Goldman Sachs Group said that under the benchmark of macro policies that are still loose and the growth rate of GDP (GDP) is expected to recover, the Goldman Sachs Strategy Team is optimistic about the performance of Chinese stocks listed at home and abroad.
According to the surging news report, at the Goldman Sachs 2023 China Macroeconomic Outlook and Capital Market Dynamic Media Exchange Conference on November 30, Liu Jinjin, chief Chinese stock strategist in Goldman Sachs, said: "If you look at the long -line investmentFrom an angle, we still maintain the viewing view of A shares. Whether from the perspective of policies or the theme investment, we believe that the medium and long lines of A shares will run for Hong Kong stocks. "The suggestions of A -share and Hong Kong stocks maintain a high -end allocation. It is predicted that the MSCI China index can rise to 70 points at the end of next year. The CSI 300 can rise to 4,500 points, which is 16%of the upward space compared to the current level.
He said, from the current point of view, the MSCI China Index and the CSI 300 Index's overall return in the next 12 months is about 16%., 13%.
At the macroeconomic level, Goldman Sachs believes that consumption is expected to become the highlight of economic growth next year. It is expected that consumer confidence will be restored in 2023.It is expected that the company's profit growth will be better next year, and the sector stocks will also have a greater probability to win the market. There will be a lot of room for recovery in tourism, catering, entertainment, and aviation.
At the same time, Goldman Sachs said that in the middle and long term, it is optimistic about the performance of the new "little giant" enterprise in China.Liu Jinjin said that there are currently more than 9,000 new special "little giants" enterprises in China, of which about 700 are listed on A shares. Among them, companies with relatively rapid profit growth, standardized governance, and active research and development investment are medium- and long -term overseas investors.Very valued.
Liu Jinjin's calculation and liquidity, in 2023, the northern direction of funds will inflow about 30 billion US dollars (S $ 40.7 billion), and the total amount of funds south will increase to a level of about 50 billion US dollars.
Regarding the macroeconomic, Goldman Sachs Chief Chinese Economist Shanhui said that after 2022, China's economic growth will restart, and it is expected that the stock market will strengthen in 2023Commodities, especially energy demand, and appreciate the exchange rate of the US dollar.
In the field of fixed income, Goldman Sachs continues to be optimistic about investment -level bonds of Chinese technology, media, telecommunications, and real estate sectors.By the mid -range of 2023, the valuation will become a more important push factor. The strategic team of Gaosheng Bond market believes that investment opportunities will turn to a lower rating and long -term credit bonds.With the expected economic growth rate from the third quarter of 2023, long -term interest rates such as 10 -year Treasury yields and policy financial bond yields that are more sensitive to economic growth and inflation expectations may take the lead in rising.
