Goldman Strategists See 24% Jump in China Stocks by Year-End
- Market theme will slowly shift from reopening to recovery: GS
- Chinese stocks stage rebound on Monday after three-week loss
An investor monitors stock prices at a securities exchange firm in Shanghai, China.
Photographer: Qilai Shen/Getty Images
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Goldman Sachs Group Inc. strategists expect the selloff in Chinese stocks since late January to reverse as the nation’s economic reopening delivers windfall profits for businesses.
The US investment bank sees potential for the MSCI China Index to reach 85 points by the end of 2023, an increase of about 24% over its close last week, according to a note from strategists including Kinger Lau. The gauge climbed as much as 1.6% in Monday’s session amid a broad China rebound.