Goldman Sachs recalibrates MSCI China Index and earnings forecast amid new headwinds for the Chinese economy


Source: scmp.com scmp.com

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Goldman Sachs has lowered the price target of MSCI China Index by 3.6 per cent and expects no earnings growth for publicly traded companies this year, as the ongoing mortgage loan boycott poses a new downside risk to the economy . The MSCI China Index of 717 stocks, which includes Alibaba Group Holding and Tencent Holdings, will probably finish at 81 in the following 12 months, compared with the previous estimate of 84, analysts led by Kinger Lau at the US investment bank wrote in a report dated July 21. The gauge closed at 69.55 on Friday. Goldman also cut...