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JPM Downgrades CN Stocks to Neutral, Cuts CSI 300 Index Target to 3,500
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JPMorgan downgraded its rating on Chinese stocks from Overweight to Neutral, reflecting headwinds to China's economic growth and lack of policy support, as well as increased market volatility due to the US election, according to foreign media reports. In addition, JPMorgan chief Asia and China equity strategist Wendy Liu issued a report lowering the end-2024 base target for the MSCI China Index from 66 to 60 and the CSI 300 Index forecast from 3,900 to 3,500. AAStocks Financial News |
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