The team also upgraded Hong Kong stocks to market-weight, touting them to be among the key beneficiaries of the dollar weakness resulting from the US Federal Reserve’s easing cycle.
Goldman Sachs Group strategists raised their forecast for Asian stocks, citing a more favourable macro environment and greater certainty around tariffs.
The 12-month target on the MSCI Asia Pacific ex-Japan Index was lifted by 3% to 700, implying a 9% return in dollar terms during the period, strategists led by Timothy Moe wrote in a note Friday.
