In its latest Asia Strategy Views, Goldman Sachs said investors should expect “further upside in the [China] ‘growth recovery’ trade”.
“Investors are understandably concerned about chasing a move this large, especially given memories of China’s poor overall performance during the past two years,” according to the strategists, led by Timothy Moe.Our view is that the market still has further room to appreciate, and we maintain our overweight stance.
“Global investors should sell Chinese assets on strength this year and diversify into other emerging markets. American investors should limit China exposure.” BCA recommends betting that China’s currency will fall against the US dollar.“As we have often discussed, China policy can be described as having five dimensions: the normal monetary and fiscal policies, and the China-specific aspects of property, regulation, and COVID-related policies.
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