UBS Lifts Chinese Stocks to Overweight in Rare Upgrade Call

-- UBS Group AG raised its recommendation on a key Chinese stock index to overweight in a rare upgrade call this year, underscoring the tentative optimism that the market is finally on the mend.“The largest stocks in the China index have been generally fine on earnings and fundamentals,” strategists including Sunil Tirumalai wrote in a Tuesday note.

The reservations are likely due to caution from misplaced calls during the late 2022 reopening frenzy. Most Wall Street banks had turned bullish back then, only to be wrong-footed as the rally fast lost momentum. Morgan Stanley and UBS were among those to downgrade the nation’s shares to neutral in August 2023 as a selloff extended. Since then, the MSCI gauge lost roughly 20% of its value through the January low.

UBS noted how despite a weak property market, earnings have held up. Liquor maker Kweichow Moutai Co. reported higher-than-expected earnings for 2023. Delivery giant Meituan’s fourth-quarter revenue and net income beat estimates. SACRAMENTO, Calif. — California lawmakers on Monday rejected a proposal aimed at cracking down on how some of the nation's largest utilities spend customers' money. California's investor-owned utilities can't use money from customers to pay for things like advertising their brand or lobbying for legislation. Instead, they’re supposed to use money from private investors to pay for those things. Consumer groups say utilities are finding ways around those rules.

Brasil Últimas Notícias, Brasil Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

UBS Upgrades China Stocks to Overweight, Cuts Taiwan and KoreaUBS Group AG lifted China and Hong Kong stocks to overweight, citing resilient earnings despite the nation’s property and macro worries.
Fonte: BNNBloomberg - 🏆 83. / 50 Consulte Mais informação »

Big 6 tech stocks downgraded by UBS on 'collapsing' earningsUBS Chief Investment US Equity Strategist Jonathan Golub downgraded the 'Big Six' tech stocks - Amazon (AMZN), Apple (AAPL), Alphabet (GOOG, GOOGL), Nvidia ...
Fonte: YahooFinanceCA - 🏆 47. / 63 Consulte Mais informação »

Asia to Open Mixed as Tech Rally Lifts US Stocks: Markets WrapEquities in Asia are poised for a mixed open after a rally in the world’s largest technology companies drove a rebound in US stocks.
Fonte: BNNBloomberg - 🏆 83. / 50 Consulte Mais informação »

Chinese Stocks Advance as Beijing Renews Regulatory Support(Bloomberg) -- Chinese stocks gained Monday as renewed regulatory support from Beijing shielded the market from a broader selloff hitting Asia. Most Read...
Fonte: YahooFinanceCA - 🏆 47. / 63 Consulte Mais informação »

Chinese Investors Snap Up Copper, Gold Stocks to Drive 10% GainsChinese investors are snapping up stocks tied to high-flying metals from copper to gold, aiding an onshore market facing an uphill battle to cement a nascent rebound.
Fonte: BNNBloomberg - 🏆 83. / 50 Consulte Mais informação »

JPMorgan Says Use ‘Cheap Options’ to Bet on Chinese Stocks(Bloomberg) -- Chinese stock investors should consider using “cheap options” as safer ways to seize gains in the country’s potential cyclical upturn...
Fonte: YahooFinanceCA - 🏆 47. / 63 Consulte Mais informação »