- ORIGINAL NEWS
Clocktower’s chief strategist says Chinese stocks will likely rally 10% to 15% from here
- SUMMARY
Chinese stocks are predicted to surge at least 10% shortly due to the government’s concerted efforts to support the market.
This comes after a recent sell-off and uncertainty surrounding the economy.
The Chinese President will reportedly meet with financial regulators to discuss the situation.
Various statements and actions by the securities regulator aim to boost investor confidence.
However, Papic acknowledges the possibility of a temporary rebound before a continued downtrend.
- NEWS SENTIMENT CHECK
- Overall sentiment:
positive
Positive
“Chinese stocks will likely climb by at least 10% in coming days as authorities signal concerted support efforts”
“The Chinese securities regulator has issued multiple public statements in recent days aimed at bolstering investor confidence, including announcements of state-backed purchases.”
Negative
“I think they’re moving in the right direction.”
“Chinese stocks are still down for the year so far, following a 2023 marked by losses.”