Goldman Cuts Asia Stock Target on Mounting Trade, Macro Risks
By Moxy Ying
June 21, 2018, 9:24 AM GMT+5
Brokerage lowers 12-month MXAPJ target to 625 from 640
Reiterates overweight on China and India; upgrades healthcare
Even Goldman Sachs is turning less optimistic on Asian stocks amid growing uncertainty in global markets.
The long-time bull has pared its 12-month target for the MSCI Asia Pacific excluding Japan Index to 625 from 640. Trade tension between the U.S. and China has escalated against an unfavorable macro backdrop, as global growth is slowing with tighter U.S. monetary policy and a stronger greenback, strategists led by Timothy Moe wrote in a report dated Thursday.