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UBS Expects Mkt Won't Return to April Lows
Recommend 34 Positive 71 Negative 30 |
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Wang Zhonghao, head of China Stock Strategy Research at UBS Investment Bank, said that US President Donald Trump announced on 10 October that he would impose an additional 100% tariff on Chinese goods. Since the MSCI China Index has risen 36% from the low on the so-called Liberation Day in early April, UBS expected certain profit taking in the short term. With the additional 100% tariff, the potential US tariff level on China is equivalent to April (145%). As the leaders of China and the US may hold a meeting, investors have already reflected the easing of geopolitical tensions, and the broker believed that stock prices may correct in the short term. However, UBS anticipated that the market will not return to its low in April as the rapid easing of the April tariff war suggests that more investors may buy the dip this time, the uncertainty of global tariffs decreased, making the conditions for easing clearer and global stock markets have risen significantly from their April lows. AASTOCKS Financial News Website: www.aastocks.com |
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