未知机构：大摩-China Equity Strategy Mid-Year Outlook-20250526
2025-05-26 03:55
May 20, 2025 09:00 PM GMT China Equity Strategy Mid-Year Outlook More Golden Rays Through the Grey We raise index targets given structural improvement (i.e., ROEs, recent earnings, partial moderation in geopolitical tensions). MS forecasts a stronger CNY, and UW investor positioning also helps. Yet, remaining deflationary macro challenges keep us at EW. Prefer ADRs/H- over A-shares. But, broad macro-level recovery remains challenging, despite more golden rays through the clouds. Therefore, we maintain a sol ...