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☆ Asia-Pacific markets set to trade mixed as investors eye Fed and RBA rate decision
▼ + stars: | 2024-11-05 | by ( Lee Ying Shan | ) www.cnbc.com time to read: 1 min

Asia-Pacific markets are set to trade mixed on Tuesday as investors prepared for the U.S. presidential election and a possible interest rate cut from the Federal Reserve later this week. Hong Kong's Hang Seng index futures were at 20,658, slightly higher than the HSI's last close of 20,567.52. Australia's S&P/ASX 200 slid 0.32% as traders keep an eye on the upcoming central bank rate decision. Analysts at HSBC and the Commonwealth Bank of Australia expect the Reserve Bank of Australia to leave the cash rate unchanged. South Korea's consumer inflation in October rose 1.3% from a year ago, slightly cooler than Reuters' expectations of 1.4%.

Persons: Australia's Organizations: U.S, Federal Reserve, Nikkei, HSBC, Commonwealth Bank of Australia, Bank of Australia Locations: Asia, Pacific, Chicago, Osaka

☆ Asia markets set for a mixed open after key Wall Street benchmarks clock worst day in 2 months
▼ + stars: | 2024-11-01 | by ( Anniek Bao | ) www.cnbc.com time to read: 1 min

SHANGHAI, CHINA - MARCH 01: Skyscrapers stand at the Pudong Lujiazui Financial District on March 1, 2022 in Shanghai, China. Asia-Pacific markets were set to open mixed Friday, after Wall Street benchmarks the Nasdaq Composite and S&P 500 suffered their worst day in nearly two months on downbeat Microsoft earnings forecast and Meta results. Traders await a slate of economic data from the region, including third-quarter producer prices index reading from Australia and Caixin China manufacturing purchasing managers' index for October. Japan's Nikkei 225 appeared set for a softer open, with the futures contract in Chicago at 38,470 and their counterpart in Osaka at 38,370 against the index's last close of 39,081.25. Futures for Hong Kong's Hang Seng index stood at 20,432, pointing to a rebound from its last close at 20,317.33.

Persons: Australia's Organizations: Pudong Lujiazui Financial, Nasdaq, Traders, Japan's Nikkei Locations: SHANGHAI, CHINA, Shanghai, China, Asia, Pacific, Australia, Chicago, Osaka

☆ CNBC Daily Open: Big Tech needs to go beyond beating earnings expectations
▼ + stars: | 2024-11-01 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Big Tech drags down marketsMajor U.S. indexes slumped on Thursday, weighed down heavily by losses in Big Tech shares. While the company's cloud division missed revenue expectations, it's growing faster than it had in the same period last year. CNBC Pro checked in with Teng again to find out how his picks have performed, and if he has changed his mind on the stocks he's betting on.

Persons: Kevin Teng, Teng Organizations: CNBC, Big Tech, U.S, Japan's Nikkei, CSI, Apple, Amazon, P Global, PMI, Boeing, Wrise Private Singapore Locations: Asia, Pacific, Cupertino, China

☆ Asia-Pacific markets set for mixed open; Australia inflation data in focus
▼ + stars: | 2024-10-30 | by ( Dylan Butts | ) www.cnbc.com time to read: 1 min

The Australian flag is in front of Christiansborg Palace in Copenhagen, Denmark, on January 14, 2024. Asia-Pacific markets were set for a mixed open Wednesday after key Wall Street benchmarks rose, with the Nasdaq Composite closing at a new record high as tech stocks gained. Traders in Asia will assess consumer price data out of Australia, with inflation for the quarter ended in September expected to fall to 2.9%, down from 3.8% in the previous quarter. Japan's Nikkei 225 futures pointed to a higher open for the market, with the contract in Chicago at 39,255 and its counterpart in Osaka at 39,160 compared to the index's previous close of 38,903.68. Hong Kong Hang Seng index futures were at 20,746, higher than the index's last close of 20,701.14.

