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.

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