Hedge fund manager Dan Niles says he's buying Chinese stocks again after government crackdown

An investor watches the electronic board at a stock exchange hall on November 26, 2018 in Nanjing, Jiangsu Province of China.
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Hedge fund manager Dan Niles told CNBC on Friday he started buying a group of Chinese stocks this week, believing the cohort has fallen to attractive levels after a sell-off driven by Beijing's heightened regulatory scrutiny.