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            october 18, 2018

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Indiaexportnews.com

JP Morgan downgrades China stocks

  10.10.2018    

Investment banker JP Morgan lowered its rating for Chinese equities to neutral from overweight, predicting the escalating trade conflict will affect China's economy next year, according to Shipping Gazette.
"A full-blown trade war becomes our new base case scenario for 2019," said the bank's emerging market strategist Pedro Martins Junior, reports CNBC News. "There is no clear sign of mitigating confrontation between China and the US in the near term."
Mr Junior said China's GDP growth could be negatively impacted by one percentage point from the latest round of announced tariffs, assuming it "does not take countermeasures."
"Higher tariffs are squeezing Chinese manufacturing's profit margin, reducing the investment incentive and hiring, which would then drag on consumption via reduced income," he said.



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