Persons: Australia's Organizations: Nasdaq, Traders, Nikkei Locations: Christiansborg, Copenhagen, Denmark, Asia, Pacific, Australia, Chicago, Osaka, Hong Kong

☆ Asia-Pacific markets are set to open higher with Nikkei poised to extend gains
▼ + stars: | 2024-10-29 | by ( Lee Ying Shan | ) www.cnbc.com time to read: 1 min

Asia-Pacific markets are set to open higher, tracking gains on Wall Street as investors looked toward a slate of megacap technology earnings to keep propelling the Nasdaq Composite to new heights this week. Japan's Nikkei 225 futures pointed to a slightly stronger open for the market, with the futures contract in Chicago at 38,715 and its counterpart in Osaka at 38,630 compared to the previous close of 38,605.53. This comes after the ruling Liberal Democratic Party lost its parliamentary majority after voters cast their ballots on Sunday to determine the control of the lower house, marking the first time since 2009 that Japan's ruling coalition lost its majority. Australia's S&P/ASX 200 was 0.44% higher in its first hour of trade. Hong Kong's Hang Seng index futures were at 20,733, higher than the HSI's last close of 20,599.36.

Persons: Australia's Organizations: Nasdaq, Nikkei, Liberal Democratic Party Locations: Asia, Pacific, Chicago, Osaka

☆ Analysts give this Chinese tech stock 40% upside — but one CIO warns it could be a 'one trick pony'
▼ + stars: | 2024-10-28 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

Chinese tech company Baidu garnered interest among investors following a 28% year-to-date drop in its share price — but one market watcher is unimpressed. For comparison, the Nasdaq Composite is up around 25.4% year-to-date, while the benchmark S & P 500 index is around 22.5% higher. According to FactSet data, of the 46 analysts covering the stock, 35 give it a "buy" or "overweight" rating, at an average price target is $125.41. BIDU YTD mountain Year-to-date shares in Baidu Among the reasons for Hsu's skepticism, is that Baidu as an internet search engine "is a one trick pony." "Baidu was riding high for a short while but ... the AI story may have sunset on Baidu and it will go back to being a one trick pony."

Persons: that's, Jason Hsu, CNBC's, Ernie Bot, Hong, Hsu —, —, Hsu, Baidu Organizations: Baidu, Rayliant Global Advisors, Nasdaq, China Equity ETF Locations: China

☆ Asia markets open lower after major U.S. indexes slip; India prepares for Hyundai debut
▼ + stars: | 2024-10-22 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

A bronze bull statue outside the Bombay Stock Exchange (BSE) building in Mumbai, India, on Monday, June 3, 2024. India's stock futures jumped after exit polls indicated a resounding victory for Prime Minister Narendra Modi's ruling party in general elections that concluded Saturday. Photographer: Dhiraj Singh/Bloomberg via Getty ImagesAsia-Pacific markets slipped on Tuesday, trailing a mixed session on Wall Street. During the U.S. trading session, two Federal Reserve officials had spoken about the trajectory of interest rates. Dallas Federal Reserve President Lorie Logan said she supports the current move to lowering interest rates, but that a patient approach will be needed.

Persons: Narendra Modi's, Dhiraj Singh, Australia's, Kospi, Neel Kashkari, Lorie Logan Organizations: Bombay Stock Exchange, Bloomberg, Getty Images, Nikkei, Hyundai, Federal, Minneapolis, Dallas Federal Locations: Mumbai, India, Getty Images Asia, Pacific, South, Asia, Hyundai India

☆ Stocks making the biggest moves premarket: Boeing, Kenvue, Humana, Warby Parker and more
▼ + stars: | 2024-10-21 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

Humana , Cigna – Shares of both companies moved in opposite directions after Bloomberg, citing people familiar with the matter, reported that Cigna resumed merger talks with Humana. Humana gained more than 4% while Cigna fell a similar amount. UPS – Shares fell nearly 2% after a downgrade to underweight from equal weight at Barclays. Southwest Airlines – Shares dipped more than 1% before the market open. ASML – Shares fell more than 1% after Bernstein lowered its price target on the Dutch semiconductor equipment stock.

Persons: Johnson, Warby Parker, Goldman Sachs, Goldman, Cigna, Humana, Bernstein, —, Alex Harring, Samantha Subin, Jesse Pound, Hakyung Kim, Michelle Fox Theobald Organizations: Wall Street Journal, Johnson, Boeing, Bloomberg, Humana, –, Barclays, Amazon, Southwest Airlines, Elliott Investment Management, CNBC Locations: –

☆ China just triggered more stimulus measures, even as it says its economy is showing 'stable growth'
▼ + stars: | 2024-10-18 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

The People's Bank of China triggered two market support programs after China announced economic data. China's economy grew 4.6% in the third quarter of this year, the country's statistics bureau announced as it touted a "stable growth trend." "The property market unsurprisingly remains the biggest drag on China's growth," wrote Song, adding that stabilization in the real estate market remains "elusive." China's economy is being dragged by factors including a property crisis, high youth unemployment, and deflation. He added that he expects Beijing to continue to do more to support growth so the economy can enter 2025 on better footing.

