Credit Suisse sees further upside for the Chinese markets, even after shares on the mainland made their largest monthly gain in almost four years in February.
div > div.group > p:first-child"> "I think China market is going to go up from here, all the signs are there," Suresh Tantia, a senior investment strategist at Credit Suisse's Asia-Pacific CIO Office, told CNBC's"Capital Connection" on Friday."If you're a global equity fund manager, I think you need to be in China."One such factor was optimism over the state of the ongoing U.S.
Furthermore, he added, China's economy appears to be stabilizing despite the weak February manufacturing numbers from the country. Acknowledging that Friday's release of a private survey indicated China's manufacturing sector contracted, the Credit Suisse strategist said domestic demand appeared"very strong."
The Caixin/Markit Manufacturing Purchasing Managers' Index came in at 49.9 for February — higher than January's reading of 48.3, and better than the 48.5 that economists polled by Reuters had forecast. Still, a reading below 50.0 indicates a contraction in activity.Still, taking multiple factors into consideration, he added, the data showed that the recent course of fiscal and monetary stimulus from the Chinese government is"actually working.
Tantia's comments came after the Chinese markets skyrocketed in February. The Shanghai composite ended the month up 13.8 percent — its largest monthly gain since April 2015, according to Reuters.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
United is doubling down on its business class offerings — and that could be good news for investorsCredit Suisse increased its price target for the airline on Friday, citing United's increased focus on its Polaris premium products.
Read more »
1 in 4 millennials have credit card debt for at least a year — here's why they're struggling1 in 4 millennials have credit card debt for at least a year — here's why they're struggling via CNBCMakeIt
Read more »
More Americans are taking longer to pay off their credit-card debtFor many Americans, carrying a balance on their credit cards is the norm — and they’re paying for it.
Read more »
Will A New Goldman-Backed Credit Card Breathe Life Into Apple Pay?Apple is partnering with Goldman Sachs to offer a new credit card. But don't expect it to move the needle on adoption of Apple Pay.
Read more »
What to do if you can't pay your credit card bill on time40 million Americans will miss at least one credit card payment this year. Here’s what to do if you’re one of them. - NBCNewsBETTER
Read more »
Navy Federal Credit Union has a temporary problem with deposits, and customers are not impressedMany customers tweeted angrily Friday they couldn’t see their money deposited
Read more »
Three Reasons Why The New Apple/Goldman Sachs Credit Card Will Strike OutInsufficient rewards, insufficient PFM features, and insufficient analytics capabilities add up to a credit card that will fail to gain the traction in a competitive market.
Read more »
If You Want An Auto Loan Online, Be Prepared to Prove You Are Really YouData breaches have exposed so much confidential consumer information, lenders are reluctant to rely exclusively on stored user names and passwords, or questions like what brand your first car was. 'Biometric' measures could be a solution, according to Experian.
Read more »
U.S. Cyber Command operation disrupted Internet access of Russian troll factory on day of 2018 midtermsExclusive: A U.S. military operation disrupted a Russian troll factory's Internet access on the day of the 2018 midterms
Read more »