Managers call time on China's runaway A-shares...

Fund managers have been taking profits on Chinese A-shares after a strong run, focusing instead on H-shares to power the next leg of growth.

A-shares received a major boost from the much-hyped Shanghai-Hong Kong Stock Connect programme, which was introduced in November 2014 as a way to link up the Hong Kong and mainland Chinese equity markets. Last month, fresh changes were made to boost southbound flows by allowing Chinese mutual funds to access H-shares. Both Shanghai-listed A-shares and Hong Kong-listed H-shares have performed well year to date, with the MSCI China A index up 38% and the MSCI H index up 25%. However, last week Chinese stocks fell to a four-month low as hopes receded that China would cut interest rates t...