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In contrast, the recommendation for Taiwanese stocks has been raised to "overweight" from "neutral." Citigroup highlighted Taiwan's significant role in manufacturing artificial intelligence equipment as a key reason for this upgrade.
This change in Citigroup's position on Chinese stocks is notable, as many other global banks still anticipate growth in China. For example, JPMorgan Chase recently upgraded its recommendation for Chinese stocks in November, pointing to increased AI adoption and efforts to boost consumer spending.
Earlier this year, in July, Citigroup had upgraded its outlook on China to "overweight," citing improved earnings expectations and favorable valuations. Since that time, the MSCI China index has increased by about 8%, while the broader MSCI Asia Pacific index has risen by approximately 11%.
source: bloomberg.com
This change in Citigroup's position on Chinese stocks is notable, as many other global banks still anticipate growth in China. For example, JPMorgan Chase recently upgraded its recommendation for Chinese stocks in November, pointing to increased AI adoption and efforts to boost consumer spending.
Earlier this year, in July, Citigroup had upgraded its outlook on China to "overweight," citing improved earnings expectations and favorable valuations. Since that time, the MSCI China index has increased by about 8%, while the broader MSCI Asia Pacific index has risen by approximately 11%.
source: bloomberg.com