Some foreign investors returned to China's battered stock and bond markets in May as Beijing stepped up efforts to stimulate the economy following months of COVID lockdowns and heightened global political tensions.
Mark Haefele, chief investment officer at UBS Global Wealth Management, said China is among his preferred markets in Asia due to the recent easing in COVID-19 restrictions, government stimulus measures and lower stock valuations. Fears of possible Western sanctions against China, triggered by Russia's military operations in Ukraine, have also receded. Such worries, caused by Beijing's friendship with Moscow, contributed to"unprecedented" capital outflows from China in the first quarter, according to IIF.According to Refinitiv data, Chinese companies' earnings are estimated to grow 12.42 per cent in 2022 despite fallout from its lockdowns, higher than Asia's average growth of 10.9 per cent.
Source: Financial Digest (financialdigest.net)
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