Goldman Sachs Group said that thanks to China's re -opening up and some key policy changes, China's stocks may rise by 15%, and the RMB expected to reach the highest level since April.
According to Bloomberg, strategists including Liu Jinjin (Kinger Lau) wrote in a report on Monday (January 9) that Goldman Sachs raised the MSCI China index from 70 to 80The reason is that low valuations and multiple policy changes in real estate, Internet supervision and geopolitics.In addition, analysts such as Kamakshya Trivedi wrote in a report of last Friday (6th) that, affected by the optimistic emotions caused by re -open, Goldman Sachs expects RMB to rise to $ 6.5 by the end of the year. The previous estimate of 6.9 was 6.9Yuan.
Liu Jinjin's team wrote: "Looking at the world in 2023, China seems to be in a favorable position in terms of growth, policy and inflation cycle ... The current market environment allows usThe adverse risk of low or short Chinese stocks is significantly higher than that. "
As China gradually cancels the strict crown disease prevention and control measures and re -open the border, the stock ushered in the door.Pour into the market.The weakening of supervision risks and support measures in the real estate industry further boosted the market.
The MSCI China Index has increased by 48%compared with the October lows, and has won similar global indexes in the past two months.
With the re -open optimism, the stock market has received a lot of capital inflows, and the momentum of buying a RMB in 2023 is also increasing.The offshore RMB rose at 1 US dollars on Monday, 6.8 yuan, for the first time since August, and the increase since this year has expanded to 1.9%.
Goldman Sachs's Monday report said that the three Chinese personnel mobile indicators tracked the number of subway passenger traffic, which improved this month.The number of passengers with subway data has increased; although the passenger volume of most cities is still 30 to 40%lower than the same period last year, the rising rate is very fast.At the same time, the year -on -year decrease of the 100 -city traffic congestion index also narrowed from about 20%at the end of December to 5 to 10%.
In addition, Goldman Sachs said that, given that China's re -opening speed is faster than expected, macroeconomic recovery and normalization of regulatory regulations, the profit of China's Internet sector is expected to have further growth space.It listed Alibaba Group on a confident buying list and reiterated the buying rating of several other technology companies.
