, but investors are far less excited about the prospects of a market turnaround:
While the focus in President Xi’s speech will be on whether his emphasis tilts toward economic growth from risk containment, most market watchers see a clear pivot as unlikely, and expect volatility to persist in the coming months. That’s done little to spur optimism among long-term investors, many of whom are opting to stay on the sidelines.“While a technical rebound is possible, there is a lack of drivers for a sustainable rebound as the visibility for an economic recovery is still low,” said Xiadong Bao, a fund manager at Edmond de Rothschild Asset Management, adding that Friday’s rebound in China was a technical one following a similar move in the US stock market.
“Beijing will need to go overboard with stimulative policy action to alter perceptions. This is unlikely to be forthcoming.”Even if the pandemic eventually wanes, investors worry China’s heated rivalry with the US over tech and geopolitical ambitions will continue to cast clouds over its assets.
Source: News Formal (newsformal.com)
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