Goldman Sachs upgrades China stocks, predicts up to 18% upside potential

From Google: 2024-10-07 10:07:46

Goldman Sachs has upgraded China stocks, citing the country’s ongoing recovery. The investment bank predicts as much as an 18% upside potential for Chinese equities. This is based on China’s recent economic data, including strong export numbers and a pickup in manufacturing activity.

Goldman Sachs believes that China’s strong economic rebound will continue to drive stock market performance. The bank has raised its forecast for the MSCI China Index to 95, seeing a potential gain of 18% from current levels. This upgrade comes as China’s economy shows signs of recovery, with exports and manufacturing activity picking up.

China has seen a resurgence in economic activity following the COVID-19 pandemic, prompting Goldman Sachs to upgrade its outlook on Chinese stocks. The investment bank believes that there is significant upside potential for Chinese equities, with the MSCI China Index potentially rising by as much as 18% from current levels.

Goldman Sachs’ bullish stance on China stocks is based on the country’s strong economic recovery. The bank has raised its forecast for the MSCI China Index to 95, up from its previous estimate of 80. This upgrade comes amid positive economic data, including robust export numbers and a rebound in manufacturing activity in China.



Read more at Google: Goldman Sachs upgrades China stocks, sees as much as 18% upside from here – CNBC