(Bloomberg) -- JPMorgan Chase & Co. abandoned its buy recommendation for Chinese stocks, citing heightened volatility around the upcoming US elections in...
-- JPMorgan Chase & Co. abandoned its buy recommendation for Chinese stocks, citing heightened volatility around the upcoming US elections in addition to growth headwinds and tepid policy support. China was downgraded to neutral from overweight in the bank’s emerging markets allocation, strategists led by Pedro Martins wrote in a note Wednesday.
Economists increasingly think China will miss its growth target of around 5% this year — and many equity analysts are now pointing their clients elsewhere. “We think the market may trade on the weak side during Sept-Oct after Q2 results,” Liu wrote. “During this time, the US presidential election, the Fed’s rate decisions, and the US growth outlook will be front and center.”
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bears assistant Jennifer King was a successful basketball coach but couldn’t pass up NFL opportunityChampion women’s basketball coach abandons hoops for dream job in NFL with Panthers, Bears
Read more »
Ford government close to completing Greenbelt checklist, key recommendation will go to committeeIn her Greenbelt investigation, Ontario's auditor general set the Ford government 15 tasks to fix its internal processes. The vast majority of them are now complete.
Read more »
Marathon Digital stock dips on JPMorgan price target cutShares of Marathon Digital (MARA) are falling Tuesday after receiving a price target cut from JPMorgan. Analysts at the firm lowered the price target to $12 ...
Read more »
Volvo Cars abandons near-term EV-only ambitionsSTOCKHOLM (Reuters) -Swedish automaker Volvo Cars said on Wednesday it had abandoned is ambition to sell only fully electric cars by 2030, and would instead ...
Read more »
Volvo Cars abandons its near-term EV-only ambitionsVolvo said on Wednesday it would instead allow plug-in vehicles as well as some hybrid engine cars as part of its lineup by 2030
Read more »
Glencore Abandons Plan to Exit Coal After Investors Say No(Bloomberg) -- Glencore Plc has abandoned plans to spin off its coal unit just nine months after saying it would exit the profitable but polluting business, ...
Read more »