“We see room for modest multiple expansion for China,” Goldman strategists led by Timothy Moe wrote in a note March 2. “We estimate an average 4% further upside in offshore equities if trade news improves further. For trade-related names, we see better value in the US-exposed China stocks than the regional exporters.”
(Mar 4): Chinese stocks have had a great start to 2019, and it may not stop there.
The benchmark CSI 300 Index has risen 25% this year, outperforming all other major stock gauges. The offshore yuan has risen more than 2% versus the US dollar. And while Goldman Sachs Group Inc and JPMorgan Chase & Co say some sectors are fairly valued or even expensive, they also see China-related assets where further gains are likely.
