Goldman Sachs Says Exit China Stock Bet as Growth Estimates Fall
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Goldman Sachs Group Inc. said clients should exit a bet that Hong Kong-listed companies in China will gain as UBS AG and Citigroup Inc. cut growth forecasts for the world’s second-biggest economy.
“We are closing our recommended long position in Chinese equities” after the trade lost 5 percent, Goldman analysts including Noah Weisberger wrote in an e-mailed report dated yesterday. In a Nov. 6 report, the analysts favored shares in the Hang Seng China Enterprises Index.