Mutual funds lower stock outlook

SHANGHAI - Chinese mutual funds cut their recommended exposure to stocks to the lowest level in 14 months, suggesting higher bond and cash holdings as growing economic uncertainty dampens risk taking, the latest monthly Reuters fund poll showed.

The average suggested equity weighting over the next three months fell to 79.3 percent from July's 84.5 percent, according to the poll of nine China-based fund managers conducted this week.

The recommended weightings for bonds were raised to 7.1 percent from 6.3 percent in July. Recommended weightings for cash were raised to 13.6 percent from 9.3 percent in July.