Mark Mobius says the bull market in Chinese stocks is just getting started and he is using the biggest price swings in five years to boost holdings. "We are buying more in China because we think this is the beginning of a longer-term bull run," said Mobius, the executive chairman of Templeton Emerging Markets Group. The 78-year-old money manager, who has been investing in emerging markets for more than four decades, is stepping up his wager on China after correctly predicting four months ago that the mainland's stock rally had further to run. The Shanghai Composite Index's 51 per cent jump from a four-year low in June 2013 is still less than half the average 122 per cent gain during 26 bull markets since 1990. China's rally has accelerated during the past month as the central bank unexpectedly cut interest rates and mainland investors opened new stock accounts at the fastest pace in five years. While the Shanghai gauge posted its biggest one-day tumble since 2009 on Friday last week, Mobius says increased volatility is creating opportunities to buy mispriced shares. The Shanghai Composite has climbed 19 per cent in the past month and surpassed 3,000 points for the first time in three years on December 8. A measure of 10-day price swings reached the highest level since 2009 on Wednesday. Mobius said he had been buying Chinese stocks "across the board", including oil-related companies, on expectations that crude prices will recover from five-year lows. PetroChina, the nation's biggest energy company, has climbed 21 per cent in Shanghai trading during the past month. Trading in mainland equities surged to record highs this week. The rally is irrational, said Ken Peng, a strategist at Citigroup's private bank in Hong Kong, last week. Andy Xie, a former World Bank economist, called the advance a bubble driven by leveraged traders. State media and the China Securities Regulatory Commission have been warning on the risks for investors. While Chinese shares will experience "corrections along the way", they will not enter a bear market soon, said Mobius.