{"id":752,"date":"2023-08-25T13:33:05","date_gmt":"2023-08-25T13:33:05","guid":{"rendered":"https:\/\/efimarkets.com\/blog\/?p=752"},"modified":"2023-08-26T10:46:30","modified_gmt":"2023-08-26T10:46:30","slug":"morgan-stanley-cuts-targets-for-china-hong-kong-stock-markets","status":"publish","type":"post","link":"https:\/\/bhimmarkets.com\/blog\/morgan-stanley-cuts-targets-for-china-hong-kong-stock-markets\/","title":{"rendered":"Morgan Stanley cuts targets for China, Hong Kong stock markets"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"752\" class=\"elementor elementor-752\">\n\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-455fcd2 e-con-boxed e-flex e-con\" data-id=\"455fcd2\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;boxed&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d9221e9 elementor-widget elementor-widget-text-editor\" data-id=\"d9221e9\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.13.0 - 24-04-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p><span style=\"color: #000000;\">Due to the geopolitical unrest, the negative currency outlook, and the delayed earnings rebound. Morgan Stanley has lowered its target for key Chinese stock indexes.&nbsp;<\/span><\/p>\n<h2><span style=\"color: #000000;\"><b>Recent cut and future prediction<\/b>&nbsp;<\/span><\/h2>\n<p><span style=\"color: #000000;\"><img decoding=\"async\" loading=\"lazy\" class=\"alignleft wp-image-753\" src=\"https:\/\/efimarkets.com\/blog\/wp-content\/uploads\/2023\/08\/MicrosoftTeams-image-745-300x167.png\" alt=\"Morgan Stanley\" width=\"450\" height=\"250\" srcset=\"https:\/\/bhimmarkets.com\/blog\/wp-content\/uploads\/2023\/08\/MicrosoftTeams-image-745-300x167.png 300w, https:\/\/bhimmarkets.com\/blog\/wp-content\/uploads\/2023\/08\/MicrosoftTeams-image-745-1024x569.png 1024w, https:\/\/bhimmarkets.com\/blog\/wp-content\/uploads\/2023\/08\/MicrosoftTeams-image-745-768x427.png 768w, https:\/\/bhimmarkets.com\/blog\/wp-content\/uploads\/2023\/08\/MicrosoftTeams-image-745.png 1080w\" sizes=\"(max-width: 450px) 100vw, 450px\" \/>It decreased the Hang Seng China Enterprises Index aim to 7,320 from 8,250 and the MSCI China Index target to 70 from 80, suggesting gains of around 15% from the most recent closing for each index through June 2024. The global bank has reduced exposure while keeping its Overweight recommendation. &nbsp;<\/span><\/p>\n<p><span style=\"color: #000000;\">According to economists Laura Wang and Jonathan Garner, the modification is a result of Morgan Stanley recently lowering its projections for China&#8217;s economic growth through the next year. &nbsp;<\/span><\/p>\n<p><span style=\"color: #000000;\">Earlier, because to worries about profits and currency, Goldman Sachs also lowered its objective for MSCI China.&nbsp; &nbsp;<\/span><\/p>\n<h2><span style=\"color: #000000;\"><b>Expected bullish in China\u2019s stock market<\/b>&nbsp;<\/span><\/h2>\n<p><span style=\"color: #000000;\">Morgan Stanley strategists began to be optimistic on Chinese stocks in December and increased their MSCI China Index target in January. Due to the nation&#8217;s reopening frenzy, the majority of significant banks were optimistic about China. The most recent decrease in the objective, however, indicates the dramatic reduction in optimism over Chinese stocks.&nbsp;<\/span><\/p>\n<h2><span style=\"color: #000000;\"><b>What does the analyst say?<\/b>&nbsp;<\/span><\/h2>\n<p><span style=\"color: #000000;\">However, &#8220;we acknowledge the significant hurdles to be overcome first and that the window for investors to reassess the stock market is narrowing,&#8221; Morgan Stanley analysts lead by Laura Wang wrote in a Sunday note. The <a href=\"https:\/\/efimarkets.com\/\">stock market&#8217;s<\/a> outperformance may resume from the second half on policy easing.&nbsp;<\/span><\/p>\n<p><span style=\"color: #000000;\" data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:1,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:420}\">&nbsp;<\/span><span style=\"color: #000000;\">&#8220;More significant earnings pressure due to property sector issues, local government financing vehicles, deflation, and delayed stimulus follow-through. The downward adjustment to our targets is driven by a combination of much lower earnings expectation in 2023 and a lower valuation multiple assumption,&#8221; the analysts stated in the report.&nbsp;<\/span><\/p>\n<h2><span style=\"color: #000000;\"><b>Target<\/b>&nbsp;<\/span><\/h2>\n<p><span style=\"color: #000000;\">The base-case June projections for the Hang Seng, Hang Seng China Enterprises Index, and CSI 300 indices were also reduced by The Wall Street Bank to 18,500, 6,450, and 4,000, respectively. In addition, target prices for these two indexes were decreased due to China&#8217;s roughly 30% weight in MSCI EM and MSCI APxJ.&nbsp;<\/span><\/p>\n<h2><span style=\"color: #000000;\"><b>Bottom Line<\/b>&nbsp;<\/span><\/h2>\n<p><span style=\"color: #000000;\">Following a rise sparked by government stimulus measures, Morgan Stanley earlier this month downgraded Chinese equities to equal weight and advised investors to take profits. As a result of the deteriorating economy and rising geopolitical unrest, important Chinese indices such as the HSCEI and MSCI China underperformed globally, entering a bear market. &nbsp;<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Due to the geopolitical unrest, the negative currency outlook, and the delayed earnings rebound. Morgan Stanley has lowered its target for key Chinese stock indexes. Recent cut and future prediction It decreased the Hang Seng China Enterprises Index aim to 7,320 from 8,250 and the MSCI China Index target to 70 from 80, suggesting gains &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/bhimmarkets.com\/blog\/morgan-stanley-cuts-targets-for-china-hong-kong-stock-markets\/\"> <span class=\"screen-reader-text\">Morgan Stanley cuts targets for China, Hong Kong stock markets<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":753,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-global-header-display":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","footnotes":""},"categories":[12],"tags":[14],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Morgan Stanley cuts targets for China, Hong Kong stock markets -<\/title>\n<meta name=\"description\" content=\"Morgan Stanley reduces expectations 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