Fidelity's Ma adds to risk positions after China sell-off

Fidelity manager sees opportunities within Chinese retail sector after correction.

Fidelity’s China Consumer fund manager Raymond Ma is set to move less defensive as valuations look more attractive after the September sell-off. Ma said the falls suffered by Chinese equities in the past week in particular have made sectors such as consumer discretionary look more attractive, in part due to the resilience of Chinese retail sales figures. Hong Kong’s Hang Seng fell by more than 9% last week, and by 1.5% on Monday, as investors took flight from equities across the globe. Ma said it is difficult to predict the timing or nature of a resolution to the eurozone crisis, b...