A second round of China stimulus incoming?
Business

A second round of China stimulus incoming?

By October 10, 2024 No Comments

In recent interview with Ausbiz, our CIO Angus Geddes noticed a big shift in Chinese and Hong Kong stocks.

  • The recent rally in these markets is likely due to profit-taking following substantial gains.
  • China stimulus: The Chinese government is expected to introduce a second round of stimulus measures to stabilize the floundering economy and stock market.
  • Investment opportunities: Despite the recent rally, benchmarks in China and Hong Kong remain below levels from 4-5 years ago, presenting a potential value opportunity.
  • Stocks to watch: Tencent (HKG: 0700) and Alibaba (HKG: 9988) are recommended due to their resilience, growth, and relatively cheap valuations.
  • Australian resources: The expected stimulus from China could positively impact Australia’s resource sector, making stocks like BHP (ASX:BHP) and Rio (ASX:RIO) attractive investments.

Source: Ausbiz

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