LONDON (Reuters) - U.S. investment bank JPMorgan has forecast a 9-10% jump in Chinese stocks by the end of next year if confidence begins to return to the country's giant, but currently spluttering, economy.
"We forecast 10% potential upside in MSCI-China from now to end-2023," JPMorgan's analysts said in note, adding that their target for the yuan-denominated CSI-300 stocks index was a 9% rise to 4,200 points.
A combination of support for China's battered property sector and hopes that COVID restrictions will be eased over the next year have lifted the two indexes nearly 13% and 10% respectively over the last 4-6 weeks.
(Reporting by Marc Jones; editing by Danilo Masoni)
Price
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Change
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5d. change
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Capi.
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|---|---|---|---|---|---|
| 56.44 USD | +2.07% | +1.80% | - | ||
| 1,598 USD | +0.52% | -1.54% | - | ||
| 4.709 CNY | +0.20% | +1.55% | - | ||
| 5.295 CNY | -0.10% | +1.08% | - | ||
| 7.744 CNY | -0.11% | +0.71% | - | ||
| 9.005 CNY | -0.15% | +0.06% | - | ||
| 0.087 CNY | +0.00% | +0.58% | - | ||
| 7.245 CNY | +0.02% | +0.12% | - | ||
| 7.266 CNH | +0.10% | +0.04% | - | ||