Persons: —, Sheng Laiyun, China's, Lynn Song, Betty Wang, Larry Hu, Rajiv Biswas, who's, Wang Organizations: People's Bank of China, Service, Reuters, Greater China, ING, Oxford Economics, People's Bank of, Macquarie Group Locations: China, Greater, People's Bank of China, Beijing

☆ China pumps half a trillion dollars into beleaguered property sector. But that’s not enough
▼ + stars: | 2024-10-17 | by ( Juliana Liu | ) edition.cnn.com time to read: +3 min

Since then, economists have been expecting an additional stimulus package worth up to 10 trillion yuan ($1.4 trillion) to restore bullishness in the world’s second-largest economy. Chinese Housing Minister Ni Hong attends a press conference on the property sector in Beijing, China, on October 17, 2024. Widespread concernThe ailing property sector is widely believed to lie at the root of China’s numerous economic woes. It also cut the reserve requirement ratio for banks by half a percentage point, which would free up about 1 trillion yuan ($142 billion) for new lending. The resulting crisis has resulted in a precipitous fall in real estate prices and loss of confidence among consumers.

Persons: Xi Jinping, Housing Ministry didn’t, Larry Hu, “, ”, Ni, Minister Ni Hong, Florence Lo, Xiao Yuanqi, Pan Gongsheng Organizations: Hong Kong CNN, Housing Ministry, Macquarie, CNN, ” Investors, Ministry of Housing, Ni Hong, Minister, Administration Locations: China, Hong Kong, Shanghai, Beijing

☆ China pledges more financial support for 'whitelist' real estate projects
▼ + stars: | 2024-10-17 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +4 min

China vowed more financial support for real estate projects that fall under its so-called whitelist and to speed up banks lending of 4 trillion yuan ($561.8 billion) for such projects, according to the nation's housing ministry. A total of 2.23 trillion yuan has been approved in loans to whitelisted developers, and that figure is expected to exceed 4 trillion yuan by the end of this year, according to a senior official from the financial regulator. Real estate was also the leading gainer in Mainland China's CSI 300, advancing by nearly 5%. Days later, officials in a top-level meeting, chaired by Chinese president Xi Jinping, pledged to "halt the real estate market decline and spur a stable recovery." More than 50 cities across China had introduced policies to boost the real estate market, according to Chinese state media citing the housing ministry.

Persons: Ni, HSMPI, Pan Gongsheng, Xi Jinping, Goldman Sachs, —, — CNBC's Evelyn Cheng Organizations: National Financial Regulatory Administration, Investors, China's Ministry of Finance, Mainland, China's CSI, People Bank of China, National Bureau, Statistics Locations: China, Beijing, China's, Guangzhou, Shanghai, Shenzhen

☆ China could raise nearly $1 trillion of fresh debt in the next 3 years to revive its economy
▼ + stars: | 2024-10-16 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Chinese media reported that China could rack up $850 billion in debt to help revive its economy. China has vowed to roll out more fiscal stimulus, but key details were missing in a recent update. AdvertisementChina's fiscal stimulus efforts could include racking up almost $1 trillion in fresh debt over the next several years, according to local media. The money could be used as fiscal stimulus and to help "off-the-books debt" in local governments, the people added. One researcher recently estimated that the direct effects of China's latest stimulus package may not be felt until 2025, mainly because more fiscal stimulus needs to be unlocked before the policies can bolster the nation's economy.

