UBS: There are many global macro risks recently, and the Chinese stock market is relatively defensive
2024-08-06
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【UBS: There have been multiple global macro risks recently, and the Chinese stock market is relatively defensive. Cailian News Agency reported on August 6 that Sunil Tirumalai, chief strategist for global emerging market equities at UBS, recently published an emerging market stock strategy and believed that the stock market crash should be viewed rationally, and the Chinese market is relatively defensive. MSCI Emerging Markets/AxJ fell by about 5.5% in the past week. A series of global macro events jointly triggered the sell-off, including the increase in concerns about a US recession after the release of weak employment data, mixed feedback from technology stocks and high valuations/expectations, increased geopolitical tensions, and the possible exit of yen carry trades after the Bank of Japan's decision to raise interest rates. Against the backdrop of multiple global macro risks recently, UBS believes that China is relatively defensive. (21 Finance)
