Banks Turn Bullish On Global Assets

🇨🇳 🇨🇳 Goldman, UBS Join Bullish Bets on Global Assets as China Reopens
Chinese equities stand to gain another 20%, oil could renew its push past $100 and copper may breach $10,000 as consumption revives in the world’s no. 2 economy
Investors Take Note: The resumption of activity in China promises to unleash over $836 billion of excess savings
Chinese Stocks Are Back In Favor: Chinese shares may beat their global peers in 2023, with Morgan Stanley and Goldman Sachs Group Inc. forecasting the MSCI China Index will gain roughly 10% more while Citi Global Wealth Investments sees about 20% upside
This time round the recovery is going to be services- and consumption-led, rather than investment, which helps local equities more than other economies
Our Algorithm sees Asian equities extending gains, even after a benchmark entered a bull market. Exporters such as South Korea and Taiwan will benefit, as well as Southeast Asian economies which rely on Chinese tourists, notably Thailand. Deutsche sees Asian stocks rising 20% in 2023
Yuan Will Climb: The onshore yuan has gained about 7% since China started rolling back virus curbs in November. It could climb to 6.50 per dollar this year from around 6.72 now
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