The economic costs of China’s zero-Covid policy is increasingly expected to outweigh its benefits, according to investment bank Morgan Stanley.
Tennessee School Board Bans Holocaust Graphic Novel ‘Maus' – Author Art Spiegelman Condemns the Move as ‘Orwellian'
"We are therefore expecting bigger earnings consensus reduction. At this point, we think investors are still being too bullish with their expectation about corporate earnings," she said. The bank expects the CSI 300 index to reach 5,250 by year-end and the MSCI China index to reach 95 in the same period. The CSI 300 is currently trading at about 4,680 after losing about 5% this year. The MSCI China index, which foreign investors often use as a benchmark, is hovering at about 82 — lower by 1.3% year-to-date.
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