China Stocks are a buy on reopening, top money managers say | Business

They predict that Chinese equities will rally as strict coronavirus measures are relaxed.For more stories, go to the The world's top fund managers are mostly bullish on Chinese stocks for 2023, predicting that equities will continue to rally as strict coronavirus measures are relaxed.

"It does seem like there is an evolution from China in terms of their Covid approach," said Ben Powell, APAC chief investment strategist, BlackRock Investment Institute. He sees upside potential for earnings in China and downside potential in the US and Europe. Investors in the survey also see China's stocks as attractively valued. The MSCI China Index is trading at 11 times forward earnings, below the average level for the past five years. And while the 12-month earnings forecast for the MSCI China Index has risen in the past month, it's still well below pre-pandemic levels, Bloomberg data shows.The bullishness on China was echoed this week by JPMorgan Chase & Co.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business Maverick: Chinese property tycoon to sell stake as share sales ramp upThe billionaire owner of Country Garden Holdings Co is selling a stake in a unit to raise about $650-million amid a flurry of share sales by cash-strapped Chinese developers. Seems the Chinese economy is more bedraggled kitten than roaring tiger.
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: Oil rebounds as key pipeline remains shut and China eases curbsOil rebounded as a key North American pipeline remained shut and on the potential boost to demand from the easing of virus curbs in China.
Source: dailymaverick - 🏆 3. / 84 Read more »

International Finance: Dollar up, stocks down as traders eye rate paths: markets wrapThe dollar advanced and stocks extended declines in Asia at the start of a pivotal week for markets, with interest rate decisions due from the Federal Reserve, the European Central Bank and a host of their peers.
Source: dailymaverick - 🏆 3. / 84 Read more »

Global stocks fall ahead of key inflation data, interest rates decisionsThe Fed on Wednesday, and the ECB and Bank of England on Thursday are expected to all raise rates by 50 basis points, a slowing down from the 75 basis point hikes seen in recent meetings
Source: BDliveSA - 🏆 12. / 63 Read more »