Goldman Sachs: For every 1% appreciation of the yuan against the dollar, China's stock market can rise by 3%.
2025-05-26 04:03:24
Strategists at Goldman Sachs said Chinese stocks were expected to benefit from further gains in the renminbi, which has shown resilience amid the US-China trade dispute. They forecast that each 1 per cent appreciation of the renminbi against the dollar would boost Chinese stocks by 3 per cent, helped by factors such as improved profit prospects for companies and increased foreign inflows. Goldman said the outlook for the renminbi supported their overweight stance on Chinese equities, with consumer discretionary, real estate and brokerage stocks typically performing well in a strong currency.
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