That comes after many Wall Street banks and analysts downgraded China stocks in recent years, with only a few fund managers sticking to their conviction stance.
Goldman Sachs is the latest in a flurry of calls to upgrade China stocks after the Asian giant's recent wave of stimulus measures. The Wall Street bank raised its call on China stocks to an overweight rating in an Oct. 5 note, adding that this market is set to soar further. Goldman predicts that Chinese stocks could even jump a further 15% to 20%, given the powerful comeback rally that has already occurred.
30 note on expectations of fiscal stimulus. It's now "modestly overweight" on China. "Major fiscal stimulus may be coming and prompt investors to step in given Chinese stocks are at a deep discount to DM shares," it said. "Yet we stay ready to pivot. We are cautious long term given China's structural challenges.
Goldman Sachs BDC Inc Goldman Sachs Group Inc Business News
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