Rogers hopes for China collapse to snap up shares

Investment veteran Jim Rogers is banking on a collapse in the Chinese stock market, so he can snap up cheap shares in the region.

Investors have questioned the strength of China's economy after the country released a string of weak data this week signalling a contraction in its manufacturing sector. A manufacturing index reading by HSBC came in at 48.1, down from 49.6 in February. Figures below 50 indicate a contraction. Rogers welcomed the fall, in the hope it would knock some value off Chinese markets and allow him to buy in at lower levels. "I am delighted to see it," he told CNBC. "It will be good for China and it will be good for the world and it will present opportunities for all of us. I hope that the Chi...