Risk to avoid China

Wong Kok Hoi from APS turned in 98.3% in 2009, so he definitely knows what he is talking about. He is currently taking big exposures on China, which is the worst-performing stock market in the region this year. Given that China stocks are currently trading at attractive valuations with EPS of over 25% on average, APS says it would be a "risk" to stay out of Chinese equities. Nevertheless, it could take another two quarters before a full-fledged recovery takes place in regional and Chinese equities. His key holdings include Ju Teng and Shenzhen International.