FAP, May 10 (UBS)-- Wang Zonghao, head of China equity strategy research at UBS, said that as of the end of March, international institutional investors' positions in Chinese stocks have decreased by 0.6 percentage points relative to the benchmark, and it is expected that the low level of international investors is close to the low of October last year. In addition, state-owned enterprise stocks have performed well so far this year, up an average of 12%, while the market is up 0.5%. The rise in share prices seems to be mainly driven by domestic capital flows, and the best-performing state-owned enterprises usually have a lower proportion of foreign holdings. UBS said it was still bullish on the Chinese stock market, while the MSCI China index was lower than the historical average standard deviation, and the risk and return of the Chinese stock market was attractive. (reporter Cheng Mengqi)