Goldman Sachs: China's Reflation Expectations Rise, Overweighting Raw Materials Sector and Upgrading Energy Sector to Neutral
Goldman Sachs stated that China's PPI growth has turned positive for the first time in 41 months, indicating a potential for mild reflation. This is beneficial for the improvement of earnings per share for listed companies in mainland China and Hong Kong this year. Investors are advised to focus on upstream industries that benefit from PPI inflation. The overweight rating for the raw materials sector remains unchanged, the energy sector is upgraded to neutral, and the food and beverage sector is downgraded to underweight.
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