Goldman Sachs: Upgrading China's stock market rating to "overweight" can add another 15% -18%

On October 7th, Goldman Sachs raised the Chinese stock market to "overweight" in its latest report. Goldman Sachs believes that the Chinese stock market still has further upside potential. It raised the target price of MSCI China from 66 to 84, and the target price of the CSI 300 index from 4,000 to 4,600. This means that from the current level, the total return has about 15% - 18% upside. In terms of industry allocation, Goldman Sachs said that in view of the increase in capital markets activity and the improvement of asset performance, insurance and other finance (e.g., brokerages, exchanges, investment companies) were raised to "overweight". At the same time, Goldman Sachs maintained the "overweight" position on the Internet and entertainment, technology hardware and semiconductors, consumer retail and services, and daily necessities.