From Investing.com: 2024-08-01 00:08:49

UBS identifies Chinese equities as top pick in Asia, predicting strong single-digit returns by end of 2024 due to improved earnings and policy support. Major internet firms like Alibaba and JD.com expected to see earnings boost from online retail growth and consumer demand recovery in China. Chinese internet giants trading at discounted prices after recent losses. UBS recommends balance of growth and defensive stocks in Chinese markets for resilient earnings and attractive dividends. Beijing’s measures to support economy, especially housing market, offer better outlook for China’s economy, but execution key for recovery. China’s benchmark indexes at five-month lows amid weak economic readings and cautious investor sentiment. UBS advises positioning for slowing growth in medium to long term.



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