JPMorgan sees 9-10% rise in Chinese stocks by end-2023
U.S. investment bank JPMorgan has forecast a 9-10% jump in Chinese stocks by the end of next year if confidence begins to return to the country’s giant, but currently spluttering, economy.
“We forecast 10% potential upside in MSCI-China from now to end-2023,” JPMorgan’s analysts said in note, adding that their target for the yuan-denominated stocks index was a 9% rise to 4,200 points.
A combination of support for China’s battered property sector and hopes that COVID restrictions will be eased over the next year have lifted the two indexes nearly 13% and 10% respectively over the last 4-6 weeks.
Source: Reuters (Reporting by Marc Jones; editing by Danilo Masoni)