News Snapshot:
And while the most aggressive period of central bank tightening is in the rearview mirror, strategists are bracing for the lagged effects on borrowers that risk tipping the global economy into recession early this year, triggering a wave of profit downgrades. “We view China reopening to be the biggest factor impacting our sharemarket during 2023,” said Credit Suisse equity strategist Yaying Dong. China is the biggest importer of raw materials and energy. Mining no saviour Mr Dong argued that China’s recovery would mean another year of earnings outperformance for metals and mining stocks, extending the dazzling post-pandemic run of the...
