CLSA tips China, HK stock markets to rally 20% in 2011

Stock markets in China and Hong Kong will rally more than 20% next year on the back of Beijing’s ambitious social housing plan and expected stabilisation in money supply following action to curb inflation, forecasts brokerage CLSA. Only this month, China’s Ministry of Housing and Urban-Rural Development set a target for social housing of 10 million units by the end of next year, which would represent a 72% increase from the 5.8 million units at present. “The biggest positive theme we …