LONDON : Morgan Stanley has bumped up its China growth, stock market and yuan forecasts again, becoming the latest Wall Street heavyweight to do so as the country rapidly dismantles two years of tight COVID-19 restrictions.
For the stock market, which is already up 45 per cent up since late October, they likened the current situation to that in late 2008 and early 2009 after the global financial crisis when many international investors had sold down their positions and were left underexposed to Chinese markets. "Not only does that mean that MSCI China absolute earnings per share growth and return on equity is set to surge, but that an even more dramatic shift in relative terms is now in sight," the bank's analysts said.
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