Foreign Institutional Investors Buy Chinese Assets - Yicai
Chinese assets are attracting more overseas institutional investors amid the continuous easing of China’s Covid control measures, the introduction of real estate support policies, as well as the weakening of U.S. dollar, Yicai.com reported. Morgan Stanley raised its rating on the Chinese stock market from “equal-weight” to "overweight". UBS raised their forecast for yuan in March, June, September and December next year to 7.3, 7.1, 7 and 6.9 against the dollar, as recent policies support their view that the economy will improve from Q2 2023. The yuan is expected to remain volatile in the near term, and could test the 6.8-6.9 range should the dollar continue to weaken, Yicai said citing Zhang Meng, analyst at Barclays.