Goldman Says China, South Korea Stocks to Outperform Next Year
- Eased Covid-19 curbs, improving global economy buoy outlook
- Sees north Asian equities outperforming Asean, India
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Goldman Sachs Group Inc.’s analysts turned bullish on the equity markets of China and South Korea, predicting they will outperform in 2023 as Beijing relaxes its Covid-Zero policy and the global backdrop improves.
Both the MSCI China benchmark and the country’s CSI 300 Index will rise by 16% in the next 12 months, the most in the region, strategists including Timothy Moe wrote in a note. They also raised South Korea to overweight from neutral, and Hong Kong to marketweight.