Get used to slowing China growth, J.P. Morgan says in noting disappointing GDP data "underscore...

|By:, SA News Editor
Get used to slowing China growth, J.P. Morgan says in noting disappointing GDP data "underscore the challenge facing an economy burdened with overcapacity.” While Chinese stocks are cheap at 9.7x 2013 earnings, the weak data suggests earnings estimates might be too high. The firm thinks investors in China should stick with defensive stocks such as Sinopec (SNP) and China Unicom (CHU).