Wall Street Wants Xi’s Money-Minting Markets to Come Back
- Foreigners have been dumping China assets since start of year
- Recent policy shifts have firms now saying it’s time to reload
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More than two years of growth-squelching policies sent international investors fleeing China. It’s taken all of two weeks to lure them back.
From Morgan Stanley and Bank of America to TCW, Fidelity International and Franklin Templeton, some of the biggest players in global markets are turning increasingly bullish on Chinese assets. It’s a stark contrast from just last month, when foreign firms pulled an estimated $8.8 billion from the nation’s slumping stocks and bonds, and analysts were predicting more gloom ahead.