China's red-hot Shenzhen stocks are the next "short of a lifetime", closely watched investor Bill Gross announced late Wednesday, however many strategists beg to differ.
"German Bund 'short-of-a-lifetime' update: it's happening. Up next: China Shenzhen index. Not just yet ..." Gross – the co-founder of PIMCO who now oversees the $1.5 billion Janus Global Unconstrained Bond Fund – tweeted out via Janus Capital's official account late Wednesday.
His tweet drew swift reaction from market watchers in the region, who mostly disagreed with his call.
"[Gross] is not right," Hao Hong, chief strategist at Bank of Communications International in Hong Kong told CNBC on Thursday. "The Chinese market has gone up substantially this year but just because it's risen too high, too fast doesn't mean it has to crash down."