Warren Buffett said Wednesday that investors should be “cautious” about Chinese stocks as prices soar.
“We never buy stocks when we see prices soaring,” Buffett said in Dalian, China, where he was visiting a subsidiary of Berkshire Hathaway. “We buy stocks because we’re confident of the company’s growth. People should be cautious when they see prices rising.”
The mainland Chinese CSI 300 stock index has surged more than 170 percent this year, the biggest increase among 91 key global indexes tracked by Bloomberg. Berkshire has sold stock in PetroChina, the second-largest company by market value.
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