After a tough period for Chinese tech stocks, investors are now hoping that the worst is behind them. Goldman Sachs reveals how investors can trade the sector.
Chinese stocks are on investors' radars once more, after the mainland announced a relaxation of Covid-19 restrictions that raised hopes of an economic recovery in the world's second-largest economy. One segment of the stock market that has been particularly beaten down is the tech sector. Chinese tech stocks have endured some difficult years following a regulatory crackdown and the effects of pandemic restrictions, though the sector has recovered slightly on reopening hopes.
2022 at 14% year-on-year," Goldman's analysts, led by Allen Chang, said. This is on the back of resilient demand and revenue contribution from large enterprises in 2022, he added. Chang said he expects demand from these large enterprises to be "more visible" in 2023, while demand from small-and-medium enterprises could also surge in the second half of 2023 if China's economy returns to normalcy.
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.
Goldman taps former BoE official Bradley Fried as next International chair- Sky NewsGoldman Sachs Inc has tapped Bradley Fried, former Chair of the Court of the Bank of England, as chairman of Goldman Sachs International (GSI), Sky News reported on Saturday.
Read more »
Goldman Sachs is planning to cut up to 8% of its employees in JanuaryThe planning is ongoing, and the round could be smaller than that, according to the person, who declined to be identified speaking about personnel decisions.
Read more »
Raducanu hires Sachs as coach on trial until end of yearEmma Raducanu says her new coach Sebastian Sachs has been appointed on a trial basis until the end of the year.
Read more »
Artic cold front heading for S.A. but chances of a white Christmas are slimThe mercury will plummet into the 30s and wind chills will drop into the 20s later this week.
Read more »
New models predict at least 1 million deaths in China amid covid surgeA fast-spreading covid-19 outbreak in China has researchers predicting a surge in virus-related deaths next year, with several analyses forecasting more than 1 million fatalities in a country that until now has largely kept the coronavirus in check.
Read more »
Ukraine aid opened the floodgates for more Pentagon spending as US eyes Russia, ChinaU.S. aid for Ukraine has opened the door to a flood of new military spending as officials seek to replenish supplies and prepare for a potential conflict with Russia or China.
Read more »