Goldman Sachs expects China stocks to make first annual gain in 4 years in 2024
Publishing timestamp: 2023-11-21 19:59:18
Summary
Goldman Sachs projects that MSCI China and CSI 300 will rise in 2024, underpinned by estimated earnings growth and moderate valuation gains. They prefer A-shares over H-shares due to lower sensitivity to geopolitical and liquidity factors. The food and beverage sector and technology hardware sector are upgraded, while Chinese consumer services, insurance, and banks are downgraded. The Chinese housing market is expected to continue to be a drag on economic growth. Goldman Sachs retains an overweight rating for onshore Chinese stock markets.
Sentiment: MIXED
Keywords: china, goldman sachs group inc, environment, business news, goldman sachs bdc inc, economic events, asia economy,