Slower growth in China is affecting everything from smartphone sales to oil exports, and companies and countries in its orbit are beginning to feel the crunch. Photo Composite: Crystal TaiMany investors say Chinese stocks are inexpensive, despite this year’s surge. But the stocks many active fund managers prefer—those linked to the Chinese consumer or the technology sector—aren’t quite so appealing. What’s HappeningThe broad Chinese market trades at just 14 times forecast earnings for the next 12 months, according to a FactSet index of more than 3,000 stocks. That is roughly 17% below its 10-year average of 16.8 times, despite a blistering rally in Chinese stocks over the...

Source: Wall Street Journal March 01, 2019 05:15 UTC