Credit Suisse Upgrades Chinese Stocks to 'Overweight'
Reuters2022-03-17
MILAN, March 17 (Reuters) - Swiss bank Credit Suisse has upgraded Chinese stocks to 'overweight' following a recent commitment by the country's policymakers to support the economy.
"We think that Chinese equities offer attractive upside potential, with valuations still depressed. Efforts to contain the current COVID-19 outbreak are likely to have a more limited impact than in 2020 and 2021," the investment committee of the Swiss bank said in a report on Thursday.
Credit Suisse also lifted global stocks to 'tactical overweight' from 'neutral', recommending an increased exposure to U.S. stocks which it expects to be more resilient to any further escalation of the Russia-Ukraine conflict.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
