Goldman Joins the China-Equity Bull Party After Missing Rally
- MSCI China to gain 25% in 2017; banks boosted to overweight
- Growth, policy to be supportive in lead up to Party Congress
Why Goldman's Moe Upgraded His China Call
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Goldman Sachs Group Inc. is joining the rush on Chinese shares, becoming the latest major brokerage to upgrade the market thanks to mounting evidence of strength in the largest Asian economy.
The bank’s strategists are now overweight Chinese stocks, with their 12-month forecast for the MSCI China Index boosted to 73 points from 68, according to a note dated Monday from Goldman analysts including Kinger Lau and Timothy Moe in Hong Kong. That represents a gain of almost 25 percent for 2017.