Chinese stock recovery faces US Fed and oil pressures in September, says top fund manager

Chinese stocks are likely to trade sideways through September, as resilient earnings growth is weighed down by concerns over potential monetary policy tightening in the United States, according to a recent strategy report by China Asset Management, the country’s second-largest mutual fund firm. Mainland-listed companies posted double-digit profit growth in the first half of the year, providing a cushion that is expected to keep a floor under stock prices. But a hawkish tone from the US Federal..