Goldman Sachs Raises Forecast For Chinese Market: Stock Ideas To Bet On Recovery Momentum
Portfolio Pulse from Piero Cingari
Goldman Sachs has raised its forecast for the Chinese market, citing a significant rally in Chinese stocks and a reduction in property-related risks. The MSCI China Index, tracked by the iShares MSCI China ETF (NYSE:MCHI), has seen substantial gains. Goldman Sachs has launched a 40-stock China Recovery Portfolio, including prominent stocks like Alibaba (NYSE:BABA), BYD (OTCPK:BYDDY), Li Auto (NASDAQ:LI), and Trip.com (NASDAQ:TCOM).
May 21, 2024 | 1:32 pm
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POSITIVE IMPACT
Alibaba Group Holdings Ltd. (NYSE:BABA) is included in Goldman Sachs' 40-stock China Recovery Portfolio, indicating confidence in its potential for growth.
Inclusion in the portfolio suggests that Goldman Sachs sees significant upside potential for Alibaba, likely boosting investor confidence.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 80
POSITIVE IMPACT
BYD Co. Ltd (OTCPK:BYDDY) is part of Goldman Sachs' China Recovery Portfolio, reflecting positive sentiment towards the company's growth prospects.
Goldman Sachs' inclusion of BYD in its portfolio indicates a favorable outlook, which could drive short-term stock price increases.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 70
POSITIVE IMPACT
Li Auto Inc. (NASDAQ:LI) is included in Goldman Sachs' 40-stock China Recovery Portfolio, suggesting strong growth potential.
Inclusion in the portfolio suggests that Goldman Sachs sees significant upside potential for Li Auto, likely boosting investor confidence.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 70
POSITIVE IMPACT
The iShares MSCI China ETF (NYSE:MCHI) has risen 31% from its lows in late January and 19% in the past month, outperforming most developed and emerging market equity indices.
The ETF has shown strong performance, and Goldman Sachs' optimistic forecast for Chinese equities suggests continued upward momentum.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Trip.com (NASDAQ:TCOM) is part of Goldman Sachs' China Recovery Portfolio, indicating confidence in its potential for growth.
Goldman Sachs' inclusion of Trip.com in its portfolio indicates a favorable outlook, which could drive short-term stock price increases.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 70