A turning point for Chinese stocks?
The Chinese stock market has performed poorly so far this year, but last night's high close may signal a change.
The Chinese stock market has performed poorly so far this year, but last night's high close may signal a change.
China's stock markets bucked the global trend overnight and closed higher.聽 It's been one of the worst-performing places to be this year (up only 4% YTD and down 22% over the last 52 weeks for some context) and the implications of that continuing have hampered the industrial and materials-related stocks here in the US.
In the New York Times this morning, we're told that a sea change may be in the offing as China eases by reformation:
This does not make me bullish just yet on China, but I'll note that their stock market has grown fairly inexpensive in both absolute and relative terms.聽 I'll also note that economists there say an actual lending rate cut could be happening in the first two weeks of April before the release of China's official Q1 GDP report (April 13th).聽 Worth thinking about.