Persons: —, Lan Fo'an Organizations: Service, China's, Finance, CNBC, Bloomberg, CSI Locations: China, Beijing, Hong Kong

☆ Asia-Pacific markets open higher after key Wall Street benchmarks hit record highs
▼ + stars: | 2024-10-15 | by ( Dylan Butts | ) www.cnbc.com time to read: 1 min

The port at Busan, South Korea, in 2020. South Korea and Japan are especially dependent on shipping lanes that traverse the South China Sea, linking them to the Indian Ocean, Persian Gulf and beyond. Asia-Pacific markets opened higher Tuesday, following gains on Wall Street that saw the Dow Jones Industrial Average and the S&P 500 Nasdaq Composite reach new record highs. Investors assessed trade data out of South Korea, which showed a trade surplus of $6.7 billion in September, up from $3.7 billion in the previous month. South Korea's Kospi opened 0.05% higher, while the small-cap Kosdaq was up 0.4%.

Persons: Australia's Organizations: Dow Jones Industrial, Nasdaq, Kospi, Nikkei Locations: Busan, South Korea, Japan, China, Persian Gulf, Asia, Pacific

☆ China property stocks jump after Beijing proposes measures to lift troubled sector
▼ + stars: | 2024-10-14 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +2 min

China property stocks jumped Monday after Beijing layed out more support measures over the weekend to shore up the troubled sector. While the Hang Seng Index was last down 0.4% in volatile trading Monday, the Hang Seng Mainland Properties Index rose over 2%. Shares of other real estate developers also saw significant gains, including China Overseas Land & Investment and Yuexiu Property gaining nearly 7% and 6%, respectively. Real estate was also the leading gainer in Mainland China's CSI 300, advancing nearly 5%, while the broader index was up 2%. The rally came after China's Ministry of Finance outlined new policy measures focused on stabilizing the beleaguered real estate sector.

Persons: Tommy Xie, Leonard Law Organizations: China Jinmao Holdings Group Ltd, Beijing, Mainland, China Resources, China Overseas Land & Investment, Yuexiu, China's CSI, China's Ministry, Finance, OCBC Bank, Lucror Analytics, CNBC Locations: Jinmao, Shanghai, China, China's, Asia

☆ Macao's next leader wants to wean economy off gambling
▼ + stars: | 2024-10-14 | by ( Dylan Butts | ) www.cnbc.com time to read: +2 min

Slated to become the next leader of Macao, Sam Hou Fai wants to steer China's special administrative region further away from its heavy reliance on gaming and gambling. Formerly Macao's top judge, Sam was elected Macao's next leader in an uncontested vote on Sunday. In the lead-up to his selection, the 62-year-old identified the diversification of Macao as an urgent issue to address. He added he would consider creating public funds to promote the development of emerging industries outside gaming and gambling. However, that reliance backfired during the Covid-19 pandemic when the gambling and gaming industries took major hits from border closures and social distancing policies.

Persons: Sam Hou Fai, Sam, Macao's, Ho Iat Seng, wouldn't, Seng Organizations: Trade, Beijing Locations: China, Macao, Greater China, Beijing

But the measures that Beijing’s economic planning agency announced this week proved to be an anticlimax — the trillions of yuan that observers were hoping would be revealed never materialized. Beijing might even miss its annual growth target of 5% — a figure it often surpassed prior to the pandemic. But while Chinese officials project confidence, the markets and the country’s public seem less convinced. Its broader financial lethargy and this week’s market turmoil will hardly be welcomed by Beijing. Costphoto / NurPhoto via Getty ImagesDomestic stimulus aside, there have been outward signs that China’s economy is in trouble.

Persons: Xi Jinping, Long Wei, ”, Keyu Jin, Trump, Joe Biden, isn’t, Fu, Miao Yuqing, Miao, Alicia Garcia, Herrero, what’s, Zheng Shanjie, Yue Su, ” Su Organizations: Beijing, Traders, Investors, CSI, Getty Images, London School of Economics, The, Communist Party, U.S, AFP, Getty, “, Asia Pacific, ”, National, Reform, Economist Intelligence Unit Locations: BEIJING, Shanghai, Hong Kong, China, Beijing, Hangzhou, Long, Lianyungang, Natixis, Guizhou province, Washington

☆ Why Chinese stocks will climb another 50% from current levels, research CEO says
▼ + stars: | 2024-10-11 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

Chinese stocks are poised for a huge run-up in the next year, according to Renaissance Macro's Jeff deGraaf. Other notable investors have been looking to buy the dip in Chinese stocks amid continued stimulus efforts. Other traders on Wall Street have shown interest in buying the dip in Chinese equities, despite fear that Beijing's economic slowdown could stick around. Other strategists on Wall Street have made bullish calls on Chinese equities in recent weeks, with eyes on continued stimulus measures in Beijing. Goldman Sachs predicted China's stock market could rally another 20%, thanks to "more substantial policy measures" and Chinese stocks being oversold, strategists said in a note.

