LONDON (Reuters) -Asset manager PineBridge Investments’ multi asset team has sharply raised its China equity exposure and rival Man Group expects to expand its presence in the country with expectations that strict COVID rules will be eased.
“Europe is going into recession now, the U.S., maybe, sometime next year, but China’s already had a recession ...
The next leg is up for Chinese equities, it’s a question of when, and the main driver would be the reopening,” Redha said.
China’s economy rebounded faster than anticipated in the third quarter though the revival was challenged by COVID-19 curbs, a prolonged property slump and global recession risks.
However, a foreign ministry spokesman later said he was not aware of the report, calling China’s COVID policies consistent and clear.