Morgan Stanley Strategist Who Called China Rout Still Won’t Buy
- Chief Asia EM strategist says China’s bear market not yet over
- Garner wary of China stocks recovery on omicron, U.S. rates
Jonathan Garner is a notable holdout in a market where an increasing number of strategists have turned bullish on Chinese stocks.
Having warned about valuation and macro risks in Chinese equity markets just before they crashed in February last year, the chief Asia and emerging markets strategist for Morgan Stanley thinks it’s too early to call a bottom. His caution stands in contrast to Goldman Sachs Group Inc. and others, whose strategists expect double-digit gains in Chinese stocks this year.