Morgan Stanley became the latest China bull to reduce the target for key stock indexes, citing delayed earnings recovery, a weaker currency outlook and geopolitical uncertainties.
The bank lowered its MSCI China Index target to 70 from 80 and trimmed that for the Hang Seng China Enterprises Index to 7,320 from 8,250, implying about a 15% gain each through June 2024 from the latest close. Strategists led by Laura Wang maintained their overweight recommendation, but said they are trimming exposure.
https://www.bloomberg.com/news/articles/2023-06-05/morgan-stanley-joins-goldman-in-cutting-china-index-targets
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