Short-term corrections in the Chinese stock markets can be a buying opportunity for investors, says a strategist from Bank of America Securities.
Winnie Wu, a China strategist at the investment bank, acknowledged that there’s still a potential volatility from China’s evolving Covid situation, and there could be more bad news ahead if Covid cases rebound or real estate companies default on their debt.
“But you know, generally speaking, looking at the bigger picture, the worst in terms of corporate earnings, the disruptions, Covid cases — those should be behind us in the second quarter already,” she told CNBC’s “Street Signs Asia” on Wednesday. Wu pointed to recent announcements such as reduced quarantines for international visitors to China.
“China is sticking to the zero-Covid policy, but we’ve seen some changes,” she said, adding that she hopes the authorities would try to minimize disruption to the daily lives of residents.
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