The promise of more policy stimulus, under-representation in investor portfolios and potential earnings upgrades are piquing investors' interest in Chinese markets despite a weaker-than-expected recovery after the country's re-opening following COVID
Chinese equities have lagged markets in the U.S., Japan and Germany this year. Investors now expect China markets to stage a recovery in the second half of 2023.
"Supportive catalysts are falling into place, engendering an attractive tactical market setup for stock operators to take risk," Goldman Sachs strategists wrote in a note to clients. "The market wants to see a new support package coming. If it is the case, spreads will start to tighten across the board," said Monchau, adding that China is under-represented in portfolios.
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