Goldman Sachs, UBS, BNP turn more positive on Chinese stocks
Investment banks including Goldman Sachs, UBS and BNP have become more positive on Chinese stocks, with foreign selling having subsided. But the property crisis, deflationary risks and tepid consumer demand mean global investors are yet to go all ‘all in’.
- Goldman analysts say A share valuations may rise by 40 per cent, while UBS raised its rating on the MSCI China Index and Hong Kong stocks to overweight
- DBS Bank says valuation gap between Hong Kong stocks and US stocks has reached the widest on record