Analyst: It's finally time to buy Chinese stocks

Since February this year, with the continued decline of China's concept stocks, more than $1 trillion in market value has been evaporated. Despite the rise on Thursday, the Nasdaq Golden Dragon Index is still down about 42% this year, down about 57% from its peak in February.

On Wednesday, local time, Kelvin Tay of UBS Global Wealth Management once stated that China’s stock market looks generally undervalued. From a valuation perspective, Chinese stocks are “very, very attractive.” Matt Maley, chief market strategist at Miller Tabak + Co., believes that the decline in Chinese concept stocks earlier this week may be partly due to some institutions selling the worst performing stocks at the end of the year, which means The selling pressure of concept stocks in the new year may be reduced. However, he remains cautious about the potential regulatory uncertainty in the future. "Although the new year should relieve some of the selling pressure on these stocks, US investors still face too much uncertainty to repurchase these stocks in a meaningful way," he said. $NIO Inc(NIO.US)$ $Alibaba(BABA.US)$ $Tencent(TCEHY.US)$ $Baidu(BIDU.US)$ $Xiaomi Corp. Unsponsored ADR Class B(XIACY.US)$