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BlackRock cut Chinese equities to neutral from overweight - China property sector a drag

Started by forex4you, Sep 19, 2023, 07:17 am

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BlackRock cut Chinese equities to neutral from overweight - China property sector a drag

Via the latest note from BlackRock Investment Institute, which covers a wise scope, this on China and Chinese shares. I've bolded the more encouraging bit:

  • We ... cut emerging market (EM) stocks, including Chinese equities, to neutral from overweight as China's
    property sector remains a drag even with growth showing signs of stabilizing

That's about for the good China news in the note though. More:

  • China's restart is losing steam and we don't see valuations compelling
    enough to turn overweight
  • see only limited policy
    stimulus from China

In the screenshot the black dot is the 'previous' view:

Also, this:

  • Geopolitical fragmentation, like the strategic competition between the U.S. and China, is set to rewire global supply
    chains

--


The BlackRock Investment Institute is an arm of U.S.-based investment firm BlackRock that provides proprietary investment research.



                This article was written by Eamonn Sheridan at www.forexlive.com.

Source: BlackRock cut Chinese equities to neutral from overweight - China property sector a drag

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