Tags: Jim Rogers | China | Russian | stocks

Jim Rogers Bullish on Chinese, Russian Stocks

By    |   Tuesday, 13 May 2014 03:10 PM

Ace investor Jim Rogers, chairman of Rogers Holdings, is enthusiastic about Chinese and Russian stocks.

In China he's buying small amounts of stock for the first time since 2008. "China is the next great country in the world," he tells Yahoo. "They still have a big debt problem, which worries me a lot, but I have started buying."

Rogers said he was encouraged by the government's decision to inject money into various sectors of the economy during the next 20 years.

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"If they're going to put a lot of money into some sectors of the Chinese economy, I am too," he explains. "They said they will open the economy more, especially finance. So I started putting a little more into financial companies."

Rogers also is impressed by the government's decision to let the market decide what to do in sectors like healthcare. "Contrast that to the U.S., where they say the government is smarter than the market."

China's willingness to let companies go bankrupt also is an encouraging sign, he adds.

Meanwhile, Rogers says he bought Russian stocks during the invasion of Crimea and would consider purchasing more given that the stocks have suffered from Ukraine's turmoil.

The Micex Index of Russian stocks has dropped 8 percent since Feb. 17.

As for China's stock market, the Shanghai Composite Index posted its biggest gain in seven weeks Monday, after the government indicated it may take measures to boost stocks.

"The announcement is good for the market in the medium and long term and raises the government’s attention to the stock market to the state level," Wu Kan, a fund manager at Shanghai-based Dragon Life, tells Bloomberg. "This will boost the confidence of the market."

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Ace investor Jim Rogers, chairman of Rogers Holdings, is enthusiastic about Chinese and Russian stocks.
Jim Rogers, China, Russian, stocks
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2014-10-13
Tuesday, 13 May 2014 03:10 PM
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