Goldman SachsWang Shengzu, co-head of Asian investment strategy, said that we are more bullish on Chinese stocks than cash and bonds, and the Chinese stock market is now in the "early stage of a multi-year rally". Pro-cyclical value stocks should catch up with growth stocks.
Goldman Sachs also said that against the backdrop of a weak dollar, other currencies are also appreciating and the market as a whole is in a risk-by-risk mode, so many emerging markets face capital inflows and currency appreciation, and the room for further appreciation of the renminbi is expected to be limited.
