Reopening to recovery: Goldman Sachs sees China stocks surging as much as 24% by end of 2023

Home » Business » Reopening to recovery: Goldman Sachs sees China stocks surging as much as 24% by end of 2023

BEIJING, CHINA – FEBRUARY 09: Citizens walk at Wangfujing Pedestrian Street in the snow on February 9, 2023 in Beijing, China.Vcg | Visual China Group | Getty ImagesGoldman Sachs strategists see an economic shift from “reopening to recovery” driving Chinese stocks as much as 24% higher by the end of this year.The firm sees a potential 24% upside to the MSCI China index as the country moves past the reopening that followed its stringent zero-Covid policies to a growth phase, according to a Monday note.”We believe the principal theme in the stock market will gradually shift from reopening to recovery, with the driver of the potential gains likely rotating from multiple expansion to earnings growth/delivery,” Goldman Sachs strategists including chief China equity strategist Kinger Lau said in the note.Chinese stocks entered bull market terri …

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