Persons: Jeff deGraaf, —, deGraaf, Beijing didn't, Mario Draghi, Michael Hartnett, Yuan Wei, Yuan, Goldman Sachs Organizations: Service, Macro, CSI, Bloomberg, Beijing, Investors, Bank of America, Investment Fund Management Co Locations: —, Beijing, China, Wall, Shenzhen, Hong Kong

☆ Asia-Pacific markets open higher after S&P 500 and Dow hit new highs
▼ + stars: | 2024-10-10 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

The Tokyo Stock Exchange (TSE), operated by Japan Exchange Group Inc. (JPX), in Tokyo, Japan, on Monday, Aug. 5, 2024. SINGAPORE — Asia-Pacific markets opened mostly higher on Thursday, following gains on Wall Street that saw the S&P 500 and Dow Jones Industrial Average reach new records as investors shook off geopolitical concerns. Japan's Nikkei 225 opened up 0.5%, while the broad-based Topix gained 0.4%. Traders in Asia will assess data from September on producer prices in Japan which rose 2.8% from a year ago. Hong Kong Hang Seng index futures were at 21,070, higher than the HSI's last close of 20,637.24.

Persons: Australia's, Korea's Kospi Organizations: Tokyo Stock Exchange, Japan Exchange Group Inc, Dow Jones, Nikkei, Traders, Reuters Locations: Tokyo, Japan, SINGAPORE — Asia, Pacific, Asia, Hong Kong, China, Shenzhen, Beijing

☆ China economy: Stock markets’ holiday optimism doesn’t spread to Chinese shoppers
▼ + stars: | 2024-10-10 | by ( Juliana Liu | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Global investors went wild during China’s just-concluded Golden Week holiday by snapping up “everything” related to the country. But that optimism didn’t extend to shoppers and travelers in the world’s second-largest economy itself. “Low tourism spending per head and subdued services prices highlighted still weak domestic demand and continued consumption downgrading,” they said. Goldman Sachs added that anecdotal evidence indicates hotel prices and airfares during the holiday were lower than year-ago levels. According to official data, cross-border travel rose by about 26% to 13 million trips, compared with last year’s holiday period.

Persons: Goldman Sachs, ”, Xi Jinping, David Tepper Organizations: Hong Kong CNN — Global, Citi, Management, CNBC, Hong, National Development, Reform Commission, Ministry of Finance Locations: China, Hong Kong, Shanghai, Shenzhen

☆ Asia-Pacific markets gain ahead of U.S. inflation data; China stocks resume rally
▼ + stars: | 2024-10-10 | by ( Dylan Butts | ) www.cnbc.com time to read: +2 min

A general view of the Shanghai Securities Exchange building is being shown in Shanghai, China, on July 16, 2024. Japan's Nikkei 225 gained 0.26% to end at 39,380.89, while the broad-based Topix rose 0.2% to close at 2,71267. Traders in Asia were assessing September data on producer prices in Japan which rose 2.8% from a year ago. Economists polled by Reuters had predicted the inflation rate would come in at 2.3%, down from 2.5% in August. The rally had been triggered by a blitz of government stimulus measures at the end of September.

Persons: Australia's, Korea's Kospi, Hong, Chetan Ahya, Morgan Stanley, Ahya Organizations: Shanghai Securities Exchange, Dow Jones, Nikkei, Traders, Reuters, Investors, Holdings, Alimentation, CSI, China's Finance, Asia Locations: Shanghai, China, SINGAPORE — Asia, Pacific, 2,71267, Asia, Japan, Beijing

☆ The markets saw right through China's latest economic support hype
▼ + stars: | 2024-10-09 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

China's stock markets slumped after a 10-day rally that was driven by Beijing's stimulus announcement in September. Retail investors dominate China's markets, influencing sentiment and market movements. AdvertisementChina's top leadership has a problem with its economic stimulus: its own investors at home saw right through the hype this week. China's domestic stock markets slumped on Wednesday after a 10-day blitz culminated in a two-year high. China's domestic stock markets are dominated by over 200 million mom-and-pop retail investors, who account for about 70% of the trading volume.

