Citi says emerging markets have no bubbles, particularly bullish on CCB

Asia-Pacific equities were generally well yesterday. UBS said equities in the Asia-Pacific region remained a "winning market" as monetary policy remained loose in the region, liquidity was plentiful and inflation had not seen any signs of warming. Citigroup noted that the net inflow of emerging market funds was much larger and more acute than in the past 10 months of net outflows from the world's developed market funds.　　Despite market concerns about bubbles in emerging markets, Citi believes that the bubble is clearly premature in terms of current valuations and other data. Optimistic about the bank of ICBC Citic Bank, Goldman Sachs issued a report a day ago to increase the "six line" target price, Citigroup also issued a report yesterday, referring to the continued improvement in dividend spreads for Chinese banks and the prospects for wealth management business, I believe that the profit and loss statement of major Chinese banks this year met with improvement, and particularly bullish on CCB (0939), ICBC (1398) and Citic Bank (0998) and so on.