David Tepper is uber bullish on China: It’s a ‘buy everything moment’

David Tepper, founder of Appaloosa Management, said he is going “all-in on China” after announcements of huge stimulus measures to boost the country’s economy.

In a CNBC interview, the billionaire hedge-fund manager said he is bullish on all things China (NASDAQ:MCHI), (FXI), (GXC).

This comes after the CSI 300 China A-shares ETF soared 11% this week, and it is up 14.86% in the past five days alone.

Also, Hong Kong’s Hang Seng (HSI) is up more than 11.80% in the past five days.

The SHANGHAI Index (SHCOMP) is also up 9.65% in the past five days.

Tepper also said that major Chinese names offer “single digit price-to-earnings multiples with double-digit growth.”

“I thought that what the Fed did last week (its 50 basis points cut) would lead to China easing, and I didn’t know that they were going to bring out the big guns like they did,” Tepper said.

China has recently cut key interest rates, announced liquidity support for its stock market, cut bank reserve requirements, and encouraged company stock buybacks.

“They exceeded expectations, and [People’s Bank of China governor Pan Gongsheng] promised to do more and more and more, and that’s very strange language, especially for any central banker, but especially over there.”

He recommended stock buybacks if the Chinese currency (USD:CNY) proves strong, and said he does not care about the proposed U.S. tariffs on China imported goods, since it is the internal stimulus that is benefiting the Chinese markets.

“You can’t be short the U.S.; you can’t be short anything in Asia.”

Top Seeking Alpha quant-rated Chinese stocks:

• BYD Company Limited (OTCPK:BYDDF), (OTCPK:BYDDY) – Quant rating: 4.76, 3.43
• Atour Lifestyle Holdings Limited (ATAT) – Quant rating: 4.23
• Full Truck Alliance Co. (YMM) – Quant rating: 3.68
• Xiaomi Corporation (OTCPK:XIACY) – Quant rating: 3.29
• RLX Technology Inc. (RLX) – Quant rating: 2.87
• New Oriental Education & Technology Group Inc. (EDU) – Quant rating: 2.66
• Kanzhun Limited (BZ) – Quant rating: 2.62
• AAC Technologies Holdings Inc. (OTCPK:AACAF), (OTCPK:AACAY) – [Not rated]