The ‘bubble’ narrative on China that’s been present in mainstream media seems to be shifting? The CSI-300 gained 5.2% on Friday (after an 8 day holiday including Mooncakes and a big parade). Mainland markets are notoriously volatile, so locals often tell me to take large movements with a large grain of salt. Still, 5%. Mooncake coma must inspire confidence… From Bloomberg:

“China is where we are putting most of our money out of the BRICs,” Peter Schiff, president and chief global strategist for Darien, Connecticut-based Euro Pacific Capital, whose clients have more than $2 billion in assets, said in a telephone interview. “Valuations are certainly better there. That is where the growth and profits are going to be.”

… Shenyin & Wanguo said it estimates the Shanghai Composite will rise as much 22 percent in the fourth quarter, compared with estimated gains of as much as 30 percent at GF Securities and 44 percent at Galaxy.

“We see the Shanghai Composite setting a new high for the year in the fourth quarter as signs increase that China’s economic rebound is accelerating,” said Teng Tai, a China Galaxy Securities strategist in Beijing. He predicted a “very strong rebound” in earnings.