Mark Mobius Likes Chinese Equities

Mark Mobius recently said he continues to like Chinese equities, and even if the renminbi goes up some, he doesn't expect it to shoot up quickly, so it shouldn't have a negative impact on Chinese stocks.

Part of the reason is the $800 billion the Chinese government holds in US Treasuries.

"A sharp movement in the renminbi's value in either direction could potentially hurt either party, foreign or Chinese. Domestically, I think the Chinese authorities realise that," Mobius says.

He doesn't think this will be allowed to happen, so maintains his bullish outlook for Chinese stocks.