(1888PressRelease)
December 05, 2007 - It seems that Ovetii have not been deterred by suggestions from the likes of Warren Buffet, Alan Greenspan and Li Ka-Shing that China's world-beating rally may be a bubble ready to burst.
Analysts at Ovetii are said to be closely monitoring the stock of the Beijing-based company, China Finance Online Co. – currently the best-performing foreign company listed in the U.S. Their ADRs (certificates that represent shares of foreign companies) have climbed more than six fold this year on the Bank of New York ADR index, outperforming U.S. - listed PetroChina Co., BHP Billiton Ltd. and Baidu.com Ltd.
In addition, China's CSI 300 index has surged 148 percent this year, the world's best return.
Ovetii are one of a number of institutions who apparently believe that the strong economic growth in the region will continue to boost the equity markets.
An unconfirmed source at Ovetii has said that the firm was optimistic on the outlook for China.
A senior analyst from Ovetii apparently stated that as people in China have more money, more and more of them will begin to put their money in the stock market seeking higher returns.
China's economy has grown more than 11 percent for three consecutive quarters.
