Value Partners rides China, Taiwan rally


Value Partners' flagship Classic fund gained 8.2% in March, taking the fund back into positive territory for the year so far at 4.51%. Value Partners' chairman and chief investment officer Cheah Cheng Hye explains that March's performance was attributable to the surge of China-related shares as well as Taiwan's broad market rally - the fund had 10% net exposure to Taiwan as of 25 March. Offsetting these highs were the impact of sharp drops by HSBC (down 12.7%) and China Mobile (down 4.8%) on the Hang Seng Index.

Cheah expects that China will pass the stress test in 2009,