In a surprising turn of events, UBS Group AG has made a rare upgrade call, lifting its recommendation on a key Chinese stock index to Overweight.
As of 2 p.m. ET, Chinese equity tracking ETFs such as the iShares China Large-Cap ETF (NYSE:FXI) was trading up 1.52%, KraneShares CSI China Internet ETF (NYSE:KWEB) was up 2.86%, and iShares MSCI China ETF (NASDAQ:MCHI) was up 1.26%.
Stocks of Chinese companies also shared in the optimism with Alibaba Group Holding (NYSE:BABA) (OTC:BABAF) was up 2.65%, PDD Holdings (NASDAQ:PDD) up 2.87%, Tencent Holdings ADR (OTC:TCEHY) up 3.51%, Li Auto Inc (NASDAQ:LI) up 0.24%, XPeng (NYSE:XPEV) up 2.29%, NIO – ADR (NYSE:NIO) up 2.50%, and JD.com (NASDAQ:JD) up 2.06%.
UBS Analyst Upgrades China To Overweight
This move comes amidst a backdrop of lingering concerns over China’s property sector and broader macroeconomic worries. However, Sunil Tirumalai, UBS’ institutional research Global Emerging Markets equity strategist, pointed to resilient earnings as a beacon of hope …
Full story available on Benzinga.com
In a surprising turn of events, UBS Group AG has made a rare upgrade call, lifting its recommendation on a key Chinese stock index to Overweight.
As of 2 p.m. ET, Chinese equity tracking ETFs such as the iShares China Large-Cap ETF (NYSE:FXI) was trading up 1.52%, KraneShares CSI China Internet ETF (NYSE:KWEB) was up 2.86%, and iShares MSCI China ETF (NASDAQ:MCHI) was up 1.26%.
Stocks of Chinese companies also shared in the optimism with Alibaba Group Holding (NYSE:BABA) (OTC:BABAF) was up 2.65%, PDD Holdings (NASDAQ:PDD) up 2.87%, Tencent Holdings ADR (OTC:TCEHY) up 3.51%, Li Auto Inc (NASDAQ:LI) up 0.24%, XPeng (NYSE:XPEV) up 2.29%, NIO – ADR (NYSE:NIO) up 2.50%, and JD.com (NASDAQ:JD) up 2.06%.
UBS Analyst Upgrades China To Overweight
This move comes amidst a backdrop of lingering concerns over China’s property sector and broader macroeconomic worries. However, Sunil Tirumalai, UBS’ institutional research Global Emerging Markets equity strategist, pointed to resilient earnings as a beacon of hope …
Full story available on Benzinga.com
In a surprising turn of events, UBS Group AG has made a rare upgrade call, lifting its recommendation on a key Chinese stock index to Overweight.
As of 2 p.m. ET, Chinese equity tracking ETFs such as the iShares China Large-Cap ETF (NYSE:FXI) was trading up 1.52%, KraneShares CSI China Internet ETF (NYSE:KWEB) was up 2.86%, and iShares MSCI China ETF (NASDAQ:MCHI) was up 1.26%.
Stocks of Chinese companies also shared in the optimism with Alibaba Group Holding (NYSE:BABA) (OTC:BABAF) was up 2.65%, PDD Holdings (NASDAQ:PDD) up 2.87%, Tencent Holdings ADR (OTC:TCEHY) up 3.51%, Li Auto Inc (NASDAQ:LI) up 0.24%, XPeng (NYSE:XPEV) up 2.29%, NIO – ADR (NYSE:NIO) up 2.50%, and JD.com (NASDAQ:JD) up 2.06%.
UBS Analyst Upgrades China To Overweight
This move comes amidst a backdrop of lingering concerns over China’s property sector and broader macroeconomic worries. However, Sunil Tirumalai, UBS’ institutional research Global Emerging Markets equity strategist, pointed to resilient earnings as a beacon of hope …Full story available on Benzinga.com Read MoreAnalyst Color, Asia, BABA, BABAF, China, Equities, Expert Ideas, FXI, JD, KWEB, LI, Long Ideas, MCHI, NIO, PDD, Stories That Matter, TCEHY, UBS Group, XPEV, Emerging Markets, Emerging Market ETFs, Global, Top Stories, Markets, Analyst Ratings, Trading Ideas, ETFs, FXI, US4642871846, PDD, TCEHY, MCHI, US46429B6719, BABA, KWEB, JD, LI, NIO, BABAF, XPEV, Long Ideas, Analyst Color, Equities, Asia, Emerging Markets, Emerging Market ETFs, Global, Top Stories, Markets, Analyst Ratings, Trading Ideas, ETFs, Benzinga Asia
