and that is very expensive by historic standards, whereas if you look at the blue-chip companies and those listed on Hong Kong, they tend to trade at multiples of 9.5/10 times and are relatively cheap by historic standards.”
iShares China Large-Cap ETF
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Max Chen contributed to this article.