Don't bottom fish, warns Female Buffett

China's Female Warren Buffett has warned against bottom fishing in Hong Kong's stock market, saying the worst is yet to come.

Atlantis Investments chairwoman Liu Yang, who's frequently compared to the legendary US investor for her business acumen, made her prediction at an event held by the Unity Group.

She said funds have not yet returned to the market and it's best not to hunt for bargains amid current uncertainties and geopolitical risks.

A highly successful fund manager who has worked for over two decades in Hong Kong, Liu said "numerous uncertainties" led her to adopt a highly conservative approach, adding that it would be prudent to safeguard wealth and hold onto cash rather than bet on any particular sector or stock.

The Hong Kong-based energy service company Unity is probably one of the few firms into which Liu has invested these days.

Unity signed a memorandum of understanding with Abu-Dhabi-based Lead, a subsidiary of Ethmar International Holding, under which a joint venture will be formed to initially retrofit 700 buildings in Abu Dhabi with energy-saving and solar energy equipment.

Unity chairman Mansfield Wong said the venture was able to come to fruition in only a few months, thanks to the Hong Kong government's push for Middle East investment.

EIH energy division chief executive Moustafa Rashad said the firm was confident of success as Unity helped save 30-40 percent energy in an iconic residential building there.

Liu, meanwhile, has invested in Unity's convertible bonds, which offer an 8 percent interest rate.