Morgan Stanley's chief Chinese stock strategist Wang Yan analyzed that Chinese stocks may start from the fluctuations from 2023. As the Chinese government advances its strategic goals and the country's macroeconomic situation improves, green energy and consumer goodsSeveral categories of stocks will perform well.
The Dow Jones News Agency reported that in the latest China stock strategy report released earlier this month, Morgan Stanley raised the target level of the Chinese stock index for the first time since January 2021.The investment bank's goals for the Hang Seng Index and the CSI 300 Index are 18,200 and 4140 points, respectively, which means that they are about 5%and 11%higher than the current index points, respectively.Under the dragging on the strict epidemic prevention restrictions, the Chinese real estate market and the situation of geopolitical tensions, these two indexes have fallen by about 25%this year.
Wang Yan said that some recent development development is reversing, including the signal of relaxation and prevention measures released by the Chinese government, new support for the real estate market, expected to strengthen the renminbi, as well as inspections on the United States to inspect China in ChinaThe "potential positive results" of the audit draft in the US listed company -this is a key uncertain factor that plagues Chinese stocks in the past year.
"In our basic situation, we expect that there will be an absolute rise in the next 12 months." Wang Yan said that although the scope of the results may be "still wide in the short term."
Wang Yan said that in this world's second largest economy, the most attractive is those industries that can directly benefit from China's "top -down policy dividends".These industries include high -end manufacturing, information technology and automation, and all these industries are in line with the national strategic development plan of the Chinese government.
Morgan Stanley's report mentioned that electric vehicle manufacturers Weilai Group, chip supplier Jiaxing Stidao semiconductor and industrial solution supplier Guodian Nanrui is the potential beneficiary of these policy dividendsList.Wang Yan also said that these companies "have a limited dependence on US technology or US income", which is very important in a period when the US -China relations are extremely intense due to advanced technology competition.
Investors may find more secure opportunities in "green economy" companies such as solar glass and wind turbine manufacturers.Wang Yan said that at the time of the Chinese government's carbon emissions goals, these companies enjoy the highest level of policy support, and given the efforts of global cooperation to respond to climate change, in 2023, they "are not very sensitive to geopolitical tensions."The company's selected companies include Xinyi Guangneng, Flerat Glass, Longji shares and Tianshun Fengneng.
JP Morgan Stanley's other key trading theme in 2023 is a necessary consumer goods and services. These products and services will become the main beneficiary of China's relaxation and dynamic zero policy.Sports goods manufacturer Anta Sports, luggage professional companies, new beautiful and catering operators Jiu Mao Jiu is the choice of the bank under this subject.
However, Wang Yan reminded that the road to recovery will not be flat, and the Chinese government's epidemic prevention strategy has great uncertainty, and Sino -US relations are unstable.Weaken quickly.
"The overall volatility of the Chinese market has risen sharply, and it may maintain this state," she said."Many these factors will take longer to eliminate and clarify."