Persons: —, weren't, Jun Rong, that's, Vishnu, Li Qiang, Hele Qiao, Qiao Organizations: Investors, Service, People's Bank of China, Reform Commission, BofA Global Locations: Shanghai, Shenzhen, China, Hong Kong, Beijing, Asia, Japan, Xinhua, Greater China, China's

☆ European markets head for mixed open as positive sentiment wavers
▼ + stars: | 2024-10-09 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

European stocks are heading for a flat to mixed open Wednesday as positive sentiment wavers in the region, spurred by market volatility in China. Regional markets traded and closed lower Tuesday, with all major bourses and the majority of sectors trading in the red during the day. On Tuesday, the HSI recorded its worst day in 16 years, closing 9.41% lower. U.S. stock futures hovered near the flatline Tuesday night after a winning session for the major averages. Wall Street is coming off a strong session for the major averages Tuesday as tech stocks outperformed, and oil prices eased off their highs.

Persons: HSI Organizations: Regional, CSI, NATO Locations: China, Asia, Pacific, Europe, Belgium

☆ Is it time to invest in China? Two pros share their views
▼ + stars: | 2024-10-09 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +4 min

As investors consider whether — and how — to invest in China, two experts share their views on the market right now. "We believe the scale and focus of these measures, particularly the targeted liquidity injection, address the critical issue of insufficient domestic capital flows into China's stock market. 'China is no longer cheap' Lorraine Tan, director of Asia's equity research at Morningstar, is more cautious looking ahead. "At this point in time, China markets are no longer cheap. Stocks on her radar include "higher quality, moaty names," such as fast-food restaurant chain Yum China Holdings and property developer China Resources Land .

Persons: Jingwei Chen, —, Europe —, Chen, Lorraine Tan, Tan, Stocks, — CNBC's Lim Hui Jie Organizations: National, Reform Commission, CSI, Wall, Wrise Private Singapore, CNBC Pro, Companies, BYD, Tencent Holdings, Morningstar, China Holdings, China Resources Locations: China, Asia, East, Europe, Hong Kong

☆ China economy: Government gives $28 billion to local governments as it vows to meet economic targets
▼ + stars: | 2024-10-08 | by ( Juliana Liu | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —China has set aside 200 billion yuan ($28 billion) for investment projects by local governments this year, as it promised to meet its own ambitious economic growth targets. China announced a 5% target growth rate in March, but a series of economic data over the summer has been so weak that economists were worried the goal might be missed. To help local governments struggling with mountains of debt, Beijing will provide 100 billion yuan ($14 billion) from the central government’s budget and an extra 100 billion yuan for investment projects, Zheng said. Nevertheless, investors were disappointed at the lack of details on new fiscal measures,” Fred Neumann, chief Asia economist for HSBC, told CNN. Fiscal measures, on the other hand, can include the use of taxation or other measures to impact public spending more directly.

Persons: ” Zheng Shanjie, Zheng, Xi Jinping, Fred Neumann, What’s, Jia Kang, “, … Jia Kang, –, Xi, ” Organizations: Hong Kong CNN, National Development, Reform Commission, HSBC, CNN, “, Ministry of Finance, Citi, People’s Bank of China Locations: China, Hong Kong, Beijing, Asia, Shanghai, Shenzhen

☆ Wall Street giants like Goldman quickly up their bets on Chinese markets amid stimulus promises
▼ + stars: | 2024-10-08 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

Goldman Sachs is the latest in a flurry of calls to upgrade China stocks after the Asian giant's recent wave of stimulus measures. Goldman predicts that Chinese stocks could even jump a further 15% to 20%, given the powerful comeback rally that has already occurred. It says the MSCI China index could have another 15% upside, and the CSI 300 index could enjoy a further 18% upside. In a Monday note, Citi also increased its price target for Chinese stocks. Following that, Wall Street started getting bullish on those stocks again, with Morgan Stanley predicting Chinese stocks are set to rally 10% and more.

Persons: Goldman Sachs, Goldman, Morgan Stanley, —, Vishnu Varathan Organizations: CSI, Citi, Wall, BlackRock Investment Institute, Mizuho Securities Locations: China, China's

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