UBS warns that it's not time to bottom fish in the Chinese markets yet

Investors looking for bargains in the Chinese market should beware as stocks there could see further losses, warns UBS Global Wealth Management's Kelvin Tay. "I think there's actually more room for this to actually run," Tay, regional chief investment officer at the firm, told CNBC's " [Squawk Box Asia](//www.cnbc.com/asia-squawk-box/) " on Wednesday. "I certainly don't think this is the bottom." Following a rout that started late last week and accelerated as the [Hang Seng index](//www.cnbc.com/quotes/.HSI) in Hong Kong plunged more than 8% in just two days, [China's markets are now among the worst-performing in Asia-Pacific year to date](//www.cnbc.com/2021/07/28/investing-china-stocks-among-asias-worst-performing-amid-regulatory-scrutiny.html) . Tay…