Clocktower chief strategist says Chinese stocks will likely rise 10%

Clocktower chief strategist says Chinese stocks will likely rise 10%

An investor views a stock information board at a brokerage office in Beijing, China.

Jason Lee | AP

BEIJING — Chinese stocks are likely to rise at least 10% in the coming days as authorities signal coordinated support efforts, said Marko Babic, partner and chief strategist at Clocktower Group.

Babic specifically pointed to a Bloomberg report on Tuesday that Chinese President Xi Jinping will receive a briefing from financial regulators about the recent stock market sell-off. The report, citing sources, said the meeting could have taken place on Tuesday.

(Tags for translation)Stock markets

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