Home HomeSwedenLivingWorld world_2_fill WorldBusiness BusinessSports sports-soccer SportsEntertainmentEntertain

JP Morgan Removes Buy Recommendation on China

Published: 05 September 2024
JP Morgan Removes Buy Recommendation on China
Photo: Ng Han Guan AP/TT

The American giant bank JP Morgan Chase & Co is removing its buy recommendation on Chinese stocks. The bank's strategists are warning of increased uncertainty due to the US presidential election in November, headwinds for China's economy, and difficulties in getting Chinese stimulus measures to work.

The JP Morgan strategists are downgrading their recommendation on Chinese stocks from "overweight" to "neutral", thereby following in the footsteps of their colleagues at the major banks UBS and Nomura, who have also downgraded their recommendations on Chinese assets in recent weeks.

An increasing number of economists are expecting China to fail to reach its growth target of 5 percent this year. The latest to revise their forecast among the heavyweights on Wall Street was Bank of America.

JP Morgan – whose economists believe in a China growth rate of 4.6 percent this year – currently sees better returns on stock investments in growth countries such as India, Mexico, Saudi Arabia, Brazil, and Indonesia.

Places
Organisations
TTT
By TTThis article has been altered and translated by Sweden Herald

More news

Turkish interest rate remains at 50 percent
1 MIN READ

Turkish interest rate remains at 50 percent

British interest rate remains at 5 percent
1 MIN READ

British interest rate remains at 5 percent

Leading chains raise petrol price
1 MIN READ

Leading chains raise petrol price

Snuff Company Celebrates Budget News
1 MIN READ

Snuff Company Celebrates Budget News

New Legal Battle Looming between Apple and EU
1 MIN READ

New Legal Battle Looming between Apple and EU

The Winners: "High-Income Groups"
1 MIN READ

The Winners: "High-Income Groups"

Central Bank Paves the Way for Double Cut from Riksbanken
2 MIN READ

Central Bank Paves the Way for Double Cut from Riksbanken

PRO on the budget: "It's appalling"
2 MIN READ

PRO on the budget: "It's appalling"

The Norwegian Krone Rises After Interest Rate Announcement
1 MIN READ

The Norwegian Krone Rises After Interest Rate Announcement

Damberg: The Budget is a Mockery of Ordinary People
2 MIN READ

Damberg: The Budget is a Mockery of Ordinary People

How Your Economy is Affected by the Budget
2 MIN READ

How Your Economy is Affected by the Budget

Lower Taxes - Most for High-Income Earners
3 MIN READ

Lower Taxes - Most for High-Income Earners

Svantesson's next challenge: Unemployment
2 MIN READ

Svantesson's next challenge: Unemployment

Setback for Electric Car Demand in Europe
2 MIN READ

Setback for Electric Car Demand in Europe

Profit warning from electronics manufacturer
1 MIN READ

Profit warning from electronics manufacturer

Strong stock market surge – the krona near its year-high
2 MIN READ

Strong stock market surge – the krona near its year-high

Slow in e-commerce – more choose foreign low-price
1 MIN READ

Slow in e-commerce – more choose foreign low-price

The Budget: Lower Taxes to Support Households
3 MIN READ

The Budget: Lower Taxes to Support Households

Smooth Sailing in Asia after Fed's Double Cut
1 MIN READ

Smooth Sailing in Asia after Fed's Double Cut

Downward trend in the USA after Fed's double rate cut
1 MIN READ

Downward trend in the USA after Fed's double rate cut