JPMorgan predicts brief pause in Chinese stock rally, expects improved earnings in 2024.

From CNBC: 2024-05-24 03:33:24

At the JPMorgan Global China summit, Liu predicts a brief pause in Chinese stock rally but anticipates improved earnings in 2024. China’s CSI300 index hits eight-month high and is up 4.97% this year. Mainland China’s stock markets have been underperforming, with CSI300 being third worst in Asia last year. Hang Seng index in Hong Kong saw its fourth consecutive year of decline in 2023.
Chinese authorities implement measures to boost country’s equities, aimed at increasing liquidity and warning against malpractices. New chairman of CSRC introduces supply side reforms, tightening rules for listing and delisting companies and issuing warnings to firms lacking dividend policies. Real estate sector in China is at an “inflection point,” with JPMorgan optimistic about the sector. Authorities pledge 300 billion yuan support for state-owned enterprises to purchase unsold apartments.



Read more at CNBC: JPMorgan is ‘positive’ on China stocks and ‘constructive’ on its property sector