Released on: August 31, 2008, 3:07 am

Press Release Author: MIchael Brown

Industry: Financial

Press Release Summary: Amidst a slue of better-than-expected earnings from
Chinese-traded stocks, Portway Capital believe the market is finally starting to
recover.

Press Release Body: The CSI 300 Index, which tracks yuan-denominated A shares listed
on China\'s two exchanges, is down 56 percent this year, the most among 89 major
benchmark indexes, because of concern that measures to temper inflation will damp
profit and economic growth. But sources at Bordeaux-based Portway Capital are said
to believe that the downward spiral has now bottomed out.
Following a spate of earnings which significantly exceeding analysts estimates and
projections alike, the CSI 300 recently rose 10.57, or 0.5 percent, ending a
five-day, 8.2 percent loss. The measure is now valued at 17 times earnings, the
lowest since March 2006.
This positive news, coupled with the recent u-turn in policy from one of
inflation-control to that of promoting growth, has apparently caught the attention
of fund bosses at Portway, who are believed to have seriously limited their exposure
to Chinese-traded stocks in recent, turbulent times.
A source close to Portway Capital reportedly confirmed the groups intention to take
a long position on some of the benchmark stocks, following the recent positive spin.
Whilst refusing to be drawn on specifics, the source, who wished to remain
anonymous, claimed that the target equities had been identified and portfolio bosses
were already executing on the new strategy - chosing not to wait until all earnings
has been announced.
A spokesman for Portway Capital declined the opportunity to comment on these rumors,
whilst also rejecting the chance to distance the firm from the news.


Web Site: http://www.portwaycapital.com

Contact Details: Michael Brown
news@pr-newsnow.info